Post
Topic
Board Bitcoin Discussion
Re: BTC currency unit is too complicated to accepted widely.
by
insto
on 19/08/2018, 15:54:24 UTC
Yes, that's what I think too, and there are more general weaknesses that seem to be difficult to remove. If examined more deeply, Bitcoin is speculative (in relation to value). Its value is determined by the number of people or business units that accept Bitcoin. If more and more use, the value will continue to increase. Conversely, if it gets less, the implication is that the selling price will go down. Besides that, as a crypto currency, Bitcoin does not recognize transaction cancellations. The process is also public, no entity can provide guarantees for negligence that causes loss or errors in the shipping process. Hardware wallets (special devices for storing private keys) are also susceptible to virus attack or damage if not treated properly, can cause coins to float.