What do you think are the biggest disadvantages of Bitcoin?

[jean messi]

I will try to count all that come to my mind.

1-) The transaction speed is very slow.
2-) Blockchain network is very busy.
3-) Transaction fees are very high. This is horrible!

Most worrying things I guess.

[jelly199]

In my opinion, the advantages Bitcoin can be drawbacks. As well as transactions that are not detected, it might be a tremendous advantage of Bitcoin, and is not owned by any other payment, but it may be a precursor of illegal transactions, and the government also questioned it.

[beckham88]

Just look at the very high fees. That is already unreasonable. And sometimes more than 24-hour confirmation, that is another big disadvantage of using bitcoin. And sometimes it really is hard to buy the things you want when the shop, online or actual physical one, do not accept bitcoin as a form of payment

[Dan_Mark]

I think because bitcoin now is getting bigger and I'm sure those miners who left Bitcoin will comeback and mine Bitcoin again, the temporary slow transaction is just a sign for Bitcoin that it is growing because the transactions are getting bigger and bigger because of the people who are starting to adopt Bitcoin but it will be fix soon.

[Coinnosaurus]

Bitcoin is volatile. I think it's the biggest disadvantage of Bitcoin. Its price bounces up and down every day namely because of the limited amount of Bitcoins and an increasing demand for them

[Ahimoth]

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.

Being internet related one of its disadvantage is the security part because there are lots of hackers in here. Other than that is the lack of acceptance because bitcoin is not being used worldwide. Another thing is bitcoin is a wealth on the internet which has to be converted in order for you to have a cash or money.

[filiparoxo]

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.

[Cryptpopo]

In my own view,the biggest disadvantage of bitcoin is that not all the part of the world accept it as a medium of transaction

[Codename23]

For me, the disadvantages of bitcoin is that it is volatile, and risky. Also the price's cannot be predicted. Sometimes it get lower sometimes higher. Because of that you become unsure on when will you sell your tokens. Also sometimes if you did a little mistake you have the chance to be bannes. It is too risky.

[Bodik1710]

First disadvantage that nobody can control it.Second disadvantage,it has received a lot of negativity, bad press and illegal happenings.

[geegaw]

Bitcoin is volatile. I think it's the biggest disadvantage of Bitcoin. Its price bounces up and down every day namely because of the limited amount of Bitcoins and an increasing demand for them

But that is also the most special thing in bitcoin, if bitcoin is not volatile, it will no longer be bitcoin and it will not be popular or achieve a high value as it is now, we can make money and be profitable or not will depend very much on this feature. Personally, I would never think volatile is a disadvantage of bitcoin, this is essential, the biggest disadvantage that I think of is the permanent loss, there is no guarantee in bitcoin, if we lose or be cheated by others, we can not report to the government or the police, the next is sending and withdrawing in bitcoin often very slowly affecting the profitability of the investor, that's a nasty disadvantage

[Tasya04]

Many people are still unaware of the existence of Bitcoin. Every day, more and more businesses are receiving bitcoin because they want to profit from using bitcoin

[Aviney]

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

Precisely stopping Bitcoins from being accepted as mainstream repayment forms? I'm working on a brand new blockchain and would like to learn what drawbacks of Bitcoin urgently need to be increased

[kasianov77]

in my imagination, the situation of a traveler from the future who predicted the power of bitcoin and that in its large-scale use, the world plunged into poverty, because they will own units.

[george888055]

Bitcoin is untraceable. Anonymity may draw in criminals in the sense that it is ways easier to sell illegal items when you can’t be traced.

[jerowacik]

Only a limited number of places and websites accept it as payment. You can't go, for example, to the shopping mall and buy the same goods with Bitcoins as you would with credit card.

[wilsonwilly1]

As many have pointed out the transaction confirmation takes too much times sometimes. Thats not the big issue but in the current state of being, but bitcoin can't afford to have a radically more adoption rate as it would create huge chokepoints in which confirmation time would take forever.

Happily widespread adoption is not yet in the near future so maybe the issue will be settled by then.

[maximkretov]

The ruling elite of some countries is characterized by loyalty to digital currencies. For example, the USA, Israel, Australia, Britain, Belgium and others are actively working on the creation of legal mechanisms for the integration of altcoins into the economy. Although, this is not a guarantee of leveling the shortcomings and mass acceptance of Bitcoin advantages. On the territory of each state, the first cryptocurrency has an individual status. Based on the priorities of the official, Bitcoin is usually equated: to foreign settlement funds, electronic or virtual currency, and in Indonesia it is considered the equivalent of the goods.

[wasaisi]

It is apparently the confirmation times. No one wants to wait for the pending status or the transaction to be approved by miners for an hour. We are facing with the most important and innocent issue in Bitcoin.

[Antivoid]

I think the most problem is that it will be harder and harder for the community reach an agreement, any proposal will be laid aside and argued for a long time, the profit of bitcoin is so big that no one will vote others who moved their cheese