What do you think are the biggest disadvantages of Bitcoin?

[Gloiri]

The Biggest disadvantage of bitcoins is his price nobody know when the price increase and decrease. its good for investor but to sometimes its become to much risky

[chris200x9]

Transaction speed is too slow and I had to wait for long time to purchase things.So transaction speed should be accelerate.Bitcoin has no physical form it's also a bad side of it.And since bitcoin is uncontrollable so illegal activities are always happening.For this bitcoin is not yet accepted to many country.

Yes true, many users have complained that the transaction is bitcoin slow and need a lot of confirmation. This is what feared that one day the transaction is bitcoin failed and lost. With users who continue to grow, then the speed of the transaction becomes a very important issue.

The developers have to work on the speed of transaction because the issue is going to be serious for many people by the way I often rely on only one transaction because I know that when one transaction is occurred then there is no chance that this transaction will be cancelled.

I think the bank transaction and Bitcoin transaction both are same, and both takes almost same time, but some time Bitcoin will take a long time to confirm. I want bitcoin debit card in all countries than only the bitcoin transaction will improve. With this debit card, we can withdraw money very fast like normal bank debit card. And I don't know we can swipe this card in the shipping machine or not. If this facility is there means it is easy to use bitcoin.

[PacePay]

Transaction speed is too slow and I had to wait for long time to purchase things.So transaction speed should be accelerate.Bitcoin has no physical form it's also a bad side of it.And since bitcoin is uncontrollable so illegal activities are always happening.For this bitcoin is not yet accepted to many country.

Yes true, many users have complained that the transaction is bitcoin slow and need a lot of confirmation. This is what feared that one day the transaction is bitcoin failed and lost. With users who continue to grow, then the speed of the transaction becomes a very important issue.

The developers have to work on the speed of transaction because the issue is going to be serious for many people by the way I often rely on only one transaction because I know that when one transaction is occurred then there is no chance that this transaction will be cancelled.

I think the bank transaction and Bitcoin transaction both are same, and both takes almost same time, but some time Bitcoin will take a long time to confirm. I want bitcoin debit card in all countries than only the bitcoin transaction will improve. With this debit card, we can withdraw money very fast like normal bank debit card. And I don't know we can swipe this card in the shipping machine or not. If this facility is there means it is easy to use bitcoin.

From someone I have heard that in some countries the international transaction through bank take a longer time like it often take days from the transaction to be completed through the banks and sometimes it take more than a week. So we cannot say that the transaction of banks and transaction via bitcoin are the same because of the transaction timing.

[Etaurith]

The Biggest disadvantage of bitcoins is his price nobody know when the price increase and decrease. its good for investor but to sometimes its become to much risky

I think yo are right. Investors can be scammed with bitcoin because it's online. That's why a lot of ciriminals also use bitcoin.
Another large disadvantage is that the transaction is very slow.

[babsalt1975]

Bitcoin has become very unpredictable due to its high volatility. You wake up one day and find that its price has increased by 20% due to a very small trigger. The next you here is the price has dropped by 10%. These unpredictability works to its disadvantage as a universal means of payment. Other attributes like anonymity also works to its disadvantage.

[greentea]

Transaction speed is too slow and I had to wait for long time to purchase things.So transaction speed should be accelerate.Bitcoin has no physical form it's also a bad side of it.And since bitcoin is uncontrollable so illegal activities are always happening.For this bitcoin is not yet accepted to many country.

Yes true, many users have complained that the transaction is bitcoin slow and need a lot of confirmation. This is what feared that one day the transaction is bitcoin failed and lost. With users who continue to grow, then the speed of the transaction becomes a very important issue.

This along when transactions get stuck in limbo when the unconfirmed network transactions begin to rise.
https://blockchain.info/unconfirmed-transactions

It's hard to pay for a pizza when it takes 12 hours to get the first confirmation.  People dont understand that, they believe it is like
email and it should be somewhat instant. 

