What are some disadvantages of BTC?

[Flomo]

bitcoin is a profitable investment, the disadvantage is that prices can go down and rise at any time, meaning there is no price stability. other than that bitcoin can be hacked and has no legal body so that it can be used by people in crime.

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[BrewMaster]

Bitcoin is still under development. For me, it's a great form of long term investment. However, I would like to participate somehow in its development. Transactions take far longer to confirm than for example for Visa. Transactions fees are pretty cheap right now. 1 month ago I paid about $10 for one transaction! 3 days ago I paid about 30 cents, that's what I was expecting.

if you paid $10 for a transaction then that means your transaction size was HUGE. because $10 was nearly 0.0022BTC. so your transaction should have been nearly 1 kilo Byte that it needed such a huge amount of fee.
regular transactions which regular size always required less than 1/3 of that amount you paid.

[tiggytomb]

A couple that come to mind, the fact it isn't accepted everywhere is a major pain and also the nagativity that is always associated with bitcoin whenever you hear about it in the mainstream although this is starting to change.

[Fazlurkhan.kz]

As we all know, bitcoin is not recognised in all parts of the world. It's just useless in some places, and if you live in one of those places, it's a disadvantage. And also sometimes it's not safe, as the Bitcoin wallet might get hacked.

[Colt81]

We all know the advantages of BTC, but what are some of the disadvantages??

I think one of the disadvantages of bitcoin is you can't use it in offline store and transactions. Some of disadvantages of bitcoin is the price because the price is volatile so that there is a possibility that the price of bitcoin will goes up or goes up. Lastly, I think also the supply of bitcoin is one of the disadvantages of it.

[d.mas]

The main disadvantage of bitcoin is that people are unaware of these digital currencies and also bitcoin is volatile. Furthermore bitcoins are not widely accepted everywhere and also there is no stability in its price.

[Wingo]

The price is very unstable. Bitcoin being decentralized, caused its price to fluctuate at a fast rate. The great fluctuation of price can be good(the price increases) or ungood(the price decreases) for many of us. The better use of bitcoin these days is for short term investments and trading, pump and dump, using the volatility of bitcoin to earn profit in shorter time.

[dificanovi]

The weakness of bitcoin, has not been recognized by many countries, and the transaction system is still a long time in verifying incoming and outgoing coins

right, bitcoin has not become an official currency for all countries. bitcoin also has weaknesses such as old transactions and expensive costs. bitcoin also has a weakness in terms of shape, because bitcoin is just a digital currency in the form of numbers only, has no form.

[Razick]

Some disadvantages of Bitcoin:

• extremely difficult for beginners to understand
• currently expensive, making it less appealing than before
• mining is unpractical now which makes the entire network less secure
• other coins/token coming along with better technology
• highest fees of any crypto - and growing
• corrupt community, full of scammers
• mentioned above, scammers take advantage of the fact Bitcoin transactions are non-reversible
• not truly anonymous, can be traced by government

This list is in no way complete. The fact is if Bitcoin were to be remade today it would be a lot better. Hopefully we see improvements going forward, otherwise something new and better will likely take it over at some point.

[Bagaji]

We all know the advantages of BTC, but what are some of the disadvantages??

As you already know the advantages of bitcoin, so also most of its advantages could be turn to be the disadvantages. The anonymity of bitcoin is one of the disadvantage, easy to transfer funds internationally could lead to money laundry from one country to another.

[Best Dreams]

We all know the advantages of BTC, but what are some of the disadvantages??

the disaadvantage of bitcoin for me i think for now on i can't use directly as a payment in my location but really hoping the bitcoin someday will use any kind of transaction as a payment to buy all needs for the daily life i think this is not possible because the new technology are continue progress the reason is bitcoin is come the new technology as decentralized crypto world.

Yes I think bitcoin has a little bit disadvantage’s like it must be shape or logo or any physical shape the rest of I think its best of the best but as around the world people have a big support to bitcoin so all the user’s want its physical shape and I think after a huge success of bitcoin in high price now it’s a time to be in a physical shape.

