What do you think are the biggest disadvantages of Bitcoin?

[ged00u]

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 dis advantage of using bitcoin is when the site got hacked and you can't even get your bitcoin back on you payment is will be in soon and if you are going to improve one make sure that it can be use to any merchants not only merchants but we cna use it as card as well like my country we are using our bitcoin as virtual card.

Well I don't suppose that this is caused by bitcoin itself, it's just because you choose the wrong sites to make transactions. But I think that this has lead to other serious problems and the most significant one is that people have the same thought with you. They all assume that bitcoin is somehow a way to spend money for nothing because it always takes away their money. And they won't accept the idea that this issue is not because of bitcoin so they try to stop the growth of bitcoin. This results in merchants can't have bitcoin as a way of payment.

[mrcash02]

Disadvantage of Bitcoin is that blockchain doesn't support many simutaneously transactions without the needed of increase the fee a lot. When many people start using Bitcoins on the world, it will be a serious problem, many transactions at same time will be inevitable, so people will have to pay high fees all day long? For me it's the main disadvantage of Bitcoin.

[Rinder]

There are two big disadvantages at bitcoin, one is connected to the high security, thats the time till the confirmations period, this is the general complain or issue that people would like to had some kind of solution. The other one is that bitcoin is being exposed deeply as dark currencie and well people does call it dark money and connected just to ilegal activities, till the day bitcoin clean its image this will always be the big problem around bitcoin.

[Harlot]

There are two big disadvantages at bitcoin, one is connected to the high security, thats the time till the confirmations period, this is the general complain or issue that people would like to had some kind of solution. The other one is that bitcoin is being exposed deeply as dark currencie and well people does call it dark money and connected just to ilegal activities, till the day bitcoin clean its image this will always be the big problem around bitcoin.

Yup the time it needs to reflect on to another wallet takes too much time. Maybe because of the huge increase of transactions per day that's why is now takes longer to process. For people who are not in rush to have Bitcoin than you won't notice that it takes a lot of time. Also let it be of they call Bitcoin a dark currency, they are the kind of people who only knows one side of the story.

[MFahad]

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 big disadvantage in Bitcoin is only its configuration system which always disturb us some time deeply .
Allover I think nothing in Bitcoin that can be bad or can be consider as an disadvantage of Bitcoin .

For sure it is every one transaction problem not only in bitcoin, so to make things clear bitcoin is not a burden to every users except to that one which is common though.

[Bitcoinsummoner]

I think the only disadvantage of bitcoin right now is the transaction size.. and the speed of the transaction it is not actually instantly it takes minutes before you receive or if you are pay a small amount it takes few hours or days.. The other thing for me is fine only the transaction is my problem because sometimes im halving problem pending transactions..

[daringdiscovered]

I think the only disadvantage of bitcoin right now is the transaction size.. and the speed of the transaction it is not actually instantly it takes minutes before you receive or if you are pay a small amount it takes few hours or days.. The other thing for me is fine only the transaction is my problem because sometimes im halving problem pending transactions..

I agree, it is really a hassle if we really need that bitcoin right now. Even if we pay some big fees it still takes time to confirmed our transaction. Other than that bitcoin is still the best currency for me. I wish in the future the transaction will be faster and many shops will accept is payment.

[Fatanut]

I think the only disadvantage of bitcoin right now is the transaction size.. and the speed of the transaction it is not actually instantly it takes minutes before you receive or if you are pay a small amount it takes few hours or days.. The other thing for me is fine only the transaction is my problem because sometimes im halving problem pending transactions..

I agree, it is really a hassle if we really need that bitcoin right now. Even if we pay some big fees it still takes time to confirmed our transaction. Other than that bitcoin is still the best currency for me. I wish in the future the transaction will be faster and many shops will accept is payment.

You can always switch to using other coins. It's much quicker if you use other coins but if you're going to cash out the money, you would most probably end up converting it into bitcoins first in an exchanger and then send the bitcoins to your bitcoin wallet. That requires much more actions than sending using bitcoins alone.

I think you should always save some coins in your wallet so you don't get pressured when you need some money. Just like you said, sometimes the transactions takes much more time than it usually does.

If you pay higher fees, your transaction gets prioritized and if it still takes time to get it confirmed, then surely the network was really slow at that time. Otherwise, paying higher fees will always shorten the transaction time.

[d@nte]

I think the accepting of botcoins by the stores, i think they are still limited. Theres this store that i know of and my friend has bitcoin though she said that they are not accepting bitcoin, we must first change it to real money.

This is a problem to be solved, but it is something that happens over time. When this happens, there will be a large number of users, but first there are problems that must be solved regarding the network, because Bitcoin needs to scale more efficiently.

