What do you think are the biggest disadvantages of Bitcoin?

[Vohoanghiep]

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 realize that some things that make Bitcoin unacceptable are as formal as:
- The transaction time is too long
- Loss of transaction fees
- Many unknown
- Involves many unlawful events
- People are accustomed to popular payment methods, they hesitate to change

[nguyentrannt001]

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 first is not easy to use bitcoin without the knowledge of technology and the real learning about bitcoin is very difficult to use as well as dealing with it.
Secondly, bitcoin prices fluctuate at sharp increase, at sharp decline. Most of the fluctuations in the world that affect electronic money can cause bitcoin prices to fluctuate.

[Panda Trump]

1. Transactions take ages... Even with high fees, they would take a long time, compared to the insta-payment with services like paypal, skrill, etc!
2. Relatively high transaction fees for small payments. Large transactions would profit a lot from Bitcoin, but small transactions are simply not worth it because of the giant fees.
3. You should understand that for many people, Bitcoin is too hard to understand. I mean... some 1s and 0s are suddenly worth $3000? like W0t! And if people don't understand something, they often don't trust it.
4. Bitcoin is used by criminals: It has been in the news multiple times in my country, as many criminals seem to use Bitcoin. This makes people think it is a criminal currency and well... It's quite obvious that people don't want to use a criminal currency.
5. Fluctuating prices: The prices are rocketing up, then crashing down ALL THE TIME! For many people, that seems too dangerous to put their money into. And then you got the others, who think eZ profits, lose money and then lose trust in Bitcoin... I see this as positive, but it's ofcourse unrealistic to use it as regular payment method... I mean... 1 month your salary is worth $2500/month and the next it's only $1200/month... You see that happening? Anyways, that's what bothers many people.

Many people just don't trust Bitcoin, which really keeps it from growing even more rapidly. Fix these and it will grow far more rapidly. I can assure you that!

Regards,
Trump

[minhquang3869]

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 disadvantage of bitcoin is that the number of bitcoin users is mainly used in developing countries, but in less developed countries, paper money is quite familiar so very few people know about electronic money and there are some people Given that bitcoin is unreliable virtual currency, it is still worrying to use bitcoin.

[nguyenkieuquyen0]

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

Criminal hackers are laundering money because bitcoin trading is not controlled so many criminals use this currency as a trading method. Hackers can also attack multiple bitcoins and steal.

[frowsiter]

I believe it is in its infancy stage and needs many changes to be done. Such as improvements in blockchain technology. There are many holes in the tech and which is making the process very slow. Miners are getting difficulties. The disadvantage of this? Increased mining fees, increased transaction fees and drop in price time to time.

[Caelanpelley]

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

Because bitcoin lacks security rigor, bitcoin management becomes difficult. And the payment by bitcoin because of that there are many obstacles. Criminals can attack to steal at any time because the internet does not restrict anyone

[linkme]

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 disadvantage of bitcoin is that the number of bitcoin users is mainly used in developing countries, but in less developed countries, paper money is quite familiar so very few people know about electronic money and there are some people Given that bitcoin is unreliable virtual currency, it is still worrying to use bitcoin.

So that make everyone in every country all over has chance to use Bitcoin is our missions, helping people use Bitcoin or other electronic currencies can provide us good chance to make profit as well as make e-currency community bigger and stronger.

[KingdomHearts]

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 big fees and long time transactions confirmed are the biggest disadvantage of Bitcoin because people can not use Bitcoin to buy things by Bitcoin when its fees are too big and they need to wait so long just for the shops to accept their payments. It's not suitable for shopping yet.

Bitcoin is improving its every and each disadvantages. As you know in a huge number of traffic on bitcoin netwrk that is why problems in transaction. But after some time the slow transaction issue will be no more. Because Bitcoin is in competition with everything like they are in competition with altcoins. They are in competition with other transaction though Internets. But always remember that when your currency is invalid to accept. Then you invest though bitcoin.

[xIIImaL]

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 disadvantage of bitcoin is that the number of bitcoin users is mainly used in developing countries, but in less developed countries, paper money is quite familiar so very few people know about electronic money and there are some people Given that bitcoin is unreliable virtual currency, it is still worrying to use bitcoin.

So that make everyone in every country all over has chance to use Bitcoin is our missions, helping people use Bitcoin or other electronic currencies can provide us good chance to make profit as well as make e-currency community bigger and stronger.

