Bitcoin Forum

Personally, I think rthe Bitcoin/Crypto market needs to be regulated for it to become mainstream or useable in everyday life situations. For instance buying a cup of coffee or even buying gas? What do you think? What're the top projects you've been keeping an eye on and how do you think this will change the future of Crypto?

I'd say it's the wallet security.

You can easily lose a wallet or have it stolen.

The other thing would be that it's not yet accessible to the majority of people since it's not the most user friendly thing yet.

There would be many weaknesses. But I don’t want to talk about technical issues; many people will tell you about that. According to me a big problem with Bitcoin is that it has no minimum valuation guarantee. So if some big investors agree to dump their holding together its value can fall immensely causing immense amount of loss to general investors.

The biggest issue would be in my opinion, that BTC in its core is not scalable and is not a healthy product, but scam.

Regulation and legal issue are the biggest barriers in most country. For example, in Indonesia using Bitcoin (or any currency other than Rupiah) for means of payment is not allowed. Before the central bank released the statement there are already some merchants accepting Bitcoin but since then they retracted Bitcoin payment option. Even the biggest Bitcoin exchange here (Indodax) is closing their local "Bitpay"-like service. Now Bitcoin is mostly seen as an asset. I'm still glad the government didn't ban Bitcoin completely.

The second one I think comes from Bitcoin technical limitation itself. Who would wait 10 minutes for buy a coffee? The current system simply isn't made for currency. But this one can theoretically be solved by off-chain/sidechain transaction like what Lightning Network is doing.

Buying a cup of coffee or beer is already happening. Look into Lightning network, Off-chain solutions are the future of bitcoin. Atomic swap is something I have been keeping my eye on, it's another thing which will play a huge part in the coming future. The biggest weakness for me is an obvious one i.e On-Chain Scaling. You can't push everything to off-chain systems. You need to have a speedy on-chain settlement system to keep up with the world if Bitcoin is to become a common currency. This may be in the form of a block-size increase or some breakthrough we might have in the future but something will have to give.

Bitcoin is going to be a highway for accessing cryptos for a long time that's for sure. But Regulations won't help at all.

1.The amount of money and power concentrated in a small group of crypto whales.
2.All the dirty tricks used by the crypto exchange platforms to scam their users and to manipulate trading volume.
3.The massive amount of ignorance outside the crypto industry.
4.All altcoins/ICOs.

I can't entirely disagree with your statement. To see the long term growth of crypto, adoption is necessary. But such adoptions should come from the brands like walmart or spencers where people can buy their regular supplies. It should not be from brands like Rolls Royce or Ferrari. Obviously those will be wonderful additions but won't help the crypto growth.

But this kind of adoption won't come without regulation. So I support regulation on crypto when it comes to increased adoption rate, even though regulation is directly against the nature of cryptos.

We already have the grounds ready for such adoption. We already have projects like bitpay or coinpayments which merchants can use to enable crypto payments in their store. But regulation is one factor that is stopping the merchants from adoption. So I will consider the absence of legislative framework as the biggest weakness of crypto space.

As per observation in the btc market, I don't really see any big weakness with respect to btc . I would consider volatility as a minor weakness for btc and not a major one since volatility is already a part of the crypto market movement. Moreover, people who had been with bitcoin had already understand how btc work's in the crypto industry and does not really give importance on the weakness issues.

bitcoin does not need regulations.
regulations are where authorities get businesses to spy and police customers. in short giving businesses a sherrifs badge of authority. which some people treat as a badge of honour or trust.. but reality is there are still corrupt police around. after all how did regulating banks protect people in the 2007-8 crisis.

we need CONSUMER PROTECTION. where we, users. get to due diligence and KYC the businesses and we get to police the businesses. especially because those businesses will be getting our coins.

regulations: let businesses tell customers what customers can and cant do with our money
consumer protections: lets users vet and challenge and tell businesses what businesses should do with our money

i find it funny that people advocate for regulations.. complete mystery why

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... using your coffee payment question
things like using LN are stupid. to use it you need to
lock funds up.. (involves pre-planning spending habits)
when locked up it requires other people so sign for the funds (no longr 100% owned as its co-authorised)
it also needs splitting funds into many channels to have a better chance of routing(increases bytes per tx)

in short to pay for 10 coffees in LN you end up doing a tx of 5 outputs to 5 channels to lock in. and when exiting with your 'change'(left overs) it requires 5 transactions of 2in 2out each. signed by 2 parties)

add up the bytes used for all that....