[ilovefeetsmell]

I think the accepting of botcoins by the stores, i think they are still limited. Theres this store that i know of and my friend has bitcoin though she said that they are not accepting bitcoin, we must first change it to real money.

There's a lot of money transactions to convert your money and those legit transactions. Go and ask of well knowledgeable people on how to convert your digital currency into fiat currency. Maybe you asked a wrong person and he/she wasn't computer literate and they don't what is inside of bitcoin. Don't ignore the bitcoin because as time goes by, they will get more benefits in digital currency.

[MMA]

Disadvantage of Bitcoin is that blockchain doesn't support many simutaneously transactions without the needed of increase the fee a lot. When many people start using Bitcoins on the world, it will be a serious problem, many transactions at same time will be inevitable, so people will have to pay high fees all day long? For me it's the main disadvantage of Bitcoin.

i think blockchain support transaction on normal fee, but it take a little more time and when you increase the transaction fee the transaction become fast, i agree with you that this problem must be solve on time.

[abel1337]

I think the accepting of botcoins by the stores, i think they are still limited. Theres this store that i know of and my friend has bitcoin though she said that they are not accepting bitcoin, we must first change it to real money.

If thr store owner is your friend Try to educate him/her about bitcoin. Explain the advantages and disadvantages of bitcoin. And let the owner deside if bitcoin will have a positive impact on his/her store.

If bitcoin was accepted on his/her store i think people in your city will start getting curious and start finding a way on how can they start using bitcoins, And in future bitcoin can be famous in you place

[posternat]

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 big disadvantage in Bitcoin is only its configuration system which always disturb us some time deeply .
Allover I think nothing in Bitcoin that can be bad or can be consider as an disadvantage of Bitcoin .

I guess bitcoin there is nothing to worry about bitcoin, no bad to consider or disadvantages for that. Bitcoin is the best Digital Currency currently available.

[n2004al]

I don't see any. Maybe at the beginning needed some time and attention to learn in which way is used but for the rest none. Even the fact that is digital money is overcome from being used through the debit cards. So is the same like the other money. As for the fact that is not used widely this maybe come from the fact that is not official money.

[farhaan]

The time taken for confirmation message for a transaction is more.

It is the biggest disadvantage of Bitcoin

[delliaerd]

The time taken for confirmation message for a transaction is more.

It is the biggest disadvantage of Bitcoin

In my point of view bitcoin this is not the biggest disadvantages because it just a trouble problem that the mostly caused by too many spammning transactions doing by someone.
But at least you can avoid this by additional some fees of bitcoin transactions.

[millgates]

I don't see any. Maybe at the beginning needed some time and attention to learn in which way is used but for the rest none. Even the fact that is digital money is overcome from being used through the debit cards. So is the same like the other money. As for the fact that is not used widely this maybe come from the fact that is not official money.

Yeah I have the same thinking with you. I do not see any important disadvantage of bitcoin. Although the transaction time is litle bit long, but the transaction is world widely. Bitcoin transaction still faster than bank transfer that costly and difficult for transferring money in different bank.

[BeGoods]

I think the accepting of botcoins by the stores, i think they are still limited. Theres this store that i know of and my friend has bitcoin though she said that they are not accepting bitcoin, we must first change it to real money.

Lol bitcoin has become a real money dude you can exchange it for any money, because bitcoin have rate. problems encountered bitcoin is bitcoin not too well known so there's still a bit adopter in bitcoin, and bitcoin was not widely accepted cause, so bepatient dude bitcoin will become increasingly popular and you can buy anything with bitcoin in the future

[warwar]

I don't see any. Maybe at the beginning needed some time and attention to learn in which way is used but for the rest none. Even the fact that is digital money is overcome from being used through the debit cards. So is the same like the other money. As for the fact that is not used widely this maybe come from the fact that is not official money.

Yeah I have the same thinking with you. I do not see any important disadvantage of bitcoin. Although the transaction time is litle bit long, but the transaction is world widely. Bitcoin transaction still faster than bank transfer that costly and difficult for transferring money in different bank.

I agree! Though we could really say that now a days the transactions requires  time unlike before an hour or 2 before yyou received it but all in all it is faster than other transactions. But  sooner or later they could fix that. All in all i dont see any problems or disadvantage of bitcoin eversince.

[jak3]

i see the question as "What Would You Like If I where making  a new blockchain" anyway i would like if it has a offchain transaction system for blockchain-to-blockchain users so people do not have to pay tax and also the new vertion of the blockchain is rediculeas its not supported on the lower devices and its not that user friendly/flexible like the previous version was