What do you think are the biggest disadvantages of Bitcoin?

[longpro098]

Bitcoin is no legal protection, so there may still be concerns about possible disasters such as natural disasters.
Time Trading takes too much time and that is why it is not used in local markets, local businesses or daily trades in the real world.

[Victorycoin]

I think the biggest disadvantage of bitcoin is it's being unpredictable I mean the fluctuation on it's value... you cannot tell what gonna happen tomorrow it's either you wake earning on your investment of losing everything in just a snap of a finger.

Some other person would argue that the fun in Bitcoin comes from the fact that though it's price fluctuates, it always comes around and that is kind of reassuring those times when one ends up with more expensive coin and I don't see how that suggests that Bitcoin is unpredictable.

[MMA]

I think the fluctuating price that makes us profit or loss .. we can not predict the price of bitcoin like that. As well as the security of bitcoin wallets that are vulnerable to hackers .. it becomes a weakness bitcoin in my opinion.

yes that is right that the fluctuation price of bitcoin is the advantage to make money form it. because if the price of bitcoin goes up and we have some bitcoins then we can get good profit from it and the we are waiting for the price to fell down so that we can get chance to but it again at a low price and in this way we get another chance to make some profit again, so we can say that bitcoin price fluctuation is a good advantage of making money.

[basyang]

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.

     I am strongly agree with you, bitcoin is new to our economy so many country is not accepted it or maybe they are studying how they implement this cryptocurrency and how it can help in there country. all I can see disadvantage of are the Bitcoin price, is not also stable sometimes its up and sometimes its down,  bitcoin is hard to predict, lack of information what really bitcoin is, we need further information about it so that many people understand the digital currency and also there are few businesses accepting bitcoin as a payment.

[andrei56]

According to the biggest disadvantages of bitcoin is: 1. It's price is very volatility and decrease/increase at a very high pace.

2. If your BItcoin lose, then you cannot regain it. In simple words you lost it forever.

Your second point is not really a disadvantage, as the saying goes, it is not a bug it is a feature, bitcoin is that way by design, this is to avoid any third party being able to chargeback transactions, while this seems like a nice idea that allows a central authority to take your bitcoins without your permission, that is why satoshi decided against it.

[AMHURSICKUS]

The disadvantages of bitcoin is that it is not fully developed, it is not fully accepted, lack of knowledge about bitcoin and the value of bitcoin is fluctuating. When you are also mining bitcoin the consumption of electricity can be a problem, because mining involves running a lot of high-powered computer.All the electricity you use to run your hardware may make the bitcoins less of an investment than you thought in the beginning.

[millgates]

The disadvantages of bitcoin is that it is not fully developed, it is not fully accepted, lack of knowledge about bitcoin and the value of bitcoin is fluctuating. When you are also mining bitcoin the consumption of electricity can be a problem, because mining involves running a lot of high-powered computer.All the electricity you use to run your hardware may make the bitcoins less of an investment than you thought in the beginning.

Not only that,  I think bitcoin in terms of usage and transaction is transaction fee is only marginally better than debit or credit card. Bitcoin should be better to be the main choice of the world community. The transaction fee should be close to 0% and bitcoin should be easier to obtain.

[Webetcoins]

I think the fluctuating price that makes us profit or loss .. we can not predict the price of bitcoin like that. As well as the security of bitcoin wallets that are vulnerable to hackers .. it becomes a weakness bitcoin in my opinion.

I think the only bitcoin wallets that are prone to hackers are online wallets. Simply using a separate computer to make a desktop wallet saves you from it. But I guess not all of us can afford to do that. What I did was I reformat my computer and installed a new OS. You can use Linux if you want so you don't have to install an antivirus. I installed ESET Nod because it's the one a lot of people are recommending. Before I even installed that, I've already made an Electrum wallet, wrote the seed on a paper, and then deleted the wallet file. Made another wallet file using the seed so I can recheck if I copied the seed correctly, and then moved the wallet file to a flash drive.

Now I'm confident that I'm not going to be hacked. The only way I'm going to be hacked is when someone found that paper which I believe no one will except me or my family.

You are really prudent and generous as well for sharing your safety measures with all. Yep, online wallets are vulnerable to hacking and already hackers are warning people about their wallets. Though bitcoin does provide good level of security; but nothing is safe in the world of computers rather internet.

[smileee]

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 disadvantage of Bitcoin is that it has not been accepted in many countries. Also, it does not get the support of the people, except the investors.

[eleah24]

For me I think the biggest disadvantage of Bitcoin is that its value is not stable. It goes high and it goes low.

[fancy_pants]

For me I think the biggest disadvantage of Bitcoin is that its value is not stable. It goes high and it goes low.

That is not an disadvantage but that is the best thing about bitcoin that allows us to make regular profits but you can do it regularly only if you have a good knowledge of market trends and if price would be stable then it won't give you an opportunity of making regular profits.

[AbdTstpr]

I think these are the disadvantages

1.Government cant control bitcoin so that many people consider it as illegal.
2.We cant use bitcoin everywhere because all shops doesnt accept bitcoin.
3.sometimes many exchange sites get hacked or scam so people stop using bitcoin.

[ermaxinc]

Seeing what they try to make of Bitcoin is it has some kind of a bad name because of the possible usage of it in illegal things, money laundering for example.

[Cazkys]

I think that the biggest disadvantage of bitcoin is its instability. If I’m a merchant, I would be very wary of accepting Bitcoin as a payment. FOR EXAMPLE, if I received a bitcoin as a payment worth $100 now, I do not have any assurances that it will stay $100 the next day. I know that prices are volatile and that $100 can change into $1000. But what happens if I desperately needed that $100 at this certain time but its price dropped down to $50?

[NickChandi]

Bitcoin  disadvantages are :-

Bitcoin are not widely accepted
No valuation guarantee
No physical form
Built in deflation
It's valuation fluctuates

[bitcoinVPSD]

Bitcoin has many downsides. It has encountered a lot of bad news from the press. Its value is not stable. Most bitcoins are distributed mainly via the internet, so it is difficult to make small payments

[Skieleton]

Computer dependency: Virtual currencies are completely dependent on the computer, they do not exist in reality. This is quite problematic because they do not represent real value and if they do not look they are connected to the network, which can theoretically be associated with a hacker attack, although the security is almost perfect. The threat of using such currencies is also a sudden cut off from energy resources.
Money laundering: The most serious allegation against virtual currencies is probably using them to transfer money. By doing so, criminals reduce the risk of falling into a jail. The use of crypto-currency for this purpose spends the night with the eyes of justice. Although the Americans have already caught a few guilty.

[Victorycoin]

For me I think the biggest disadvantage of Bitcoin is that its value is not stable. It goes high and it goes low.

If you ask a swing trader what he thinks about Bitcoin's volatility, I suppose he/she would not miss to thank their luck for opportunities to buy low and sell high every so often. If Bitcoin price were to be less volatile, it doubtless would have been less appealing to speculators and investors and the value we are seeing of it today may well have never been.

[pharesim]

I think that one of the bigges cons- dissaventages that bitcoin haves is that it is so expensive at the moment, but by the way, bitcoin is perfect, it has everything that any person could want, for example, sending money fastly, anonymous way of paying, etc.

[pathapoddo]

There is a biggest disadvantage on bitcoin that is not available in every country.That's why it is not increasing too much.That's why the price of bitcoin is not getting increase.There is also a disadvantage that it is not stable.