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Author Topic: What do you think are the biggest disadvantages of Bitcoin?  (Read 71614 times)
Kizaki
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November 10, 2017, 04:23:53 PM

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 Wink

Its good security is the reason why government dont accept them. It is hard or impossible to track transactions taken illegally. Also, it is not a stable as the local currency we currently have as bitcoin is based from people. Also, they cant capitalize and control the money within it. Bitcoin is decentralized and they don't like it. I hope that they will soon adopt it as it is a good step for a new generation of currency.

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November 10, 2017, 05:20:34 PM

I think the most advantage being also the most disadvantage of Bitcoin is anonymous. Most people choose Bitcoin by this feature. Otherwise, most governments also ban it by this feature.

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November 10, 2017, 07:29:27 PM

The biggest disadvantages of bitcoin are the loss of time due to the constant need to monitor the movement of the bitcoin price, a very active fluctuation every minute to make a bitcoin user especially those who trade like me make time so precious that a trader loses his time to be with the family.



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Bitcoinislifer09
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November 10, 2017, 11:48:58 PM

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 Wink
It's very dangerous for everyone because you do not know who is bitcoin users  because they are anonymous. Bitcoin is also used for terrorism. So this is the disadvantage of bitcoin despite earning big money.

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November 11, 2017, 01:39:19 AM

Manipulation by rich dishonest people
nethan1btc
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November 11, 2017, 01:52:39 AM

Disadvantages of bitcoin are it is not yet being legalized in most countries that's why they don't believe in bitcoin and they think it is scam. Also, It's very dangerous for everyone because we do not know who is bitcoin users because they are anonymous.
You're right in that point of anonymity of bitcoin, yes that is the main issue of bitcoin which people can really make or done illegal stuff because of it. For some it is really a good feature but there are really negative side on bitcoin which we cant really change off, that's why some people when they do hear about bitcoin on the first place they will neglect it because some media do make bad impressions on the public.

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Princa
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November 11, 2017, 02:01:19 AM

slow transactions fees and the constant infighting we deal with everyday
orka39
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November 11, 2017, 02:05:29 AM

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.

Bitcoin is great for me. But beside, bitcoin for sure has disadvantages that make people dont trust with bitcoin.
Actually i have the same opinion that biggest disadvantages is bitcoin implemented to use for chrime activities.


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November 11, 2017, 02:35:46 AM

I think the disadvantages of bitcoin is that its not being  reputed as standard currency. Its not being legalized in all country, maybe known but not accepted by all.They think bitcoin is not established. It's a currency that can't hold literally, that's why some other people hard to understand its value.

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November 11, 2017, 05:02:22 AM

slow transactions fees and the constant infighting we deal with everyday
Based on my experiences on the recent transaction that i did in bitcoin, it is not slow like before and the price tag of the transaction fee  is not too high and it is just enough for me to pay because i know that the miners deserves a reward and those fees will encourage other people that mining bitcoin is still profitable and a good business to start.

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November 11, 2017, 05:08:55 AM

the biggest disadvantage in this bitcoin is not much secured. there are some possibility that bitcoin may be hack or scam. i am also thinking that the high price of the bitcoin can make a person get rich quickly and also can make a person poor in one snap if he scammed

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November 11, 2017, 10:52:05 AM

There are some disadvantages of bitcoin that we know. But i dont really care with that.
But as we know, maybe the biggest of that is fluctuation of bitcoin price that make some people really fear to get involve with bitcoin.

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November 12, 2017, 09:40:40 AM

I dont actually see a drawbacks but i think its since of the bitcoin is well-liked in many men and women but not too popular all above the globe there are nonetheless so several folks didn't know about it and this technology is even now not been verified in several countries in the world there are so a lot of men and women not ready for adjust in this type of technologies also deficiency of partnerships of bitcoin in several businesses.
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November 12, 2017, 09:44:34 AM

The biggest disadvantages are :

* Transaction costs are too high for BTC to ever be used in everyday transactions
* Speed of confirmation way too slow for it to ever be used in everyday transactions
* Regulatory risk from governments around the world.

For me, these are the 3 biggest headwinds facing BTC and will eventually put a cap on the value. These 3 issues will stop BTC coming a mainstream form of currency and ultimately lead to huge volatility over the coming months and years.
Ben100
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November 12, 2017, 05:43:18 PM

As each coin has two side, bitcoin too have the same. Being so successful and making billions of bitcoiner, it too has some disadvantages. Instead being so successful, it is non governmental and not under the control of government, It causes several terrorism and illegal activities and being tax free it creates other social issues. Other issue is it's fluctuating value and third is being difficulty in converting into other local currencies. Other bitcoin is very successful across all over the world.
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November 14, 2017, 03:34:10 AM

I think the disadvantage of bitcoin is not much secured because it is not well regulated and also theres no central bank has approved it yet so only you can control or  hold your wallet .
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November 14, 2017, 05:30:18 AM

The biggest disadvantage of Bitcoin is that it is very volatile and price of bitcoin keeps changing very fast and sharply which is not the case with other currencies which are very stable. In simple words, bitcoin is not for weak hearted and conservative people and that is the reason why many people stay away from doing transactions in bitcoins.
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November 14, 2017, 05:34:17 AM

The biggest disadvantage of Bitcoin is that it is very volatile and price of bitcoin keeps changing very fast and sharply which is not the case with other currencies which are very stable. In simple words, bitcoin is not for weak hearted and conservative people and that is the reason why many people stay away from doing transactions in bitcoins.
That volatility is the reason why we were able to earn by holding,i think the only disadvantage is that btc fees were too high

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November 15, 2017, 09:19:05 AM

In my humble opinion the biggest disadvantage of bitcoin it is huge comission, especially during sending little amounts of money. Sometimes percentage is too high
In my opinion there are two disadvantages of bitcoin first disadvantage is that bitcoin is only available on internet if you have internet then its mean you have a bitcoin and second one is bitcoin have no physical shape or logo so the people want to see bitcoin and they want to fell it I hope that bitcoin will fix these two problems.

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November 15, 2017, 10:01:12 AM

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 Wink
Some of the disadvantages of Bitcoin is the instability of its value, it keeps changing all the time sometimes its high sometimes its low. And also it is not considered in some countries so not everyone is allowed to use it and work here

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