What do you think are the biggest disadvantages of Bitcoin?

[batang_bitcoin]

i think one of the disadvantages affecting bitcoin right now is the high fees  we need to pay if we want our transactions to be confirmed faster and their is also some division in the crypto on working out whats best for the cryptocurrency because of some personal agendas tied to it

I don't find the fees as high because it needs to make your transaction fast and if you don't want to pay high fees there are options on it but you need to take the side effect of it that your transaction will not be confirmed immediately. I don't have any issues against the fees, it's a normal thing that a miners needs to earn from their work.

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[whizter]

Freedom is the strength and weakness of bitcoin. It is easily exploited to commit violent acts, many articles have been written about this before. Bitcoin is used in money laundering, illegal trading and transportation of illegal goods. Bitcoin is used as a tool to carry out offenses. That is a very bad thing for a coin. Its reputation is greatly affected.

but i do not think that it is the weakness of bitcoin, i think it is the property of bitcoin to remain  as anonymous and not as centralized currency of the world. i am hopeful that bitcoin will continue its property for ever.

[btcney]

What's preventing Bitcoins from being accepted as mainstream payment forms? I'm working on a new blockchain and would like to learn what drawbacks of Bitcoin urgently need to be improved

Scalibity.

The main problem with bitcoin compared to altcoins is that it is getting increasingly hard to get transactions confirmed with a low fee. I mean if you look at it now compared to before with the high bitcoin price it'll take around $0.7 at least in fees just to be sure that your transaction will be included in the first possible block.

Once bitcoin gets over that hurdle all will be well.

[boyptc]

Freedom is the strength and weakness of bitcoin. It is easily exploited to commit violent acts, many articles have been written about this before. Bitcoin is used in money laundering, illegal trading and transportation of illegal goods. Bitcoin is used as a tool to carry out offenses. That is a very bad thing for a coin. Its reputation is greatly affected.

but i do not think that it is the weakness of bitcoin, i think it is the property of bitcoin to remain  as anonymous and not as centralized currency of the world. i am hopeful that bitcoin will continue its property for ever.

I believe that freedom is one of the strength of bitcoin and it's not it's weakness. Even fiat money are exploited for committing shady transactions and deals and they are just seeing and using bitcoin because they can have good advantage by using it.

[crairezx20]

Freedom is the strength and weakness of bitcoin. It is easily exploited to commit violent acts, many articles have been written about this before. Bitcoin is used in money laundering, illegal trading and transportation of illegal goods. Bitcoin is used as a tool to carry out offenses. That is a very bad thing for a coin. Its reputation is greatly affected.

but i do not think that it is the weakness of bitcoin, i think it is the property of bitcoin to remain  as anonymous and not as centralized currency of the world. i am hopeful that bitcoin will continue its property for ever.

For there is no weaknesses of bitcoin except for no reverse payment and slow transaction because many scammers are using bitcoin as their source of income they are lie for their customer and run because of none reverse payment unlike paypal that you can reverse the payment.. but if i compare bitcoin and paypal i'll go in bitcoin because its more useful now a days..

[JasonXG]

All technology gets slowly adopted as it comes along. Bitcoin will take longer because it is a currency and backed by peoples hard work. It takes awhile for them to budge. It also involved politics and we all know how that goes.

[crypto.classroom]

The biggest disadvantages I feel are the slow verification of transaction time and that is would be a lot handier if more businesses took it for payments.

[YuginKadoya]

Bitcoin is not known by all, certainly back then there are a few people that have an access with the internet and I think that is the main reason why it didn't make it in the mainstream but this is only one of a lot of reason, and right now even if a lot have a certain access in this timeline many oldies just don't know how or what is bitcoin, a few country would not considering it and some ban bitcoin because of the uncontrollable fluctuation with it's price value that certain traders love! and well the biggest disadvantage that I am seeing well direct use of this currency because there are not much to offer when it comes in buying certain needed stuff in the stores near you!

[DLbei638]

decentralization,I think it is the biggest advantage of bitcoin, is also the biggest disadvantage.
Decentralization means that all nodes look like a mess of things. It is impossible to interfere with the development of the system with a specific external force, and it is impossible for you to get the direction of the future even if you interfere with it. The development of Decentralization systems is unpredictable.

[Yatsan]

I think the biggest disadvantage of bitcoin is the long time to confirm one transaction

yes its true, you got a point, some bitcoiners are too tired too wait until the transactions are over, and if it is done it has sometimes big transaction fee that causes to lesses the amount of payment they are receiving.

that is why people should not use Bitcoin. They should use altcoin instead because altcoins are more awesome and have more features and advance technologies than Bitcoin. Bitcoin is just a leader and soon, it will be replaced by other cryptos

That is true the most disadvantages of bitcoins is the traffic of the transactions in the network. Because I can see that many transactions are being delay because many transactions are being made in every seconds. But as far as I know some wallet are adding fee to prioritized the sending and the receiving of that specific transaction. So I think it has been solve but the solution is not that good.

