What are some disadvantages of BTC?

[donGeilo]

There are many advantages of bitcoins but with some advantages bitcoins also has many disadvantages .
One of the main disadvantage of bitcoin is that its mining takes a lot of time . Bitcoins have a limited stock of 21 million , the limit makes it a bit rigid . The influence of ban of bitcoins in some part of the world leads to a negative impact which decreases its value leading to loss for the investors . While investing the investors has no Buyer Protection . If the computer system catches and the data is lost there is a risk of losing details of the wallets . So all these are some disadvantages of bitcoiins.

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[PhucS]

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

I remember that there were a few topics that talked about this issue but you may not have noticed. Beside the great advantages Bitcoin has its drawbacks. Bitcoin's biggest limitation at the moment is probably the slower pace of the transaction and the fee are still high, despite the reforms, but it does not change much. Bitcoin prices are often volatile, which is unavoidable because it is one of the characteristics of electronic money. One more thing, Bitcoin is increasingly becoming the target of criminals, especially cybercriminals. Bitcoin has an uncontrolled form of trading that should be used by many groups, organizations and criminals using this currency as a transaction method and extortion

[Sendibere]

In my opinion. The disadvatage of bitcoins is its free use of restaurants and other necessities that money is to be paid. Because the bitcoins you say you'll pay are likely to get you mad. Because people do not really know bitcoins yet. Just like what happened to me but it was my intention that the cashier knows the bitcoins.

[iL_P4driNo]

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

Bitcoin can't be used like official currency for a country or even to pay regular employee due to high volatility.

[Denies]

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

I dont see from the weak side. because I'm not sure of the weak side, for me bitcoin is more useful and has properties, not weaknesses. that's what I think.

[Proton2233]

In my opinion. The disadvatage of bitcoins is its free use of restaurants and other necessities that money is to be paid. Because the bitcoins you say you'll pay are likely to get you mad. Because people do not really know bitcoins yet. Just like what happened to me but it was my intention that the cashier knows the bitcoins.

Why would the cashier know what bitcoin is? Them enough that they will check the amount credited to the account. But I think that the restaurants will use bitcoin once it will make online stores. It is easier to control the price of bitcoin and the owners of the Internet in the subject. They understand what bitcoin is and where it can be applied.

[chichan13]

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

The advantages of bitcoin are also its disadvantages depending on the current situation of the market. Here are some of disadvantages of using bitcoin today:

1. The volatility of bitcoin is a double-edged sword, very unpredictable in its price and might result to a profit/loss on an individual;
2. Its limited supply of 21 million in the market;
3. Some counties ban the usage of bitcoin, resulting to a decrease on potential investors;
4. There are many external factors that can affect its price like the banning of ICOs in China; and
5. Its decentralized nature makes it as a perfect medium under the dark web for illegal transactions.

Those are some of my opinions regarding its disadvantages but the advantages of using bitcoin in the community supersede all of those what I stated. There may be some drawbacks from transacting bitcoin but let us not forget its endless opportunities in the community.

We all know that bitcoin also have disadvantages liks you can't use it in offline store and it has limited supply. In addition to that, bitcoin is still not accepted in other country. Lastly, we all know that the price of bitcoin volatile so that I think it is one of the disadvantages of bitcoin.

[harizen]

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

Disadvantages may varies per users. If you are talking about general disadvantages then you can check out some articles around like this: https://coinreport.net/coin-101/advantages-and-disadvantages-of-bitcoin/

There are disadvantages that varies per user depends on availability, accessibility and usages. Like example for normal payment, bitcoin needs internet to fully do 100% transaction. It can't work without internet. Another thing is usages of it like normal currencies since no doubt even at this stage, there are only few merchants on a whole that accepts bitcoin as payment method etc.

But always remember that some of the disadvantages isn't lasts forever as development always follows.

