What do you think are the biggest disadvantages of Bitcoin?

[tosmartak]

For now the advantages are far fetched than the disadvantages to me except for its volatility as there is a limited amount of the coins and the demand for them increases by each passing day.
However, I expect that over time the volatility will decrease as more businesses, medias, and trading centers begin to accept it, leading to the price eventually settling down.
Presently, the way the price bounces everyday is outrageous mainly due to current events that are related to digital currencies.

Also, I wish someone can answer this my question. Is it possible for bitcoin server to crash? And if it does, what happens to all our bitcoin?

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[poplolnman]

Bitcoin is digital and anonymous prone to illegal transactions cannot be control by the government so the government will not allow it in some ways to become the mainstream currency and also bitcoin can be banned in that country.

they only look into the darkside , ignoring a lot of positive things and more helpful things to come. they are too busy collecting money as much as they can to build their own kingdom and have no time to think about bitcoin . illegal transaction could be prevented if they really want to think about it. unfortunately most government didn't do that , they even keep stating against bitcoin.

[prtty2gal2]

However, bitcoins is a hot virtual currency,
But the government and banks have not accepted it as mainstream currency.
So, the bitcoins can not be traded in banks and through routine measure of currency.
We should try to pursue govt and banks to accept it as any other currency.

I don’t think this as any reason. We saw that recently Japan accepted it as a medium of payment for the trade and China, Russia and India are looking forward for it to legalize it in the respective countries. After these proofs the concern of not making it a main stream currency don’t makes any difference to its value as with the passage of time it will become by its own by the number of its users.

[Rostadom]

Bitcoin is digital and anonymous prone to illegal transactions cannot be control by the government so the government will not allow it in some ways to become the mainstream currency and also bitcoin can be banned in that country.

they only look into the darkside , ignoring a lot of positive things and more helpful things to come. they are too busy collecting money as much as they can to build their own kingdom and have no time to think about bitcoin . illegal transaction could be prevented if they really want to think about it. unfortunately most government didn't do that , they even keep stating against bitcoin.

Name one government that has successfully prevented illegal transactions. I bet you can do years of research but you'll never end up having success on this. The reason? It's because it's possible. It's only normal that in a society, there are people that are too dumb or too unskilled to become a functioning adult. So they go to the easy way which is doing illegal things.

Even fiat money cannot be controlled by the government. If you were about to pay the drug dealer your money, would the government pop up of nowhere and prevent the transaction going on between you? It's definitely impossible to do, preventing illegal transactions.

On a side note, most of the time it's actually the government themselves that are doing most illegal transactions. So the idea is totally ironic.

[olarsson]

Core team is working against the BTC.

Problem of buying/selling BTC with fiat money.

[magmar]

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

It's their miner's fee. However, I have seen that they are reinforcing for that since miners are expanding as bitcoin market is growing which is great to prevent overpriced fee for every transaction. Hopefully, miners gets expand quicker so that fee is not even the problem anymore which would make people to use bitcoin over fiat money for online transactions.

[Eclipse26]

Not everyone trades In in Bitcoins. Secondly it's prices keep on fluctuatining. Thirdly the waiting time on transactions, also turns down people. Plus the concept of Bitcoin as a payment is difficult to understand for everyone.

I agree because nowadays the problem in the transaction time and fees are the main reason why people get mad. They didn't understand why its too long before it be done. About on the trading many users are not interested on it because its hard for them to understand thing that is happening there.

[stevano]

The trouble for me is only paid that everyone will be hard to understand in the transaction and will turn people off.

[CarnagexD]

For me the biggest disadvantage of bitcoin right now was its transaction fee. This is the big problem that bitcoin have today. Many people get disappointed because of the high transaction fee and the long time of waiting before it be done.

[lecongnhan123]

I think now, the biggest disavantages of Bitcoin is about its fees of each transaction, sometime it's higher than the amount wanting to be sent

[FasTroy]

I think now, the biggest disavantages of Bitcoin is about its fees of each transaction, sometime it's higher than the amount wanting to be sent

I strongly agree with you, Miner fees increase each day which it's too bad for bitcoin users. same as me, I used xapo wallet which transactions fees are too high around 5 or maybe 6$ for transaction. I think fees is the biggest disavantage when we talk about bitcoin.

[Fredomago]

I think now, the biggest disavantages of Bitcoin is about its fees of each transaction, sometime it's higher than the amount wanting to be sent

I strongly agree with you, Miner fees increase each day which it's too bad for bitcoin users. same as me, I used xapo wallet which transactions fees are too high around 5 or maybe 6$ for transaction. I think fees is the biggest disavantage when we talk about bitcoin.

that's right mate, its the fees that hurting every bitcoiners and its affecting the system if this won't be resolved or would not be decrease other alts will be step forward and grab the opportunity to be use by those traders and businessman who already understand the chain.

