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Re: What are some disadvantages of BTC?
by
stephylarde
on 16/02/2018, 14:13:39 UTC
We all know the advantages of BTC, but what are some of the disadvantages??

The advantages of bitcoin are also its disadvantages depending on the current situation of the market. Here are some of disadvantages of using bitcoin today:

1. The volatility of bitcoin is a double-edged sword, very unpredictable in its price and might result to a profit/loss on an individual;
2. Its limited supply of 21 million in the market;
3. Some counties ban the usage of bitcoin, resulting to a decrease on potential investors;
4. There are many external factors that can affect its price like the banning of ICOs in China; and
5. Its decentralized nature makes it as a perfect medium under the dark web for illegal transactions.

Those are some of my opinions regarding its disadvantages but the advantages of using bitcoin in the community supersede all of those what I stated. There may be some drawbacks from transacting bitcoin but let us not forget its endless opportunities in the community.
-Bitcoins are not widely accepted.
-Wallet can be lost.
-Bitcoin Valuation Fluctuates.
-No buyer protection.
-Risk of unknown technical flaws.
-Built in Deflation.
-No Valuation Guarantee.