[speem28]

For me, the fact that it is still not accepted in other countries and people still not knowing about it is the biggest disadvantages of bitcoin. If only bitcoin will be widely accepted and people start using it, I'm sure other problems regarding bitcoin will surely have a solution that will benefit all of us.

[Tyrantt]

For me, the fact that it is still not accepted in other countries and people still not knowing about it is the biggest disadvantages of bitcoin. If only bitcoin will be widely accepted and people start using it, I'm sure other problems regarding bitcoin will surely have a solution that will benefit all of us.

It's a low number of countries where bitcoin is not accepted but people can still use it online tho not as public. More people not knowing about bitcoin is a bigger issue in my opinion but that's just a matter of time now since with every new day some big businesses implement bitcoin as a payment option and some wealthier people investing into bitcoin (example: https://bitcointalk.org/index.php?topic=1880445.0)

[AjithBtc]

I think the biggest disadvantage of bitcoin is the long time to confirm one transaction

yes its true, you got a point, some bitcoiners are too tired too wait until the transactions are over, and if it is done it has sometimes big transaction fee that causes to lesses the amount of payment they are receiving.

that is why people should not use Bitcoin. They should use altcoin instead because altcoins are more awesome and have more features and advance technologies than Bitcoin. Bitcoin is just a leader and soon, it will be replaced by other cryptos

That is true the most disadvantages of bitcoins is the traffic of the transactions in the network. Because I can see that many transactions are being delay because many transactions are being made in every seconds. But as far as I know some wallet are adding fee to prioritized the sending and the receiving of that specific transaction. So I think it has been solve but the solution is not that good.

This doesn't looks to be major disadvantage, because this happens only at times when unexpected price rise and fall happens creating a lot buy and sell orders. This sudden increase in transaction cause a traffic, which makes the entire network go down. This gets sought in a few days time when the price gains stabilty.

[rikybrosh]

For me, the fact that it is still not accepted in other countries and people still not knowing about it is the biggest disadvantages of bitcoin. If only bitcoin will be widely accepted and people start using it, I'm sure other problems regarding bitcoin will surely have a solution that will benefit all of us.

That Is the problem for people who live in place which no merchant that accept bitcoin. But for people who live in san fransisco that is not be a problem. Just wait until all people know about bitcoin. I am not really sure that bitcoin has a dissadvantage.

[crwth]

The probable drawbacks of it are that it's not widely accepted and some people don't try to understand it at all. Seeing what they try to make of Bitcoin is it has some kind of a bad name because of the possible usage of it in illegal things, money laundering for example.

[Dimelord]

What's preventing Bitcoins from being accepted as mainstream payment forms? I'm working on a new blockchain and would like to learn what drawbacks of Bitcoin urgently need to be improved

The time taken for the transaction confirmation is more which makes it practically difficult for merchants to accept bitcoins.
The high price fluctuation in bitcoin is also a reason.
Merchants may fear that governments may regulate bitcoin and their transactions would be tracked.
The merchants fear that tax may be implied on their bitcoin earnings.
These are some factors which stand as obstacle in bitcoin from being accepted as main stream payment.

[DoublerHunter]

The probable drawbacks of it are that it's not widely accepted and some people don't try to understand it at all. Seeing what they try to make of Bitcoin is it has some kind of a bad name because of the possible usage of it in illegal things, money laundering for example.

That is not disadvantage of bitcoin because that is very normal for every kind of things in the internet or even in the real world, bitcoin is still young and we can't force other people to immediately adopt bitcoin without showing them the results and the advantages of using bitcoin. The only disadvantage for me of bitcoin is being limited on its supply because it means limited adoption for countries.

[Fatanut]

For me, the fact that it is still not accepted in other countries and people still not knowing about it is the biggest disadvantages of bitcoin. If only bitcoin will be widely accepted and people start using it, I'm sure other problems regarding bitcoin will surely have a solution that will benefit all of us.

The number of people using bitcoins is increasing but do you see any improvements in the bitcoin transaction time and fee? Because I don't. I don't see the correlation of bitcoins going mainstream to the solutions of bitcoin's problems. Sure when bitcoin becomes popular, there will be new IT people or even better one. But if there's a guy that can solve bitcoin's problems, he should've informed blockchain already about it and negotiate the price of his idea.

My theory is that the cryptocurrencies would be just like the means of transportation that we have. If a train station gets overcrowded, other companies create other ways to transport and other people use those instead. Meaning to say, when the bitcoin transaction time and fee didn't get solved in due time, people will stop crowding themselves in bitcoin's queue and just use a different cryptocurrency. But of course it comes with risk like the coin going down all of a sudden.

[Jrock]

The only disadvantage of bitcoin at a moment is that it is not accepted at offline places like restaurants or malls where we can spend them to buy food or clothes and apart from that I don't see any disadvantages attached with bitcoins.

[AK47-]

I think the biggest problem is awareness. Most of the people are not aware of it. In my locality people even dont know bitcoin exists. And some people who know about bitcoin dont believe in it because for them bitcoin is still a digital currency which is used in illegal activities.