What do you think are the biggest disadvantages of Bitcoin?

[Rostadom]

For there is no weaknesses of bitcoin except for no reverse payment and slow transaction because many scammers are using bitcoin as their source of income they are lie for their customer and run because of none reverse payment unlike paypal that you can reverse the payment.. but if i compare bitcoin and paypal i'll go in bitcoin because its more useful now a days..

On the other hand, Paypal is getting spammed by scammers because of the payment revert method. They buy something, pay for it, and then dispute the payment once they got the item. And most people strongly believe that it's the biggest disadvantage of Paypal. On a side note, the buyer has 180 days to scam you.

No payment dispute feature is a disadvantage to the buyers but that surely is an advantage to the sellers. The buyer only have to trust the sellers and most sellers have their own thread. Thus, you can easily check if he's trustworthy. While a buyer usually don't have his own thread for his past transactions so you don't know how trusted he is.

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[mikanie]

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 fact that it is not controllable at first place, and secondly it is not yet known by everyone in the world, we are even not 2% of the world's population right now, so how come a government would bring something to a country where peope does not even know about it nor they know how to use it.

Soon it will be greater in numbers,many will use it like me who finds it really worthy.

[vasrasus]

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 fact that it is not controllable at first place, and secondly it is not yet known by everyone in the world, we are even not 2% of the world's population right now, so how come a government would bring something to a country where peope does not even know about it nor they know how to use it.

Soon it will be greater in numbers,many will use it like me who finds it really worthy.

It is not known yet but soon it will spread instantly without us noticing that we are already exceeding our expected population,bitcoin may not be revealed by the government since they don't find method yet on how they can manipulate it and control it to be beneficial in government ,on how every user can have taxes and payments in every transactions.

[RealPhotoshoper]

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

That is true the most disadvantages of bitcoins is the traffic of the transactions in the network. Because I can see that many transactions are being delay because many transactions are being made in every seconds. But as far as I know some wallet are adding fee to prioritized the sending and the receiving of that specific transaction. So I think it has been solve but the solution is not that good.

This doesn't looks to be major disadvantage, because this happens only at times when unexpected price rise and fall happens creating a lot buy and sell orders. This sudden increase in transaction cause a traffic, which makes the entire network go down. This gets sought in a few days time when the price gains stabilty.

No? You think when bitcoin adopted by people around the world and causing there a lot of transaction need to be processed .
The confirmation time won't be a big problem to solve?
I think soon or later this matter could be an urgent problem for most user, people looking for the fastest and secure payment processor.

[Gembul]

I think the biggest problem is awareness. Most of the people are not aware of it. In my locality people even dont know bitcoin exists. And some people who know about bitcoin dont believe in it because for them bitcoin is still a digital currency which is used in illegal activities.

Perhaps this is one of the problems that bitcoin currently encounters. But I think that's a natural thing, because bitcoin as a new digital currency. Similarly, the first time when money is used for payment. But I believe this is one of the processes by which bitcoin can be more trusted by many people. And the negative impression of bitcoin itself can be disguised by a positive impression that will arise gradually. Thank you

[bravehearth0319]

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

I think the biggest disadvantages of Bitcoin is what most often complaint by the other bitcoin enthusiast every time they do transaction and the confirmation always delayed.  And then the other thing was bitcoin to other's is not a real currency instead it is still a digital currency which can be use only electronically, but can never be use physically in public place as payment. This was I think about it

[axorb]

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

I think the biggest disadvantages of Bitcoin is what most often complaint by the other bitcoin enthusiast every time they do transaction and the confirmation always delayed.  And then the other thing was bitcoin to other's is not a real currency instead it is still a digital currency which can be use only electronically, but can never be use physically in public place as payment. This was I think about it

You can use bitcoin debit card if you want to spend your bitcoins at physical places as it works same like the other bank cards and you don't have to pay any transaction fees if you make purchase using bitcoin debit card.

[Genedarner123]

Think ouside of the crypto world. its still hard to have a proper decent education. most of the third world contries strrugle and fight for it. if a normal education itself is a hard think then how can u expect digital literacy and wish everyone use bitcoin. on onside u have banks who will go to any lengths to destroy it if they feel its a threat. on the other hand u have people with in crypto world who try to scam and ultimately destroy the reputation.
The way  i see it , every organistion will have their own crypto for a fast and speedy settlements  

[Redrose]

For me one of its greatest weaknesses is that you can lose your bitcoins by sending it to a wrong address. Any address should have a number to identify it, just as phone number, that people could remember. That would be a true revolution.

[fullypak]

For me one of its greatest weaknesses is that you can lose your bitcoins by sending it to a wrong address. Any address should have a number to identify it, just as phone number, that people could remember. That would be a true revolution.

Bitcoin is not legal bro, that is why any of our identity will not include in bitcoin transaction. If we use our mobile number to do transaction then our all transaction will be tracked by our govt, and they will get all records of our transaction. To avoiding extra tax, we are using Bitcoin. If anything happens like what you said means our govt will start to collect tax for our all Bitcoin transaction.

[Wesimon]

The only disadvantage of bitcoin at a moment is that it is not accepted at offline places like restaurants or malls where we can spend them to buy food or clothes and apart from that I don't see any disadvantages attached with bitcoins.

I would not consider that as a disadvantage of bitcoin, that is a disadvantage for the owner of such businesses. It is the decision of the owner of the business whether to accept bitcoin or not. Another thing, why offline? Isn't bitcoin transactions are made online? I haven't seen nor heard about having bitcoin transaction offline.

