What do you think are the biggest disadvantages of Bitcoin?

[TryNinja]

At the moment, the high fees and long time of confirmation.
This way we can't use bitcoin to buy some day-by-day coffee.

[1715116027]

1715116027

[1715116027]

1715116027

[johnnyyash]

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.

I truly agree with you...fluctuating and time of wait for transaction...

[MWesterweele]

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

yes its true, you got a point, some bitcoiners are too tired too wait until the transactions are over, and if it is done it has sometimes big transaction fee that causes to lesses the amount of payment they are receiving.

[Antoshka]

I dont really see a disadvantages but i think its because of the bitcoin is popular in many people but not too popular all over the world there are still so many people didn't know about it and this technology is still not been proven in many countries in the world there are so many people not ready for change in this kind of technologies also lack of partnerships of bitcoin in many companies.

Many people are still afraid to get acquainted closer with this currency or just heard something about it, but I do not know what to do with bitcoin.

[stompix]

One of the biggest disadvantages is that you have no insurance of your funds.

You're compromised, your privatekeys are gone, gone are your funds.
Nobody will give them back to you.

With a bank even if you're details get stolen I have transaction limits in place, nobody would be able to withdraw more than 100 euros a day.
I 'm getting a sms for very transaction I make, the moment somebody uses my account I'll know it and I can call somebody to freeze it.

Also, in bitcoin you need a backup of your privkeys, If you don't have one you're asking for it.
When dealing with banks all you need is an id. You can lose that id you have it back in 2 days. You simply can't lose your bank account.

[Yuuto]

One of the biggest disadvantages is that you have no insurance of your funds.

You're compromised, your privatekeys are gone, gone are your funds.
Nobody will give them back to you.

With a bank even if you're details get stolen I have transaction limits in place, nobody would be able to withdraw more than 100 euros a day.
I 'm getting a sms for very transaction I make, the moment somebody uses my account I'll know it and I can call somebody to freeze it.

Also, in bitcoin you need a backup of your privkeys, If you don't have one you're asking for it.
When dealing with banks all you need is an id. You can lose that id you have it back in 2 days. You simply can't lose your bank account.

I may agree with you, in fact no insurance is a big problem in this world, because one wrong move and you literally can lose all your money.
It means that using bitcoin without required knowledge and knowing the blockchain mechanics may cause a great loss for you, but on the other hand it might be the advantage, because it doesnt attract people who are not keen on such a new technology, and that gives us even more place for work.

With correct precautions made, you are secured from losing your fund, even when your PC (where you stored btc) has burned, you are able to retrieve your money ( only if you made a copy of privkey ).
Very important rule in bitcoin? always back up your data, to get an access to the wallet even in a different fashion than normally.

[coinchaser007]

I think one of the biggest disadvantages is the amount of time it takes to confirm a transaction, which will only become worse if something is not done about it.

If you have any marketing experience at all, you know the importance of instant gratification. It's why most Walmarts are still crowded with long lines despite being able to get products the same day or next day with Amazon Prime (in many areas).

[MWesterweele]

At the moment, the high fees and long time of confirmation.
This way we can't use bitcoin to buy some day-by-day coffee.

yeah totally correct, people get tired, everytime they have been waiting for so long they get tired and thinking that they dont want to wait it and they will stop earning it , because of the fees and the transaction time.

[revans]

Many people saying that delay in confirmation time is the biggest disadvantage of bitcoins but I don't think its an big issue if you add higher fees as if you want to get money in quick time in your wallet then you should afford to pay higher fees and for me its not a big deal.

[Mr]

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

yes its true, you got a point, some bitcoiners are too tired too wait until the transactions are over, and if it is done it has sometimes big transaction fee that causes to lesses the amount of payment they are receiving.

that is why people should not use Bitcoin. They should use altcoin instead because altcoins are more awesome and have more features and advance technologies than Bitcoin. Bitcoin is just a leader and soon, it will be replaced by other cryptos

[stompix]

Many people saying that delay in confirmation time is the biggest disadvantage of bitcoins but I don't think its an big issue if you add higher fees as if you want to get money in quick time in your wallet then you should afford to pay higher fees and for me its not a big deal.

