Disadvantages of electronic currencies comparing to bitcoin
Many financial international and domestic experts assert that the future of bitcoin is not just in the field of the financial markets. Soon, experts predict that cash will disappear from use, no longer need to go to the Bank to withdraw or to put money into the account, payments and management of virtual money supply will be carried out in virtual mode.
Today Bitcoin payment system actively looking to get the palm of victory over other systems. It just waits, when "X-hour" will come, which causes so many disputes of the experts in the financial and stock markets.
Electronic bitcoin currency has several advantages over the currency of other popular global payment systems. Which disadvantages has the electronic currency payment systems? What exactly predict a dominant role to bitcoin in the world of payments and settlements?
Disadvantages of electronic currency payment systems.
In order to understand why the bitcoin cryptocurrency is so interesting to the world’s community of financiers, bankers, analysts and even businessmen, it should be compared with other virtual currencies, for example, identifying their deficiencies, at the same time stressing its dignity.
To use the wallets require full disclosure of personal data (in particular, payment system WebMoney involves loading passport data) that bitcoin is not provided.
Currency of many payment systems is a debt obligation of the issuer, while bitcoin is just a number, "drawn by a mathematical algorithm" and management is completely decentralized.
Issuing currency payment systems are unknown to anyone in advance, except for those who directly runs the course of the emission of bitcoin is known to the participants before it happens.
Currency of payment systems cannot be called precious, because there is a lot of it in the market, but bitcoin is valuable, such as gold, so the demand is always increases.
Currency payment systems significantly depend on fluctuations of the exchange rates on the world financial market, the economic situation in a specific country, level of inflation etc., the exchange rate of bitcoin is not dependent on these factors, as determined by the categories of "demand-proposal".
Wallets with currency payment systems are accessible only to their users, except for certain persons’ no one knows what transactions and in what amounts are made in the currency of the payment system. Bitcoin is the blockchain, which is open to the public, which allows the transaction in this system fully transparent.