What do you think are the biggest disadvantages of Bitcoin?

[Sendibere]

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

One, in the mining industry, is rich in power supply, secondly, we do not know when to increase or decrease the price of bitcoin, thirdly, when we sell or buy a token we will pay a high fee, fourth, we can not say our investment is safe because there are so many scammers or hackers, five, when your token is low you will find it difficult to sell

[usahaali04]

The reason is actually very common that its value is not stable, and in fact no one can control the price of bitcoin. Now we can only try to fix the bitcoin better by using the tool as a pay tool and we have to keep the good name of bitcoin.

[munareal]

Bitcoin is a disruptive technology that the main society does no want to accept. This is always the attitude towards something new. They need to be informed and educated first. Secondly the fact that the transactions are irreversible, it has high transaction fees and then its payment settlement is too long

[anjaydut]

the biggest weakness of bitcoin is we can not use it without internet, if security problem and others I think it is very good and no need to worry

[surgical_duude]

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

In my opinion, the most difficult of Bitcoin is the lack of long-term investors, the supply of Bitcoin mainly investors and businesses, without the large Bitcoin investors will grow slowly. Bitcoin is still banned in many places

[mycoinlife]

Not everyone trades In in Bitcoins. Secondly it's prices keep on fluctuatining. Thirdly the waiting time on transactions, also turns down people. Plus the concept of Bitcoin as a payment is difficult to understand for everyone.

yup you are right

[domari]

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 weakness of bitcoin now is too much of the cost required for delivery. And the tightness of bitcoin transactions these days makes this takes a long time of confirmation.

[Geljames28]

For me, the biggest disadvantages of bitcoin is that it cannot be used in physical store and the bitcoins are not widely accepted.

[cryptopolus]

On the technological side I think its scalibility. The limitations are there, and there is no solution on the horizon yet. There are some alts that do much better in key areas (like speed, blocksize, fees, energy comnsumption). On long term for me its still "just a currency", but no real implementations.

[Victorycoin]

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 weakness of bitcoin now is too much of the cost required for delivery. And the tightness of bitcoin transactions these days makes this takes a long time of confirmation.

We know Ether as the second most capitalized cryptocurrency and all along it's transaction fee and confirmation time have been impressive, but presently as its demand and adoption have soured, we have started to see that high cost of transactions and delays isn't something unique to Bitcoin. It happened to become quite pronounced with Bitcoin only because it's the flagship cryptocurrency but apparently that's the lot that awaits all cryptocurrencies especially as they became more popular. At any rate, efforts are being channelled to arrest the ugly situation and it's hoped that Lightening Network would be able to do a good job at that.

For. now what I can say is the disadvantage of Bitcoin is that it takes an institution or having a deep pocket to be able to mine it  and  that could lead to centralization.

[coin_maker]

The main disadvantage is the problem of understanding its mode of exchange and also also the fluctuation of its price..

[honeybites]

I did not find much disadvantage but i know some of the disadvantages of bitcoins they are the transactions once done cannot be canceled , BTC gets stolen if we store them in online wallets , we will loose are bitcoins if we miss the private key of our wallet these are some of the disadvantage i found on btc.

[jason.romano]

One of the biggest disadvantages is that there is a waiting time for transactions. It is something that can really be frustrating and even cost investment.

[BobbyZounours]

the volatility is a problem.

The increasing transaction queue size is a problem.

The world does not understand the algorithm is a problem.

The thousands of other alt coins is a problem.

[Argoo]

The biggest drawbacks of bitcoin are obvious, this is the low bandwidth of bitcoin in conducting transactions, so now they are hundreds of thousands hanging for a few days, as well as a large amount of commission fees for conducting transactions. The average cost of commission fees for transactions bitcoin now goes up to $ 40. It's no good.

[ledachutkova]

I think that the biggest disadvantage of Bitcoin that all of the old-fashioned people so used to use "candy wreppers" - fiat money, they can't understand another system. Government will not be satisfied because it'll be hard to take charge, and to control people and it is disadvantage to mainstream too. But of course it is "disadvantage" only to popularize bitcoin, so for people who understand it is of course very big advantage and the main idea of it!

[CerealKing]

I think that the biggest disadvantage of Bitcoin that all of the old-fashioned people so used to use "candy wreppers" - fiat money, they can't understand another system. Government will not be satisfied because it'll be hard to take charge, and to control people and it is disadvantage to mainstream too. But of course it is "disadvantage" only to popularize bitcoin, so for people who understand it is of course very big advantage and the main idea of it!

I literally have no idea what you just said.

[steevo384]

I think one of the demerits is that not everyone trade in bitcoin and some are wish to invest on it but due to their lack of understanding they wil be afraid to invest and moreover, the fluctuating price.

[coinbitrade]

In my opinion, the biggest disadvantage is the transaction fee. Big delays are also not very good. It is not quite practical to pay for purchases and services with bitcoins

[Feuerbach]

One of the biggest disadvantages is that there is a waiting time for transactions. It is something that can really be frustrating and even cost investment.

And plus this - the commission for the transaction. All the same, some altcoins are better suited for paying something than bitcoin