When you're trying to buy something and not just transferring large amounts fees are starting to bite.
And it's really not looking good.

Already spending less than 10$ on something and using bitcoin is a no. A big no.
And for more then half of the world that is the average daily shopping budget. 

[MintCondition]

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

yes its true, you got a point, some bitcoiners are too tired too wait until the transactions are over, and if it is done it has sometimes big transaction fee that causes to lesses the amount of payment they are receiving.

that is why people should not use Bitcoin. They should use altcoin instead because altcoins are more awesome and have more features and advance technologies than Bitcoin. Bitcoin is just a leader and soon, it will be replaced by other cryptos

it may take awhile before it will be replaced by any alt coins,they may have a lot of alt coins now but they are not enough enough yet to get well known, bitcoin value offers bigger value than those calcium can offer,same with it provides more features and updates upon its development ,the only disadvantage now is the delay on transfer due to traffic of users confirmations.

[paul gatt]

Freedom is the strength and weakness of bitcoin. It is easily exploited to commit violent acts, many articles have been written about this before. Bitcoin is used in money laundering, illegal trading and transportation of illegal goods. Bitcoin is used as a tool to carry out offenses. That is a very bad thing for a coin. Its reputation is greatly affected.

[TribalBob]

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

yes its true, you got a point, some bitcoiners are too tired too wait until the transactions are over, and if it is done it has sometimes big transaction fee that causes to lesses the amount of payment they are receiving.

that is why people should not use Bitcoin. They should use altcoin instead because altcoins are more awesome and have more features and advance technologies than Bitcoin. Bitcoin is just a leader and soon, it will be replaced by other cryptos

Bitcoin is a leader because its widely used and accepted and I don't think that you can use any altcoin for shopping as no one accepts altcoin as a mode of payment and that is the reason bitcoin is more popular in compare to other altcoins.

[naughty1]

Freedom is the strength and weakness of bitcoin. It is easily exploited to commit violent acts, many articles have been written about this before. Bitcoin is used in money laundering, illegal trading and transportation of illegal goods. Bitcoin is used as a tool to carry out offenses. That is a very bad thing for a coin. Its reputation is greatly affected.

I think you were right, the bitcoin was actually used by criminals, and this affected its reputation. Think of the deep web, where bitcoin is the primary means of communication. You can buy anything from there, it can be a weapon, a drug, a drug, even someone's life. It is a typical example for us to see how bitcoin is being exploited. That's bad.

[The_Dark_Knight]

The biggest disadvantage of bitcoin is its great instability when it comes to price is not rare to lose 10 to 20 percent of the value of your coins in a single day and that is simply too much, anyone used to investments see those kind of movements in months or years but bitcoin makes moves like that once in a while and that discourages people from using it.

[BitcoinGirl.Club]

i think one of the disadvantages affecting bitcoin right now is the high fees  we need to pay if we want our transactions to be confirmed faster and their is also some division in the crypto on working out whats best for the cryptocurrency because of some personal agendas tied to it

[cryp24x]

I think the being decentralized is the biggest disadvantage of Bitcoin.  Being decentralized slow things down when it comes to decision and modification especially implementing fix and upgrades.  It needs consensus and as we see, it takes years before one good upgrade to be implemented.

[stripykitteh]

The biggest disadvantage of bitcoin is its great instability when it comes to price is not rare to lose 10 to 20 percent of the value of your coins in a single day and that is simply too much, anyone used to investments see those kind of movements in months or years but bitcoin makes moves like that once in a while and that discourages people from using it.

You’re right, the price of Bitcoin is one of the most negative things that Bitcoin can have. Sometimes the price of Bitcoin could get pretty high while that causes more people to get interested and the price would get dumped due to the old timers wanting to cash their Bitcoins out.
I think another disadvantage that Bitcoin has would be the transaction speed as well, though the transaction speed seems very minimal compared to the price of Bitcoin now days.

[Raja_MBZ]

The confirmations to transactions is going to be the one of biggest problems of bitcoin in upcoming days. Let's see if there can be a solution figured out for that.

I already have to pay 0.001 BTC fees these days for speedy transactions.