Bitcoin difficulties

Not only of advantages the biticoin and compound below we will list some disadvantages of this currency that we love. This post is not a criticism of bitcoins in the same ones as HOW15 we recommend and we have investments in bitcoins.

1) Volatile Market

As a matter of fact, biticoin is very volatile and we never know what the real value will be the next day. The price of biticoin changes rapidly with the passing of hours meaning that your biticoin can either increase its value by% 50, or lose% 50 of its value in a few minutes a real example of this and that bitcoin has reached a maximum of $ 58,000 and the next day it dropped to $ 44,000. This is one of the main reasons that traders do not want to accept cryptocurrencies as a means of payment.

“Crypto assets are still very small markets compared to other financial assets, although it is growing a lot. So, of course, this makes it more volatile, as less volume is needed to effect a relevant rise or fall in prices ”, explained Vinícius Frias, CEO of fintech crypto Alter

2) Not very good security

The people who create programs for cryptocurrencies are not security experts and that is very bad, because more and more hackers appear wanting some bitcoins for free, and those people who want their cryptocurrencies for them are developing and creating hacking techniques each more day. Many people will already lose millions because of these hackers.

3) It takes high fees on transactions

There are people paying $ 26 dollars for transactions with bitcoin one, a very high fee if we consider the amount that is being transferred an example from twitter. Last week, a journalist said on Twitter that he paid $ 15 to send $ 100 in bitcoin from a digital wallet to a physical equipment wallet and shortly thereafter another person paid $ 16 to send $ 25 in bitcoin from an address. from bitcoin to another. With these fees the only people who were happy with transactions with biticoin are the miners who earn bitcoins to add transactions to the blockchain.

Biticoin transactions can take anywhere from five minutes to an hour, depending on the bitcoin network. These are the factors that affect the speed of bitcoin transactions. Miners fee. The higher the mining fee you choose to pay, the higher the blockchain transaction priority will also be.

“Two years ago, people thought that bitcoin would solve all transactions, and I think what we are seeing is that this is not how it is going to happen,” Ripple CEO Brad Garlinghouse told CNBC earlier this year.

“One of the biggest problems with bitcoin now is that so many people want to use the currency that the network occasionally gets bogged down,” Ryan Radloff, co-founder and director of CoinShares, told CNBC on Tuesday.

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Post Written and created by Bruno Costa