Weaknesses of Bitcoin?

Weaknesses of Bitcoin?

By saykot | Mother's Love | 30 Jul 2019


I believe bitcoin has a lot of weaknesses but only if you consider it as a normal payment option. Clearly things like VISA or paypal are better, they are much safer, faster (instant) and accepted anywhere. Bitcoin simply doesnt work for daily transactions, fees, time and volatility. If you look at bitcoin like at gold, then yes, bitcoin wins in my opinion.

Sometimes i thought Bitcoin is like stock share market.Some times goes high,some times get low.The insane volatility become major weakness.Besides,It's not for people that don't understand technology. I'm not talking about blockchain but the way on using it, you need to have bitcoin wallet, you need to understand what's a bitcoin address.Also traditional payment systems bitcoins pretty weak. The most basic thing won't be understood by a person that isn't oriented with computers and smartphones.

Although All thing has good and wrong sides.Bitcoin has been showing a lot of strength and advantages which is making its weaknesses unnoticeable.
More than it's weaknesses, Bitcoin is strong enough to provide the expectations that we want out of it as a currency and as an investment. It may be weak at some point but its strength could cover up those lapses.

The price is so volatile because most people have a wrong mentality about bitcoin,thinking this was created as an investment asset rather than a currency for people to use daily. Because they have the wrong idea of bitcoin in their minds that's how they are going to promote bitcoin further to their friends& family do everyone comes into this circle thinking at bitcoin as just a method to increase your money in a fast way.

What you think"what most major weakness of bitcoin"

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saykot
saykot

hi..i am saykot.always wanna know about crypto.


Mother's Love
Mother's Love

I am saykot.I am not a trader or not speacialist about crypto.But i am internet surfer.Every day I surf internet for learn and share knowledge.I love to learn tech related things. HAPPY LEARNING

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