The Bitcoins system is more and more emulated, but what do they actually bring in more than the classic currencies? And especially what are its disadvantages and that you risk exactly to bet on this currency.
The system of the Bitcoins has an undeniable first advantage, its decentralization, it does not depend on any organism! At its creation, it was decided to issue 21 million Bitcoins and not one more. This guarantee allows a stable currency, unlike the euro to the dollar or other, central banks do not have the capacity to increase the money supply in circulation to revive the economy. What normally protects you from a rapid devaluation and allows the Bitcoins theoretically to keep up with inflation.
Moreover, as each user represents a part of the system, the exchanges take place directly. This allows you to avoid any processing fees or transfers. Exactly as if the exchanges were carried out from hand to hand. This represents an enormous advantage for electronic purchases, plus no worries about spending even very small amounts, the operations are as free as if you pay in cash.
However, the system is anonymous, transactions are public and shared with all users, but nothing links your account number to your true identity. Which may at first appear to be an advantage, but which is in reality double-edged. So your operations are completely anonymous, which of course is a huge plus for you, but it makes governments jump. This is the door open to undeclared exchanges! Some people even talk about money laundering and trafficking of all kinds. This problem is purely legislative, so let's leave it aside, the disadvantage of anonymity for you user intervenes at the level of your protection. Once the money is transferred, you no longer have any recourse, since it is impossible to go back to the account holder.
The problem is moderately disturbing for operations, as it is high time for people to take responsibility and learn to take precautions before validating an operation. But it is much more embarrassing in the event of theft, because although the system is normally effectively protected, it is always possible to hack data on your computer and make a transfer on your behalf. This is where anonymity is much more problematic, you have no chance of recovering your property.
But the biggest disadvantage at the moment is that, the course of the Bitcoins is very volatile. The slightest rumor can bring down its rating, so it is so very random to bet on this currency for placement. The system can be interesting for electronic exchanges, or online shopping, but it is still far from representing a safe haven in the same way as gold.
It should be borne in mind that this system is only a first large-scale test. And even if it begins to worry some banks or certain governments that lose with him any control over the currency. It is still far from shaking the dollar. It is a system that we must continue to observe, and can be done some tests. But it will still take a few years before offering a real alternative. Do not forget that Bitcoins can lose their full value in just a few days if the system disappears.