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❓ASK What drawbacks does Bitcoin have?

D

Dagov

Guest
What drawbacks does Bitcoin have?
The drawbacks include the following: -

Because so few individuals are aware of its advantages, there is a very low level of acceptance.
Especially in comparison to what it should be, there are a very minimal number of Bitcoins in circulation overall. Because of this, the price of Bitcoin might become unstable with even a slight change.
Since bitcoins are currently in beta, many unfinished features are being actively developed.
 
The draw back that it actually offers is that the level of government acceptance is still not too high , the volatility and risky index of Bitcoin is still too high like that ,and investors can't gather and make more gains as they need to excise risk management
 
We all know that everything that has an advantage must surely have disadvantage. Some people not wanting to adopt cryptocurrency is one of the drawback of cryptocurrency and crypto can be an extremely volatile investment
 
We all know that everything that has an advantage must surely have disadvantage. Some people not wanting to adopt cryptocurrency is one of the drawback of cryptocurrency and crypto can be an extremely volatile investment
True what have a merit could probably have a demerits , also I think the effect that news could actually infulence Bitcoin makes it less attractive for investors ,some investors actually don't want to adopt cryptocurrency in an unfavourable way
 
The greatest drawback bitcoin have is that mining of bitcoin consumes a lot of energy. This one of reasons bitcoin mining is prohibited in some countries. Initially, Iran banned mining of bitcoin but later opened it after considering a look at the prospects.
Another drawback of bitcoin is low acceptability by governments, financial institutions, etc.
 
The greatest drawback bitcoin have is that mining of bitcoin consumes a lot of energy. This one of reasons bitcoin mining is prohibited in some countries. Initially, Iran banned mining of bitcoin but later opened it after considering a look at the prospects.
Another drawback of bitcoin is low acceptability by governments, financial institutions, etc.
I think that's why there have been great move on the adoption of green energy kind of mining , probably it could actually help with this huge amount power that is been used for mining in be that order
 
I think that's why there have been great move on the adoption of green energy kind of mining , probably it could actually help with this huge amount power that is been used for mining in be that order
Yes, I think that Bitcoin will gradually become more and more "green" since it can not stay behind in this and must migrate so that in addition to everything that Bitcoin already is, its value proposition continues to increase and is seen with different eyes also by regulators.
 
Yes, I think that Bitcoin will gradually become more and more "green" since it can not stay behind in this and must migrate so that in addition to everything that Bitcoin already is, its value proposition continues to increase and is seen with different eyes also by regulators.
I also believe it would be more green as time goes on , it can't continue to fall forever ,there would probably be a time when the bullish pattern would rise again and make the investors investing more opportunities to make profit
 
I also believe it would be more green as time goes on , it can't continue to fall forever ,there would probably be a time when the bullish pattern would rise again and make the investors investing more opportunities to make profit
Yes, but probably this is going to be the longest bear market for Bitcoin, because Bitcoin has lived in a quantitave easing environment since it was born and now it is in a totally different environment, and this will take a few years to fix until we return to how we were, so it is most likely that this in the best case will last 1 more year.
 
Yes, but probably this is going to be the longest bear market for Bitcoin, because Bitcoin has lived in a quantitave easing environment since it was born and now it is in a totally different environment, and this will take a few years to fix until we return to how we were, so it is most likely that this in the best case will last 1 more year.
Yeah the bear Market have bern on for a while now , I was thinking things would probably change ,but it seems the bear Market is actually still running hard , am sure that many that have invested would probably make loss ,if they don't understand the market situation
 
From the technology point of view, BTC only has a very small throughput of 7 tps and it's extremely far from VISA's 24,000 tps. It's slow and unreliable at busy times, making the transaction costs go to the roof. Compared to ETH, BSC, TRX, etc., BTC also doesn't have the smart contract ability that makes DeFi & NFT possible. Just try to use it and you'll see how other coins are more convenient.
 
There are many drawbacks that Bitcoin has. Among them include the fact that the anonymity of the coin can be misused. In fact, there are many people that use it for illegal act. There are still indifferent attitudes of people towards it.
 
There are many drawbacks that Bitcoin has. Among them include the fact that the anonymity of the coin can be misused. In fact, there are many people that use it for illegal act. There are still indifferent attitudes of people towards it.
Yeah the anonymity of the coin can be misused , I think that's why the government are all trying to make sure that there are tight regulation ,they have seen that people are definitely using the system for another thing else I think
 
Yeah the anonymity of the coin can be misused , I think that's why the government are all trying to make sure that there are tight regulation ,they have seen that people are definitely using the system for another thing else I think
That's one of the major reasons government used. But I don't really buy the idea since fiat currency as well can also be used for illegal activities and it may be difficult to trace the perpetuators as well.
 
That's one of the major reasons government used. But I don't really buy the idea since fiat currency as well can also be used for illegal activities and it may be difficult to trace the perpetuators as well.
It would be really difficult to track the perpetuators , I think one thing that should be noted about investing , is the kind of risks been adopted , most investors are adopting without understanding the risk that comes with investing in the market
 
Another drawback to Bitcoin is the fact that it makes use of some sophisticated technology that is very difficult to explain. This explains the main reason why most illiterate do not really like involving in it.
 
Another drawback to Bitcoin is the fact that it makes use of some sophisticated technology that is very difficult to explain. This explains the main reason why most illiterate do not really like involving in it.
Probably the method of trading and how to run it , although yeah most people don't believe in Bitcoin , they think it's a fake scheme ,that's why many don't want to invest in it , I wish they could see the amount of gains and benefits attached to Bitcoin investment
 
The uncertainty and high volatility of the coin is surely another turn off for most people. It is highly unpredictable. This has made some people to liken it with gambling even though it doesn't have much similarities with gambling.
 
The uncertainty and high volatility of the coin is surely another turn off for most people. It is highly unpredictable. This has made some people to liken it with gambling even though it doesn't have much similarities with gambling.
The high volatility is really a problem ,what suprise me most is that despite the high volatility of Bitcoin ,some people are still using huge leverage ,as they don't care about the volatility and others , but are only more concerned about other things
 
The high volatility is really a problem ,what suprise me most is that despite the high volatility of Bitcoin ,some people are still using huge leverage ,as they don't care about the volatility and others , but are only more concerned about other things
The fact is that we have different types of risk takers. And majority of crypto users are high risk takers who always want to either make it big or lose it big. Though expert are always find in this category.
 

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