What do you think are the biggest disadvantages of Bitcoin?

[Richy007]

High fees, paid $11 to send $60 off Coinbase over the weekend, that's ridiculous.   

[daarul50]

Right now the biggest disadvantage is the high fees and the limited block size. The 1 MB block size is a big problem right now. And that is the reason why the exchange rate of BTC is going down, while that of Bitcoin Cash is going up.

Until now the cost is high for each transaction because the number of enthusiasts bitcoin every day is always increasing. however, we should be grateful even though the high cost of bitcoin transaction still we do not feel a significant loss to the cost so that users also feel happy about the development of bitcoin because the more popular bitcoin the more people to switch to using bitcoin as a tool to transact.

[The Alchemlst]

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

being exposed to countless online threats and hackers are the biggest advantage that I could think for bitcoins since it is internet based. Though it is also its advantage because it can process transactions anywhere in the world so fast and with minimal fees and processing time unlike normal currencies. Aside from that this disadvantage of bitcoins can be reduced depending on different safety precautions.

[Nana21]

The only disadvantage of bitcoin at a moment is that it is not accepted at offline places like restaurants or malls where we can spend them to buy food or clothes and apart from that I don't see any disadvantages attached with bitcoins.

[Bambinoe]

Waiting time on transactions and fluctuating prices...

[Rj Manik]

The biggest disadvantages of Bitcoin transaction fee.Moreover bitcoin transaction time is long.It take long time pending.Bitcoin market all time highly fluctuate
Sometime bitcoin price highly increasing and sometime highly reducing.It is a biggest problem.

[StonedWolf]

I think two things are the most disadvantageous about bitcoin. The first is the rate of fee extremely high, for example with the blockchain wallet to send 100 dollars you have to reserve 10 dollars for the fee. Otherwise, the second thing that concerns a minority of bitcoin user is the extremely high cost of bitcoin minning.

[Mei1418]

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.

Thanks for your information sir,

[watchurstep45]

 we cannot deny that bitcoin has disadvantage, although bitcoin has many advantages.

[Rosa Paula]

The biggest disadvantages of Bitcoin is Nobody can't control this.I heard there is no system to find out and knowing bitcoin transaction person.Money laundering can not be found through Bitcoin.Moreover Small traders struggle to carry bitcoin transaction fees

[mrayazgul]

There's some disadvantage of bitcoins which i have listed below in bullets format.

1) Wallet can be lost if you forgot your private KEY
2) Bitcoin Valuation Fluctuates
3) There's no buyer protection since its untraceable
4) Most of countries banned
5) Use in criminal activities
6) Involve in drugs money lauding

[Colt81]

The biggest disadvantages of bitcoin is that bitcoin can be stolen by anyone in many ways. Bitcoin service providers can be hard to trust, but even if it is, we must to trust bitcoin. You joined in the field of bitcoin then it means you trust it. There is a lack of acceptance, lack of protection because it is not considered as legal in most countries in the world.

I absolutely agree to that, but if you do not want to stole your bitcoin you must put your password or private key in a safe place so that your bitcoin will be not stolen by anyone. In addition, one the biggest disadvantages of bitcoin is you can used in offline transactions and offline market.

[Bitcotalk]

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.

Exactly I consider this advantage of bitcoin too. I don’t understand why the developing team of bitcoin is not working on advertisement of bitcoin. Even the nappies and always are being advertised on every TV channel then why bitcoin is not being published so openly. Why governments are not making it legal even they know better how much precious it is in upcoming time.

[carodupuis]

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.

Well I don’t consider them as such the disadvantages of bitcoin because bitcoin is still in the process of improvement and it is really obvious that with time bitcoin sis going to cover all these shortcomings. I don’t think so there is any problem in waiting for confirmation of transactions when you are making a totally independent transaction without involving any other party. This wait is nothing compared to the profits it produce.

[Pettuh4]

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.

Exactly I consider this advantage of bitcoin too. I don’t understand why the developing team of bitcoin is not working on advertisement of bitcoin. Even the nappies and always are being advertised on every TV channel then why bitcoin is not being published so openly. Why governments are not making it legal even they know better how much precious it is in upcoming time.

Will you pay the core devs  for the advertisements or will you contribute  an amount every month should we all decide to support? There are many out there like you who propose such brilliant ideas but fall short when it comes to forking out money to implement your brilliant ideas. Do you expect the core devs after all their brain power to use their pocket monies  for advertisements also?

[haiyou]

If I want to say what I want most to say now, that is the current bitcoin price is too high, I hope there will be a chance of intermediate adjustment, so that I can promptly admit with more acceptable prices, although now It is difficult to see this opportunity, but I still quietly waiting

[racham02]

For me the biggest disadvantage of bitcoin is when the value price decrease fastly, not always maintain or the price value isn't stable sometimes and thier some people who are concerned to invest in bitcoin they are afraid of losing there money that they have.

[ZenaXF]

It is illegal in many countries and regions, especially in large markets such as China. China has unlimited market potential, and some Chinese people have to pass intermediate trading platforms with delays.

[anga3636]

I concur with you totally, I think this system is looking most powerless for me. value flimsiness and value unpredictability are the significant hindrances in this segment. misleading could be the another disturbing reason as far as Bitcoin.
in any case, everywhere throughout the things, I do have faith in this stage.

[HiringYou]

The factors that are preventing Bitcoin to be accepted for payment is it's decentralized nature.As it is not under the control of any government so government is not accepting it for financial transactions.Moreover transactions thorough Bitcoin are anonymous so the government is not able to identify the people involved in the transactions. This is one more reason due to which government is not accepting it for financial transactions.