now how about knowing you got to lock in funds(preplan)..
how about.. (wait for the shocking idea)
just paying starbucks a bartab of 10 coffees. a tx of 1 input 1 output. and then starbucks updates your starbucks app balance...
job done. 1 onchain tx.. and you get your 10 coffee's.. job done no counterparty signatures, no multi channels no routing no hoping everyone is online. just 1tx and you have credit for 10 coffees.. end of

in my opinion the weakness of the first cryptocurrency is that the price is unstable, then the crypto currency is easily stolen by hackers, and there is a lot of fraud in crypto.

There is crypto which as backed by USD in order to be stable. But still not clear if it will work out somehow.

Bitcoin's biggest weakness i see is security, because once the hackers go inside your wallet you're doomed. Like the incident in south korean cryptocurrency exchange, they stole 31 million usd worth of crptocurrency. If we can use 2FA in out wallets it is good because we can add an added layer of security. 

At the moment the weakness of bitcoin is namely:

1. The value: everyone both users and investors are worried about the insecure value of bitcoin
2. Government: the government segment are worried about the tendency of bitcoin or crypto currency in general been used for money laundering

I think those are the most difficulties weaknesses this moment and I believe once the evolving of bitcoin continues it will only get better

In hackers situations, you need to make sure you do not compromise yourself
Where do you store your bitcoin? Hope it’s not on exchanges ?

You need to understand that hackers can only access your account if you voluntarily or negligibly expose your accounts unknowingly

Security and a lot of manipulators. Bitcoin is a strong technology, but a lot of greedy people in this market, they will do their best just to make profit through bitcoin. This technology is good enough to bring us in a great future but hopefully, this market can be more secured and manipulators will stop from doing that.

I think if bitcoin / crypto are regulated.
The price will be stable and people will lose interest.
Crypto is liked by many people because the speculative price which can up 100% or down more than 50% in just 1 night :D

For me the biggest weakness of bitcoin is the volatility of its value. The uncertainty and unpredictability of the fluctuations that could possibly lose our investments. If we are gonna achieve 100% adoption in the future, at that particular moment the value of bitcoin will be more stable and it will be widely used.

Hello,

For me there is three whickness :
   - regulations : even if it is not the purpose of BTC I think we need a little more regulations in order to have more trust and bring more people to invest
   - fees : for small amount so for most of the people who are new to invest transactions and withdrawal fees are too important
   - speed : other blockchain are much more fast than BTC and it is really not a good point for it as people want fastness while using a full decentralized technology !

The biggest weakness of bitcoin is its own instability. People tend to runaway from it when they see this happening.

If the bitcoin is regulated through out the world ,most of the people use bitcoin and cryptocurrency as one of the payment.But some of the countries had made cryptocurrency as illegal one.In some countries bitcoin and cryptocurrency is stay legal.This made some people to inverse in cryptocurrency and bitcoin.

There are two biggest weakness would be long transaction time and high transaction fees. Bitcoin is now the mostly used coin in crypto market. Back in 2017, when the bitcoin price is high, the transaction fees reached $40-50 leaving the lower fees $10 stranded. Second, nearly 250k transaction were done per day, as such, sometimes it takes longer time to complete one transaction, on average 30 mins is needed.

To be honest, regulation is going to ruin the entire industry as Bitcoin is based on the blockchain technology which relies on the principle of decentralization that means the power and control is given to the users instead of giving it to a particular group of people. I am expecting lower transaction fees so that we can use Bitcoin even for the microtransactions in the offline markets.

I do not even know who should regulate the crypto currency market, but without regulation the prices will not stop, because they earn on it.

Probably it should be an international global organization, which is due to the world bank.  ::)

Once bitcoin is regulated, all its pseudo-anonymity will be lost. This will be counter-productive to what it is meant to solve. So what needs to be done is to remain unregulated and at the same time, improve itself since it is a first generation blockchain and more projects are overtaking it in terms of tech.

To me one of the biggest challenges that I have found is to try to explain how bitcoin works and why it is better than the system that we currently have, the economic education of people is very low, very few people know about how the economy works or even how the money in their pocket works, and when you have that kind of ignorance it is almost impossible to explain to them why bitcoin is a better choice as a currency because they do not know the weaknesses of fiat.

