What do you think are the biggest disadvantages of Bitcoin?

[jualidbitmixer]

The biggest disadvantages of bitcoin is only few people that know about bitcoin. When you want open a business about bitcoin, it will be hard to be accepted on your area. Because not many people know about bitcoin, like in my area, i think only me that know about bitcoins.

[1713581907]

1713581907

[Cactushrt]

The biggest disadvantages of bitcoin is only few people that know about bitcoin. When you want open a business about bitcoin, it will be hard to be accepted on your area. Because not many people know about bitcoin, like in my area, i think only me that know about bitcoins.

It's one of the disadvantage of bitcoins but I think no one would open a bussines accepting bitcoins if that's what you mean like you've said there are so many people who dont know bitcoin but few years from now bitcoins will become popoular and known. I don't think that in your area you are the only one using bitcoin there are some try to search.

[MMA]

Biggest disadvantage of Bitcoin for me is rates are still very volatile. and has no legal force.
But for online payments, bitcoin be one solution. besides perfectmoney, paypal or others.

i do not think that there is any big disadvantage of bitcoin. to me the only problem is that the transaction time is too long. some time when there is huge traffic, then the transaction take a lot of time which some time create panic like situation, hope that  this problem will be solve very soon.

yes that is right that there is no disadvantage of bitcoin, and the transaction timing is a technical problem that can be solve, but i think this problem must be solve in priority basis. as it is really creating problems for the people.

[GMPoison]

Biggest disadvantage of Bitcoin for me is rates are still very volatile. and has no legal force.
But for online payments, bitcoin be one solution. besides perfectmoney, paypal or others.

i do not think that there is any big disadvantage of bitcoin. to me the only problem is that the transaction time is too long. some time when there is huge traffic, then the transaction take a lot of time which some time create panic like situation, hope that  this problem will be solve very soon.

yes that is right that there is no disadvantage of bitcoin, and the transaction timing is a technical problem that can be solve, but i think this problem must be solve in priority basis. as it is really creating problems for the people.

Exactly. Any problem bitcoin has it can be solved due to the nature of how the system works, it's beautiful really.

[bitbob82]

The biggest disadvantages of bitcoin is only few people that know about bitcoin. When you want open a business about bitcoin, it will be hard to be accepted on your area. Because not many people know about bitcoin, like in my area, i think only me that know about bitcoins.

It's one of the disadvantage of bitcoins but I think no one would open a bussines accepting bitcoins if that's what you mean like you've said there are so many people who dont know bitcoin but few years from now bitcoins will become popoular and known. I don't think that in your area you are the only one using bitcoin there are some try to search.

i think it is not the disadvantage of bitcoin. bitcoin is now becoming popular on regular basis, i think this is mismanagement that still we cannot introduce bitcoin in a large scale.

[molsewid]

Bitcoin is becoming on the top right now nowadays many of people are showing some interest to use bitcoin but they didn't know yet what would be the biggest disadvantages of using bitcoin first is they will might lose they money by using bitcoin , It is because of unstable price of bitcoin second thing is there are lot of transaction are being made if they got scammed they will didn't know who is it because of investing shits.

[Mastsetad]

Biggest disadvantage of Bitcoin for me is rates are still very volatile. and has no legal force.
But for online payments, bitcoin be one solution. besides perfectmoney, paypal or others.

The reason why bitcoin has reached this place today is because of that volatility and you are saying that it is one of the disadvantages of bitcoin, i really don't agree with that. People are earning money through this, world is being curious because of that then how come it can be a disadvantage?

[jossiel]

Bitcoin is becoming on the top right now nowadays many of people are showing some interest to use bitcoin but they didn't know yet what would be the biggest disadvantages of using bitcoin first is they will might lose they money by using bitcoin , It is because of unstable price of bitcoin second thing is there are lot of transaction are being made if they got scammed they will didn't know who is it because of investing shits.

For sure those people who are becoming interested in bitcoin will not just take their money and buy bitcoins without doing some proper research and study before adopting it.

And the unstable price of bitcoin is not even a disadvantage, bitcoin is created that way to be decentralize so just always expect movement.

I will agree that scam is one of the disadvantage of bitcoin, but it is a fact that it is one of the biggest advantage whether it is with bitcoin or not.

[kumax]

One of disadvantages is, that lost coins cannot be found again and put back to currency circulation.
When you loose a dollar or your wallet somewhere on the street, or when you die and have your bucks hidden under your mattrace, there can be someone who will find it and use it again, so the money stay in circulation.
But if you loose bitcoin (forgot pass/seed, damaged hdd, etc.), the coin is lost forever and the total number of coins decrease.
And please, lets assume that lost bitcoins are technicaly really lost forever, because the probability of finding them again is reeeeally low - very close to zero.
So it means, that somewhere in the future, the total number of coins will go down and theoretically it can go to zero.

