What do you think are the biggest disadvantages of Bitcoin?

[bs.glory]

I think generally, these are the disadvantages of BTC:

1. Most elders does not accept bitcoin as part of their daily money involvement, due to their capacity to understand the innovation of technology nowadays.
2. Bitcoin values are unstable in terms of monetary exchange. Values in currency are altered everyday as noticed on the graph situated at coins.ph.
3. BTC cannot function without the aid of other currency providing system such as banks.

[xbiv2]

Corrupted bitcoin-core developers.
Just setup bitcoin-core 2014 https://github.com/bitcoin/bitcoin/releases/tag/v0.9.1 while it still available for download.
Bitcoin-core developers not trustable anymore, too many political interests, money and speculations.

[Genesis Crypto]

The biggest disadvantage i can see about the Bitcoin is the delay in confirmation and i could see the transaction fees getting higher i future.We need fast transactions for the bitcoin to be a major player in world economics

[Rostadom]

I think generally, these are the disadvantages of BTC:

1. Most elders does not accept bitcoin as part of their daily money involvement, due to their capacity to understand the innovation of technology nowadays.
2. Bitcoin values are unstable in terms of monetary exchange. Values in currency are altered everyday as noticed on the graph situated at coins.ph.
3. BTC cannot function without the aid of other currency providing system such as banks.

#3 that is the case for now but that's not going to be the case forever. Bitcoin is believed to replace fiat currency because the technology of cryptocurrency makes the technology of fiat currency totally obsolete. The only problem that we are facing is the fact that not everyone knows about crypto yet and not everyone is well-informed enough to embrace the idea of it. Once these problems are solved, people will be using bitcoin to transact with each other and prices will be based off bitcoin, not fiat.

Another thing I want to point out is: Let's say that fiat system has destroyed themselves like hyper-inflation or even just long term constant inflation. Bitcoin doesn't get affected by that. As a matter of fact, the affected people might even switch to using bitcoin. Let's say the whole world's fiat system gets destroyed, then bitcoin has nothing to say about it. Bitcoin wouldn't get affected at all. The prices of commodities will be based off bitcoin.

[concept2]

I think bitcoin price is pumping & dumping at any time it's one of the big disadvantages.

You are wrong. Absolutely Bitcoin price pumps and dumps but just sometimes it go down like the others cryptocurrency. We are investing, that's why we have to choose the best and suitable currency to buy and sell it at the right time to gain more income. The biggest disadvantages of Bitcoin is still a lot country don't accept Bitcoin as a legal money.

[choppork]

I think bitcoin price is pumping & dumping at any time it's one of the big disadvantages.

You are wrong. Absolutely Bitcoin price pumps and dumps but just sometimes it go down like the others cryptocurrency. We are investing, that's why we have to choose the best and suitable currency to buy and sell it at the right time to gain more income. The biggest disadvantages of Bitcoin is still a lot country don't accept Bitcoin as a legal money.

We can also claim that that is the biggest disadvantage of all the existing currency. Even dollars isn't actually accepted in foreign countries. You still have to convert your dollars, which is quite a famous currency, into their local currency before it gets accepted.

I think it's actually an advantage of bitcoin because in the long run, the situation can be changed. Fiat currencies will always be only exclusive for the local people. Like, Yen will always be only used in Japan. In case that Japan conquers another country, there might be a chance that they will start using Yen as well but surely Japan will not conquer the whole world.

Bitcoin, on the other hand, is flexible. Bitcoin can become a universal currency because it's not under any government. Bitcoin can be used in Japan, in China, in USA, without any hassle at all. You can use it but at the moment, there's not much merchants accepting it. It's only a matter of time and mass adoption for it to be changed.

[qwertyup23]

I think bitcoin price is pumping & dumping at any time it's one of the big disadvantages.

You are wrong. Absolutely Bitcoin price pumps and dumps but just sometimes it go down like the others cryptocurrency. We are investing, that's why we have to choose the best and suitable currency to buy and sell it at the right time to gain more income. The biggest disadvantages of Bitcoin is still a lot country don't accept Bitcoin as a legal money.

We can also claim that that is the biggest disadvantage of all the existing currency. Even dollars isn't actually accepted in foreign countries. You still have to convert your dollars, which is quite a famous currency, into their local currency before it gets accepted.

I think it's actually an advantage of bitcoin because in the long run, the situation can be changed. Fiat currencies will always be only exclusive for the local people. Like, Yen will always be only used in Japan. In case that Japan conquers another country, there might be a chance that they will start using Yen as well but surely Japan will not conquer the whole world.

