What are some disadvantages of BTC?

[Aprodite]

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

There is nothing wrong with BTC, wrong it is the user of BTC itself. Those who use BTC as a medium of illegal goods transactions; such as narcotics and fires. This happens because the identity of the transactor can not be found.

[1714652394]

1714652394

[amila_cs]

When Satoshi created Bitcoin his white paper title was "A Peer-to-Peer Electronic Cash System" So it was intended to be a currency replacing fiats (USD,EUR..). But the main problem of Bitcoin becoming a currency is it's transactions are extremely slow and fees are ridiculously high. The constant forks are happening to solve this problems.

Also currently it would cost a large amount of electricity to mine 1 bitcoin. In energy wise and environmental wise that is also a problem bitcoin seems to have

[crypto4lambo]

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

Actually there are some disadvantages of Bitcoin and may be a big drawback for its future usage and adaptability. It may be used as a currency if and only if devs can come up with a solution to this. First of it is its transaction fees. It has ridiculously high fees even with a very small amount to pay. Sometimes the fees is rather higher than the amount to be paid. It is discouraging to use it specially in small transactions. It has slower transaction rate also compared to fiat currency which is almost instant. Government are also concerned about being anonymous with the transaction. It can be used in illegal transactions and money laundering. Of course it depends on what perspective are you looking at. On us, it is an advantage being anonymous but for the government it is a major problem to deal with.

[Harley29]

It seems like Bitcoin is getting its head out of the clouds. According to coinmarketcap, its price lost of about 29% during the week and equals now of about $13.700. Capitalization exponential growth turns out to be not quite coherent with the Bitcoin degree of integration into the real life. Undoubtedly, this fact is considered to be one of distinguishing peculiarities of so-called ‘bubble’. According to the majority of analytical forecasts, Bitcoin is to fall three times in 2018-2019, what thus will approximate its capitalization value to a more reasonable one.

Possible reasons of Bitcoin’s decline can be accumulated risks, connected with Bitcoin data storage difficulties in some systems as well as with increase in time and cost of its transactions. Investing in Bitcoin can rightly be called ‘extreme’, and cryptocurrency exchange infrastructure at first sight is struggling with recently established overload. From the other hand, such high volatility is generally very representative for cryptocurrency market, where the significant role is given to political game of main holders.

In addition to the ongoing informational attack towards Bitcoin in terms of Ministry of Finance of Japan and Monetary Authority of Singapore statements concerning its unreliability, there were other events contributing to the fall. Emil Oldenburg, co-founder of Bitcoin.com, declared that Bitcoin has no perspective as a trading currency and sold his holdings. Getting rid of Bitcoin, agents usually invest in its direct rivals, such as BCH.
Simultaneously with Bitcoin decline, one can see rapid growth of most altcoins’ rates. Index of dominance has dropped to approximately 50%. More technologically and informatively loaded, altcoins definitely can have a higher potential. What they really lack is mass accessibility. In order to become a mass instrument, altcoin is to provide an easier and clearer way of its generation.For example, VICoin is based on Ethereum technological platform, which has time and again updated its positions in TOP-10 cryptocurrencies recently, what emphasizes transparent advantages of the system. Moreover, with ‘digging’ (as compared to ‘mining’) being more apprehensible and easier to manage, Virtonomic$ turns VICoin into a massively available alternative cryptocurrency. Analyzing and forecasting cryptocurrency market motion, Virtonomic$ is to meet the basic needs of participants along with highest possible technological standards.

Everything have advantages and disadvantages and bitcoin have also a lot of good advantages and some disadvantages first of all bitcoin is only available on internet and if you don’t have no internet then there will be no bitcoin and secondly since bitcoin is arrived to market from that day till now one have seen bitcoin that how it look like because everyone not only support bitcoin but they also love bitcoin so I think it must be fix.

[Epimetheus]

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

1. A limited stock of 21 million bitcoins.
2. Decentralised nature. Although it gives Bitcoin power in many arenas, it has also led to its unacceptance. Also it is devoid of a source to enforce responsibility.
3. Volatility. The market price increase and decrease in just a short span of time.
4. Threat of future regulation by the government.
5. Can be hacked if secure wallets are not used.

