What are some disadvantages of BTC?

[Victorycoin]

For me the some disadvantages of BTC is, it easy to use by other people to scam, so when btc use to scam many people will afraid to try bitcoin and many people will not follow bitcoin

Do you know of any currency in the whole world that is not or never been used to scam others? In principle, every good invention is susceptible to be abused by never-do-wells, just name it!

... the other disadvantages of bitcoin is the campaign, the campaign in btc was take too long, its about 1month and 3weeks before its end so people who are newbie here is giving up easily.

Everything in life is a process and there is always a starting point - we all started as newbies too. If you can take your eyes off the distance, off the time, off the challenges and instead keep an eye on the goal, then would it happen  to you instead in a fraction of the time. Patience is such a virtue you can't forget to bring in on any of life's endeavor or simply watch life pass-by, without color or shine!

Bitcoin and cryptocurrency are here to stay, let your worries be to properly equip and develop yourself to the capacity of having them working for you, the rest of life.

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[ruthbabe]

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

I see only one disadvantage of Bitcoin, the price or its value is unstable. That's the reason why some don't agree it's money or a currency although they knew it's being used as a digital payment system.

[PORN_coin]

The biggest drawback of bitcoin is the slow transactions at this moment

[Brigalabdis]

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

Bitcoin are illegable for hacking and also you cannot predict what happen next.

[Gintama214]

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

The advantages of having a BTC, is that its not hard to earn BTC and you can also invest on it, also you can mostly buy things and that you want in BTC but not all companies still accept bitcoin. There are some rumors but hopefully they will in the future. The disadvantes of bitcoin is that it is actually digital currency, you don't have a physical equivalent of it unlike real money or "cash" and we are not sure if our wallets are really safe to store our BTC. There are still many flaws in BTC but for sure in the future BTC will be the next and the future of currency.

[Black Angel]

I do not think bitcoin has been used officially for direct payments, I hate this but it seems like it takes a lot longer to see many outlets, hotels or restaurants accept bitcoin.

[dmamigo]

Time taken for transactions was pretty high, but recently they are confirmed fast enough. Other than it I don't feel any disadvantages which should be quoted. As of now the fees seems to be higher, but when making cross border payment, I find it less expensive than usual methods. But domestic transaction fees sometimes bothers me.

[BlockMedx]

The amount of electricity and power the network requires for mining is unsustainable and bad for the environment.  This is a flaw with all POW systems in general.

[Gens09]

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

well for me the disadvantage of this to the users is sometimes they forget to do their priorities because they are more focused on the BTC. everyone has their duties and responsibility. in the real world the disadvantage of BTC some people don't believe in online money so they don't believe in btc that it can use to pay for your bills.

[Mumbeeptind1963]

It really depends on how you look at it. A disadvantage can also be an advantage.

For example. Bitcoin is unstable in its price to the dollar.

It does however always seem to bounce back and go higher - therefore being a huge advantage.

Theres a lot of disadvantages of bitcoin like  its value does not remain constant which creates instability in the market. And also can use in some illegal activicties like buying ang selling drugs, weapons and even cause of thefts, murders, frauds and other social evils. Bitcoin is a good servant and a bad master.

[coinfinger]

It really depends on how you look at it. A disadvantage can also be an advantage.

For example. Bitcoin is unstable in its price to the dollar.

It does however always seem to bounce back and go higher - therefore being a huge advantage.

I think there are two disadvantages of bitcoin first one is that bitcoin is working only if you have internet and secondly bitcoin have no physical shape because people love bitcoin and day by day its users are going to increases so everyone want to see bitcoin and I hope in future bitcoin will arrange its physical shape as considering people demand.

[rumexx]

The exchange fees are high in most of the exchanges, also it is possible to use BTC fund some nefarious activities  because of its decentralized nature.

[HAARP]

It really depends on how you look at it. A disadvantage can also be an advantage.

For example. Bitcoin is unstable in its price to the dollar.

It does however always seem to bounce back and go higher - therefore being a huge advantage.

I think there are two disadvantages of bitcoin first one is that bitcoin is working only if you have internet and secondly bitcoin have no physical shape because people love bitcoin and day by day its users are going to increases so everyone want to see bitcoin and I hope in future bitcoin will arrange its physical shape as considering people demand.

