What are some disadvantages of BTC?

[kotajikikox]

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.

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[faceoff97]

Bitcoin is still on the process of development and I have seen how it really grown since I got engage with it. Currently, there are still upgrades to be done. Some development I want to see which we consider a disadvantage is the high payment of transaction fee. I know that traction fee is necessary, I still hope that the developer will consider to decrease the fee. Aside from transaction fee, I consider volatility as disadvantage because this may risk the fund you store in your wallet. Though it may be a disadvantage, this is also a bitcoin identity which cant be change.

[UchihaRukawa]

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.

[Pursuer]

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.

lol, the bubble is not the bubble you make in your bathtub
it is economical bubble, and it is not real for bitcoin. they are just spreading FUD.

and I have to say a bubble can not last long, it can not get bigger and bigger for a long time. the life time of a bubble is pretty short, the bubble shapes up then it bursts pretty soon. you see a bubble is an unstable price because it is not real. in other words if bitcoin price were a bubble it would have already burst a long time ago and price would have gone down.

[Sithara007]

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.

The fee has become a major irritant nowadays. Just a few hours back, I paid a fee of BTC0.0010 to move my coins from Blockchain.info to Localbitcoins. Can you imagine? A fee of $4.50 to move coins from one account to another. I am getting dejected by the greed of the miners. Just check this and you will understand:

https://blockchain.info/block/000000000000000000c01fb1e0602412283525cc702168f3888e6d9fe6f8247b

Slushpool mining a 122 KB block, when there are more than 10,000 unconfirmed transactions in queue.

[123kape123]

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

Bitcoins Are Not Widely Accepted Bitcoins are still only accepted by a very small group of online merchants. This makes it unfeasible to completely rely on Bitcoins as a currency. There is also a possibility that governments might force merchants to not use Bitcoins to ensure that users’ transactions can be tracked.

[greatestwhitetwinpack]

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.

for me this is another disadvantage of bitcoin No Valuation Guarantee Since there is no central authority governing Bitcoins, no one can guarantee its minimum valuation. If a large group of merchants decide to “dump” Bitcoins and leave the system, its valuation will decrease greatly which will immensely hurt users who have a large amount of wealth invested in Bitcoins. The decentralized nature of bitcoin is both a curse and blessing.

[kuronokishi10]

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

[Ajan08]

Bitcoin Disadvantages:
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.

[malboroman]

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.

Fully agree with you. But i believe that there are a huge investments into btc infra now, which will allow to change the situation in several years.

[Blamsud]

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.

Fully agree with you. But i believe that there are a huge investments into btc infra now, which will allow to change the situation in several years.

The most common advantage of btc is it make the transaction easier and it act as a bank for us when we are able to save and control our finances.

[Wicked17]

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

Disadvantage of bitcoin are the increasing/decreasing in a short period of time and bitcoin can be use in a fraud or other criminal activity because they can use it in a transaction without showing their real identity. If you lose your private key in your bitcoin wallet it will be hard to retrieve your account. And lastly many people doesnt recognized bitcoin.

[Tyrantt]

If we're speaking of disadvantages comparing to fiat, the not so wide spread use of it outside the internet and dodgy markets, the instability of the price.. in my opinion. I wouldn't call the "almost completely anonymity" a disadvantage because it already has a higher factor of anonymity in comparison to fiat.

[hitrawal91]

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

There are many disadvantages of Bitcoin, i have listed few below:
1) Bitcoin supports the fraud and other criminal activities, which is absolutely the single most salient feature of Bitcoin’s anonymity.
    Conventional currencies are indeed subject to laundering and counterfeit.
2) Digital QR codes make it vulnerable to theft. Scanning that QR code means anyone can anonymously steal Bitcoins.
3) Mining Bitcoins is a health hazard and  It affect's the environment by producing the heat problems.
4) There is no central bank for Bitcoin and because of this a Bitcoin economy cannot grow in future because it cannot deploy excess capital for innovation.

[The Alchemlst]

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

Its service relies purely on internet connection which makes it impossible to use anytime and anywhere specially in some third world countries which internet is not a basic commodity.

[123kape123]

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

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

Its service relies purely on internet connection which makes it impossible to use anytime and anywhere specially in some third world countries which internet is not a basic commodity.

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

Its service relies purely on internet connection which makes it impossible to use anytime and anywhere specially in some third world countries which internet is not a basic commodity.

yes i agree but this is the one of disadvantage of bitcoin
No Buyer Protection When goods are bought using Bitcoins, and the seller doesn’t send the promised goods, nothing can be done to reverse the transaction. This problem can be solved using a third party escrow service like ClearCoin, but then, escrow services would assume the role of banks, which would cause Bitcoins to be similar to a more traditional currency.

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.

[PMmesexycoins]

Other than the already mentioned heavy reliance on infrastructure necessary to support its usage, is that it should be easier for criminals that are going to rob you, and it's much easier to lose your assets due to human error.

Nowadays, there's also the scaling issues it's had, and the relative high fees that make it impractical for smaller transactions, but that might get better eventually. For the time being some other alts are doing better in these aspects.

[Denies]

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

I think everyone's different point of view. I myself don't see the weakness side of bitcoin. because I am very grateful to get involved and gain knowledge about blockchain and bitcoin.

[dasdo]

It seems to me that its shortcoming is a commission that is growing in price. Well, the fact that few people believe in him. And so, almost the same virtues. Pay attention to this currency)

[patt0]

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

Well if you want to invest in bitcoin for profit, like you would on any commodity, then I don't really see any disadvantages, beside the lack of regulation in some countries. We all saw what happened in China, and what the suspension of exchanges did to users. They were forced to sell their coins and then re-invest on other exchanges, so they wouldn't risk losing their money. Of course BTC should be hold on wallets and not exchanges, so I guess this wouldn't be a problem for them if they didn't had their coins on the exchanges in the first place, but it's still a little concern. If you are in a country where regulation is already implemented at some level, like Japan for example, then you shouldn't have any problems.

If you use bitcoin for daily use, like buying goods etc, then I think the only disadvantage is it's high fees when spending small amounts. Also it's still not accepted in most places or merchants.