[fabrizoc]

Main disadvantages of btc......no one to control the value of the single bitcoin. Due to lack of proper valuation systems Bitcoin can be subject to high volatility in price. coin anonymity can help those performing illegal activities *conducting transactions*. and finally scalability issue as btc infrastructure has not undergone any significant improvements.

This is not the disadvantage of bitcoin rather this is the major reason why people are so much involved with bitcoin. Just because that bitcoin is not a property of any single country rather it is owned by all people around the globe. It is a first public currency and it has given the true concept of globalization or you can say global village where all people are using one currency regardless of differences in religions, caste, creed etc. 

[RKSummer]

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

Some of the disadvantages that i know are the high cost and low maximum number of transaction per second. But all of those are already either solved or underway of implementation

Bitcoin said to be one of the great form of investment nowadays. But it doesn't mean it doesn't have a disadvantage. One disadvantage of bitcoin is the security. Every wallet address has its own private key, there is a big possibility to be hacked because it is connected to internet. Another one is the sudden changes of bitcoin value. We can't predict when it rise and fall.
In transaction matter, bitcoin is can possibly misused because it can't be tracked.
In mining, the disadvantage I saw is it energy consuming for just android phone users and laptap.

[Pamela Jobelle]

I think the main threat for bitcoin since its using internet it's also easy to hacker to hack the system.It depends if the security of bitcoin is though.

[Best Dreams]

It seems like Bitcoin is getting its head out of the clouds. According to coinmarketcap, its price lost of about 29% during the week and equals now of about $13.700. Capitalization exponential growth turns out to be not quite coherent with the Bitcoin degree of integration into the real life. Undoubtedly, this fact is considered to be one of distinguishing peculiarities of so-called ‘bubble’. According to the majority of analytical forecasts, Bitcoin is to fall three times in 2018-2019, what thus will approximate its capitalization value to a more reasonable one.

Possible reasons of Bitcoin’s decline can be accumulated risks, connected with Bitcoin data storage difficulties in some systems as well as with increase in time and cost of its transactions. Investing in Bitcoin can rightly be called ‘extreme’, and cryptocurrency exchange infrastructure at first sight is struggling with recently established overload. From the other hand, such high volatility is generally very representative for cryptocurrency market, where the significant role is given to political game of main holders.

In addition to the ongoing informational attack towards Bitcoin in terms of Ministry of Finance of Japan and Monetary Authority of Singapore statements concerning its unreliability, there were other events contributing to the fall. Emil Oldenburg, co-founder of Bitcoin.com, declared that Bitcoin has no perspective as a trading currency and sold his holdings. Getting rid of Bitcoin, agents usually invest in its direct rivals, such as BCH.
Simultaneously with Bitcoin decline, one can see rapid growth of most altcoins’ rates. Index of dominance has dropped to approximately 50%. More technologically and informatively loaded, altcoins definitely can have a higher potential. What they really lack is mass accessibility. In order to become a mass instrument, altcoin is to provide an easier and clearer way of its generation.For example, VICoin is based on Ethereum technological platform, which has time and again updated its positions in TOP-10 cryptocurrencies recently, what emphasizes transparent advantages of the system. Moreover, with ‘digging’ (as compared to ‘mining’) being more apprehensible and easier to manage, Virtonomic$ turns VICoin into a massively available alternative cryptocurrency. Analyzing and forecasting cryptocurrency market motion, Virtonomic$ is to meet the basic needs of participants along with highest possible technological standards.

Yes there are only two disadvantages of bitcoin and I think they are every important to fix because everyone want to see and use bitcoin every time every place first disadvantage of bitcoin is that it has no physical shape or loge and secondly bitcoin is only working on internet if you have internet then you can sue it and if you don’t have internet so then there will be no bitcoin so I think bitcoin will fix this problem as soon as possible because its users are going to increased.

