What do you think are the biggest disadvantages of Bitcoin?

[Core.BUSTER]

For me, the biggest dksadvantage of bitcoin is; it is not widely accepted. Infact, some countries are banned this kind of technology. If you want the list here https://en.m.wikipedia.org/wiki/Legality_of_bitcoin_by_country. Second, it has no physical form. You cannot spend it ti any physical stores. Only few stores are accepting bitcoin. You need to convert it to cash in able to buy. Third, bitcoin can be lost. Just like physical.money, it can be lost. For example. You have stored your btc at your pc, but the pc crashes. Your wallet is lost and also your btc.

I think the biggest disadvantages of bitcoin you can't use it in any offline store because they not consider it as money. In addition to that, bitcoin is not widely accepted and as of now bitcoin is still illegal in some country. Lastly, I think being decentralized is also one of the disadvantaves of bitcoin.

[yuni52]

I think not everyone knows and uses bitcoin is basically this economy based on paper money so it is still too risky

[Chanock]

The disadvantage of bitcoin is fastest fluctuation of value to USD. The one biggest disadvantage is bitcoin can't used buy stuff in the store not using digital transaction and even in the remote area. It cannot used in payment in bus, jeeney, and taxi.

[bobri]

Disadvantages of bitcoin.

Not secure : i along most of other constantly get scammed by these scumbags  that steal your bitcoins for the service they offer. Once they got your funds, they disappear.

The price keeps jumping to extremes. They are times when it's down. Then they are times its really at the top.

Still having difficulty for most developing countries to accept bitcoin.

[Saoha]

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 there are four reasons why Bitcoin can not become formal payment:
1- Not many people know the existence of Bitcoin. Although the numbers are increasing, developing countries do not have as much exposure to high technology as bitcoin.
2- Bitcoin prices fluctuate sharply: up to 10-15% per day. This has made many people unhappy with their money, despite the overall trend of bitcoin prices rising rapidly in recent years.
3- The size of the block needs to increase as bitcoin users get more and more so it seems is also slowing down a lot. Although hardfork and segwit.
4- Bitcoin is not really safe. There have been hackers stealing bitcoin. Bitcoin is also used for money laundering purposes.

[Foromany]

Well probably I consider about the concern of price on each and every transaction. It will probably slowly and gradually make individuals not use bitcoin, since even tiny transactions have large chunks. I consider that is the only disadvantage of bitcoin

[chuitahgn]

The high fees are charged by some wallet services. This can make people completely avoid some wallet service. One thing that needs to be agreed is based on the ever increasing value of increasing transaction fees but every time the transaction fee is the same

[andrei56]

I think the biggest problem its not the bitcoin code, the biggest problem in this moment its the difficult to buy bitcoin from a safe exchange, the technical knowledge needed to set up a wallet, and the difficult to use a digital currency in the physical world.

I think the biggest problem has become the politics in bitcoin, the scaling debate stopped being a technical debate a long time ago and now it seems more like the usual politics you see everywhere, in my opinion this has delayed the rate of adoption significantly, so I hope we are able to leave it behind.

[Succurs]

Independence is the power and weakness of bitcoin. It is simply exploited to commit violent acts, several articles or blog posts have been written about this ahead of. Bitcoin is used in cash laundering, unlawful buying and selling and transportation of unlawful products. Bitcoin is utilised as a resource to have out offenses. That is a quite bad thing for a coin. Its reputation is greatly impacted.

[fragout]

Without reading the whole thread. For me its POW. Its too centralised and a waste of resources. 10 min blocks dont help but there are ways around that. Too few control the direction bitcoin is going

[crypto4lambo]

I think its biggest disadvantage is that it is decentralized. Meaning no one can control it. Banks and financial instituions can't manipulate it. Plus they can't charge high fees in transactions. And one thing to be considered also is that government  can't easily trace who transact with bitcoin which in that case is prone to illegal transactions. And I think that it is not advisable to accept bitcoin as payment at this time because of its volatility in price.

[llhibionada]

if you compare it to a bank interest which gives a really small amount of interest like in my country u can refer here https://www.landbank.com/interest-rates , bitcoin can earn a vast amount if u just know how to put timing in it especially if have bought it when it was cheap and even now the price is still increasing

[mevmike]

The use of bitcoin cannot be utilized to the fullest since it still wasn't legalized by governments.
If ever the use of bitcoin and other cryptocurrencies were legalized or accepted by the government.
I think it will be developed further.
Fluctuations in its price can be attributed to this, just like what happened in the ICO ban in China.
But once it is legalized, people will not be afraid or hindered from engaging on it.
And we can also avoid the scam accusations whenever we try to educate or promote bitcoins to those who do not know about it yet.

[mornabo]

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 there are four reasons why Bitcoin can not become formal payment:
1- Not many people know the existence of Bitcoin. Although the numbers are increasing, developing countries do not have as much exposure to high technology as bitcoin.
2- Bitcoin prices fluctuate sharply: up to 10-15% per day. This has made many people unhappy with their money, despite the overall trend of bitcoin prices rising rapidly in recent years.
3- The size of the block needs to increase as bitcoin users get more and more so it seems is also slowing down a lot. Although hardfork and segwit.
4- Bitcoin is not really safe. There have been hackers stealing bitcoin. Bitcoin is also used for money laundering purposes.

yeah I think the block size should increase, if bloksize has a continuous number like this then the confirmation will be very slow. I think the dev or bitcoin team should start discussing this, as users continue to grow each day and confirmation will also continue to slow down if this is not resolved soon. do not let many users out of bitcoin just because of this problem

[Aikee17]

The biggest disadvantages of bitcoin are its value itself. We cant predict when the bitcoin increases its currency. Sometimes informal payment of bitcoin.

[Pattart]

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 there are four reasons why Bitcoin can not become formal payment:
1- Not many people know the existence of Bitcoin. Although the numbers are increasing, developing countries do not have as much exposure to high technology as bitcoin.
2- Bitcoin prices fluctuate sharply: up to 10-15% per day. This has made many people unhappy with their money, despite the overall trend of bitcoin prices rising rapidly in recent years.
3- The size of the block needs to increase as bitcoin users get more and more so it seems is also slowing down a lot. Although hardfork and segwit.
4- Bitcoin is not really safe. There have been hackers stealing bitcoin. Bitcoin is also used for money laundering purposes.

For number one I think along with the increasing number of users and the spread of bitcoin in different countries then bitcoin will automatically have many bases in many countries and many online / offline merchants that accept bitcoin and that much happening in my neighborhood.
For number 2 I think it is not a problem. because merchants have direct payment system where after user pay with bitcoin then system will directly convert to fiat to avoid fluctuation

[Bitcoininvestment]

I think it is the legality to some countries and by that,it also reduces the users that was supposed to be using bitcoins instead of the other cryptocoins such as alts etc.When the bitcoin reached the certain no. of countries that it is legal I think that its value will also increase.

[azaid18]

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 transaction is very slow because of the widening of users . they cant manage it fully because of millions of user that is transacting every minutes

[shezu007]

There is no disadvantage of bitcoin means there is no backward point of bitcoin so we should not say that is there any disadvantage. Bitcoin is giving to people a huge opportunity so we should go for advantages instead disadvantages.

[Lubang Bawah]

I think the biggest disadvantages of bitcoin is too complicated the algorithm to open a wallet. we all know that to login in some wallet we need identifier, if we wrong then can cause bitcoin missing.