[ptiper21]

The Biggest disadvantage of bitcoins is his price nobody know when the price increase and decrease. its good for investor but to sometimes its become to much risky

I think yo are right. Investors can be scammed with bitcoin because it's online. That's why a lot of ciriminals also use bitcoin.
Another large disadvantage is that the transaction is very slow.

Do you think that criminals don't use also usd/ euro ?

[szpalata]

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 definitely the transactions confirmation time and the different transaction rate systems whereby the rich or people looking for quicker confirmations would have to pay more and the others pay less for slower confirmations. This in my opinion are the greatest disadvantages.

[noormcs5]

The only big issue around bitcoin is the time to the transactions get confirmed that are out of being normal and fair, with the current delay miners are forcing people to raise the fees, this might became a big problem in the next years if a suitable solution wont be found. Miners rewards went from 0,5-0.8btc to 1 btc and above ammounts, and bitcoin price is at 1000 dollars, looks like miners are controlling bitcoin at the moment.

That is true the bitcoin transaction time is really becoming a problem and I don’t get how are we supposed to go with this, I sent around 0.1 btc and it took like 4 days to get confirmed, that alongside that the bitcoin is not being used everywhere and not having the best reputation among the investors because it is highly fluctuating.

Are you serious ? Did it really took 4 days to confirm the transaction of 0.1 BTC. I think sure you have either not put the fee with the transactions or a very low fee which made it a delay of 4 days.  I know tx confirmations delays are getting longer and longer but if on the recommended fee it delayed to 4 days, then we seriously need to think to get rid of this problem pretty soon.

[DoublerHunter]

For me, the biggest disadvantage of bitcoin is its supply. We already know that bitcoin has a limited supply and that is one of the biggest disadvantage for me since the one who will get higher profits on the future are those people who are early birds or early investors or miners because someday if the supply will be maxed out then they can completely manipulate or control the price because they have the majority amount of supply.

[jovs]

For me, the biggest disadvantage of bitcoin is its supply. We already know that bitcoin has a limited supply and that is one of the biggest disadvantage for me since the one who will get higher profits on the future are those people who are early birds or early investors or miners because someday if the supply will be maxed out then they can completely manipulate or control the price because they have the majority amount of supply.

In my opinion, it is not the supply of bitcoin is the disadvantag of bitcoin, but its votality. We all know that when bitcoin reaches its maximum suplly, ofcourse its value would surrly rise up as the demand is higher than the suplly. I found it as an advantage. However, the votality is really the problem because it disattract traders/ investors to use bitcoin as their medium for their business.

[loreykyutt05]

the biggest disadvantaged of Bitcoin for menis it's confirmation time well we know that those people who pay higher fee will get their transaction confirmed easily but how about thise who are just in regular transaction and don't want to spent extra money Bitcoin confirmation time will be very slow ai think .

[DoublerHunter]

For me, the biggest disadvantage of bitcoin is its supply. We already know that bitcoin has a limited supply and that is one of the biggest disadvantage for me since the one who will get higher profits on the future are those people who are early birds or early investors or miners because someday if the supply will be maxed out then they can completely manipulate or control the price because they have the majority amount of supply.

In my opinion, it is not the supply of bitcoin is the disadvantag of bitcoin, but its votality. We all know that when bitcoin reaches its maximum suplly, ofcourse its value would surrly rise up as the demand is higher than the suplly. I found it as an advantage. However, the votality is really the problem because it disattract traders/ investors to use bitcoin as their medium for their business.

How can you be sure that after the supply maxes out then the price will go up because the demand will be massive. I don't think that will work because if the whales or the bag holders of the bitcoin notices that the supply is maxed out and the price is stable and a lot of people are waiting for the buy order to be fill then it will be a go sign for bag holders to dump the price hard as they can. So being maxed out of a supply is not advantage because there is a lot of factors to view.

[Xenophoto]

For me, the biggest disadvantage of bitcoin is its supply. We already know that bitcoin has a limited supply and that is one of the biggest disadvantage for me since the one who will get higher profits on the future are those people who are early birds or early investors or miners because someday if the supply will be maxed out then they can completely manipulate or control the price because they have the majority amount of supply.