That is why I have found great resistance to even listen to the arguments about why bitcoin is a good coin that deserves their attention and even their investment, this is making adoption very slow because people simply do not understand why bitcoin is in many forms better than fiat.

Time to process the transaction. We all know how long bitcoin transaction is made. Imagine you are in a hurry and you will be paying in bitcoins. It will eat alot of time just to finish the transaction. If you would say that you will just leave because no matter what the transaction will get trough in no time, does the store owner will let you?

Bitcoin isn't really an industry. It's a currency, so let's get that straight.

But I would say probably the reliance on centralized exchanges at this point.

We've already seen how little option bitcoin adopters have in terms of buying their bitcoin anonymously, and now, even trading bitcoin for other cryptocurrencies have some pretty draconian KYC rules put in place.

In my opinion, bitcoin trading will see a shift to P2P as well as potentially decentralized alternatives in the future just because of the fact that centralized exchanges are constantly under regulatory pressure from authorities, but given that bitcoin itself is decentralized, this shouldn't be a harder transition to make.

I believe Bitcoins biggest weakness is us.  KYC needs shut down immediately.  Identifying us with our wallet addresses is a very dangerous game that could leave us all in the pockets of the elite.  Bitcoin is a miracle and a blessing.  Until that is our names and wallets are put together in the government database.  Once they tie us to a wallet it's game over.  We will not be allowed multiple wallets and we will be taxed at larger rates year after year until we are full on slaves.  Anyone who uses any other form of currency will be arrested. 

This could be a weapon we use against the governments or it will become a weapon used against us. 

As several other posters have commented, I think one of the biggest issues with Bitcoin's potential as a mainstream currency is the volatility of the price.  At the same time, the price volatility is one of the potential means of making it a profitable investment. 

Personally i think the biggest weakness of bitcoin is legality. If bitcoin can be legalized worldwide, i believe that bitcoin will develop non-stop in the future

regulation is indeed a fundamental problem for bitcoin, even from past years. there is no clear regulation from the government for bitcoin, making new investors a little hesitant to start their investment and even bitcoin investors want to withdraw their investment. as an industry, bitcoin should indeed have regulations.

because
1
a million people are not going to be directly connected to strbucks in LN. they are going to be presented with hubs a few hops away from starbucks (imagine it like cloudflare. middlemen ensuring starbucks dont get DDoSed and also where the hubs do the btc<->fiat swaps. for starbucks)

2 because people wont be directly connected and will have times where their channel partner may not be online. might have run out of funds themselves with thier channel partners. or the route doesnt work in that direction. people will need more than 1 channel to guarantee payment reaches the destination..
devs are already assuming 5 channels. (already explained that in your quote of my quote)

3 because of point 1 and 2 its not just a pay in $30.. its a pay in$30 but its split as $6 into different channels. after spending the $23 total of the other channels/routes are depleted they have to close the channel so the counterpart is made whole.
and the last channel with $6 goes offline have to either wait for them to come back on. or just broadcast the transaction to get the funds back .

too many people think that its just a have $30 and it can be pushed in any direction. to those that think that please go learn LN. learn about the copartner multisigs and go learn about lock ins. and also learn about the issues LN devs have already noticed where people do go offline. and money has to be split. and cant just jump channels like magic.

everyone dreams the utopian dream but doesnt rsearch the practical realistic limitations.

anyway ln is still just a outside network for multiple coins and not a bitcoin sole feature.
bitcoin needs to innovate and not let people obsess about side services that take utility away from bitcoin

$Bitcoins biggest weakness is peoples lack of understanding for it! This is one reason regulations are springing up everyday! Some think its fraud because they can't hold/touch it, others think it doesn't even exist.The fact that u have 1 and a couple of 0s isn't going down well with most people. Most of these people have used paypal, visa and other E-money transfer technologies, yet they don't want to accept that its a technology that makes movement of money possible. Others believe that because u can't control it, its a scam. For $Bitcoin to explode, people need to understand what it is, they need to see it as a technology, and for the good it represents not just a couple of unsubstantiated heresays.

