What do you think are the biggest disadvantages of Bitcoin?

[~Spawn~]

Well, some people would say that confirmations take a lot of time. But this is necessary to maintain the safety of transactions.

[CARrency]

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 fact that it is a volatile digital currency and because it is a decentralized, no one will ever control it even the government. Also the slow transaction can affect these. Some merchants or sellers want a good profit from what they sell, so if you pay bitcoin, with it's volatility I think the merchant will be thinking not to accept it because it may dump and affect their profit.

[jamyr]

In my opinion, the biggest disadvantage of bitcoin is its rightful value. A currency's value is what people believe for its rightful/acceptable value. So for bitcoin, people who are holding more coins, have greater effect of what will be the coins' value.

[doomloop]

Well, some people would say that confirmations take a lot of time. But this is necessary to maintain the safety of transactions.

well i saw the first person who told that its OK that confirmation takes a lot of time but the safety of transaction is necessary, because i think confirmation time is not the biggest disadvantage of bitcoin, i think bitcoin is very secure currency in the digital world as compare to other crypto currency and for me this is enough.

[millgates]

Well, some people would say that confirmations take a lot of time. But this is necessary to maintain the safety of transactions.

Anyway if we compare bitcoin transactions and other remittance service, I think bitcoin is the fastest one. In the past, people were considered the volatility of bitcoin is a disadvantage of bitcoin but now the trader considered it as advantage of bitcoin.

[BossMacko]

Biggest disadvantages that i am experiencing with Bitcoin is the confirmation problem, it's taking too long before one transaction gets confirmed if you are using low transaction fee. Another one is the high price of transaction fee even if its low you'll be needing 0.002 to start your transaction. With those two reason i fear that we will lose people who are using Bitcoin.

[David Horton]

The value keeps on fluctuating, not stable. It's no longer easy for newbies to invest in Bitcoins since the value is too high, only people with a lot of money can do that

[Franky00]

I do not like too much confirmation of transactions and the inability to use coins without the Internet.

[choppork]

The value keeps on fluctuating, not stable. It's no longer easy for newbies to invest in Bitcoins since the value is too high, only people with a lot of money can do that

It doesn't really matter if you have tons of money or not when it comes to investment. You get what you deserve. If you only invested a small amount of money, you can never expect to have better results with someone that invested a lot more. Unless you invested in a different coin and your coin made a lot better performance, that's not going to happen.

Back then, when the price of bitcoin was just $400, people everywhere are talking about how high is the price of bitcoin. They are saying that they are waiting for the price to go back to $200. The people (even the ones that don't have tons of money) that never listened to that opinion, just carried on, and invested in bitcoins, they have made ridiculous profits by now.

The problem doesn't reside on bitcoin's side, but rather on the investor's. They are too scared to invest on bitcoins. Hence, no profit for them. Like I said, you get what you deserve.

[dhampir-D]

There is something that needs to be improved that is not a problem in Bitcoin itself, but in the ecosystem. I think users need safer wallets, so they will not be forced to buy hardware wallets to have a higher level of safety.

[stompix]

There is something that needs to be improved that is not a problem in Bitcoin itself, but in the ecosystem. I think users need safer wallets, so they will not be forced to buy hardware wallets to have a higher level of safety.

Bitcoin wallets are as safe as possible and the only danger is the moron behind the keyboard.
There is still no bullet proof system that can;t be penetrated by human stupidity.

The value keeps on fluctuating, not stable. It's no longer easy for newbies to invest in Bitcoins since the value is too high, only people with a lot of money can do that

Yeah?
And how do you determine that value which is too high?

You have 100$ to invest you invest 100$. You have 1000$ to invest you invest 1000$.
Why does the price matter? Why are you taking into account the value of one bitcoin?
Just think of bitcoin like gold. Is a gram expensive? Is a milligram expensive? Is 1 ton expensive?

