What do you think are the biggest disadvantages of Bitcoin?

[gaurav82]

I see some disadvantages in bitcoin :

1. Biggest disadvantage which i see is "not acceptable at most of places and countries".
2. There is big fluctuation in price.
3. Invest in bitcoin has big risk.
4. Most of people are confuse for bitcoin and not understanding the procedure.

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[ewonardo]

Instability in price, Also I observed I think the biggest disadvantage of bitcoin is so slow to confirm the transactions. Mine is receving that took 2days to be confirm. We all know that many users had used bitcoin but hoping this will be resolved immediately. Also, I think the disadvantage if by collecting high fees people will find other ways to use not bitcoin because of high fees.

I agree if the high fees is disadvantage of Bitcoin now, also I can see with Bitcoin is its long confirmation to the users that makes everyone irritated, which we do not want, waiting for more than 24 hrs, But the progress of Bitcoin is really good, for sure, I guess once these problem solved by the developer.

[LinAliza]

The only dosadvantage I can see in this cryptocurrency is, since this is anonymous you will never know who does the illegal stuffs and if they do the person behind it will never be caught. not unless that person had used his address in his personal transactions. Though the transactions will be traced up but it requires special skills to identify whose the curpret.

[rudyjaya]

Unstable prices, we are very difficult to control the movement of bitcoin prices and has not been recognized as a legitimate payment because the type of currency and its value is very different from the value of the currency in some countries.

[milandres0207]

I think the biggest disadvantage that i can see in bitcoin is being not accepted in some country, if you want to send money in your family living in the said country they can't use or accept. Hope that bitcoin will be the global currency so that people around the world will use the same currency.

[Ljanesanti]

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.

Price fluctuations are essential in trading bitcoin in a short term basis and this is what keeps bitcoin moving. Due to a lot of people in crypto have been trading altcoin to bitcoin and then, bitcoin to fiat we should expect a long time waiting transaction.

Nevertheless, it is hard to understand if you are just starting but rest assured that once you understand how bitcoin works it will be worth it.

[cuanterus]

There are some things that are lacking in bitcoin that I see is "unacceptable in most places and countries". there are large price fluctuations, investing in bitcoin has a big risk, most people confuse with bitcoin and do not understand the procedure, the cost of shipping from high bitcoin in transactions that I think is very uneconomic.In addition the biggest problem with bitcoin is using Proof of Work. This makes it slow and also makes it so miners are needed to verify transactions that use tons of electricity. in my mind the newer crypto version will use a much more efficient Proof of Stake. Take a look at Cardano. This will be the first true cryptography using stock evidence beginning in 2018. Bitcoin is decentralized. So it is not supported by central government or central bank. Bitcoin is so unstable that it does not guarantee profit because its value can rise or fall at any time. Investing in Bitcoin is also very risky because our money can be lost in the case of price reduction which is based on blockchain technology.

[jayabaya78]

Some of the adverse values ​​in bitcoin that I see are unacceptable in most places and countries. There is a big price fluctuation, investing in bitcoin has a big risk, most people are confused with bitcoin and do not understand the procedure, the cost of shipping from bitcoin is high in transactions which I think is very uneconomical. Also the biggest problem with bitcoin is using Proof of Work. This makes it slow and also makes it a necessary miner to verify transactions that use tons of electricity. In my thinking there is a newer version of crypto will use a much more efficient Proof of Stake. See Cardano. This will be the first true cryptography that uses stock evidence beginning in 2018. Bitcoin is decentralized. So it is not supported by the central government or central bank. Bitcoin is so unstable that it does not guarantee profit because its value can go up or down at any time. Investing in Bitcoin is also very risky because our money could be lost in terms of price reductions based on blockchain technology.

[Invester]

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

Do we have any update on this plan? Was this realized? Or it simply did not materialize? It seems that until now Bitcoin's blockchain is still the most efficient and widely used. As far as drawbacks are concerned though, we have already heard and read over and over again the complaints against fees and slow confirmation time. Aside from that, we also have to face the fact that Bitcoin-accepting shops are not as ubiquitous as we would like them to be.

[donnieyen]

What prevents Bitcoin from being accepted as a primary form of payment is the bad judgment on bitcoin I see that is not yet acceptable in many places and countries. There is a large price fluctuation, investing in bitcoin has a big risk, most people are confused with bitcoin and do not understand the procedure, the cost of shipping from bitcoin high in transactions that I think is very detrimental to blockchain users. Bitcoin is decentralized, so it is not supported by the central government or central bank. Bitcoin is also so unstable that it can not guarantee profits because its value can rise or fall at any time, in addition to investing in Bitcoin is also very risky because our money can be lost in terms of price reductions.

[yucien78]

To be accepted as a primary form of payment bitcoin should remove the bad rating on bitcoin that I see that is not yet acceptable in many places and countries. There is a large price fluctuation, investing in bitcoin has a big risk, most people are confused with bitcoin and do not understand the procedure. Bitcoin is decentralized, so it is not supported by the central government or central bank. Bitcoin is also so unstable that it can not guarantee profits because its value can rise or fall at any time, in addition to investing in Bitcoin is also very risky because our money can be lost in terms of price reductions.

[Tiktik]

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 biggest disadvantages of bitcoin is the internet connection. Once you don't have a data connection in the internet we cannot earn bitcoin, and if ever you have an internet which you can monitor what is going in the update about it, the fluctuation is the next problem into or transaction in bitcoin in any exchange sites.

[Nyenyepogi]

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

For me one of its greatest weaknesses is that you can lose your bitcoins by sending it to a wrong address. Any address should have a number to identify it, just as phone number, that people could remember. That would be a true revolution.

[Lang09]

Besides the internet issue about speed, there is just one big disadvantage at bitcoin that is not be mainstream, this affects bitcoin, it damage it, since people consider it a dark currency. If we reach mainstream we will be able to spend our bitcoins anywhere, anytime, something we cant do, atleast not directly. The confirmation time its another small issue that should have some improvement over the next years to make bitcoin more atractive as payment option.

[Dmitry.Vastov]

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

As each coin has two sides, BTC having numerous of advantages still possess some negative points that still discourages people from using BTC. There is no such regulating or governing body over it and this made some social evils to misuse it and they use it for terrorism and other illegal activities but once BTC has been centralized, this issue has been sorted and everyone can use it without any fear.

[Larrycool]

Instability in price, Also I observed I think the biggest disadvantage of bitcoin is so slow to confirm the transactions. Mine is receving that took 2days to be confirm. We all know that many users had used bitcoin but hoping this will be resolved immediately. Also, I think the disadvantage if by collecting high fees people will find other ways to use not bitcoin because of high fees.

[melekseverce]

I think the being decentralized is the biggest disadvantage of Bitcoin.  Being decentralized slow things down when it comes to decision and modification especially implementing fix and upgrades.  It needs consensus and as we see, it takes years before one good upgrade to be implemented.

[Crystacool]

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 biggest disadvantage is the bitcoin of its speed is very slow, we need to spend a lot of time waiting for it to the bill, it deals need to the Internet, this limits the bitcoin next to become the realization of a kind of legal tender

[otandelapaz]

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

Bitcoin's anonymity is one of its best feature and also I think it is the one that give Bitcoin some drawbacks. Because of this feature, Bitcoin is being used in illegal activities such us illegal drug trade, illegal gambling, money laundering and many more.

[jerowacik]

This currency network isn’t famous to folks. Hence, they have to understand regarding this digital currency. At present, only a number of businesses will use this digital currency.