For me the biggest weakness of bitcoin is itself, specifically is the merits, I get the idea that post should really be constructive and relevant but giving out merits that has limit is unacceptable. I mean it's like them putting the users to fight for one another. Another thing is that it is hard to rank up. How can we encourage people to use bitcoin when it will be really hard for them to rank up. this will just decrease the number of users and at the same time decrease the value of bitcoin. come to think of it bitcoin is getting lower and lower in value. it will rise up but for a short period only.

Regulations are matter of time and how world is going to press the government's activities. Let's see how well governments will play their session..

There is no guarantee. That's the problem. It could create the big bubble with investors pouring in, but it could burst anytime. Also technically,wallets are vulnerable,DDOS Attacks,Sybil Attack can occur as far as I have read.

The weakness of bitcoin is security and price volatility. Plus the risk of the hard disk contents of the bitcoin owner being deleted accidentally. More painful than cash, you lose all the contents of your wallet without being able to trace where you lost.

To my opinion it's lack of regulation.
We can't expect Bitcoin to be fuly implemented in business and economy without proper regulation because that is also something that mskes Bitcoin risky and unsecure for business owners.
When you add volatility to this it's not hard to see why so small number of industries is using and accepting Bitcoin.

It will take some time before it become mainstream because even the government is hesitant to make it as a legal currency because it's is not a pro government but a pro community. If they do that,  it is hard for them to transact their shady activities.

I could say that the biggest weakness is the legalization issue and supportiveness of local government on bitcoin. They have the power to prevent people from using bitcoin without knowing how helpful this can be though, in my country, this is allowed and even have bitcoin ATMs in some places.

regulation of bitcoin will give more distribution, because thus people will no longer be afraid to invest

In principle, many countries are now engaged in this.They are preparing a legislative framework for the regulation of cryptocurrencies.But even without regulation, it is now possible to pay with cryptocurrencies.The weakness of bitcoin is the constant fluctuation of the exchange rate and not the adoption of this currency by many countries

Yes not proper regulations is a concern for bitcoin, but it's biggest weakness is high price volatility because bitcoin's price is manipulated a lot, if it get regulated can people start using it for everyday transactions, then the price shouldn't be much volatile, also bitcoin can't handle a big number of transactions at a time, so mainstream adaption will require changes in it and more transaction speed will be needed.

For now, bitcoin and other cryptocurrency still have weaknesses, maybe because of that. Bitcoin or other cryptocurrency requires regulation. So that the weaknesses are not used as a gap for people who have evil intentions

Indeed not appropriate controls is a worry for bitcoin, but rather it's greatest shortcoming is high value unpredictability on the grounds that bitcoin's cost is controlled a ton, on the off chance that it get directed can individuals begin utilizing it for regular exchanges, at that point the cost shouldn't be much unstable, additionally bitcoin can't deal with a major number of exchanges at once, so standard adaption will require changes in it and more exchange speed will be required

I think the weakness of Bitcoin now is regulation. Of course but it depends on policy. For me, the governments can not all aspects of their countries. Like banned drug, the crimes also continue to trade drug all around the world. However, the government will have right direction for your country in order to develop as much as they possiple. Just believe in your government.

There are some weakness of Bitcoin but I want to mention most is the security. Because the government don't complete interrupt in Bitcoin so investors protect their assets themselves.  I saw some phenomenons which investors were hacked bitcoin in their wallets. Have we ever had the best wallet which can avoid being stolen Bitcoin? I hope that there will be a way to improve that weakness.

One of the most weaknesses of Bitcoin is legal acceptance from goverments all around the world. Now, only over 60 countries where people can be free in trading Bitcoin and no taxes. But the rest of countries in the world have banned Bitcoin and even have neven heard from Bitcoin. I wish bitcoin would be known and accepted in more countries so that many people can take advntages from Bitcoin

for me, the weakness of bitcoin is the risk that investors who invest in bitcoin anticipate with these weaknesses is a belief and patience that is quite large also proportional to the risk obtained

Wallet security is managed by the users and got nothing to do with Bitcoin technology. In fact, it is not that easy to hack a bitcoin wallet secret key by brute force.

I totally agree. to start governments need to regulate the exchange, to make periodic inspections in the exchange, require license and require that each exchange has a physical office. ICOs will be the biggest problem to regulate them, but it is not impossible to regulate them. With more advantageous regulations for bitcoin, banks and companies such as VISA and Mastercard could once again allow bitcoin debit cards and virtual cards.


