What do you think are the biggest disadvantages of Bitcoin?

[panganib999]

The main things that are bitcoins advantages are at the same time its' disadvantages. Independency and decentralization. There is no central body to control and regulate it and in financial world that is almost impossible and not acceptable. Also the speed of transactions could be disadvantage, cause sometimes they are very slow.

Finding decentralization and independency on bitcoin as a disadvantage is somehow the least things you will even think on. Because even with it bitcoin is more profound and good on transaction wise. And the security is much more build because now one will manipulate our transaction and tax. So if the government will regulate it corruption may exist. But I agree on the of the transaction speed. It is indeed the most typical problems bitcoin experiences. But there is no bad thing on long time transaction as long as the transaction is good been done.

[Format.C^]

Delay in transactions and transactions fees getting higher and higher have become an headache in bitcoins and if the same thing continues in future then there will be many people who will stop using bitcoins for sure.

[kikeda]

The only disadvantage of bitcoin at a moment is that its usage is very limited and even after having bitcoins in our wallet we cannot use them anywhere like fiat money and that is the biggest drawback of bitcoins.

[Fatanut]

Delay in transactions and transactions fees getting higher and higher have become an headache in bitcoins and if the same thing continues in future then there will be many people who will stop using bitcoins for sure.

Personally, I'm starting to think to switch on using Ether. It's been a day, I paid a dollar for my transaction, and it's still unconfirmed. I think the "cheap" transaction fee of bitcoin is long gone. The "fast" transaction is just happening sometimes. Most of the time, I'm waiting for more than a day or two before I can receive my bitcoins. With the increasing price of Ether, and all the new successful coins that have Ethereum contract, I'm thinking that this might actually a better investment. Ether price is increasing and bitcoin price is increasing. Thus, if you're holding Ether, you're going to have even more profit when you convert your money to digital fiat.

[MoneyIsDebt]

The only disadvantage of bitcoin at a moment is that its usage is very limited and even after having bitcoins in our wallet we cannot use them anywhere like fiat money and that is the biggest drawback of bitcoins.

bitcoin is not actually for that purpose according to my assumptions. i think mostly people from all around the world use it for investment purpose. they sale when price rise and purchase when it goes up and for sale and purchase of goods you can use it but it is accepted every where so, its better to use fait money for that purpose.

[DoublerHunter]

The only disadvantage of bitcoin at a moment is that its usage is very limited and even after having bitcoins in our wallet we cannot use them anywhere like fiat money and that is the biggest drawback of bitcoins.

bitcoin is not actually for that purpose according to my assumptions. i think mostly people from all around the world use it for investment purpose. they sale when price rise and purchase when it goes up and for sale and purchase of goods you can use it but it is accepted every where so, its better to use fait money for that purpose.

I agree with you. As of now bitcoin is not that like the common currency like dollar that we can use everywhere and well known anywhere but bitcoin is just a new cryptocurrency and many people didn't know bitcoin so a lot of people that is interested to bitcoin doesn't have a choice but to just invest in bitcoin because they can't use it but they can hold bitcoin for a few years and earn money and just use it until bitcoin is widely accepted.

[erez_yakir]

in my opnion its the lack of transfer proection, there is no one to monitor the trasnfomration of funds and discuss chargeback and buyter proection so this is a big issue in my opbion

[Schuyler]

Transaction fees were not an issue before but now that they have escalated to very high levels, it has become a disadvantage for bitcoin because it makes people think twice about spending so much on fees just for their transaction to be prioritized, or risk your transaction not being confirmed. The waiting time for a transaction makes people nervous because of the uncertainty of the confirmations.

[Dimelord]

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

Well,every body knows that today,the greatest disadvantage of bitcoin is the longer time taken for transaction.Another disadvantage is the fluctuation in price due to which small merchants don't accept bitcoins.They would even fear that their transactions could be easily traced by governments for taxes.

[Fatanut]

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

Well,every body knows that today,the greatest disadvantage of bitcoin is the longer time taken for transaction.Another disadvantage is the fluctuation in price due to which small merchants don't accept bitcoins.They would even fear that their transactions could be easily traced by governments for taxes.

Well, looking at the price of bitcoin today, the price fluctuation seems to be a good thing. It's a double-edged sword honestly but everyone that bought bitcoins in the past have already made profits by now since this is the peak. Someone who would think that their transactions can easily be traced by the government should do their own research. Sure the government can find the addresses/wallets that's connected to their company but does it matter? You're going to pay taxes anyway since you're running a business that's registered on your local government.

[DD-Lex]

I am not satisfied with the too long speed of operations. It's still bad that you can not use your coins without the Internet.

[NEWGOODOUBLE]

I am not satisfied with the too long speed of operations. It's still bad that you can not use your coins without the Internet.

True if you use a low fee of course the transaction you get will be very slow, and it is different with tagline bitcoin which he said fast and cheap transaction

[Decoded]

I think Bitcoin's price is a double edged sword.  It's price volatility means that you can make slot of profit by trading or simply holding on. But sometimes, things can go wrong and in a flash the price could plummet. This problem could be fixed if more people used Bitcoin, with a large community and a stable market cap.

[DoublerHunter]

I think Bitcoin's price is a double edged sword.  It's price volatility means that you can make slot of profit by trading or simply holding on. But sometimes, things can go wrong and in a flash the price could plummet. This problem could be fixed if more people used Bitcoin, with a large community and a stable market cap.

Yes the volatility is a double edge sword because we can get benefit from it and we can also get a huge loss because of it but i think we can still have a higher chance of getting the benefits of being volatile of bitcoin by having a lot of information to make it as a basis in buying or selling bitcoin in the markets.

[Rinder]

The big issue happening with bitcoin is the delay taking to get your transaction confirmed, and the suddently raise into the fees to try to get your transaction completed fast as possible, this is a huge issue since bitcoin had low fees and transactions speed were normal, 10-30 minutes and it were done, the number of transactions raised and now we are in the middle of solutions.

[infarterr]

The biggest disadvantage in bitcoin to date is that there is no legal protection, so there is still a sense of worry in the event of possible disadvantages, such as natural disasters for example. That's the only disadvantage in bitcoin.

[genos]

I am not satisfied with the too long speed of operations. It's still bad that you can not use your coins without the Internet.

Yes, we need internet to transact using bitcoin but the development of the time will facilitate us in accessing internet easier and faster. Bitcoin trasaction will take longer time when the traffic is high. I hope the developer of blockchain or anyone can solve this.

[shamzblueworld]

I think the number one is Transaction Time, it takes too long and that is why it is not being used at the local market, or local businesses or day to day trades in real world.
If that can solve somehow, its use/reach will expand hugely.
Then maybe the only factor remaining will be the price fluctuation, but I believe people will still start using it as they'll know there is a less risk of losing and more chances of profit eventually. 

[Eternad]

The biggest disadvantage in bitcoin to date is that there is no legal protection, so there is still a sense of worry in the event of possible disadvantages, such as natural disasters for example. That's the only disadvantage in bitcoin.

There is no need for legal protection here on BTC because legality for BTC will just make it destroy. Anonymity are directly contradicting legality so there is no way to combine that two factor. The only thing you must consider for safety issue here is always keep secrets any information about your wallet and always be nothing.

[FasTroy]

I am not satisfied with the too long speed of operations. It's still bad that you can not use your coins without the Internet.

You are right, but I think internet is mostly everywhere in the whole world. So internet problem can be solved and you can control your bitcoin without any problem.
I think the only disadvantage about bitcoin is the delay of transactions confirmations. If they fix that, it will be awesome. I think paying high fees is not neccesary if they update the blockchain.