Bitcoin, on the other hand, is flexible. Bitcoin can become a universal currency because it's not under any government. Bitcoin can be used in Japan, in China, in USA, without any hassle at all. You can use it but at the moment, there's not much merchants accepting it. It's only a matter of time and mass adoption for it to be changed.

I think the biggest disadvantage and at the same time advantage of bitcoin is its nature being decentralized. Since the government cannot regulate it, it can be a potential gateway for illegal activities and it also cannot be tracked. Lack of government intervention results to its price being highly volatile but it can also be considered as an advantage for investors. Another thing, one big disadvantage of bitcoin is the accessibility of it to the public. One may require an internet connection to be able to have an opportunity to earn bitcoin but most of the population around the world lives in the poverty area which does not have any access to these.

[choppork]

I think bitcoin price is pumping & dumping at any time it's one of the big disadvantages.

You are wrong. Absolutely Bitcoin price pumps and dumps but just sometimes it go down like the others cryptocurrency. We are investing, that's why we have to choose the best and suitable currency to buy and sell it at the right time to gain more income. The biggest disadvantages of Bitcoin is still a lot country don't accept Bitcoin as a legal money.

We can also claim that that is the biggest disadvantage of all the existing currency. Even dollars isn't actually accepted in foreign countries. You still have to convert your dollars, which is quite a famous currency, into their local currency before it gets accepted.

I think it's actually an advantage of bitcoin because in the long run, the situation can be changed. Fiat currencies will always be only exclusive for the local people. Like, Yen will always be only used in Japan. In case that Japan conquers another country, there might be a chance that they will start using Yen as well but surely Japan will not conquer the whole world.

Bitcoin, on the other hand, is flexible. Bitcoin can become a universal currency because it's not under any government. Bitcoin can be used in Japan, in China, in USA, without any hassle at all. You can use it but at the moment, there's not much merchants accepting it. It's only a matter of time and mass adoption for it to be changed.

I think the biggest disadvantage and at the same time advantage of bitcoin is its nature being decentralized. Since the government cannot regulate it, it can be a potential gateway for illegal activities and it also cannot be tracked. Lack of government intervention results to its price being highly volatile but it can also be considered as an advantage for investors. Another thing, one big disadvantage of bitcoin is the accessibility of it to the public. One may require an internet connection to be able to have an opportunity to earn bitcoin but most of the population around the world lives in the poverty area which does not have any access to these.

A lot of people here (apparently) are ranting about how bitcoin requires an Internet connection in order to be accessed. I mean, what other network do we have in the world? The Internet is the only thing that connects each and everyone of us and if you don't have it, then you're practically disconnected to others. The people that don't have an Internet connection don't really affect the economy here.

They can't afford the Internet, thus, bitcoin surely outprices them. They wouldn't have any money to add to the pool of bitcoin. They can't affect us in anyway, they can't even spread FUD because they don't have an Internet connection and FUD is the most basic form of affecting other people.

[ADA0031]

BTC's disadvantage is: from the traditional financial perspective, it is difficult to price fluctuations such as virtual currency currency reference, it is difficult to cut into the real economy, such as the same car today 6 B tomorrow, 5 coins, the reality of economic impact is too large. 2. technically, BTC is just 1 block chain, block chain function and the future is limitless, there will be more good money there. 3, from the point of view of popularity, it is difficult for ordinary people to recognize, and do not forget that only 400 million people in India can not use electricity.

[n691309]

I think bitcoin price is pumping & dumping at any time it's one of the big disadvantages.

You are wrong. Absolutely Bitcoin price pumps and dumps but just sometimes it go down like the others cryptocurrency. We are investing, that's why we have to choose the best and suitable currency to buy and sell it at the right time to gain more income. The biggest disadvantages of Bitcoin is still a lot country don't accept Bitcoin as a legal money.

I do not understand why fluctuations are considered as disadvantage. They are indeed the great essence of bitcoin trading. So far, bitcoins do not have any serious disadvantage. The major drawback is same in my opinion. Rather I consider it cruel that many countries are keeping their public deprived of enjoying amazing features of bitcoins. I hope soon the world will understand the real potential of bitcoins and make them legal.

[StevenRA]

I think bitcoin price is pumping & dumping at any time it's one of the big disadvantages.

You are wrong. Absolutely Bitcoin price pumps and dumps but just sometimes it go down like the others cryptocurrency. We are investing, that's why we have to choose the best and suitable currency to buy and sell it at the right time to gain more income. The biggest disadvantages of Bitcoin is still a lot country don't accept Bitcoin as a legal money.