This will be possible with regulation


ETH

XRP

EOS

NEO

If a good regulation applied in bitcoin, i will agree if it is for the better of bitcoin in our society. But if the government create regulation to limit bitcoin function, i won't agree. The biggest bitcoin weakness for me is the block time, you cannot send bitcoin to the others instantly.

online wallet security and lack of proper knowledge of common people - we really need to find a way to help them understand bitcoin.

Negative publicity as well as regulations against its adoption is a huge problem. If Bitcoin is to achieve mainstream adoption for everyday use, there needs to be some form of lobbying and PR. If there isno deliberate publicity stunts and some form of lobbying, those who are fanning the embers of fear, and thereby discouraing its mainstream adoption, may hold sway...at least for long.

The weakness of bitcoin I think is only in a limited amount, the impact is that if all bitcoin has been mined and makes prices higher due to scarcity, I'm not sure for people who have little money can still buy bitcoin. I believe that if the price of bitcoin is very high then there will be a minimum limit to buy the amount of bitcoin, so this will cause everyone very hard to have bitcoin and maybe they will turn to the altcoin.

The biggest disadvantage of bitcoin in companies is money laundering, here they are easy to do as the safest transactions if they do money laundering, and their second weakness can lose their wallet without anyone being responsible

I would say that there is no authorized central body to control any sort of scams or scam projects being carried out in bitcoin. Also, there is no one to fix a legit fee for wallet transactions or exchanges and they fix their fee as they wish.This might become a very big drawback in future when more people tend to enter the bitcoin market.

I agree , but also its the risk- not knowing if you will lose everything with every step you take.

Instability and risk is normal for bitcoin   , so i think both of them is not really a weakness but rather you can use them as an advantage ot be able to make a a profit from this market  .

Imo i think bitcoin biggest mistake is none . yes you heard it right .  for me bitcoin dont have mistakes because it is already succesful. If ever we loose , then that is not the fault of bitcoin anymore but rather it is already our own mistake .

You speak correctly! It's the fault of consumers that crypto currencies behave this way. All that we consider to be shortcomings of the cryptocurrency is its merits, for which we love it. Let's see the positive points in that allows us to earn!

Without regulation we can still use bitcoin on mainstream as it already happened. Just giving the authority and approval from the government is okay even without anything to say crypto as long as its not prohibited.

I agree that payments need to be processed quicker in order for everyday purchases to be made.. For example, PumaPay (https://t.me/pumapay_news) is an interesting project to watch out for. They're trying to integrate crypto payments into everyday life therefore make life easier for a lot of people! So I think everyday payments are on the way. This is just the beginning for crypto integration I think!! I believe there's a lot of room for improvement in coming years of course. 

There is nothing wrong with the technology, but there are definitely a lack of commitment from merchants to market it properly. If you want customers to support your site or your shop, then you must market Bitcoin properly. I see too many merchants with staff that are not properly trained to support Bitcoin payments and not enough "specials" for people who use Bitcoin as a payment option.

Too many people are also sitting on their asses, waiting for other people to promote Bitcoin.  >:(

As far as weakness are concerned, there is the fact that it needs more adoption in various areas. But there's also the facts that it's not backed by anything tangible (aka, no intrinsic value), and prices can be prone to manipulation it would seem. Greater security for exchanges also seems to be a must, considering all of the large-scale hacks we've been hearing about. A cool technology that can open up many different possibilities, but caution is also to be advised, particularly when investing.

Cyberius

Weakness of trader and Big investors buying and selling their bitcoin and dumping its price. So the price of bitcoin is being weak and falling down its value and also it volume.

By the way ... there is another thought ... about whether the entire power of the US Army affects the fact that the dollar is the most important fiat? I think that it has very little effect. Like the size of the national debt, like the banking system of America. Why? But let's take, for example, Switzerland. Their franc enters the TOP7 of the best and steepest currencies in the world. Now compare the size of Switzerland and America, the number of people, and the number of submarines with atomic bombs. Well, that is, I want to say that small Switzerland was able to raise the prestige of its money almost to the level of the United States. Without any rockets, bombs and aircraft carriers. Therefore, I believe that the most important thing is TRUST to an intangible asset. REPUTATION. Which has been conquered for centuries. Trust is the rule of the world. But the bitcoin still has everything ahead ...