We can find many people who like bitcoin to use it in every country. For me, I would say that bitcoin has numerous feature but we have some disadvantages also likely, recent high transaction fees, less number usage among the people, denctralized money and many more.

[gokayc]

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

Currently longer transaction time is the biggest disadvantage for bitcoin. I wouldn't use bitcoin as a payment method for my business in this conditions.

The another biggest disadvantage is bitcoin's volatile. This keeps people away from using bitcoin as a payment method for their shop.

[rayk]

There is no disadvantage I can see but there is Secp256k1 bitcoin's algoritm which is suspicious and don't known why satoshi choose this instead of popular one. I think satoshi is employee of nsa, this explains why he chosed to stay anonymous even at the early stage of project and disappeared. Secp256k1 is chosed because of either it has backdoor, it is only one who has not backdoor or it is efficient in terms of speed.

[HarleyQuinn9876]

All most everything you know about bitcoin, transactions with bitcoin difficultpool, Price bitcoin not stable, Some bitcoin for the guys

[nexttime]

I think bitcoin has many disadvantages as the market is volatile than bitcoin policies are still heavily modified and many btc transactions change primarily through the network to be vulnerable to hacker misappropriation

[BCTalkaccountforsale]

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 first disadvantage of bitcoin is only used in developed countries, and in other countries not much is known.
The second disadvantage of bitcoin is that it has not been widely used yet some countries have not yet recognized bitcoin.
The third disadvantage of bitcoin usually fluctuates, so users have to be smart in the buying process.

[Maslate]

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 first disadvantage of bitcoin is only used in developed countries, and in other countries not much is known.
The second disadvantage of bitcoin is that it has not been widely used yet some countries have not yet recognized bitcoin.
The third disadvantage of bitcoin usually fluctuates, so users have to be smart in the buying process.

But that disadvantages will not stay forever, eventually improvement will happen in the future because bitcoin's success
cannot be stop anymore. It's very simple to use it and we are on the digital world so as long as you have the internet
and your country has not restricted bitcoin it will be possible for you.

[Zemangat]

If we talk about bitcoin deficiency means we are talking about its weakness, I think this is the weakness of bitcoin:

1. Not Stable
Bitcoin is a speculative currency. Currently not enough companies that offer the purchase and sale of products with bitcoin as a means of payment.

2. Very risky lost or stolen
As a virtual currency, bitcoins are encapsulated in the form of digital files or known as wallet files. In use, the wallet file is similar to the cash register function.

But the wallet files stored on the hard disk of your electronic equipment are very vulnerable to damage. In addition, viruses that attack your hard disk can also make stored bitcoins just disappear.

3. Money laundering tool
The use of bitcoin currency is not controlled by the government or authorized financial institution. As a result, such conditions provide great opportunities for criminal activities such as money laundering and tax evasion.

[Adbitco]

While bitcoin has a lot of advantages, it has some disadvantages too and what I feel is it's (bitcoin's) not having a physical form is also a disadvantage. There's no charge back or reverse transaction in bitcoin which is also a disadvantage you can't reverse the transaction if someone doesn't send you the goods already agreed upon. Another disadvantage which has emerged recently and which might prove to be a threat to the entire bitcoin ecosystem is concentration of bitcoin in hands of few. There might be a few more but these are the ones I wish could be removed.

[stompix]

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 first disadvantage of bitcoin is only used in developed countries, and in other countries not much is known.
The second disadvantage of bitcoin is that it has not been widely used yet some countries have not yet recognized bitcoin.
The third disadvantage of bitcoin usually fluctuates, so users have to be smart in the buying process.

The first one is just like everything that was invented in this world.
Computers ? Were they used mainly in the US or in Zambia?
Mobile phone? Japan or Mali?
Credit Cards and Debit cards?  Western Europe or Sudan?

Who were driving cars at the beginning of the century? Europeans and Americans or Pakistani?

Who are you expecting to use bitcoin in 3rd world countries when they lack basic stuff like education healthcare and..... electricity.

This is not a disadvantage , it's the way things are.

[orions.belt19]

Perhaps its tangibility? People are used to a payment system that is physical and can be held and perhaps Bitcoin's lack of a physical form has brought reluctance for people to use. Its probably not yet a mainstream payment system because its not yet that famous (in my country, that is) and cannot be utilized in ways like other payment systems. If it were more accessible and is easy to transact with, then maybe it could become a mainstream payment system