Altcoins Talks - Cryptocurrency Forum
Crypto Discussion Forum => Cryptocurrency discussions => Topic started by: arvinabeabe on September 18, 2018, 12:06:37 PM
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What's preventing Bitcoins from being accepted as mainstream payment forms? I'm working on a new blockchain and would like to learn what drawbacks of Bitcoin urgently need to be improved Wink
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What's preventing Bitcoins from being accepted as mainstream payment forms? I'm working on a new blockchain and would like to learn what drawbacks of Bitcoin urgently need to be improved Wink
for me ... The advantage of kryptocurenccy can generate huge profits in a short time.
The drawback is that because the cryptocurrency is decentralized and has no legal institution, your investment cannot be guaranteed. losing because of mistakes, or wrong transactions there is no guarantee that your money can come back and bitcoin is very difficult to predict because prices fluctuate, if our prices are high we can make big profits.
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Cryptocyrrency is a market where you can earn money easily and in very short amount of time. So there are some risk here which are the drawback you can say. Unpredictable, no legal institution, your investment cannot be guaranteed and miss transaction can't be solved are the main drawback from my point of view. There are other drawback too.
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For me the lack of Bitcoin is only one. That is when prices go down. Now when the price falls when that's the biggest weakness of Bitcoin and all the other coins in the Crypto world. When it comes down a lot of people sell it and cause coins to go down too. Just to increase the price is very difficult. That's all my opinion for this.
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Disadvantages of bitcoin. Despite all the advantages of crypto currency, you can identify some of the shortcomings of bitcoin. At first glance it seems that anonymity is a huge plus. In fact, using the wallet anonymously, in addition to the data for authorization, the user has nothing. If the password is lost, then it will not be possible to restore it, since no personal data were listed there. Accordingly, along with the password, the funds on the wallet will be lost. Another drawback is the lack of possibility to cancel the payment. If the wrong amount or the recipient was specified, then nothing will be changed. Any operation with a digital currency can not be appealed in any way. Therefore, it is necessary to check with special care all payments and transfers.
A serious minus bitcoin can be considered its non-distribution. Although bitcoins are widely used in Europe, they are unpopular in Russia. Basically, bitcoins can only be spent on the Internet or translated into dollars.
High volatility of the crypto currency also does not always have a positive character. Any major transaction can greatly affect the course of bitcoin, and not the fact that it will change for the better.
It is not known how bitcoin will behave in the future. In this regard, some positive aspects can become negative and vice versa. Many people call bitcoin the currency of the future, but is it so? While this question can not be answered. 8)
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Until now I did not find any Bitcoin deficiencies that harmed me personally, bro. Maybe the shortage is only the Bitcoin market is unstable, and even then all because of us who are not consystem in playing trading in Bitcoin. I think that's my opinion.
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The current Bitcoin loss is an unstable market situation in recent months. Many people are desperate for Bitcoin because the price is too low, bro. But now Bitcoin is starting to rise again from its weakness. Now it's starting to rise in price little by little. We just wait for Bitcoin at the end of this year. Yeah, it means that the disadvantages is about the volatile market. Additionally, I also think of the high transaction fee of the bitcoin.
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I believe that they are the FEES of each transaction (they are necessary, but for movements of low amount they can be excessive) and their volatility that you do not know how it can be tomorrow.
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Bitcoin's adoption would be the biggest adoption,and it is being controlled now by some people probably financial institutions or the banks which is why its full potential and adoption wont be in the near future.I am a fan of blockchain technology but not bitcoin,because BTC is only a product of blockchain technology.
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What's preventing Bitcoins from being accepted as mainstream payment forms? I'm working on a new blockchain and would like to learn what drawbacks of Bitcoin urgently need to be improved Wink
For now is the speed. In december we had fees touching even 20$ and many business stopped accepting it because of that. It's clear that currently cannot be mass adopted, BUT when the Lightning Network will be mature enough, will be another story, and BTC will be unstoppable... sorry VISA ;D
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I think the drawback is that when the price of Bitcoin is unstable. Then most people also jump into Bitcoin to find the maximum profit and ultimately exchange their Bitcoin with Fiat. I don't know why it is like that, but the facts of the incident are like that.
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What's preventing Bitcoins from being accepted as mainstream payment forms? I'm working on a new blockchain and would like to learn what drawbacks of Bitcoin urgently need to be improved Wink
Bitcoin has so many big advantages just like the market capitalization, it's very expensive value and popularity with the highest number of investors.
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I think the advantages of Bitcoin are more than the disadvantages. But one thing that doesn't like Bitcoin is that it's a price that changes easily. Today Bitcoin could be in a high position and within minutes the price dropped sharply.
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For me biggest disadvantage of Bitcoin is its high transaction fees. ETh, XRP, Doge and most of altcoins need very low transaction fees.
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I think the biggest disadvantage of bitcoin is that the payment for transaction is high that's why many are choosing ethereum when it comes t this.
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@leodiaz, that's true. Not only you, I also don't like bitcoin because bitcoin is very easy to change in price. But if we think more, the price change is an opportunity for us to collect some coins at low prices.