Bitcoin is the bartering system, which is one best alternative for paying with checks, cash, PayPal, and credit cards. Bitcoin offers the private (perhaps even clandestine) way of paying for the things. My guess is unfortunately, a few Біткойн transactions are used for buying the illegal services and things. Benefit of the Bitcoin is it preserves the privacy and Bitcoin has a lot of disadvantages that includes:
- Even though Bitcoin has the charms, it’s proprietary and not a part of, and backed by, government. Only the finite number of the Bitcoins is created that helps to make Bitcoins appear valuable than they are. So, by limiting number of the coins made, which is combined with hype, have also pushed up price of the Bitcoins.
- Some Bitcoins benefits might have the questionable value. Advertised benefits will include emailing the friends money, and related to gold, this provides privacy or stability, ad more. Problem is, checks, cash, credit cards, money orders, prepaid money cards, or bartering with something, wire transfers, or PayPal; appear to cover each payment need.
- Buying Bitcoins isn’t cheap. Except for EBay, purchasing Bitcoins isn’t simple and easy; or except for EBay, some Bitcoin vendors appear flaky. For the test, I have emailed 4 Bitcoin exchange vendors, which includes two close to me, none of them ever responded. While you buy the Bitcoins, there’re not any refunds.
- In my check, software to create Bitcoin “wallet” on the computer appeared slow or buggy. I checked two various Bitcoin wallet programs, it seemed like they will take days to complete coordinating a few things with the Bitcoins server network.