[Tariel]

In fact, the course is not supported by any system, it is an independent currency that has positive and negative consequences

[hassan.shakeel.rajpoot]

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

It is vulnerable, volatile, and fluctuating. Many countries have banned it. It has no proper organizational location. No locals and it has been continuously rejected by the government.
But, sooner these all facts will be sorted out but not so sure about the vulnerability of BTC.  

[DjTremor]

Main disadvantages of btc......no one to control the value of the single bitcoin. Due to lack of proper valuation systems Bitcoin can be subject to high volatility in price. coin anonymity can help those performing illegal activities *conducting transactions*. and finally scalability issue as btc infrastructure has not undergone any significant improvements.

This is not the disadvantage of bitcoin rather this is the major reason why people are so much involved with bitcoin. Just because that bitcoin is not a property of any single country rather it is owned by all people around the globe. It is a first public currency and it has given the true concept of globalization or you can say global village where all people are using one currency regardless of differences in religions, caste, creed etc. 

Guys, it's all true, but, for me the biggest disadvantage is the blockchain congestion. Some transactions take couple of days to reach 3 confirmation.

[Jannatul Shefa]

I think the biggest disadvantage of bitcoin is in its use.Some criminal use it for their anti social activity. Other disadvantages of bitcoin is slow transactions problem and also the value of bitcoin.Nobody knows when the value of bitcoin grows.

[reck1ess]

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

High transaction fees with slow transactions.
No one can control the bitcoin's ups and downs.
Criminals can do transparent transactions through deep web.
Big flactuations(although it is considered also as advantage depending on the user)

[balakang00]

Well currently i can say that bitcoin is a bit slow on transactions that's why it's a little bit hard to handle. Also, the price is high and low at a point of time. It is not constant so it takes a good timing in buying and selling bitcoins.

[bajigur894784]

As a virtual currency, bitcoin is stored in the form of digital files or known as wallet files, the wallet files stored on the hard disk of electronic equipment are very vulnerable to damage. In addition, viruses that attack your hard disk can make bitcoins just disappear.
The digital wallet can also be hacked and stolen through malware. Not to mention the risk of hard disk content of bitcoin owners erased accidentally. More painful than (lost) cash.
I see it as (bit) the disadvantages of BTC.

[brituspol]

The slow speed of transactions if you don't want to pay much in transactions. Been waiting for a transaction to pass for more than 5 days , would've been done in hours if I increased the tx fee by a dollar or so

[danpaz]

As a lot of service available online, Bitcoin also has some disadvantage and we all face it in fact last weeks we experience higher fees to send bitcoin almost 30 dollars to just transact bitcoin address to address, which is a negative scenario compare to what its founder present Bitcoin as it is

[levvv]

If you ask me what is the disadvantages of bitcoin, here is all i can tell you

Lack of Awareness & Understanding

Fact is many people are still unaware of digital currencies and Bitcoin. People need to be educated about Bitcoin to be able to apply it to their lives.
Networking is a must to spread the word on Bitcoin. Businesses are accepting bitcoins because of the advantages, but the list is relatively small compared to physical currencies. Companies like Tigerdirect and Overstock accepting Bitcoin as payment is great. However, if they do not have a knowledgeable staff that understands digital currencies, how will they help customers understand and use Bitcoin for transactions? The workers need to be educated on Bitcoin so that they can help the customers. This will definitely take some time and effort. Otherwise, what is the benefit of such large companies accepting Bitcoin if its staff doesn’t even know what digital currencies are?

Risk and Volatility

Bitcoin has volatility mainly due to the fact that there is a limited amount of coins and the demand for them increases by each passing day. However, it is expected that the volatility will decrease as more time goes on. As more businesses, medias, and trading centers begin to accept Bitcoin, its’ price will eventually settle down. Currently, Bitcoin’s price bounces everyday mainly due to current events that are related to digital currencies.

Still Developing

Bitcoin is still at its infancy stage with incomplete features that are in development. To make the digital currency more secure and accessible, new features, tools, and services are currently being developed. Bitcoin has some growth to do before it comes to its full and final potential. This is because Bitcoin is just starting out, and it needs to work out its problems just like how any currency in its beginning stage would need to.

[Drunkenhorse]

Advantage - velocity
Disadvantage - velocity