[AjithBtc]

I think now, the biggest disavantages of Bitcoin is about its fees of each transaction, sometime it's higher than the amount wanting to be sent

I strongly agree with you, Miner fees increase each day which it's too bad for bitcoin users. same as me, I used xapo wallet which transactions fees are too high around 5 or maybe 6$ for transaction. I think fees is the biggest disavantage when we talk about bitcoin.

Right now fee is described as a major disadvantage by most of the users. In reality what makes it bad is the minimum transaction fee, whether it's a low volume transaction or high volume transaction we're supposed to pay a good sum of transaction fee. Here the high volume transactors will be benefitted and the low volume transactors suffer. This is not an disadvantage, but an simple issue that can be sought easily.

[Aztek]

The main things that are bitcoins advantages are at the same time its' disadvantages. Independency and decentralization. There is no central body to control and regulate it and in financial world that is almost impossible and not acceptable. Also the speed of transactions could be disadvantage, cause sometimes they are very slow.

I agree bitcoin need to implemented for us users to experience its full depth in transaction and for its value. For now we can experience the shallow portion of the advantage of bitcoin on its price and transaction but bitcoin has so many possibilities and development to reach for me to make it happened independent and decentralization need to also exist. For a formal movement and stock control for bitcoin transaction.

[yoonah]

Bitcoin cannot be used to buy things physically, and also bit coins doesnt have authoritiea from the government so you cannot gurantee your valuation. A lot of people doesn't recognise what bitcoins is they are not aware of what it is.

[Xester]

Bitcoin cannot be used to buy things physically, and also bit coins doesnt have authoritiea from the government so you cannot gurantee your valuation. A lot of people doesn't recognise what bitcoins is they are not aware of what it is.

Well yes you cannot buy things physically telling the store owner or staff that you will pay them bitcoin unless their store accepts bitcoin as payment.  But for me it does not matter.  Well the best thing that the government has no authority and restriction through bitcoin every earned bitcoins will have no tax.  There is no need for us to be deducted by taxes. 

[geegaw]

In my personal opinion, I think the biggest disadvantage of bitcoin is the time of transaction confirmation and transaction costs. Most transactions if want to be confirmed quickly, it will have a very high cost and that cost makes us feel scared to face. If we do not want to spend too much on transaction fees, we can only wait, wait and wait, sometimes a few hours or days, depending on the volume of the transaction. This really is the terrible problem with us, it is also an obstacle to the future development of bitcoin

[stompix]

I think now, the biggest disavantages of Bitcoin is about its fees of each transaction, sometime it's higher than the amount wanting to be sent

I strongly agree with you, Miner fees increase each day which it's too bad for bitcoin users. same as me, I used xapo wallet which transactions fees are too high around 5 or maybe 6$ for transaction. I think fees is the biggest disavantage when we talk about bitcoin.

that's right mate, its the fees that hurting every bitcoiners and its affecting the system if this won't be resolved or would not be decrease other alts will be step forward and grab the opportunity to be use by those traders and businessman who already understand the chain.

The alts have been taking steps since 5 years ago and there is still nothing...
Nobody is accepting coins like doge or daesh or whatever.

And apart from some altcoin shills everybody understand this.
Bitcoin is all that matters. The rest are just copycats struggling for a pump and the waiting to be forgotten.

[hendra1988]

The BTC network can already process a much higher amount of transactions per second than it does today. However not entirely ready to scale for major network credit card levels. Work is being done to lift current limitations, and the the needs of a well-known future. From the beginnig, every aspect of BTC network has been in a continuous process of maturation, optimazation, and speliazitaion, and should be expected to remain that way for the next few years. As traffic grows, more BTC users can use lightweight clients, and full network nodes can become more spezialized services.

[Creepings]

In my personal opinion, I think the biggest disadvantage of bitcoin is the time of transaction confirmation and transaction costs. Most transactions if want to be confirmed quickly, it will have a very high cost and that cost makes us feel scared to face. If we do not want to spend too much on transaction fees, we can only wait, wait and wait, sometimes a few hours or days, depending on the volume of the transaction. This really is the terrible problem with us, it is also an obstacle to the future development of bitcoin

Yes it is a problem, but I don't see it as a hindrance to bitcoin future development, and what is the problem with the fees? .0001 I think is the good fee for now, it is not that big. I think maybe because you are just sending small amount of bitcoins, which is really a problem. I think these fees is not a problem, the problem is how will these coin be accepted by stores, even retailers. Confirmations will be fixed and I know that is close, but being accepted on stores, I think it is still far away.