I do not understand why fluctuations are considered as disadvantage. They are indeed the great essence of bitcoin trading. So far, bitcoins do not have any serious disadvantage. The major drawback is same in my opinion. Rather I consider it cruel that many countries are keeping their public deprived of enjoying amazing features of bitcoins. I hope soon the world will understand the real potential of bitcoins and make them legal.

If you are an investor, fantastic. If you're a small business owner, you don't really want to accept payment in something that could lose half its value the next day.

[smookyjaidev]

biggest disadvantage is we can do transactions with anonymous names that is useful for criminals,bitcoin is not handled by government,bitcoin awareness also needed.

[FA wings]

I think bitcoin price is pumping & dumping at any time it's one of the big disadvantages.

You are wrong. Absolutely Bitcoin price pumps and dumps but just sometimes it go down like the others cryptocurrency. We are investing, that's why we have to choose the best and suitable currency to buy and sell it at the right time to gain more income. The biggest disadvantages of Bitcoin is still a lot country don't accept Bitcoin as a legal money.

I do not understand why fluctuations are considered as disadvantage. They are indeed the great essence of bitcoin trading. So far, bitcoins do not have any serious disadvantage. The major drawback is same in my opinion. Rather I consider it cruel that many countries are keeping their public deprived of enjoying amazing features of bitcoins. I hope soon the world will understand the real potential of bitcoins and make them legal.

If you are an investor, fantastic. If you're a small business owner, you don't really want to accept payment in something that could lose half its value the next day.

Yes, the biggest disadvantage is the price, the price is not stable,
It is difficult to act as a means of payment

[TTMNewsK]

For me, the biggest disadvantage of bitcoin is the price.
It is not yet stable and it is also hard to predict when it will become high or low in price.

[stompix]

I think bitcoin price is pumping & dumping at any time it's one of the big disadvantages.

You are wrong. Absolutely Bitcoin price pumps and dumps but just sometimes it go down like the others cryptocurrency. We are investing, that's why we have to choose the best and suitable currency to buy and sell it at the right time to gain more income. The biggest disadvantages of Bitcoin is still a lot country don't accept Bitcoin as a legal money.

I do not understand why fluctuations are considered as disadvantage. They are indeed the great essence of bitcoin trading. So far, bitcoins do not have any serious disadvantage. The major drawback is same in my opinion. Rather I consider it cruel that many countries are keeping their public deprived of enjoying amazing features of bitcoins. I hope soon the world will understand the real potential of bitcoins and make them legal.

If you are an investor, fantastic. If you're a small business owner, you don't really want to accept payment in something that could lose half its value the next day.

And that is the main reason why 99% of the stores that "accept" bitcoin are actually accepting fiat.
They use third party gateways so you pay BTC and the processor exchanges the BTC for fiat and the store gets fiat.

And there we have the major problem with BTC.
It was supposed to cut the middle man.
But what happened in reality is that we changed from Visa to Bitpay.

[tinhyeumaunang]

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 issue of most concern is the safety of bitcoin when using, as well as the security of bitcoin to be able to put it in circulation with a formal. Bitcoin difficult to manage, so this will be a hindrance.

[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

Until two weeks before,high transaction fee and slow transactions in case of low transaction fee was the biggest problem which bitcoin network was facing.But now,it has been almost solved.But still,another issue,the high volatile nature of bitcoin price continues.It has been the main reason due to which most countries have not yet legalized bitcoins and more companies don't accept bitcoin as payment.Since bitcoin is a decentralized currency,the volatile nature would continue to exist since there is no central authority to control the bitcoin price.

[J Gambler]

biggest disadvantage is we can do transactions with anonymous names that is useful for criminals,bitcoin is not handled by government,bitcoin awareness also needed.

i think for me, being anonymously earning it and spending bitcoin is an advantage for us, because government may not trace our recent transactions, it is an advantage for us, but the disadvantage of it will be in the government. bitcoin might be use by some offenders because it is not traceable, it is kinda bad , because sometimes bitcoin used for bad thing that would be the disadvantage.

[JimmieA]

Bitcoin is not completely implemented in every country and due to very low transaction fee many people are using for illegal activities, The price of bitcoin is also not stable.

Oh ... I think that the btc transaction fee is not low.Currently, all btc transactions are charged approximately $ 3. Whether trading is worth 1btc or 0.1btc.In my opinion, this really is not reasonable. It will obstruct many users because the cost of implementing regular transactions to meet their needs is quite high.

[notyours]

Biggest disadvantage of bitcoin is it cannot control by anyone and the main thing that i worries is every wallet is can be lost at anytime. Its only generated but not have ownership to anyone.