Everything through online right now. And almost every product are include in it. Bitcoin is profitable but we must pay attention to the wallet. Sometime our wallet can be lose without knowing at all.

The rest of the countries in the world have banned Bitcoin and have never heard from Bitcoin. Online wallet security and lack of proper human knowledge - we really need to find ways to help them understand bitcoin. If Bitcoin is to gain formal acceptance for daily use, there must be some form of lobbying and PR.

Regulation of course is necessary, otherwise there will be a complete anarchy and fraudsters will increasingly deceive people. Over time, there will be regulation when the market grows for this.

at the moment it is manipulation. no TA is really working, so a reliable predictive results are not possible. and that scares people.

If Bitcoin does not have intentional open stunts and some form of lobbying, people are fond of the fires of fear, and thus discourages its orthodox acceptance, can hold influence ... at least long. I believe that if the bitcoin price is very high then there will be a minimum limit to buy bitcoin, so this will make it very hard for people to have bitcoin and maybe they will switch to altcoin. Just for government and government approval is okay even if there is nothing to say as long as it is not banned.

in my opinion, not yet legal, bitcoin is the only weakness of bitcoin. because bitcoin is not legal, it has no legal protection in the country or the world. Hopefully this weakness will be closed ...

Bitcoin is the only digital currency that has stood the test of time. The only barrier remaining for bitcoin to cross is mass adoption and this is currently in progress and will definitely be achieved. Once this is ready then the sky is the limit. You will be able to spend your bitcoin for payments.

For me, ,the weakness of Bitcoin is once someone got access to your private keys, then it's time to say goodbye to your funds. One more weakness is that the government is currently targeting cryptocurrencies (bitcoin is included), wherein they are saying that the anonymity of a person when making a transaction using bitcoin is a threat to a country because crimes can be easily made because of this.

Get realestate investors in on bitcoin.Its kinda the same bitcoin and real-estate it changes hands but its here to stay
also they both use the N factor the more users the higher the price the more people the higher the price

I can see your point. But surely you can see the burning potential of using cryptocurrencies? There are so many opportunities/ avenues using blockchain technology can go down. Utilizing this tool could be a breakthrough for many issues with the current payment system today! For example, check out what PumaPay Cardano and Request Network are trying to accomplish. See this for more clarification: https://www.youtube.com/watch?v=STmhHjQY_O0

There's a lot of weakness of bitcoins. First, there is no central authority. Although no central authority is a plus, it could also become a negative. If you lose your Bitcoin for any reason, you have no recourse to get your bitcoin back. You are responsible for keeping safe the Private Keys and Passwords that protect your Bitcoin Wallet. If you forgot or lost these, you could become permanently locked out of your own Bitcoin Wallet.

It's BTC.

Bitcoin is almost perfect for being a digital currency and Bitcoin is just waiting for mass adoption from all countries to become accepted currencies in all countries but volatility is a small weakness for Bitcoin and not the main because volatility has become part of crypto market movements. In addition, people who have used Bitcoin have understood how Bitcoin works in the crypto industry and does not really give importance to the problem of weakness.

There is nothing wrong with technology, but there is certainly a lack of commitment from merchants to market it properly. If you want customers to support your site or store, then you must market Bitcoin properly. Too many people are also sitting on their donkey, waiting for others to promote Bitcoin. But there are also the truth that it is not backed by anything tangible and that price can be easily manipulated it seems. A great technology can open up many different possibilities, but be careful, especially when investing. Like the size of the national debt, like the US banking system. Now compare the size of Switzerland and the United States, the number of people, and the number of submarines with atomic bombs. So, I believe the most important thing is the trustworthiness of an intangible asset. Faith is the rule of the world. The rest of the world has banned Bitcoin and never heard from Bitcoin. If Bitcoin is to be officially accepted for daily use, there must be some form of lobbying and PR. Over time, there will be regulations when the market develops for this.

We all know that bitcoin is a decentralised crypto currency and so there is no such proper authentic regulating body over the bitcoin who could keep eye over all the bitcoin activities and thus leading to illegal use of bitcoin like in selling drugs, explosives, money laundering etc and I think this is the biggest weakness of the bitcoin as an industry as this is the prime reason why so many countries are in against of bitcoin and does not want that it will get centralised all over the world.

