What do you think are the biggest disadvantages of Bitcoin?

[Elviragreg]

I think the biggest disadvantages of bitcoin is that it is always been scammed because mostly it is traded online and also bitcoin is not yet so popular in this world that even you have many bitcoins you can only buy to a market which recognizes bitcoin and which is seldom.

[Friskaadew]

Now Bitcoin is facing a possible fork between Bitcoin Unlimited and Bitcoin Core. The uncertainty about future is also one of the disadvantages

[1NV3ST0NM3]

The biggest disadvantage of Bitcoin, according to me is that it has no valuation guarantee. If large number of users decides to sell Bitcoins and leave the system its price will decrease insanely causing huge amount of losses to the users who have invested large amount of money in Bitcoins. Bitcoins are also not recognized as legal in many countries, so if you are cheated you cannot seek any legal help. Besides these, highly volatility, loss of wallet and technical flaws are some other disadvantages of Bitcoin. and yes not to forget the fees and transaction time however I have not mentioned them as major because we have improved a lot on them with introduction of LN maybe we improve more.

[Sir mikolo]

I consider the Bitcoin technology itself revolutionary. Unfortunately, Bitcoin has been used for criminal activities far too often, and as an information security specialist, I strongly dislike that practice. Yet, technologically speaking, Bitcoin is an obvious breakthrough.

[Mike1992]

The Bitcoin protocol components and built-in ideas aren’t new; generally, they were all known before 2009, but only the authors of Bitcoin managed to piece them together to make it work back in 2009. Since then, for almost nine years, only one critical vulnerability has been found in its implementation, when one malefactor snagged 92 billion bitcoins. Fixing that required rolling back the entire financial record by 24 hours. Nevertheless, just one vulnerability in nine years is praiseworthy. Hats off to the creators.

[Fancyax]

Bitcoin biggest disadvantages in my opinion that it can't work offline, transaction time is sometimes too long, ..

[Mikolo11132]

The authors of Bitcoin faced the challenge of making it all work with no central system and no one trusting anyone else. The creators rose to the challenge and made electronic money an operational currency. Nevertheless, some of their decisions were devastating in their ineffectiveness.
I am not here to discredit blockchain, a useful technology that has shown many remarkable uses. Despite its disadvantages, it has unique advantages as well. However, in the pursuit of the sensational and revolutionary, many people concentrate on the upsides of the technology, often forgetting to take a sober view of things, thus disregarding all of its downsides. It is for this reason, for the sake of diversity, that I deem it useful to focus on the disadvantages of the technology.

[collins3]

There are some issues with Bitcoin: Many people do not know Bitcoin. Many countries also question or prohibit the use of Bitcoin. Bitcoin only works when the Internet but some areas of the territory are not or the Internet is not stable. Without legal management, Bitcoin fluctuates abruptly. ..

[Kusnechik]

I think that Bitcomune's biggest shortcomings are slow transactions that need to be accelerated until it is overtaken by competitors.

[sumit2103]

First most of the people are not aware about what digital currency is and it's benefits to the society. Secondly due to blockchain technology the transaction ledger is visible to everyone which sometimes given unauthorized users to access your records. Third no government and other bodies are able to control it.The biggest problem is with the price fluctuation which have taken the sleep of it's investors. I read some posts related to suicide done after the big losses.

[NovitaWS]

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

[454875kio]

The biggest drawback of Bitcoin is that it is used by some lawbreakers. The causes of lawlessness have led to the decline of Bitcoin and the emergence of government regulation of Bitcoin.

[rizbounters]

probably because the bitcoins can not be held or like real money so many people are hesitant to trade with bitcoin

[Umar001]

The biggest disadvantages  of bitcoin are (1) acceptability of the bitcoin, not everyone knows what bitcoin is all about, so many countries failed to accept the coin.  (2) popularity, popularity of bitcoin is low for now, it's only certain percent of people who have access to Internet connection  📶 deal on bitcoin for now, is not order popular compared to goals etc. (3) scamming, many unscrupulous elements scam people's though bitcoin.

[CrystalPham]

It is unclear whether the fluctuation of bitcoin is short-lived or long-lasting, but it has also been shown to be unstable with this type of virtual currency, as they only fluctuate completely based on market demand. There is no guarantee from central banks or international institutions. And the worst scenario is bursting the bubble. Despite the hot growth, bitcoin has gone through two series of block crossovers this year, and there is no guarantee that investors will still mind. Trust this virtual currency after future segregation.following a series of large-scale cyberattacks and hackings, especially the cyber-crash, and stealing has not gone away. That is the disadvantage of Bitcoin.

[Jay Jay crypto]

Bitcoin enables fraud and other criminal activities.  This is absolutely the single most salient feature of Bitcoin’s anonymity.  Conventional currencies are indeed subject to laundering and counterfeit.  There is probably no way to eliminate those risks completely.  Bitcoin magnifies those risks because it can only be exchanged anonymously.  It dominates dark networks that have been known to traffic in narcotics.  Law enforcement efforts to shut those networks down will terminate the ability of any financial actor to transact in Bitcoins even for legitimate reasons.  When the network is down, your Bitcoins are gone.  Conventional currency doesn’t work that way in real transactions.  Banks and brokerages have offsite business continuity backups.  Securities exchanges and central banks maintain counterparty records.  These mechanisms lack Bitcoin’s anonymity but make up for that in resiliency and trustworthiness.

[cyriljundos]

for me the biggest disadvantage of bitcoin is the transfer to different sites. It's fast on the blockchain technology

[tats14]

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

well for my own opinion, the biggest disadvantage of bitcoin is the price, because randomly the price is in a high and can be low, cannot understand what bitcoin standard price.

[reisuke24]

anonymous. i mean, when some criminal make bad thing with this one they cant track unless they have the privacy information about who they are.

[syusk82]

I think Bitcoin has no shortcomings.
Bitcoin is perfect for me. But in my country, only 1% of people know Bitcoin. Compared to what I think Bitcoin creators do for bitcoin propaganda, such as TV commercials, people soon know this.