What do you think are the biggest disadvantages of Bitcoin?

[zoho]

What's preventing Bitcoins from being accepted as mainstream payment forms?

people are used to their old ways of doing things, they don't usually want to change and give up using banks and third parties to do business. besides bitcoin is still new and it is not even capable of handling mainstream payment. we are having trouble handling transactions as it is, and apparently consensus can not be reached anytime soon.

many peoples are not used cryptocurreny.so it is fully developed in all country.bitcoin is open server all the peoples see the transaction .so it is not secret saving method.

[abel1337]

I think the biggest disadvantage Bitcoin have is that it is used for too many illegal activities. The are no laws or regulations which protect bitcoim users from criminal, they have to defend themselves against criminals. And because of no government protection, many bad people use Bitcoin to build a ponzi scheme investing project in order to steal investors's money

I think thats a problem but for me its not the biggest, We cant blame satoshi nakamoto for making bitcoin anonymous, He is the reason why we are in here now, Discussing as anonymous people.

[Xenophoto]

I think the biggest disadvantage Bitcoin have is that it is used for too many illegal activities. The are no laws or regulations which protect bitcoim users from criminal, they have to defend themselves against criminals. And because of no government protection, many bad people use Bitcoin to build a ponzi scheme investing project in order to steal investors's money

That's actually a good thing. If you don't protect yourself, people would take advantage of you. You have to adopt the environment. Otherwise, you'll get scammed every time you try to have a transaction with someone. This way, we have to educate ourselves which is a really good thing imo. It makes you have the instinct of not trusting someone too much in the bitcoin world and in real life as well. It makes you smarter when having transactions.

[RajaJudi]

In my opinion, the problem is that miners can not solve all transaction in a day. Let's think about the future when people around the planet using Bitcoin, how can miners manage to confirm every transaction in a week ? Will Bitcoin still be fast as it is at present ? There are to many questions need to some from this problems

[CyberKuro]

I think the biggest disadvantage Bitcoin have is that it is used for too many illegal activities. The are no laws or regulations which protect bitcoim users from criminal, they have to defend themselves against criminals. And because of no government protection, many bad people use Bitcoin to build a ponzi scheme investing project in order to steal investors's money

That's actually a good thing. If you don't protect yourself, people would take advantage of you. You have to adopt the environment. Otherwise, you'll get scammed every time you try to have a transaction with someone. This way, we have to educate ourselves which is a really good thing imo. It makes you have the instinct of not trusting someone too much in the bitcoin world and in real life as well. It makes you smarter when having transactions.

You're right, we should know how to defend our wealth against scam and thieves.
I think for now the biggest problem is block size that doesn't allow miners process so many transaction faster which lead to higher fees if you want faster confirmation. This problem could make bitcoin look unattractive to new users with high fees and may stop or reverse global adoption, investment, development, and support.

[dothebeats]

Biggest disadvantage? Being a technical asset and needing to learn some important facts before keeping it whereas in cash/fiat you don't need to really understand everything before you use t. Because of this, many people are not reallb keeping up into using bitcoin, hence slowing down the potential adoption growth.

[daringdiscovered]

The biggest disadvantage of bitcoin for me is its not that known to many people even if it has a huge value. People around me don't know what it is. They think i'm crazy and the money i earn from bitcoin is from bad things. I wish many people will know about it and people around me regret what they've said.

[Shenzou]

the reason why bitcoin has not been used as an international currency is that because of the way circulates around the internet, the fact that your bitcoin wallet address changes every day makes it practically impossible to trace down where the bitcoin is going , and the fact that bitcoin is so unstable in terms of price makes investors afraid to invest in it, and also using bitcoin is anonymous which opens up a lot of possibles illegal action
that is why drug dealers and hackers use it on the black market.

[Siftanfib]

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

Mainly from what i think, bitcoin isn't being accepted in mainstream because of the high transaction times and sometimes network overload called spam attacks, if this problem gets solved, it will be good.

[PacePay]

I think for almost all of the users are happy with bitcoin and they want to use bitcoin as it is but some of the people are claiming that the confirmation timing is a problem for them to do instant deals for their purchases at their stores. For online shopping it is not a problem but if it is started to be used in offline stores then it will e hard for to wait for sometime in the store for the confirmation of the transactions.

[angaper]

In my opinion the main disadvantage of bitcoin is its usual volatility. In ordinary currencies losing 1% value in a single day can generate high pressure in local markets, but we can see in the bitcoin market frequent oscillations of 10% or more, and this mean a serious problem to use it as an ordinary currency.

[sportis]

In my view most significant cons are:

1. It is very difficult to be explained and used by people who have little to do with the internet and computers in general.
2. Too slow in relation to the credit / debit cards in daily micro payments that are more frequent at most people.
3. Perhaps hostility policy of various governments which have as their interest to defend their national currency.

[d@nte]

Most biggest disadvantage of bitcoin according to me is that if your wallet is lost then it cannot be recovered without any backup.

This is one of the problems, but it could not be different, if the user is the only person who has control of the coins. But the fact that the user is the only person with this control is one of the advantages of using Bitcoin. One way to avoid losing access to the wallets is backing up in multiple devices.

[staff_1307]

Lack of Bitcoins is that this is a new virtual currency does not provided, but to demand. If demand falls, the price for it, too, will fall.

[coolcoinz]

I'd say the wallets. Many people still find it difficult to find their way in the system that requires address management, backups and use of third party software to track the coins. Compared to a typical bank API it's at least three times more difficult. Of course it will change in time, the younger generation, used to smartphones, will call it user friendly environment.

[mrkevio]

The main disadvantage Bitcoin has is its popularity. Unfortunately it's unpopular in the world and we don't have many shops that accept Bitcoin, but on the other hand it's a good thing because we can still gather more people which would make the price and the volume rise. I'm expecting a lot of people to join in the next few years.

[shinratensei_]

In my view most significant cons are:

1. It is very difficult to be explained and used by people who have little to do with the internet and computers in general.
2. Too slow in relation to the credit / debit cards in daily micro payments that are more frequent at most people.
3. Perhaps hostility policy of various governments which have as their interest to defend their national currency.

1. Mostly on the 3rd country.2. The fees is so high and it makes the people wasn't using it right now. 3. If they can't realize the bitcoin as a digital option and I don't see something was becoming cons, if they can do that. They just keep the image.

[SvenBomvolen]

   Who am I to judge, bitcoins are perfect for internet and online payments for now. I see some problems that bitcoin have, long confirmation time, its not yet ready for 7 billion people, some countries don't have nice opinion about bitcoins, problems not disadvantages.
   

[Herbet Fry]

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.

The concept is actually very easy to understand. There is fluctuation but I dont see this as a bad thing.the waiting time does such but some banks can take over a day if the bank is not the same as the one ita being sent to so bitcoin is pretty fast.

[carlisle1]

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 is not yet introduced or adapted in other countries as a new way of payment system and maybe the unstable price and only a small percentage of world population already knows about it. also there's only few bitcoin atm and it is not yet able to use directly we still need to convert it to fiat nothing else for me aside from that.