I can say that the bitcoin 's weaknesses so far, is the issue of its scalability,  interoperability and security.
This issues are some of the factors contributing to the low adoption rate of the bitcoin technology in recent times.

Biggest weakness?

Public perception!

The broad public perception of Bitcoin is either incorrect or antiquated. People think bitcoin is corrupt or a fad...it's the two extremes, it's rarely a more moderate perception, let alone accurate. People are scared or indifferent. How do we get more people to believe bitcoin is a "real thing" even if they don't like?

We need to talk about it more in regular conversation. Not trying to sell anybody but just saying something as simple as "i bought [insert product here] with bitcoin the other day". The more casually we talk about it the more desensitized the broader public becomes to the idea...and that is the first step toward broader adoption.

Today I registered on one site to buy information materials for training. One of the forms of payment for these materials was Bitcoin. Materials have nothing to do with the cryptoworld, the site also. So bitcoin is slowly moving around the world.

 i don't know about weakness but when it come to the benefits we can speak more and more about it... 8) One of the things we love most about electronic transactions is the speed at which money can be moved around.
With our common credit and debit cards, it takes mere seconds for a transaction to debit money from an account and then transfer those funds to the recipient account.
Modern systems operate faster than an average cashier can accept a paper bill and make change, to say nothing of the time and effort wasted on driving to the bank to deposit hard currency.
So, with the speed aspect taken care of long ago, you would expect a newfangled thing like Bitcoin to raise the promptness factor to an even higher level.

I would like to pay for a cup of coffee with Bitcoin, but in my country it most likely will not happen as fast as I expect

You're right. First we need to eliminate all the problems that prevent the implementation of Bitcoin. But for some reason no one wants to do this. :(

We are talking about financial freedom, For bitcoin to achieve that vision of giving everyone that grab the opportunity financial freedom it does not need to be regulated. If bitcoin is regulated I bet with you that it will never achieve that.

I think it's biggest strength is it's biggest weakness and that is decentralized currency.Due to this people can't have complete faith to invest there hard earn money.Another thing is it is controlled by few giant investors making is more riskier and I think that is preventing it to develop it's authority.

I have not studied bitcoin in depth, but the biggest weakness I think is its further development. Now explain. In order to develop around the world, you need to cooperate with the governments of countries, this very much hinders bitcoin and its legalization. I think these are the main weaknesses of bitcoin.

Bitcoin and other currencies can not see the money market, and therefore not to win a serious place among the currencies of the world, not to become the main currency of accumulation and turnover in any country

security challenge is the irreversible nature of bitcoin. In the event of a theft, there is no third-party with the standing or authority to deal with the theft. The bitcoin genie cannot be put back into the blockchain bottle.

Biggest weakness is its new technology,it is hard for the people to understand how the bitcoin works and it is the thing restricting from mainstream adoption along with the volatility/Then the transaction speed is the biggest backlog of the bitcoin which may not be the case with some other crypto currencies.

bitcoin does not need regulations. Regulations are where authorities get businesses to spy and police customers. in short giving businesses a sherrifs badge of authority. which some people treat as a badge of honour or trust.. but reality is there are still corrupt police around. after all how did regulating banks protect people in the 2007-8 crisis. we need CONSUMER PROTECTION. where we, users. get to due diligence and KYC the businesses and we get to police the businesses. especially because those businesses will be getting our coins. regulations: let businesses tell customers what customers can and cant do with our money consumer protections: lets users vet and challenge and tell businesses what businesses should do with our money.

I agree with you. Everyone knows that the biggest drawback of Bitcoin is the low speed of transactions. As long as the author of the topic pays for his coffee, it'll freeze already.

I have not seen any good projects so far. because no one has a working proven product

I think it is a little difficult to understand and many people make it more difficult, I think we have to try to call the attention of people to join the crypto revolution but doing it in simple ways, do not have to know protocols, blockchain or wallets, simply focus on account numbers and transaction, something that resembles the banking system to be familiar with that.

nowadays people only believe in currencies that are recognized by their country or other international currencies. they still don't know about cryptocurrency which is bitcoin which can be used at any time, maybe in the future bitcoin will be accepted in the community

I think many people who do not want to accept money that is not official or not considered in that country. so they are also afraid of bitcoin. because bitcoin is long-term invested digital money. and some people want to get money fast. and don't want to wait patiently.