[speem28]

For me one of its greatest weaknesses is that you can lose your bitcoins by sending it to a wrong address. Any address should have a number to identify it, just as phone number, that people could remember. That would be a true revolution.

That is not a weakness of bitcoin at all. Bitcoin is not liable to the stupidity of people who do not double or triple check the receiver's address before continuing the transaction. If you are going to apply those methods then you are contradicting the anonymity of bitcoin. You are making transactions to be traced easily.

[Format.C^]

Fucking delay in confirmation time is the biggest disadvantage of bitcoins and its really making me go nuts at a moment as of today its now 5 hours and I am still waiting for my transactions to get confirmed even after adding higher fees and this is fucking ridiculous.

[Marma Kalari]

The only disadvantage of bitcoin at a moment is that it is not accepted at offline places like restaurants or malls where we can spend them to buy food or clothes and apart from that I don't see any disadvantages attached with bitcoins.

If you want to use bitcoin in places like restaurants and malls you can take a bitcoin debit card which can be availed through xapo or relevant legit sites and you can spend the money through it,the disadvantage i can tell is the delay in transaction which is frustrating at times when you are trading.

[Wandering Soul~]

The only disadvantage of bitcoin at a moment is that it is not accepted at offline places like restaurants or malls where we can spend them to buy food or clothes and apart from that I don't see any disadvantages attached with bitcoins.

I would not consider that as a disadvantage of bitcoin, that is a disadvantage for the owner of such businesses. It is the decision of the owner of the business whether to accept bitcoin or not. Another thing, why offline? Isn't bitcoin transactions are made online? I haven't seen nor heard about having bitcoin transaction offline.

It is still a disadvantage especially for the bitcoin users . Money is meant to spend and bitcoin is money . What's the point of it if you can't spend it as much as you want . You see people have a limitation since most of the companies especially the big ones doesn't accept it . Yes you can convert it to your local currency but there will be an extra charge of fees . You can also use third parties i.e. bitcoin debit cards but there will also be an extra charge . The best choice will always be to use it directly . So why would this be a disadvantage for the owners of the said businesses? When even if they only accepts fiat not bitcoin but everyone has fiat so payment methods will not really affect them but their service and product will .

[Fatanut]

For me one of its greatest weaknesses is that you can lose your bitcoins by sending it to a wrong address. Any address should have a number to identify it, just as phone number, that people could remember. That would be a true revolution.

Your negligence (or arrogance) isn't a disadvantage of bitcoin. It's not even in bitcoin's side. It's fully your fault. Thinking about remembering an address? Remember the first characters and the ending characters. It's very rare to an address that has the same first and last couple of characters. Putting your phone number to identify your bitcoin address will just reveal some of your whereabouts. I don't see any reason as to why would it be hard to compare the address that you're sending to and the address that you're supposed to send to.

I'm sure you don't have to enter the address manually, you just have to copy paste it. Seriously, every address is very unique, how dumb someone could be to send money to the wrong address.

[Harlot]

For me one of its greatest weaknesses is that you can lose your bitcoins by sending it to a wrong address. Any address should have a number to identify it, just as phone number, that people could remember. That would be a true revolution.

Your negligence (or arrogance) isn't a disadvantage of bitcoin. It's not even in bitcoin's side. It's fully your fault. Thinking about remembering an address? Remember the first characters and the ending characters. It's very rare to an address that has the same first and last couple of characters. Putting your phone number to identify your bitcoin address will just reveal some of your whereabouts. I don't see any reason as to why would it be hard to compare the address that you're sending to and the address that you're supposed to send to.

I'm sure you don't have to enter the address manually, you just have to copy paste it. Seriously, every address is very unique, how dumb someone could be to send money to the wrong address.

I also have to agree with Fatanut here, its not Bitcoin's Fault on why you have sent it to the wrong Wallet Address. It is due to the users fault in which they are also the reason why they lost there Bitcoin.

Here are some of my advice on which you won't be doing the same mistake again.
1. If you are using a wallet app you always have the option of scanning the QR code of the Bitcoin address in which it will automatically input into your device, by doing this you will be avoiding the chance that it will come out wrong compared to typing it manually
2. By going to the Wallet Address's Blockchain site, by going there you are confirming that it is the wallet address that you intend to send your money on in which you can also copy and paste it in which you can send your Bitcoin without any corrections.

[Slow death]

Fucking delay in confirmation time is the biggest disadvantage of bitcoins and its really making me go nuts at a moment as of today its now 5 hours and I am still waiting for my transactions to get confirmed even after adding higher fees and this is fucking ridiculous.

I agree.

Days ago I had a problem that made me very angry, I traveled and I'm in the province... I needed to call someone was important, I decided to buy refills with my balance bitcoin, I made all the process and I sent bitcoin to them to send the refills , My god, it took hours for transaction to confirm and always said error, I tried several times until I gave up

[Biggapp]

 For me one of its greatest weaknesses is that you can lose your bitcoins by sending it to a wrong address. Any address should have a number to identify it, just as phone number, that people could remember. That would be a true revolution.

i will not tell this the disadvantage of bitcoin because sending bitcoin to another address is the fault of bitcoin users, it is due to their careless that they didn't check their address thoroughly and send it to wrong address.

[parittal]

one of the biggest disadvantage of Bitcoin is that not everyone knows it yet that it could be applied everywhere. Where you can buy something like groceries and pay with Bitcoin, I think going forward if such can be implemented and accepted by certain outlets then the world would be a better place.