What do you think are the biggest disadvantages of Bitcoin?

[the rise]

That not everyone uses it.
People are used to their old ways.

I suggest you do a survey of Internet users worldwide. Bitcoin will become a kind of positive virus that allows everyone to be able to access it. Android smartphones have proven to be accessible to everyone, it's not impossible if one day they were able to improve their system that allows bitcoin can be used very easily. It's only a matter of time.

The biggest disadvantages of Bitcoin is only anonymity of its users, it defies regulation of financial world. And there is no solution until now.

[kumax]

One disadvantage is the fact it's very expensive for sending small denominations.

There is around a 30% transaction fee when sending a single US dollar value.

Yes, I can sign under this!! For smaller transactions, the fees are so incredibly high and with all the unconfirmed transactions hanging in the pile, you cannot afford to pay less, because then you are in danger that your transaction will be unconfirmed for days or that it will be even removed from the blockchain database.
And it makes bitcoin useless for smaller transactions business.

[Gaaara]

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 transaction takes time, it needs confirmation and lot of stuff before you can pay something you need to, plus the not all people know bitcoins so it will be a problem to government on how will they introduce bitcoins to people who have no idea of how it works, people doesn't like changes, just think of it, what do you think will happen if people who has low knowledge in computers has been told that there is a new currency that is nationwide accepted?

[LeGaulois]

I think one of the disadvantage of Bitcoin is the bad reputation given by the medias. Trying to push down bitcoin argumenting it is used for illegal activities. For sure, we can't deny this, but oh well, what about fiat ? It isn't used ? Surely more, so what ? They forgot to write about it ? Another disadvantage but hope it will be fixed soon, is the waiting for the transaction, it is fucking so slow.

[greatr]

in my opinion, the advantages bitcoin can be drawbacks. as well as transactions that are not detected, it might be a tremendous advantage of bitcoin, and is not owned by any other payment, but it may be a precursor of illegal transactions, and the government also questioned it.

did you know that bitcoin is one of the currencies that are the least used for any criminal activities? Only the banks want you to think that it is so they have a reason to ban bitcoins and make people use fiat all the time, I think bitcoin doesn't really have any bigger disadvantages, at the moment the biggest one is long confirmation times with the decent fees, but it should be solved in the near future so I'm not worried about it at all.

[Daniel91]

I can think about a few things.
Some very bad media reports about bitcoin, which can change public opinion about us.
Also, bitcoin, in the most countries, is not recognized as official way of payment, currency or financial asset.
So, how to report tax, for example?
How to use bitcoin in everyday life, not just online?
It's still very complicate since there is no financial regulation about bitcoin.

[TheNostradamus]

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

Not everyone knows about the Bitcoin so you can't use the Bitcoin with every one. We need to let More people know about the Bitcoin
Plus the concept of Bitcoin as a payment is difficult to understand for everyone, especially for the people that don't know the Bitcoin.

[CROYA86]

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.

this caused not all people can understand, grasp and use bitcoin because, there are still many people who do not understand bitcoin, if possible sitemnya easy so that all people can use bitcoin

[requester]

the biggest disadvantage of bitcoin is obviously the high transaction fee now a days which we can afford to make transaction below $10 because we have to pay about 0.5$ tp 1$ for that and thus it make the currency expensive.

[Rostadom]

I think one of the disadvantage of Bitcoin is the bad reputation given by the medias. Trying to push down bitcoin argumenting it is used for illegal activities. For sure, we can't deny this, but oh well, what about fiat ? It isn't used ? Surely more, so what ? They forgot to write about it ? Another disadvantage but hope it will be fixed soon, is the waiting for the transaction, it is fucking so slow.

It's because it's a good niche on the Internet. A currency that only exists on the Internet and is used mainly to buy drugs and kill people? That's a good title for any article and I will surely click that. But if they write an article about cash being used for drugs, people will be all like "Dafuq, of course. Duh. Isn't that normal?"

Btw, only reason that you're experiencing slow transactions is because you pay low fees or no fee at all. It shouldn't be a disadvantage at all because even the so-called high fees is still super low compared to how much we pay when we use Paypal.

[CoinFoxs]

It is a pseudo currency which is not known to many people.

