the advantage and disadvantage of Bitcoin

[bitraine]

It does have many advantages, Bitcoin does not require a central party to facilitate transactions or confirm account balances. the peer-to-peer functionality of cryptographic money which makes bitcoin so useful.

Disadvantages. This is mostly du to the fact that Bitcoin is still a relatively young and new currncy

[quentincole32]

So, what do you think the advantage and disadvantage of Bitcoin? what about people around you  think about Bitcoin ?

bitcoin advantage : simple and fast payment,easy to get and register the wallet or account
bitcoin disadvantage : hard to accept in every store or online store
people around me are welcome to bitcoin,but they yet to try to use bitcoin.

[DimensionZ]

Advantages I think are it's anonymous and can be transported on your phone wallet and disadvantages are that it's volatile and can cost you money overnight.

[Amph]

i personally not see any disadvantages minus the only one that can concern the miners and their reward, which is related somehow with security

stuff like still no adoption, hard to accept and regulation, are not intrinsic disadvantages of bitcoin, those are problems related to the government with their shitty rules, not bitcoin itself

[bearex]

Benefits: low transaction fees, money is yours (not in a bank)
Cons: currently unstable price, time it takes for confirmations.

[lixer]

Benefits: low transaction fees, money is yours (not in a bank)
Cons: currently unstable price, time it takes for confirmations.

These unstable price problems will be settled down very soon once we see higher prices of bitcoin with more number of adoptions like main stream.
The price fluctuation of gold is not a problem for using it as a medium of exchange, same kind of flexibility for bitcoin prices also on the way.

[Whosdaddy]

Benefits: low transaction fees, money is yours (not in a bank)
Cons: currently unstable price, time it takes for confirmations.

These unstable price problems will be settled down very soon once we see higher prices of bitcoin with more number of adoptions like main stream.
The price fluctuation of gold is not a problem for using it as a medium of exchange, same kind of flexibility for bitcoin prices also on the way.

You are right. Even gold has unstable prices, we do not bother that for investing into it. Sam kind of mentality would come to bitcoiner's mind set when bitcoin is more popular. Ignoring the price fluctuation of bitcoin will help bitcoin to grow rapidly.

[Supercrypt]

Benefits: low transaction fees, money is yours (not in a bank)
Cons: currently unstable price, time it takes for confirmations.

These unstable price problems will be settled down very soon once we see higher prices of bitcoin with more number of adoptions like main stream.
The price fluctuation of gold is not a problem for using it as a medium of exchange, same kind of flexibility for bitcoin prices also on the way.

You are right. Even gold has unstable prices, we do not bother that for investing into it. Sam kind of mentality would come to bitcoiner's mind set when bitcoin is more popular. Ignoring the price fluctuation of bitcoin will help bitcoin to grow rapidly.

Yes, unstable price is mentioned by many people here as the disadvantage of bitcoin ecosystem. But I believe this as the time being problem, will be sorted out when bitcoin is becoming more established in terms of adoptions and value appreciations.

[delliaerd]

In my opinion, the advantage of bitcoin is the value of bitcoin . 1Btc can be 300 or 400 $ (not definite) and the disadvantage, what a difficult to get 1 btc but don't tired to endeavor

[Jeremycoin]

The advantage of Bitcoin is the anonymity, no one knows how much Bitcoin that we have. But it also the disadvantage of Bitcoin, because of it's we can't easily detect a thief because there's no trace of identity.

[Blind Legs Parker]

Here is what I could gather from my own thoughs and other comments in this topic :
In blue: what is inherent to bitcoin.
In green: what has to do with the present situation and can (will) change in the future.

Pros:
- decentralization allows people to free themselves from the traditional banking system as well as governments.
- price fluctuation makes traders happy.
- cheap transactions make everyone happy (at least outside of EU, because inside it's already cheap with traditional banks).
- bitcoin can provide acceptable degrees of anonymity (from 0 to almost complete, depending on how you use it).
- enormous potential with limited risks for investment.
- after bitcoin gets broadly accepted by the people and it's price stabilizes, it will offer high levels of reliability in case of economic krash.

Cons:
- price fluctuation frightens average merchants (this will get better as bitcoin gets more and more broadly accepted).
- requires some learning time.
- implies stress, as you are your own bank, which can be very stressful if you're not tech-savvy
- slow confirmations.
- the anonymity is a double-edged sword that makes life easy for black markets (as well as terrorist groups).
- we are still in bitcoin's early days and no one could tell for sure that's it's not going to krash if people lose faith in it.
- the economic model of bitcoin is a deflationary one and can't ever be modified but there's no consensus amidst econmists as to whether this system is practicable in the long run.

Cons seem to be more numerous then pros but they are, for the most part, of lesser importance too (slow transactions and learning time are no big deal), at least as the situation is now (let our descendants worry about what future economic models will be).

[bob123]

The fast transaction times and low transaction fees are big pros of btc..
In my opinion, there arent too much disandvantages.. since its secured by the law of universum 

[extrabyte]

The advantage of bitcoin is that you have a type of freedom with your money, less fees on higher transaction and fast when comparing to western union.

[dollarneed]

Benefits: low transaction fees, money is yours (not in a bank)
Cons: currently unstable price, time it takes for confirmations.

These unstable price problems will be settled down very soon once we see higher prices of bitcoin with more number of adoptions like main stream.
The price fluctuation of gold is not a problem for using it as a medium of exchange, same kind of flexibility for bitcoin prices also on the way.

The unstable price might be a one of advantage for some people including me to take profit from bitcoin's volatility by trading Bitcoin at Bitcoin exchanges, buy low and sell high is the key. But actually the unstable of price can be solved by using bitpay's service, just saying

[Luqman]

The fluctuative price is the main reason why people still scared with bitcoin, but for me we can used that thing to get profit.. 

[SulphurXX]

For me the advantage of bitcoin is having a fast transaction without lot of effort and cost , the disadvantage sometimes account is hackable / wallet , sometimes its  hard to explain to other people that bitcoin can transferable to real money, lot of country using bitcoin to purchase something you want but here in my country are not and still not talking and innovating.

[cellard]

the biggest con/disadvantage is for sure the learning curve.
Especially if your not computer savy. Its hard to explain to
a lot of older people even how to check their email let alone
understanding what btc is and what to do lol.

I don't think old people will ever get Bitcoin to be honest. My mother still has no idea how to check email, my dad barely knows how to use a computer, let alone grandads lol. I think the older generation is too separated from all things technological unless they grew up studying computer science or something related to their job.

[dhimasnk]

Bitcoin advantage is faster and cheaper transactions, the losses if prices suddenly plummeted. People around me still considers the BTC as a fraud

[Hashminers]

Well for me I save some money and 25% of that I buy bitcoin. What I like is with holding with bitcoin that the price increase that is one of the advantages that I like and also with the low fees.

[delliaerd]

Bitcoin advantage is faster and cheaper transactions, the losses if prices suddenly plummeted. People around me still considers the BTC as a fraud

Bitcoin have so many advantages and features but also have disadvantage. If all people around you can superinted that disadvantage, bitcoin will become useful currency