What do you think are the biggest disadvantages of Bitcoin?

[endlasuresh]

i think the biggest disadvantages of bitcoin :
bitcoin can be controlled up and down in the floor . This is a difficulty of a trader .

Currently the price stands between 5k to 6k so it is easy for traders who don't expect much margin of profit.
Yes Bitcoin can be used for buying illegal drugs etc thats why Some Govt put it Ban.

It's a Cryptocurrency newly built for Digital people, so after 1 to 2 years we all can know about it, since in this year a lot of changes occured in prices.

[Xester]

The biggest disadvantages bitcoin has for now I think is the slow time of confirmation of transaction. Sometimes it takes hours or more just because there are too many transactions but I really hope transactions would be faster soon so that we can enjoy bitcoin more. I think if bitcoin transactions are real time no matter how many people use it for transaction daily, people might consider it to be used as replacement for credit cards.

I cannot say that this is the disadvantage of it.  You already answered the reason behind the slow transaction is that there are too many transaction build up.  I guess it is just normal even on remitting money abroad, it takes like hours before someone on the other part receives the money.  So basically it is not really a disadvantage.  It would be called disadvantage if you do not know how to be patient.  Maybe you should atleast withdraw your money earlier before the time you need it.

[NavI_027]

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

Although the advantages of bitcoins are very promising, it still have some disadvantages. First, bitcoins have an unstable value, that's why some of investors hesitate to invest because they're afraid of losing. Bitcoins are also vulnerable, it's safe for now because these are still hard to trace but what if the time will come that hackers find a way to robbed our bitcoins. Another thing, bitcoins are not yet fully accepted by others, it only means that there's still a possiblity that it will become valueless

[Ultegra134]

The biggest disadvantages bitcoin has for now I think is the slow time of confirmation of transaction. Sometimes it takes hours or more just because there are too many transactions but I really hope transactions would be faster soon so that we can enjoy bitcoin more. I think if bitcoin transactions are real time no matter how many people use it for transaction daily, people might consider it to be used as replacement for credit cards.

Slow confirmation times is one of them, but not really a major issue. When the demand/usage is increasing, the transaction fees also increase, which is one of the most major issues of Bitcoin. Thus, using it for transactions becomes unprofitable and unapprochable. Price volatility isn't really an issue, it's one of the "features" of cryptocurrencies.

[Restmand]

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 number one disadvantage of bitcoin is it being alive only in the internet or online. yeah we know the bitcoin is really useful int he internet because it has faster transaction in every negotiation and have an expensive value. but what if there's no electricity ? we know that the basic requirement to acquire or to used the bitcoin is internet and we know that we can't access or used internet if have no electricity i hope that they make a plan or way to make bitcoin not only in the internet but in real life

[finom.io]

I think that major disadvange is that it's too slow.
Some of the other cons mentioned in the post like being used on black market etc apllies not only to bitcoin but to fiat money and gold at some point.
Volatility is natural for every new kind of assets, so it will probably change later.

[RavenHood]

In my opinion the biggest disadvantage of bitcoin is limited, limited by 21 million. The other disadvantage of bitcoin is the price of it; sometime the prices are so low that your investments are losing and still difficult to sell.

[dutchkay]

Bitcoin transaction speed is way too slow. check out our traditional bnks and compare the speed of transaction with that of Bitcoin , if they can match that , they we are close of being accepted officially globally. Everyone is not using Bitcoin now and the network is like this, imagine where by everyone floods it and what will happen.

[Giebaymax]

the disadvantage is probably when we sell at a low price and by that time the price has increased in just a few days and that's what I often feel 

[Fatanut]

In my opinion the biggest disadvantage of bitcoin is limited, limited by 21 million. The other disadvantage of bitcoin is the price of it; sometime the prices are so low that your investments are losing and still difficult to sell.

If bitcoin was not limited, then bitcoin will have zero value at all. It's unlimited, therefore it doesn't have value or it doesn't have much value. You are either being sarcastic or plainly looking at things the wrong way. The price of bitcoin is a disadvantage how exactly? The people who started out on bitcoin a couple of months ago have already doubled, tripled, or ten-fold their money. So how is bitcoin being a good investment a bad thing? That's the cycle. Bitcoin might be of high price today but if you buy today, you're going to earn some profit in the future just like everybody else.