May be the raise and fall of the value be the biggest problem of the coin ,  people won't accept such type in industry

The adoption will significantly improve the cryptomarket. At least in relation to ICO. The order will come to the cryptomarket and it will be more protected, because it will be under state control.

I think bitcoin’s performance is reflective of some of the weaknesses it possesses. What are some of bitcoin’s weaknesses? One, its tendency to be hacked infected with malware. Two, bitcoin exchanges have failed because of fraud or government intervention. I think these are affecting the reputation and performance of bitcoin. Perhaps people are looking for a more secure cryptocurrency?

I'd say the biggest weakness is the fluctuation in price. A lot of new people are afraid to buy or use Bitcoin when they see the price drastically changing in fear of losing money.

gamers that live in their parents basement trying to get rich without having any life experiences such as most of you reading this.

Everything could be handled but the price manipulation is what gets me really pissed.
The whole point of bitcoin was that it was supposed to be equal for everyone.
I don't see that anymore, sadly!

There are many weaknesses of Bitcoin. One of the biggest weaknesses of Bitcoin is the energy cost of production. It is estimated that Bitcoin consumes 32 terawatt-hours of energy annually which is worth $1.6 billion and this almost equal to amount of electricity consumed by some countries.  This will deplete our natural resources much faster and degrades the environment. The worst is that these numbers will keep growing as more coins originate.

Regulation of the crypto market is a violation of the main purpose of crypto currencies. Bitcoin was created in order to get away from centralization, so that no one could take your bitcoin away from you or distribute it at its own discretion. So this is one of the main problem.
On the one hand, regulation should attract new investors to the market, on the other hand, because of this, the  idea of cryptocurrency is being violated.
Personally, I am satisfied with the market as it is, otherwise I would trade on the stock market.

I do not keep an eye on any special project, but for me the biggest weakness of the whole world of crypto currencies are the exchanges.
I think that their level of security (in many cases) is simply not as high as it should be. The exchanges are the backbone of the crypto world (together with the miners). The prices of the currencies are made there.
So they need the best possible standars of safety.
Every hacked exchange means another drop in bitcoin price, and with it more frightened people who question their engagement in the world of crypto currencies.
Keeping most of the coins in cold storage combined with state of the art software, that is something I would like to see as requirement to get the license for an exchange.
Of course that would make transaction times longer, but that is something I would accept in order to get more safety.

No I don't think but altcoin can be higher then bitcoin in coming days

I think its strength is its greatest weakness, being very difficult to regulate because of its decentralized nature, it depends entirely on the users to protect the security of each project or investment and as we have seen in recent years, that can be quite detrimental to investors less skilled in new technologies.

I believe that as it is a project that depends on people, the greedy nature of human beings affects this project, we can always see it with the scams, pumps and dumps and other tricks that are used to earn quick and easy money, that is one of the worst things that has bitcoin and cryptos in general.

It is open to speculation and you may experience a huge drop just in a day. It needs to an internal control system in order to avoid from price-slides. Also, it's not easy to buy or sell bitcoin.

Its decentralization is both a plus and a minus for it. Because of this, it is so slowly accepted as a currency and can not fully realize its full potential.

The market should be regulated anyway.In another case, the development of the cryptocurrency will not happen.Bitcoin is the brightest and most promising star of the crypto-currency world, first of all I assess the situation on it.I don't know about coffee,but I would like to buy a house or a car for Bitcoins.If he can't do it,so can the other coins.

In my own opinion bitcoin's greatest weakness is the ability of whales🐋 that are able to control bitcoin's price which affects people with smaller amounts of Bitcoin

One of the aspect of Bitcoin which poses weakness to its industry is its ability to draw a balance between the currency aspect and the investment aspect of Bitcoin. Bitcoin was created to be a currency but it appears there has been a paradigm shift to its investment aspect to the neglect of the currency aspect. This has reduced the daily usage of Bitcoin in the purchase of goods and service, quite shifting its from its goals.

Indeed there are still many people who don't know about bitcoin. Even many have never heard of bitcoin. But it's a challenge that must be popularized and educated about the benefits and workings of bitcoin. The biggest weakness of bitcoin is that the owner is anonymous, so it is misused to hold illegal funds.