We all know the advantages of BTC, but what are some of the disadvantages??
We all know the advantages of BTC, but what are some of the disadvantages??
Its service relies purely on internet connection which makes it impossible to use anytime and anywhere specially in some third world countries which internet is not a basic commodity.
We all know the advantages of BTC, but what are some of the disadvantages??
Its service relies purely on internet connection which makes it impossible to use anytime and anywhere specially in some third world countries which internet is not a basic commodity.
yes i agree but this is the one of disadvantage of bitcoin
No Buyer Protection When goods are bought using Bitcoins, and the seller doesnt send the promised goods, nothing can be done to reverse the transaction. This problem can be solved using a third party escrow service like ClearCoin, but then, escrow services would assume the role of banks, which would cause Bitcoins to be similar to a more traditional currency.
Well one that i can think of is that it is still not perfectly anonymous. Personally i'd like to see bitcoin evolve into the future into something like XMR with essentially in built coin mixing. This is probably not necessary but rather an add on.
Another thing is that, fees are often high.
Also, blocks are 10 minutes on average in between so that means you're probably not going to be able to get stuff irl instantaneously without the merchant having to trust you.