[ankylotic]

is a profitable investment, the disadvantage is that prices can go down and rise at any time, meaning there is no price stability. other than that  can be hacked and has no legal body so that it can be used by people in crime.

yes it is a main disadvantage that the price is not stable but also the is a plus point of it because it will help in the term of trading and traders takes benefit from this. if its price goes stable i think it will be biggest disadvantage of it. most of the investors buy it on low price and then sell at high price and get profit through it.

[pyedpyper]

Unlike the stock exchange market the bitcoin market is highly unstable and it is not being accepted world wide
Rather many countries have banned trading bitcoins

Yep there are many countries who banned bitcoin with in country’s if all country’s accept bitcoin world wiled this good for trade but there big disadvantage of bitcoin. Bitcoin cannot accept many places and countries

[micleeiu398]

When accepting money, especially for sellers/vendors, due to its volatility can lead to short term or even long term loses in the event of a price crash.

Moreover, the more it is being used, the higher the cost of the transaction fees are, rendering Bitcoin unprofitable for smaller transactions.

Bitcoins are evergreen profiting investment which is green in whole year and it has no such disadvantages at all, it gives huge profits and will make happy to its investors so don’t think like that invest and have faith in bitcoin you’ll get the huge profit and join the caravan of those people who are enjoying their lives by getting profit.

[Kevin77]

Many investots are saying that bitcoin is a bubble, or should I say, like a bubble, that keeps getting bigger and bigger but will eventually reach its limit then will suddenly pop, then the time, effort and money that you have spent in bitcoin will turn to nothing. But as much as investors are saying these things, there are still lots of investors and great personalities that are sure and convinced that Bitcoin can't be stopped and will continue on growing.

Bitcoin will not demolish only because of some haters. If this was true that one day bitcoin will disappoint us then the owner of giant Tech company Microsoft, Bill Gates, would not have praised bitcoin and it would not have accepted bitcoin as payment also. Uber and ebay have also allowed its users to use bitcoin for offered services. Bitcoin is just getting started.

[Lancelot04]

All I can see is that it can be used to buy drugs in the dark web and also for money laundering.

[Bakemat]

We all know the advantages of BTC, but what are some of the disadvantages??

if the bitcoin has advantages, then it have disadvantages too. so, correct me if i'm wrong to my idea the disadvantages of bitcoin.let me elaborate it. first, bitcoin is being for the internet only it can't used in the store or market (only some only that accept it) . because of this bitcoin have a limitation in terms of buying things. two , is being on online you need electricity before you access or to used bitcoin. so if have mergency and you don;t have money and you don;t have electricity too, its a serious matter.

[ngefek berat]

We all know the advantages of BTC, but what are some of the disadvantages??

I think the weakness of bitcoin is a price that is still not satisfactory for many people every time to make the exchange, but my great hope may be every year the price can continue to increase and more advanced again.

[NEWBIE2017]

I think the main disadvantage of bitcoin is it's fluctuating price ....Secondly it can't be used everywhere ..also it's just online use... Transferring money abroad can also cause deflections in main currency .BTC is also not accepted in many places .

[natsu_koo]

Bitcoin is very popular these days. Though people see bitcoin is a great tool for complete anonymity. We can't say that it is because every country that accepting bitcoin are now find a way to regulate the usages an it's users. They are now implementing the AML/KYC. Now we should comply with this law in able to use bitcoin freely. Means, you are not completely anonymous since you are required to submit your identification documents to use bitcoin completely like depositing into a bank and converting it into fiat. There are also other disadvantages:

1. People must aware and completely understand what is bitcoin and how it works in able for the to use this technology.
2. Risky because of volatility. Price is very unpredictable because the price is bouncing up and down each day passing by.
3. Can be use by criminals. Hackers are now using this tool for their victims. Over 150 countries were attacked by hackers and ask for ransoms recently. They ask for bitcoin as their ransom. I think biggest crime happen in the internet.

Yes, biggest crimes happen in the internet because nowadays people are always on the internet, they are blinded by its worth and they will do any crimes just to have bitcoins.