Yes, sometimes the price is low but you have to deal with it. You simply have to think that the price will go back up and that it's not mandatory to sell. It's okay to hold your bitcoin for a long time and it's probably the best way to maximize your earnings from holding bitcoin.

[asebaby]

Lack of Awareness and understanding,many people are still unaware of what BTC is all about,so such ones needed to be educated about Bitcoin.
Risk and Volatility is also another disadvantage.

[Emerge]

the biggest disadvantage of bitcoin is that a few people belive that the price will go to the moon, it does this since from start

[Didle1938]

Nicely probably I think about the problem of price on each transaction. It will most likely slowly and gradually make individuals not use bitcoin, since even small transactions have big chunks. I consider which is the only drawback of bitcoin

[drlukacs]

The biggest disadvantages bitcoin has for now I think is the slow time of confirmation of transaction. Sometimes it takes hours or more just because there are too many transactions but I really hope transactions would be faster soon so that we can enjoy bitcoin more. I think if bitcoin transactions are real time no matter how many people use it for transaction daily, people might consider it to be used as replacement for credit cards.

Slow confirmation times is one of them, but not really a major issue. When the demand/usage is increasing, the transaction fees also increase, which is one of the most major issues of Bitcoin. Thus, using it for transactions becomes unprofitable and unapprochable. Price volatility isn't really an issue, it's one of the "features" of cryptocurrencies.

Because we need to spend some money to "bribery" the miners, if you do not raise your fees, the miners will ignore your transaction and choose other transaction paid them high fees to work first. You must to remember have not place has not such thing here.

[SiDtHeBeSt]

Well, one of the biggest disadvantage of bitcoin would be that not alot of people know about it yet, of course many people are getting to know about bitcoins but still it will take time for more people to accept bitcoins as payment. Also bitcoins prices aren't that stable that might be another disadvantage(if the price falls) for the people investing into bitcoins.

[Kamote_1102]

Bitcoin is not yet stable. You need to trade it with real money and it has a fee. You cannot use it instantly when you want to buy something. And of course, some countries are not allowing bitcoin. And the value of bitcoin changes every time.  Investing in bitcoin is a risk too. And Bitcoin can be used to some illegal activities. And since it’s a digital currency, that means it can be hacked or scammed too. Well, that’s only my point of view.These are the disadvantages I know about Bitcoin.

[Faxmate]

I think a number of things.

• The fact that nobody can control it.
• The instability of the price.
• The inability to charge crazy bank like fees for using it.
• The fact that it is almost anonymous.
• It wasn't created by 'them'.
• Still a new technology, unproven.
• Has received a lot of negativity, bad press & illegal happenings.

These are just a few that come to mind right now.

Additionally, not everybody has the access to bitcoin, some countries are banning as well. Also, people must have skills and should be  alert when it comes to online scamming etc. Also one must have access to the internet. As well as it's worth is not stabilized.

Well in my opinion I think there are two disadvantages of bitcoin first thing is it need internet and second thing is it has no physical shape which is I think a big disadvantage of it because there are a lot of people who are demanding for his physical shape and there are a lot of people who want to join bitcoin but they don’t have internet.

[Beareonetu]

i think a single of the drawbacks influencing bitcoin appropriate now is the higher fees  we need to shell out if we want our transactions to be confirmed more rapidly and their is also some division in the crypto on operating out whats best for the cryptocurrency simply because of some individual agendas tied to it

[Lumen111]

Bitcoin-coin of the information society.
As for any information, the speed and cost of transmission are appreciated.
At the moment, these are the drawbacks of crypto-currencies.

[saif.shaikha]

I think awareness about bitcoin is still very low and it is difficult to understand for normal users as atleast a basic understanding of technology is needed before people can use it.

In addition the volatility of the bitcoin price and negative publicity of government crackdown is holding bitcoin back.