What do you think are the biggest disadvantages of Bitcoin?

[lisasteca]

The main disadvantage of bitcoin is the lack of legal protection. At the moment in many countries it is not even considered a real currency.

[Coinnosaurus]

I think the biggest disadvantages of Bitcoin are illegal activities. The anonymous nature of btc can't go without misuse. Bitcoin could be used for money laundering, weapons and drug buying/selling

[Akbcryptomoon7668]

For me the biggest disavantage to a global distribution is that one can not buy bitcoins easily. Solve that and you will have many many newcomers.

[george888055]

I think the biggest disadvantages of Bitcoin is volatility. Because of many different factors, the price of btc changes daily. The factors affecting price volatility are numerous and often it is not possible to predict what will happen next.

[lucy94]

Blockchain is open, and everyone sees everything. Thus, blockchain has no real anonymity. The electricity used is in huge amounts and expensive. Don’t forget the expensive custom mining equipment, which is almost useless for any purpose other than mining bitcoins. These are just few...

[jeanpadel14]

Bitcoins are still only accepted by a very small group of online merchants. This makes it unfeasible to completely rely on Bitcoins as a currency. There is also a possibility that governments might force merchants to not use Bitcoins to ensure that users’ transactions can be tracked.And No Physical Form
Since Bitcoins do not have a physical form, it cannot be used in physical stores. It would always have to be converted to other currencies. Cards with Bitcoin wallet information stored in them have been proposed, but there is no consensus on a particular system. Since there would be multiple competing systems, merchants would find it unfeasible to support all Bitcoin cards, and therefore users would be forced to convert Bitcoins anyway, unless a universal system is proposed and implemented.

[AH_Robin]

I think  the greatest drawback of bitcoin now is we can not spend it locally yet but rather I am trusting that this will be accessible soon. At that point likewise drawback is there is no physical coin that more individuals dislikes it

[hsjrjkf]

First, the price of Bitcoin floats too much and is not suitable for currency trading. Second, the national conditions of many countries are not suitable for the promotion of Bitcoin, which is why many countries have banned bitcoin transactions.

[Rileygss]

I think, 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.

[BrentMack]

For me I haven't really seen a disadvantage with bitcoin. There is the fact that you can't get your bitcoins back once you lose them, but that feature was actually put in to help protect your coins more than anything else.

[WaffleMaster]

A big disadvantage is that it is not tied to any commodity. It's value is only realized by its utility, which is the cause for volatility. The amount of energy it takes to produce does not mean it has that much money's worth of value. But it is very useful and the more use it sees then the higher the market cap will need to be to facilitate all the transactions due to it's 21 million coin limit.

[tbterryboy]

A big disadvantage is that it is not tied to any commodity. It's value is only realized by its utility, which is the cause for volatility. The amount of energy it takes to produce does not mean it has that much money's worth of value. But it is very useful and the more use it sees then the higher the market cap will need to be to facilitate all the transactions due to it's 21 million coin limit.

Besides all these disadvantages, there is always a risk of unknown technical flaws. . According to the Stanford journal, since Bitcoin is fairly new technology, if they were accepted by every one, and a flaw was found, it could give huge amount of wealth to the exploiter at the cost of demolishing the BTC economy. Also there is no valuation guarantee because there is no central authority governing BTC. The decentralized aspect of BTC is both imprecation and blessing.

[bct-72]

Greed.

[LigwagGanern]

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

To be honest, I don't see anything that is disadvantage of bitcoin. When the price of bitcoin is decreasing it is not a bad thing, it is a good thing for those people who don't have bitcoin it is an opportunity for them to buy bitcoin because their money is not enough to bitcoin while the price of it is bigger. And bitcoin have a many advatages specially the tax of it, because it don't have a tax.

[ogini]

Bitcoin is not freely accepted as other local currency ,the government are trying all means to bring it to an end ,banks are regularly discouraging new investors and the social media are here now to blackmail the market it is very difficult .

[bitkaboom2]

Biggest disadvantages of Bitcoin according to me are given below:
1)Unstable price value
2)Security
3)spams ICO's
4)Unacceptable by banks and governments.
5)Risky

[1jaffa1]

The biggest disadvantages from bitcoin in my opinion is still vulnerable hack and bitcoin is always used for the negative activities. That is seems to me that the weakness of bitcoin makes someone difficult to believe with bitcoin.
That is one of the things that could prevent bitcoin to be accepted as payment. In addition, many scam it will affect my opinion. If bitcoin can be overcome, I believe bitcoin will be accepted as payment.
When you deql with bitcoin you just have to know that there are risks anyway.

[kim_min888]

I think the only disadvantage of bitcoin right now is the transaction size.. and the speed of the transaction it is not actually instantly it takes minutes before you receive or if you are pay a small amount it takes few hours or days.. The other thing for me is fine only the transaction is my problem because sometimes im halving problem pending transactions..

[linh_thuy]

I think. The biggest problem with bitcoin in my opinion is that every single transaction is available to anyone to see if they want to, that makes bitcoin very vulnerable to algorithms trying to link bitcoins with an identity.

[joker19]

I guess the disadvantages of Bitcoin that need to be improve was the confirmation in the blockchain, most people in bitcoin world facing this circumstances most often in every time of doing transactions. I hope this thing will be resolve someday.