Weaknessess of bitcoin

[Thamon]

The weaknesses of bitcoin isEveryone calculates at the same rate, New wallets vulnerable with old passwords via backups. Coin destruction..

[nazaididuan1]

BTC has no credit endorsement, and no one endorses and guarantees him.

The price of bitcoin is determined by the relationship between supply and demand, which means it is highly speculative.

This can lead to price fluctuations!

[paulaitwesley]

BTC is very small in the real world! People in many countries in the world do not know BTC, there is no way to use BTC!

And BTC's impact on the real economy is limited!

[imstillthebest]

BTC is very small in the real world! People in many countries in the world do not know BTC, there is no way to use BTC!

And BTC's impact on the real economy is limited!

Its not true. Bitcoin is not small infact many countries worldwide are now using it already. Bitcoin today is now verry famous and verry well known due its amazing features. However bitcoin do have weaknesses or disadvantages, few of them is bitcoin wont possibly work without the help of internet connection because bitcoin is a digital currency which means it needs an internet and electricity as well in order to operate the device.

[Yaunfitda]

BTC is very small in the real world! People in many countries in the world do not know BTC, there is no way to use BTC!

And BTC's impact on the real economy is limited!

Its not true. Bitcoin is not small infact many countries worldwide are now using it already. Bitcoin today is now verry famous and verry well known due its amazing features. However bitcoin do have weaknesses or disadvantages, few of them is bitcoin wont possibly work without the help of internet connection because bitcoin is a digital currency which means it needs an internet and electricity as well in order to operate the device.

There's  still a small percentage around the world that uses bitcoin as far as I know. Although its growing at a astronomical rate but I don't think we even have reached like 5-10% of usage globally.

Of course there are weaknesses and this are being taken advantage of hackers, scam artist , criminals and even terrorist. That's why government is very adamant to even accept bitcoin. although it has advantage for most of us, its just sad that there are also a lot of people who exploited it to their advantage.

[goldshops65]

There are many weaknesses of btcs they ca be sited in a book! But the most irritating is its roller coaster nature. none can predict its

[n0ne]

Rather than weakness it is good to analyze about the way its been projected to the universal use. Just consider the media, they very rarely indicate the positive images of bitcoin. Whenever a news is being telecasted in media, automatically it carries a negative statement behind it. When this changes, automatically the negative weakness gets saturated.

[octagonsaute]

The principle weaknesses of btcs is that it favours no legal empowerment and so everyone including criminals too acceses the system

[Ridwan Fauzi]

I think btc main weakness is its price volatility. Many wealthy individuals already have a hold with alot of btc which sometimes lead to price manipulation. It could be said that it is hard to predict what would happen next with its price and this issue will continue if there is no action to  take.

The volatility bitcoin price is not a weakness for me , but it is an advantage. It is not imagined if bitcoin price have a stable price, most likely bitcoin price will not reach $100 till now. Many investors who come to this place with the reason for bitcoin prices are volatile. With a volatile price, bitcoin offers a short-term profit.

Volatility bitcoin price will always occur,  remembering bitcoin price depends on supply and demand. Everyday there will always be a day trading that will give effect to the price. If you think that volatile bitcoin prices are a drawback, most likely you have never gained profit from this situation.

[Windybi]

I think the only weakness of bitcoin is that market capitalization is not big enough. When market capitalization is not big enough, the sharks can shake hands to control the market.

[boatswaincreditE]

Bitcoins are overall good just the weakness is that its virtual coin and cant be felt or seen

[nilstairsa]

I still havent found any weakness or drawbacks of btcs LOL

[zissmieus]

I do not think this is a bitcoin weakness, but it is precisely this that makes Bitcoin alienate those investors that it has a high price on the trading floor, Attracting hackers who are interested in money, they are ready to attack and steal money from investors.

[Epimetheus]

Like every other currency Bitcoin has also some weakness  which make it bad in the economic world. First is its slow transaction facility. ;)p Bitcoin network can't take the load of heavy transaction. Due to this many of its user suffer. Although Bitcoin is a advance thing but it is still not clear to many people. It has lack of understanding skill.  It volatile nature is one of its biggest weakness. Many investors looses their hope upon it due to this volatile nature. Another weakness of Bitcoin is its production and distribution which in ultimately connect to its volatile nature 

[tylerderden]

Like every other currency Bitcoin has also some weakness  which make it bad in the economic world. First is its slow transaction facility. ;)p Bitcoin network can't take the load of heavy transaction. Due to this many of its user suffer. Although Bitcoin is a advance thing but it is still not clear to many people. It has lack of understanding skill.  It volatile nature is one of its biggest weakness. Many investors looses their hope upon it due to this volatile nature. Another weakness of Bitcoin is its production and distribution which in ultimately connect to its volatile nature 

Production and distribution isn't connected to its volatile nature as the production of bitcoin is designed in such a way that it controls inflation rate of bitcoin and also the production rate of new coins gets halved in about every four years this is limiting the rate of production and hence controls the volatility of bitcoins and thus a stable price is made, but the main concern is the market FUD and negativity about bitcoin in the minds of people and that is responsible for the fall in price of bitcoin every time as whenever bitcoin gains momentum and starts to rise then news agencies start producing bad PR of bitcoin by saying it a bubble and that it will burst soon and due to which investors loose their confidence in bitcoin and sell their coins taking the market into a bearish market.

[yudi31]

Very risky lost or stolen
As a virtual currency, bitcoins are stored in the form of digital files or known as wallet files. In use, the wallet file is similar to the cash storage wallet function, that's the bitcoin weakness

[carlisle1]

In all of the goodness that bitcoin can bring to us. You only see its weaknesses. People aren't contented in the positive side of bitcoin but they usually look to its weakness. Bitcoin already proves that it is good in our  economy as well as in ourselves.

That's the thing there its not the good we see bit the bad, and its normal for us to know whether it will be worth it, we need to know if there will be more prons than cons, and I can still say that BtC having many good effects lifted it to top 1.

Leys nof forget that this thread was created and posted by op in early2010 meaning that time bitcoin is just started and people looking for assurances thats why they are seeking for answers in regards about the weaknesses of this coin so they can feel secure...

But as of today this people might have different outviews since bitcoin has proven it self that its not scam and all that he gave is profit,though some losses because of being weak lol

[SHAWN-MIDWAYS]

As you are new to bitcoin I am going to address what I think are the most important points you have stated. For point one I believe in the supply-demand concept. As there is increased demand but not much supply the price increase which is exactly what will happen as more and more people begin to buy bitcoin. For point 2 I believe that if yes bitcoin runs out then that will be the end of it, there are many cryptos ready to replace bitcoin , and I honestly believe that ETH has the potential to be one of the major coins to take over bitcoin if this does happen.

[osh5]

I feel a wallet vulnerable to theft is the most important aspect if we talk about the weakness of bitcoin. Some countries are welcoming the idea but others are restraining their citizens from it's use.
Let's see in coming times where it will take the world. 

[Kambal2000]

I feel a wallet vulnerable to theft is the most important aspect if we talk about the weakness of bitcoin. Some countries are welcoming the idea but others are restraining their citizens from it's use.
Let's see in coming times where it will take the world. 

The weakness of bitcoin that I am seeing is the demand itself, sometimes there are people who can easily believes in what they are reading just like the negative news that is spreading in the news, so there is nothing to blame when the price goes down but ourselves too.