Post
Topic
Board Bitcoin Discussion
Re: The ugly side of Bitcoin
by
isaac_clarke22
on 15/07/2019, 12:51:25 UTC
~
For bitcoin itself it still has some negative sides or weaknesses that you mean, in my opinion there are some that I think about this bitcoin weakness, namely:
1. Not yet recognized in all countries, there are even some countries that expressly prohibit bitcoin from circulating in their countries.
2. Security issues, because bitcoin is valuable, security must be tightly guarded. For security now it's good but it does require more knowledge and skills to implement good security, so people who are struggling to follow the mining era or do not want to follow, the bitcoin security is very vulnerable to being stolen by others.
3. The level of tracking of the bitcoin movement is difficult. Until now it is still difficult to track this bitcoin transaction moving to who and from whom because the wallet address is an address created from a random system generated by our wallet keyword phrases. This is actually to improve security, which will make it difficult for someone who intends to hack our account / wallet, but this can be misused because it can be used to facilitate money laundering transactions.
4. Fast price fluctuations and sometimes too high ranges. This makes investors very scared, especially investors who are new and only plan to invest in the short term. Besides making a lot of thoughts, it can also make us lose our initial investment capital.
5. The absence of fixed price transactions makes the transaction fee price very high. But in my opinion this is reasonable because of the increase in prices on Bitcoin itself, so the miners do need extra effort to launch our bitcoin transactions in block transactions, so the fees go up.

1. ...
I'm pretty sure that Bitcoin is already known worldwide, it's just that some countries are struggling to get it adopted due to whoever governs them in there due to some political or even economical issues. Even the 3rd world countries, including mine, should've already known Bitcoin for at least.

2. ...
Not sure what type of security were you referring in this but if it is about holding one then I think it is up to one's time in crypto whether they're truly exposing themselves to public that they're trading or hodling Bitcoin. Surely that person could've invested to his Trezor Wallet, for safety purposes.