In my opinion, it is not the supply of bitcoin is the disadvantag of bitcoin, but its votality. We all know that when bitcoin reaches its maximum suplly, ofcourse its value would surrly rise up as the demand is higher than the suplly. I found it as an advantage. However, the votality is really the problem because it disattract traders/ investors to use bitcoin as their medium for their business.

How can you be sure that after the supply maxes out then the price will go up because the demand will be massive. I don't think that will work because if the whales or the bag holders of the bitcoin notices that the supply is maxed out and the price is stable and a lot of people are waiting for the buy order to be fill then it will be a go sign for bag holders to dump the price hard as they can. So being maxed out of a supply is not advantage because there is a lot of factors to view.

Those people that are waiting in line in the buy order would eventually be tired of waiting and, thus, buying from the sell order. If that continues, the sell order would increase and increase and the buy order would increase as well. I think that's the best time to hold your bitcoin, when there's a lot of people waiting in the buy order. Those people would either wait for someone to dump or they would simply compete on getting the lowest sell order possible.

Huge buy order is not a go sign for a dump, it's the opposite. The supply has maxed out so it couldn't increase anymore. The demand would be increasing as supply decreases.

[KuromaYoichi]

I think the biggest disadvantages of bitcoin right now is that there's not many merchant who accept bitcoin as a payment method. The other disadvantages is the transaction speed, the confirmation can take a lot of time sometimes.

[instacalm]

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

I think there isn't much in the design of Bitcoin itself that prevents it from being accepted in the mainstream. This has more to do with the power of established governments and networks that simply would not let Bitcoin take over the power that their very existence depends upon. Bitcoin's heart, Blockchain Technology, is increasingly being experimented with in the world of finance. That's where the disadvantages of "Bitcoin" can be overcome -- the evolution of similar blockchain technologies in a wide variety of fields that results in the adoption of the core ideas of Bitcoin.

[bitbob82]

I think the biggest disadvantages of bitcoin right now is that there's not many merchant who accept bitcoin as a payment method. The other disadvantages is the transaction speed, the confirmation can take a lot of time sometimes.

how can you say that this is the disadvantage of bitcoin. i think bitcoin is still not so much mature it still need a good time to become more famous. i think it will still take some time when merchants will accept bitcoin and will do trade in bitcoin. the transaction problem will also be solved very soon.

[UDC]

how can you say that this is the disadvantage of bitcoin. i think bitcoin is still not so much mature it still need a good time to become more famous. i think it will still take some time when merchants will accept bitcoin and will do trade in bitcoin. the transaction problem will also be solved very soon.

i mean, bitcoin already has 8 years, and you'd expect that cryptocurrency with a $16billion market capitalization (~= top120 country by gdp) would be "mature"

[zidanw]

I think the biggest disadvantages of bitcoin right now is that there's not many merchant who accept bitcoin as a payment method. The other disadvantages is the transaction speed, the confirmation can take a lot of time sometimes.

how can you say that this is the disadvantage of bitcoin. i think bitcoin is still not so much mature it still need a good time to become more famous. i think it will still take some time when merchants will accept bitcoin and will do trade in bitcoin. the transaction problem will also be solved very soon.

the absence of many merchants who accept bitcoin as some countries do not accept bitcoin as legal payment so they did not dare to do it. bitcoin transactions can not be canceled even though is still 0 confirmation it will definitely be sent

[BlackPanda]

the biggest disadvantaged of Bitcoin for menis it's confirmation time well we know that those people who pay higher fee will get their transaction confirmed easily but how about thise who are just in regular transaction and don't want to spent extra money Bitcoin confirmation time will be very slow ai think .

I agree with you . that time confirmation of bitcoin is currently experiencing serious delays. even many people who have experienced this disappointment. Now is the time we look for a solution, because if it is not resolved then this will have a major impact on the future development of bitcoin.