What do you think are the biggest disadvantages of Bitcoin?

[Harbal]

The possible downsides of it are that it is not broadly accepted and some people never try out to realize it at all. Looking at what they attempt to make of Bitcoin is it has some variety of a poor title since of the achievable usage of it in unlawful issues, money laundering for example.

[Napole0n]

The problem of confirmation becomes very important, bitcoin should be faster and does not require too long confirmation, this is what makes bitcoin difficult to accept as a direct transaction.

[budongski25]

Disadvantages

• Bitcoins Are Not Widely Accepted
• Wallets Can Be Lost
• Bitcoin Valuation Fluctuates
• No Buyer Protection
• Risk of Unknown Technical Flaws
• Built in Deflation
• No Physical Form
• No Valuation Guarantee

But the biggest disadvantage of Bitcoin for me,
the inability to make transaction offline.
But who is the one who does not use the internet today?

[ilyadt]

A few phrases – fees, fees, and expenses. And I do not believe SegWit will be generating any progress on that issue (it may well even make it even worse). I hope the builders are contemplating rationally about this just before blindly implementing anything that could harm bitcoin in the lengthy operate.

[xBitHodler]

Transactions are definitely taking too long to confirm, if we don't make them faster then Bitcoin won't be able to replace any country currency. Fees have lowered since the attack on Bitcoin network has stopped and Segwit was implemented successfuly. Now hardforks are a little bit problematic because some of the hashpower is switching to a new altcoins which are forks of Bitcoin.

[Sithara007]

But the biggest disadvantage of Bitcoin for me,
the inability to make transaction offline.
But who is the one who does not use the internet today?

Let me ask you one thing. Is it possible to do online bank transactions without internet? If you want to do that, then you need to visit a bank branch and then manually instruct them to do the transaction. There is another option of doing the transaction through mobile banking, which does not need the internet connection. It can be implemented for BTC as well.

[Fazlurkhan.kz]

It is not worldwide recognised. For me, i think that's the biggest disadvantage!

[willnotwas]

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

Transactions are very expensive and long.

In ordinary life, I want to transfer money to my friend in 1 minute, for amounts less than $ 0.2.

[Conevesses1976]

I dont really see a disadvantages but i believe its because of the bitcoin is common in many individuals but not also well-known all in excess of the planet there are nonetheless so several men and women did not know about it and this technologies is still not been established in numerous nations in the planet there are so several men and women not all set for adjust in this type of systems also deficiency of partnerships of bitcoin in numerous companies.

[Lei Crypto bounty]

I think the Disadvantage of Bitcoin now a days is that it fluctuate rapidly, the value is not constant or close to a Value so the tendency is you will have a hard time to evaluate either to keep your money for long term or sell it otherwise if it drops, Bitcoin has a long way to improve and still not that popular to have a big capital and invite more investor and users..

[nikitano]

I consider a single of the most significant disadvantages is the amount of time it will take to verify a transaction, which will only turn out to be worse if something is not accomplished about it.If you have any marketing knowledge at all, you know the value of instant gratification. It truly is why most Walmarts are nonetheless crowded with long traces even with being in a position to get products the same day or up coming working day with Amazon Key (in a lot of locations).

[thelemot]

Bitcoin is not really for that purpose in my opinion. I think most people from all over the world use it for investment purposes, because bitcoin prices are getting more and more expensive

[FasTroy]

I think the biggest disadvantages of Bitcoin is the bitcoin transactions fees, but currently it's not a problem at all. We can see that bitcoin price is too high, and the fees now is more acceptable than the past, But i think the bad think is the high volatility of price. Maybe it's not bad for Traders, but really i don't think what can i call that exactly.

[fredo123]

Bitcoin disadvantage has its limited access in our area, If i want to buy something in our local market, they don't recognize bitcoin as currency, Meaning btc is not yet exposed to public, In case you get robbed/hacked there's no assurance to recover all your possessions. Buyers are keep anonymous, possible grounds for criminal act.

[millgates]

I think the biggest disadvantages of Bitcoin is the bitcoin transactions fees, but currently it's not a problem at all. We can see that bitcoin price is too high, and the fees now is more acceptable than the past, But i think the bad think is the high volatility of price. Maybe it's not bad for Traders, but really i don't think what can i call that exactly.

Yes, the volatility is the biggest disadvantage of bitcoin that prevent it to be accepted by merchants. This is one big obstacle for bitcoin, but the volatility is properties of the new currency with relatively low liquidity, so this is normal. The traders makes the volatility even more high, but this is what makes investors and more people interested in bitcoin.

[DoublerHunter]

I think the biggest disadvantages of Bitcoin is the bitcoin transactions fees, but currently it's not a problem at all. We can see that bitcoin price is too high, and the fees now is more acceptable than the past, But i think the bad think is the high volatility of price. Maybe it's not bad for Traders, but really i don't think what can i call that exactly.

Yes, the volatility is the biggest disadvantage of bitcoin that prevent it to be accepted by merchants. This is one big obstacle for bitcoin, but the volatility is properties of the new currency with relatively low liquidity, so this is normal. The traders makes the volatility even more high, but this is what makes investors and more people interested in bitcoin.

Volatility makes the bitcoin famous so i don't think that it is a disadvantage because people like bitcoin because of its volatility and it really depends on the store or shop if they will accept bitcoin because even bitcoin is volatile there are still a lot of people that using it and some of the shops in some of part of the world is already accepting bitcoin.

[stadus]

I think the biggest disadvantages of Bitcoin is the bitcoin transactions fees, but currently it's not a problem at all. We can see that bitcoin price is too high, and the fees now is more acceptable than the past, But i think the bad think is the high volatility of price. Maybe it's not bad for Traders, but really i don't think what can i call that exactly.

Yes, the volatility is the biggest disadvantage of bitcoin that prevent it to be accepted by merchants. This is one big obstacle for bitcoin, but the volatility is properties of the new currency with relatively low liquidity, so this is normal. The traders makes the volatility even more high, but this is what makes investors and more people interested in bitcoin.

Volatility makes the bitcoin famous so i don't think that it is a disadvantage because people like bitcoin because of its volatility and it really depends on the store or shop if they will accept bitcoin because even bitcoin is volatile there are still a lot of people that using it and some of the shops in some of part of the world is already accepting bitcoin.

I agree with that, with the price volatility we will be able to trade regularly and that is an advantage to us traders, if a newbie will look at the price movement maybe he will panic since it's not stable but when he understand it he will like its nature.
What matters now is we see the price of bitcoin goes uptrend in general so we just have to trust and be strong in holding it for the long term.

[Hazaki]

Let's start by the main reason : Bitcoin is not known by everybody and it's a bit hard to understand it's concept by some people especially those who aren't into new technologies and that kinda stuff . Secondly the waiting time for transactions to be sent , it takes several hours sometimes . And third , bitcoin had a really bad reputation in the past few years due to it's excessive use in black market , deep and dark web fields so people already tagged bitcoin as a tool for criminals .

[StonedWolf]

In my opinion bitcoin have three disadvantages :

1-Its very unstable value.
2-The funds are not always secured.
3-The fees having very high values.

[poisonivy77]

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 disadvantages of bitcoin is that it is decentralized, it is not widely acceptable globally unlike fiat. another thing maybe its dependency on the internet once it goes down everything else about bitcoin will go down.