[Ravion]

I can say that volatility is also one of the disadvantages of Bitcoin. From 1100$ last 3 days ago now it is price 912$ per Bitcoin. Almost 200$ lost in the last 3 days. I know traders are happy for the pull backs and corrections but in order for it to be accepted in the bigger market it needs to be stable that is when people will start accepting Bitcoin as payment and maybe some imvestment companies will do the same too.

It's true that volatility can be a disadvantage of Bitcoin at this price (although, many investors are attracted to Bitcoin because of the price volatility). There is the issue of price manipulation, considering that there can only be 21 million Bitcoins in total. This means that theoretically any person, company, or state, can buy up a big portion of the available Bitcoins and manipulate the price. But if the price of Bitcoin were to go much higher, this would become much more difficult. And much higher prices would also reduce the volatility.

[millgates]

The biggest disadvantages of bitcoin is only few people that know about bitcoin. When you want open a business about bitcoin, it will be hard to be accepted on your area. Because not many people know about bitcoin, like in my area, i think only me that know about bitcoins.

That mean the disadvantage of bitcoin is not forever, because bitcoin user is increase everytime. It is so hard to find bitcoin disadvantage because the benefit of using bitcoin is to much.

[Kemarit]

- Bitcoins are not still widely accepted.

- Bitcoins are volatile

- Wallets can be lost

-Lack of bitcoin understanding

[GMPoison]

- Bitcoins are not still widely accepted.

- Bitcoins are volatile

- Wallets can be lost

-Lack of bitcoin understanding

That sums it up pretty well. It's awesome though that even it's biggest disadvantages can be improved upon!

[Xenophoto]

- Bitcoins are not still widely accepted.

Not exactly something that we can control. Huge companies will have huge impact. You can start a store that accepts bitcoin but it wouldn't help as much as when a large company start promoting bitcoins.

- Bitcoins are volatile

That's not a disadvantage if you're going to keep an eye on the price of bitcoin. Those who have invested last year are already in positive profit right now. How about that for the volatility of bitcoins? Is it still a disadvantage for you?

- Wallets can be lost

Agree, and there's no way we can recover it or put the lost bitcoins back to circulation.

-Lack of bitcoin understanding

That's your fault. It's your responsibility to learn about bitcoins if you want to. No one will spoon feed you here.

[buwaytress]

I think if we talk about the fees, fluctuating prices, acceptance and even, to an extent, confirmation times, these are not exactly challenges unique to bitcoin as a form of payment. What compounds access issues in crypto is the need for technology - at least a device is needed and internet.

[jeraldskie11]

The biggest disadvantages of bitcoin as of now, for me, wallets can be lost because it is not connected from bitcoin producer. It is trusted but not 100 percent you give to them and it will lost all your money. And also the bitcoin not accepted in other country because as we could see the bitcoin is a cryptocurrency so that's the reason why other country banned bitcoin. If that two disadvantages will remove, their is no other disadvantages in bitcoin.

[Harlot]

- Bitcoins are not still widely accepted.

- Bitcoins are volatile

- Wallets can be lost

-Lack of bitcoin understanding

That sums it up pretty well. It's awesome though that even it's biggest disadvantages can be improved upon!

I agree with you that Bitcoin is a volatile currency and the other three reasons are due to us people who lack the effort. We lack the effort of understanding Bitcoin and also we are also clumsy about losing our wallets. I don't say it as a whole but that is commonly the problem when it comes to Bitcoin. Also we have the power to accept Bitcoin as a whole.

[webtricks]

The biggest advantage of Bitcoin is its biggest disadvantage!!
Yes, I am talking about its volatility.
At one place it is attracting investment from people and made Bitcoin best performing assets since last 2 years.
On other hand, it is eroding the meaning of Bitcoin as currency. I personally never love to add Bitcoin as payment mode in my business. I may end up making no profit or even losses at the end of month!!

[chickenado]

The biggest disadvantages of bitcoin as of now, for me, wallets can be lost because it is not connected from bitcoin producer. It is trusted but not 100 percent you give to them and it will lost all your money. And also the bitcoin not accepted in other country because as we could see the bitcoin is a cryptocurrency so that's the reason why other country banned bitcoin. If that two disadvantages will remove, their is no other disadvantages in bitcoin.

Wallet can be lost? Yup, If you forgot your password. Your money will lost if you didnt secure your wallet, you didnt activate 2FA ofcourse many hacker can easily hack your wallet. They banned bitcoin because they knew that this coin is usually using in illegal transaction.

[iTradeChips]

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

high fees and slow transactions. also im not sure if its true but some say transactions can be reversed now which means fraud is possible? until these things are adressed bitcoin will not go mainstream IMHO. there is also a lot to be improved in term of anonymity thats why coins like monero came to be