[siti25]

There is something that needs to be improved that is not a problem in Bitcoin itself, but in the ecosystem. I think users need safer wallets, so they will not be forced to buy hardware wallets to have a higher level of safety.

The look of the bitcoin wallet that is now available is relatively safe.
as it is already available with two security levels like 2fa.
the 2fa lock is only a code holder that can be opened, and it's in very decline it's proven safe.

[Apened]

There is something that needs to be improved that is not a problem in Bitcoin itself, but in the ecosystem. I think users need safer wallets, so they will not be forced to buy hardware wallets to have a higher level of safety.

But how it will be possible if bitcoin wallets were web base there and there is a posibility of hacking of web wallets .I think it is good to buy hardware wallet as your own investment for securing the safety of your bitcoins. For me it is not the biggest disadvantage of bitcoin.

[Palmerson]

The biggest disadvantage of bitcoin is its instability. It is good for speculators but serious investors it is a problem. All holders of bitcoins like that the price is increasing, but it always can not continue and sooner or later it can lead to falling prices and then lose all the money.

[Rostadom]

The biggest disadvantage of bitcoin is its instability. It is good for speculators but serious investors it is a problem. All holders of bitcoins like that the price is increasing, but it always can not continue and sooner or later it can lead to falling prices and then lose all the money.

But investors are literally speculators too. People don't just throw their money to bitcoins and hope that things go well. You are right that the price of bitcoin will not always increase and eventually it will go down. The point is, when is that day coming? Are we still even alive when bitcoin becomes obsolete and get replaced by a different technology? Today, we are thinking that people will transition from using fiat to using bitcoins because we know that bitcoin outgrows fiat in a lot of aspects.

With these, we know that the price of bitcoin will go up. There's no chance we all wake up one day and then the price of bitcoin is already 0.

[ethereumhunter]

The biggest disadvantage of bitcoin is its instability. It is good for speculators but serious investors it is a problem. All holders of bitcoins like that the price is increasing, but it always can not continue and sooner or later it can lead to falling prices and then lose all the money.

i think the instability its on blockchain network because sometimes the transaction is getting slow and sometime getting fast, i know its because the fee that we should pay. but if there is a large transaction then i think the confirmed transaction become late and we can see there is many delay transaction in a day.

[JimmieA]

I think btc has some difficulties but it is a whole new market and it works differently from other traditional currencies. Btc price is not stable. Many btc users are primarily connected to the network so they easily cheat.

[The_prodigy]

Added to this is too long to confirm the transaction that got 1week to confirm. Also the volatility of bitcoin price that its not yet acceptable in any worldwide now.

i agree to this one, it is the major problem and disadvantage of bitcoin for me. it is the confirmation of transactions, if you want to withdraw faster you need to pay more for you to get it, but sometimes even if you pay for faster transaction still it is not enough because its always traffic in the blockchain. i think it is one of those, and this is my disappointment in bitcoin.

[BeGoods]

The biggest disadvantage of bitcoin is its instability. It is good for speculators but serious investors it is a problem. All holders of bitcoins like that the price is increasing, but it always can not continue and sooner or later it can lead to falling prices and then lose all the money.

Precisely I think an unstable price or a fluctuating price is very profitable for most bitcoin users. Many of them even prefer fluctuating prices compared to stable prices. Because stable prices can lower their profits.

[PancherBitCoin]

The biggest disadvantage of bitcoin is its instability. It is good for speculators but serious investors it is a problem. All holders of bitcoins like that the price is increasing, but it always can not continue and sooner or later it can lead to falling prices and then lose all the money.

Precisely I think an unstable price or a fluctuating price is very profitable for most bitcoin users. Many of them even prefer fluctuating prices compared to stable prices. Because stable prices can lower their profits.

But you understand that due to price fluctuations, new users earned money? In fact, everyone dreams of buying Bitcoin at a low price and subsequently waiting for future high prices for Bitcoin, And this will already give an opportunity to increase its state several times.