Many people come to know about bitcoins and there is and increment in bitcoin users daily, everthing takes time to be known in the world or among people so same is with bitcoin, by time passing people become familiar to that and understands it's importance that how bitcoin help them financially.

Many big traders as well as trading organisations do not accept bitcoins.

They don't accept bitcoin as trading currency because bitcoin is not stable, it's price increase within hours and also decrease within hours so people always choose currency for trading which have a little bit stability which reduces the risk chance.

[carlerha]

It is a pseudo currency which is not known to many people.

Many people come to know about bitcoins and there is and increment in bitcoin users daily, everthing takes time to be known in the world or among people so same is with bitcoin, by time passing people become familiar to that and understands it's importance that how bitcoin help them financially.

Many big traders as well as trading organisations do not accept bitcoins.

They don't accept bitcoin as trading currency because bitcoin is not stable, it's price increase within hours and also decrease within hours so people always choose currency for trading which have a little bit stability which reduces the risk chance.

yes that is right to say that bitcoin is still not a stable currency but i think in future when the use of bitcoin will increase and when people will adopt bitcoin then it will become a stable currency and they we will be able to use it for trading.

[Sled]

I think the biggest advantage of bitcoin is being limited to its supply because if a currency is limited then it will not be qualified for being a stand alone currency since the supply is limited and the price will not be stable, so bitcoin will just be part of the market but i'm still hoping for bitcoin to be a legit currency which we can use it just like fiats and nothing to worry about.

[ICO INVESTOR]

I think the biggest disadvantage of bitcoin is the long time to confirm one transaction

[requester]

the biggest disadvantage is that its high fees. check the thread here https://bitcointalk.org/index.php?topic=1805143.0 which mentioned that bitcoin transaction fees had quadrupled so we need a solution to reduce the transaction fees as early as possible because it is discouraging new users and even old users too and we cant transact small amount because it is charging huge.

[Blackdeath]

For me, the biggest dksadvantage of bitcoin is; it is not widely accepted. Infact, some countries are banned this kind of technology. If you want the list here https://en.m.wikipedia.org/wiki/Legality_of_bitcoin_by_country. Second, it has no physical form. You cannot spend it ti any physical stores. Only few stores are accepting bitcoin. You need to convert it to cash in able to buy. Third, bitcoin can be lost. Just like physical.money, it can be lost. For example. You have stored your btc at your pc, but the pc crashes. Your wallet is lost and also your btc.

There are many disadvantages of Bitcoin especially in some countries. Some countries doesn't accept or even use bitcoin. Some shops and establishment doesn't accept bitcoin too. You can only use bitcoin in selected shops and another one of the disadvantage of it is because I think other doesn't seriously using bitcoin in good ways. They use it in gambling that lead them to waste their bitcoin. Bitcoin cannot overcome the real money and bitcoin somehow doesn't fully accepted in some countries so that some shops/establishment doesn't accept it and you can't use it to buy, invest and as payments in some personal things. In other words, the Bitcoin is very limited only nowadays.

[mindrust]

The biggest disadvantage is that you can't convert your bitcoins into FIAT and get yourself removed from the system instantly when you want to.

I mean, its very easy to transfer your money overseas by using bitcoins but when it comes to convert them into FIAT, the real problem begins. Government  dogs will be all over your ass.

[nicolecan13]

I think the biggest disadvantages of bitcoin is that it is always been scammed because mostly it is traded online and also bitcoin is not yet so popular in this world that even you have many bitcoins you can only buy to a market which recognizes bitcoin and which is seldom.

[FlightyPouch]

I think the biggest disadvantage of bitcoin is the long time to confirm one transaction

Here in our place transactions are not that long actually it is very fast. It can be received in a minute and no fees. But the problem here is bitcoin is not really known, bitcoin is not that popular here. No stores accept bitcoin unless that owner is using bitcoin.

[MintCondition]

I think the biggest disadvantage of bitcoin is the long time to confirm one transaction

Here in our place transactions are not that long actually it is very fast. It can be received in a minute and no fees. But the problem here is bitcoin is not really known, bitcoin is not that popular here. No stores accept bitcoin unless that owner is using bitcoin.

also here, I can only use it on the people who have it, but lucky there is a app that can use for loading or for paying bills. I may not use it a lot but most important is that it can be cash out fast and with no fee.