Working with only internet is very normal, because this is valid for most of the businesses. This is not a disadvantage, it's a feature of bitcoin. The problem for me is that sending bitcoin to another person sometimes takes 6-7 hours. This is just crazy. It needs to be much faster in the future.

[pinkliar]

It really depends on how you look at it. A disadvantage can also be an advantage.

For example. Bitcoin is unstable in its price to the dollar.

It does however always seem to bounce back and go higher - therefore being a huge advantage.

the price of bitcoin that are not stable that was the big disadvantages of it thats right i may agree on it because we all know that this currency are may not have stable price because this is up and down so that was the disadvantages that bitcoin face and for some other disadvantages of it this is can make some way for it to be advantage.

[mikki14]

Maybe one of the disadvantages is that the transactions are irreversible. Once you made a mistake, say goodbye to your coins. No one can help you recover it. Once it's lost, it will be lost forever. So we have to be careful, always.

[Shenzou]

It really depends on how you look at it. A disadvantage can also be an advantage.

For example. Bitcoin is unstable in its price to the dollar.

It does however always seem to bounce back and go higher - therefore being a huge advantage.

I think there are two disadvantages of bitcoin first one is that bitcoin is working only if you have internet and secondly bitcoin have no physical shape because people love bitcoin and day by day its users are going to increases so everyone want to see bitcoin and I hope in future bitcoin will arrange its physical shape as considering people demand.

Working with only internet is very normal, because this is valid for most of the businesses. This is not a disadvantage, it's a feature of bitcoin. The problem for me is that sending bitcoin to another person sometimes takes 6-7 hours. This is just crazy. It needs to be much faster in the future.

It is true that bitcoin only works online and if there is no internet there is no bitcoin, but lets face it, every thing we do in our current lives is connceted to the internet, we shop we work and we communicate with others, even food we get online, and banks also do all their work through internet, so if the internet goes down the whole world will stop, so i don't think that will be seeing that anytime soon.
In my opinion probably the biggest disadvantege of bitcoin is you can't reverse your transactions so the smallest mistake on the address and your coins are lost for ever, and also bitcoin is a cryptocurrency which means it is unstable and it is not controlled wich makes invastors and bussines owners not that confidant when it comes to investing their money in it or accepting it as a pyament method, but we haven't seen a drmatic fall of the price in a long time so i think it is on the right track.

[Bakugan]

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

There are many advantages of bitcoin, like it is very easy to transact using bitcoin, sending money overseas without filling up many papers and you are guaranteed that if you invest on it you can get a big profit but still there are also disadvantages of bitcoin. For example its security, if you are not aware of many virus in internet you can be a victim of scam unlike if you invest on bank there is still a chance to get you money back but in bitcoin there are no guarantee that you can still get it back.

[alexzorgo]

Here are some that I can think of on the top of my head:

• It's volatility in price(currently). Hence holding your funds entirely on bitcoin is a huge risk despite the advantages.
• Very unsafe for careless and technologically-illiterate people. Logging in to a phishing link? Say goodbye to your exchange's funds. Forgot to list down your wallet's seed? Say goodbye to you wallet's funds.
• Unable to operate offline or non-electronically. This is a downside on more on the 3rd world countries, whereas most poor people can't even afford smartphones or any device that can hold bitcoin.
• Not-so-good transaction fees and time. Transaction fees and times are definitely alot better now compared to months ago, but I still remember the days when txs were almost instant, with very very low fees.
• My personal opinion: The name "bitcoin". I personally think it sounds like something a person involved in pyramid schemes and Ponzi scams would use.

Feeble capitalization of the market of bitcoin is the reason of the majority of shortcomings. When the market grows to the one tenth part of the market of traditional assets (an assets, shares etc.), many problems will disappear. Because it is a problem of absence of the accompanying market infrastructure. There is no sufficient capitalization - there is no potential motivation to develop this infrastructure. Those who will develop infrastructure, shall have an opportunity to earn on service of the market and its participants

[maulana rifai]

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

I have no constraints about bitcoin, i like bitcoin service, Perhaps that is blocking my mind. coin exchange rate to btc high.

[saeron-ssi]

Since bitcoin is in the internet, it is highly possible to be hacked. Another thing is that, it can be use to manipulate illegal transactions since it hides your identity.