What do you think are the biggest disadvantages of Bitcoin?

[sportis]

• Hugely anonymous, it is hard to trace the any people involved in any transactions

No it's not. It is only pseudonymous. IMO paysafe cards anyone buys from kiosks are more anonymous

• It has been used in past for illegal activities

cash has a long run to illegal activities but people remember only bitcoins.

• No one controls it, i.e, dependency on peer-to-peer network

this a disadvantage? Maybe for banks and governments; I see it as advantage

[rajasumi3]

the main disadvantage of bitcoin is that the price of bitcoins is fluctuating very rapidly.and the the account of bitcoins can be hacked now and then until and unless the security of bitcoin wallet is too tight ,goverment cant say  anything about it or neither totally support about it .

[zahra4577]

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

I think bitcoin is perfect system but two things that i think needs improvement are
1.Increasing fee of transaction and,
2.Delaying confirmation time that needed to be improved

[zahra4577]

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

I think bitcoin is perfect system but two things that i think needs improvement are
1.Increasing fee of transaction and,
2.Delaying confirmation time that needed to be improved

[Hung_Daddy]

Probably that you can't flip them right away for actual money

Takes too long :/

[Natalim]

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

I think bitcoin is perfect system but two things that i think needs improvement are
1.Increasing fee of transaction and,
2.Delaying confirmation time that needed to be improved

Well, that seems to be the problem anytime as base on experience I have a long time waiting with the confirmation of my transaction. But in overall I am still very positive that this is not a serious problem, the fact that there's a lot of business and leisure in online  that is possible because of bitcoin I am willing to accept some weaknesses like delayed of transaction. It's nothing since it does not happen all the time.

[Indijanos]

Probably that you can't flip them right away for actual money

Takes too long :/

well I can exchange them for fiat in a few moments, there is an online local service that buys/sells bitcoin and they're pretty fast, it takes them 30min from transaction for them to deliver the money. That's pretty fast if you ask me.

[FlightyPouch]

Well, there are some disadvantages of Bitcoin, and what i want to tell is the acceptance of Bitcoin. There are only limited stores that accept bitcoin and it is really not efficient. In my case, I convert my bitcoin to real money so I can buy the clothes that I want. If many stores are accepting Bitcoins, it is really efficient and it can be used by many people and I think the demand of Bitcoin will rise also its price. What do you think?

[Ryan Dugan]

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

I think the greatest disadvantage is being scammed. Too many btc scammers are running around.
So you want to make a new blockchain better then the current one ? That's a lot to take in but good luck to you.

[dearbesz1219]

For me I think the disadvantage of bitcoin is that if you don't have proper data connection, you/we cannot trade your bitcoin without it, and the next one was the fluctuation of the price especially if you are neophyte in trading it will be difficult for you to do it so well.

[The Sceptical Chymist]

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.

All of these thing, definitely.   But most importantly,  to me, is that there's no compelling reason to choose bitcoin over fiat when buying something--especially since in the US, the IRS makes you pay taxes on btc capital gains.   Sure you can ignore that,  but you do so at your own risk.

[delliaerd]

It is really hard to find bitcoin disadvantage becouse  the advantage of bitcoin for customer is too much. So I will explain bitcoin disadvantage for government and bank. Bitcoin transaction is un trace able so government can not  control or tax it. Bitcoin do not need bank, thats why bank really hate bitcoin. Centralization system make bank can control the money and monopolize big power of financial capital.

[Idrisu]

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 biggest disadvantages of bitcoin compared to other monetary currency are many. For me the most disadvantage is security, many people are not accepting bitcoin because they thought bitcoin or other altcoin are not secured. If hackers, scammer are dealt with then expect many organization to accept it. Bitcoin has a lot of advantages such as easy transfer, accept everybody and decentralization.

[Toplivecasinos]

I think one the biggest disadvantage of Bitcoin is that very few stores accept them. It requires you to be connected to the internet just to use it. Other are now that aware of it's existence.

[Rahees]

Hardly any places accept bitcoin as a payment, I mean high street shops. Another disadvantage is the fact that bitcoins price keeps changing, you never know you may wake up and make a huge loss.

[daringdiscovered]

Hardly any places accept bitcoin as a payment, I mean high street shops. Another disadvantage is the fact that bitcoins price keeps changing, you never know you may wake up and make a huge loss.

I agree, bitcoin's value is very volatile. It can make a big rise or drop within a week. If it keeps rising then it is good for us but if it suddenly drop, our bitcoin's value will also decrease. And bitcoin is not well known yet which it is difficult to use bitcoi directly to buy something.

[Teraboy]

I think the greatest disadvantage is being scammed. Too many btc scammers are running around.

The scammer can't get caught, It can't be taking other act for it.

I think bitcoin is perfect system but two things that i think needs improvement are
1.Increasing fee of transaction and,
2.Delaying confirmation time that needed to be improved

It will more reasonable if you try for reading the other explanation about that. Like delaying the confirmation it will depend on the block will take your transaction for give it a validation.

[iram3130]

Every new thing has it's own positive and negative thing. With respect to Bitcoins, it has lots of positive features than the previous type of currencies we have used. Although there is some fear about the transaction fees and delaying in confirmation because of many reasons like increased traffic from some websites, the major negative point is its instability. And another thing is that most of the people don't take it as a regular currency, they keep the savings in BTC and pray to get the rate increased. 

[xSkylarx]

Every new thing has it's own positive and negative thing. With respect to Bitcoins, it has lots of positive features than the previous type of currencies we have used. Although there is some fear about the transaction fees and delaying in confirmation because of many reasons like increased traffic from some websites, the major negative point is its instability. And another thing is that most of the people don't take it as a regular currency, they keep the savings in BTC and pray to get the rate increased. 

Yeah, everything can be use in good or bad. It depends on the person that will use it. I think why people don't take it as aregular currency is the difficulty of using it to pay when we go to grocery or buy something a store. There is no bitcoin atm yet on most some countries. So you have no choice but store your bitcoin and just use it when its really needed.

[el kaka22]

Hardly any places accept bitcoin as a payment, I mean high street shops. Another disadvantage is the fact that bitcoins price keeps changing, you never know you may wake up and make a huge loss.

Does your street shop accept card payments ? If yes, then most probably your disadvantage of 'not accepting' will be solved in one or two years. Do you feel gold's price fluctuation as a disadvantage to it. It is an advantage for many traders and in long term bitcoin is designed to have huge prices so never need to worry about fluctuations.