What do you think are the biggest disadvantages of Bitcoin?

[emondot]

Although the value of BitCoin shows a positive signal with continuous improvement, did not rule out the value can fall at any time. Global issues greatly affect the value of BitCoin up to 50 percent!. If the negative issue blows, its value will decrease. Once back, if there is a positive issue then the value of BitCoin will increase.

[DexterRock]

One of the big disadvantages of bitcoin is the price instability....

its good for the "investors" and those who believe in bitcoin, but for the normal average joe, it can be too much volatility.

Another weakness is the lack of ways to easily get bitcoins in most countries...

I do not understand what would stop you from getting bitcoins in any country, if you cannot access an exchange because ISP is blocking the website, you can use a proxy server or VPN service to mask your location...

[DexterRock]

Without a doubt in my mind, when looking at cryptocurrencies in general, the issues of scalability have to be immediately addressed. Unless we can implement the coins into our society in a way that is instantaneous, while remaining low transaction fees, it will never become mainstream.

Blockchain technology is here to stay until someone comes up with something new and better. Yes there are issues with bitcoin like long confirmation times and high fees for small transactions... Altcoins take that issue away but it may still be years long before we pay with coins in coffee shops. Bitcoin is now listed on CME which kind of makes is mainstream. By the way if you make text bold it does not make it more true, you know.

[zorchy]

The biggest flaws in bitcoquine, in my opinion, can be attributed, incomplete understanding for people as a currency, more percentages of the population do not want to stop using the old system of transfers and payments.

[ghostunicorn]

There are so many people in the country that they have become a lot of black money and wealth the owner which no pay tax evasion. Since bitcoin transaction does not identify at those moments they invest all money in bitcoin.Then the government will not get the speed of national income.

Tax is the most important problem of bitcoin. And we can also say that slow speed of some transfers are also very negative about bitcoin.

[pedropendukot]

It can be use by the criminals for smuggling and buying drugs online?

[chukaday]

It has to be the fees and the speed at which transactions confirm but I think a close second is the public perception of bitcoin. It has shifted dramatically in the past 6 months but it needs more work if we want to get taken more seriously by the average joe in society.

[jonald01]

Many people say that the delay during confirmation is the biggest disadvantage of bitcoins, but I do not think it's a big problem if you add a higher fee, as if you wanted to make money quickly in your purse, then you must afford to pay a higher fee and for me it does not matter.

[hachiman13]

it has to be the scalability issue. For it to be ready for mass adoption, the developers need to implement more ways to trim down tx fees and confirmation time. Solutions like  LN is good but the problem is, less people are using it right now.

[saffira]

The value is volatile. You have to wait for the price to increase. Your money may lost if you invest too much and the value fluctuate. The value is too high that most people cannot afford.

[Bdstar]

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

There are some significant issues whose are the biggest disadvantages for me, such as the transaction process, people are talking about this delay response and transaction process. Normally, people want to make sure that the transaction process should be easier and safe. but Bitcoin doesn't ensure this system yet.

On the other hand, Misinterpretation is also a great factor for Bitcoin, the issue of legalization. but people don't understand the actual status yet. I think these two are the most common disadvantages regarding Bitcoin.

[RoccoSiffredi]

In this moment the fees are making Bitcoin completely unusable. Secondly, Bitcoin cannot really be used as a currency because of its volatility. People buying 2 pizzas with 10,000 Bitcoins in 2010 have then to survive to the thought that they would have been almost billionairs now had they kept those coins.

[Maslate]

In this moment the fees are making Bitcoin completely unusable. Secondly, Bitcoin cannot really be used as a currency because of its volatility. People buying 2 pizzas with 10,000 Bitcoins in 2010 have then to survive to the thought that they would have been almost billionairs now had they kept those coins.

That's the only problem I see, when the fee is high it's hard to use it for micro transaction because people want a fast
and cheap transaction. Gone are those days where fees are cheap because the price has significantly increase and miners want to make money also.

[curry30]

 I think their are many investor that they invest their money but many site is risky they disappointed,and also bitcoin is not easy to work because their are people have bad interest in bitcoin like many scammer they scam many people to get their bitcoin.

[bemchan]

I think the biggest disadvantages of Bitcoin is :

It will be hard to trace the person behind a transaction . and also trading with bitcoin has slow especially when you are transacting.

[19Nov16]

I think the most disadvantages about bitcoin is speed, it must be admitted that the global transaction system requires high speed, and now the speed of the transaction depends on the fee and this is a disadvantages.

[nevafade]

The biggest disadvantages of Bitcoin are the following:
1. Mining - consumption of energy is high.
2. Price Instability - in stock market, sometimes the value keep changing... Increases or decreases..
3. Transaction Fees - for every transaction, fees are very high.

[cjinny]

I think bitcoin needs to improve on the issue of bitcoin transaction fees that are currently quite expensive, this is detrimental to bitcoin because people are not interested in using bitcoin as a means of transaction because of the above factors.

[gjtnwls1]

I think Bitcoin transaction time is too slow and it can not be used in real life. Also the team don't agree each other so they can not come up with any solutions.

[realsteve]

I think a number of things.

• Still a new technology, unproven.

I think it is so foreign to the average person they don't understand it well enough to use it. There are so many people who are just barely getting exposure to bitcoin. There is a learning curve so it's just easier for people to use other forms of payment and not explore how bitcoin works.