[ReLieD]

Well the biggest disadvantage of Bitcoin is that it can die anytime and people who might have invested thousands of dollars can't even do anything about it . But looking at its growth it might it is not possible for Bitcoin to just fall down to zero. So for like w years or so we are safe and need to worry about this. Rest all disadvantages are very small competitively like fees and confirmation time and stuff

[captainhera]

1. BitCoin transaction fee is high, we have to pay a lot of money to greedy miners
2. Bitcoin trading speed is slow even though hardfork was just 1/8
3. Large price fluctuation range,
4. Investing in BitCoin is risky
5. Hackers, hackers attack, appropriated
6. Abused in criminal activities: drug trafficking, weapons, gambling.
And there are many more I can not list

[stompix]

If you start digging there are a lot of disadvantages but most of them like not being accepted in a certain store are the fault of humans not of the design. Strictly speaking of the design I can count those:

1. Confirmation time and fee (can me modified with a fork)
2. Requires internet - nothing that can be done here
3. You must rely on your wallet and you backups, and for most people it's giving a feeling of insecurity and constant fear of losing their coins

[nizamcc]

There are many, like:
- It is pseudonymous (not completely anonymous due to the fact that blockchain is a public ledger which makes everything transparent and traceable).
- Every other day, fear of something new happening in miners' minds to just come up with a new fork proposal.
- Sometimes, it drops too much that sometimes explaining the reasons to friends and/or investors become very hard.
- Fee hike in fiat when price literally jumps up as miners may decide not to lower it down in terms of BTC (sometime before when SegWit didn't lock in completely).
- Hackers need your private key and it's gone - it's extremely hard these days to keep up with these online wallets/exchanges which may get hacked any time due to lack of security.

[carlfebz2]

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

Going back in the past I do love bitcoin because of its fast and less transaction but now those things have changed to slow and higher fees which I can already say that this is some of the disadvantage of bitcoin this is why I do make use on some alts when it regards to fast confirmation with less fees transactions.On the other hand bitcoin do have disadvantages on its anonymity feature which can really possibly being used to commit crime.

[dart vader]

Along with advantages there are many disadvantages of Bitcoin such as it do not have any physical form and needs to be converted into some other currency inorder to use it in physical stores.  It is decentralized so it will not be accepted as governement as the only currency for financial transactions. Its price keeps on fluctuating . These are not accepted in every country. Bitcoin trading speed is slow .It is also used in darkweb. We contain our Bitcoin in our wallet but if the key to that wallet is lost then we will loose our BItcoins also and there will be no way to get them back.

[Sasuke102001]

Actually disadvantages for Bitcoin would differ from people to people I think maybe I'm not sure. But the disadvantage that I face with Bitcoins is in my country Bitcoin isn't accepted everywhere so I can only use it on buying digital items. Even shopping sites here don't accept Bitcoins. I can count this one as a disadvantage for me at least.

[Lyancy001]

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

Well one that i can think of is that it is still not perfectly anonymous. Personally i'd like to see bitcoin evolve into the future into something like XMR with essentially in built coin mixing. This is probably not necessary but rather an add on.

Another thing is that, fees are often high.

Also, blocks are 10 minutes on average in between so that means you're probably not going to be able to get stuff irl instantaneously without the merchant having to trust you.

Bitcoin is also used as currency in the dark web, like in pornography and also for criminals for money laundering.

[Hawkers7]

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

Bitcoin is good for us because it helps us earn money in order for us to sustain our daily needs. But bitcoin do also have some disadvantages. One of it is consuming too much time and effort of someone. In order for us to earn bitcoin, we need to spend more time and effort to it that lead us not to do some things we must do.

[Rishabh riyz]

In my personal views the disadvantages of bitcoins are :-
The anonymous nature of bitcoins :- the anonymous nature of bitcoins are one of the reason why governments aren't accepting bitcoins, they think that this would affect their economical sociology, the government would not have any record of transactions and people could also use it for funding illegal stuffs .
The transaction fees and the transaction speed
Bitcoins are not accepted everywhere so we cannot just pay anywhere by bitcoins .
Bitcoins have a fluctuating value , well this is a big advantage for traders but if we see people will obviously buy things when the value would increase so indirectly they will have to be dependent for the value to increase.
Bitcoin cannot be operated offline. I mean people would need 24×7 internet.

[wolfracer]

Among the major disadvantages are the cost of transactions this make impossible to do  micro purchases with bitcoin, The recent regulations by governments, the bitcoin core wallet is very heavy so it's make harder to put a node active.

[ericson]

First of all bitcoins have many flaws  ut can be used in illegal transactions such as illegal drug payments deals from illegal  doings it can be safe to anyone and the criminals and illegal doers as well and some governments of a state dont approve this kind of transactions to make the criminals off the hook it can ge dangerous to other countru too because criminals can use this kibd of method to erase some traces of illegal transactions that has made it cannot be used in other because bitcoin can be used also in wrong doings it is not it is a dangerous activity on a country if not stopped fast