What are some disadvantages of BTC?

[Mariya03]

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

One disadvantages of Bitcoin I know is it price is not fixed and it is very unpredictable. It always varries everytime. It is very easy to decrease but it never increase higher than we expected. Like now, we can't exchange our tokens to bitcoin because its price is lower than we expected.

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[cuplisbird]

Perhaps many people think it's safe, but I think there's a bit of a weakness in terms of saving the virtual currency. You store your bitcoin in the wallet and then store it on your hard drive or other electronic equipment. So if it is damaged or exposed to the virus, virtual money stored in the wallet is very vulnerable lost.

[Dessy Nurvianti]

1. Not Stable
( Bitcoin is a currency that is speculative. While there are not enough companies currently offering the purchase and sale of products with bitcoin as a means of payment. )

2. Very risky lost or stolen
( As a virtual currency, bitcoins are encapsulated in the form of digital files or known as wallet files. In use, the wallet file is similar to the cash register function. )

3. Money laundering tool
( The use of bitcoin currency is not controlled by the government or authorized financial institution. As a result, such conditions provide great opportunities for criminal activities such as money laundering and tax evasion. )

[amzad]

The biggest problem is that Bitcoin is not a stable price currency - it does not have any authority to control it. So its value can be much higher. For a 100 rupee note like 100 rupees, but the value of 1 bitcoin is not always the same. It may be that many times you may have to accept many losses.

[Sendibere]

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

The volatility of bitcoin is a double-edged sword, very unpredictable in its price and might result to a profit/loss on an individual. And Some counties ban the usage of bitcoin, resulting to a decrease on potential investors.

[perto01]

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.

[TorbiK]

Mining is required to create new coins and carry out transactions. Bitcoin uses for this process a scheme that involves a huge number of calculations and turns into a waste of a lot of energy. With the growth of the value of the cryptocurrency, the mining of new bitcoins is becoming more profitable. Therefore, miners increase the capacity of their systems, and energy is consumed more and more. Now the maintenance of the bitcoin's work consumes so much energy that this would be enough for some countries.

[hermada]

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.

Fees and anonimity will be sorted out
https://medium.com/@nopara73/anonymous-bitcoin-1fae5d1e33b7

[michael shikany]

The biggest problem with bitcoin now seems to be the slow transfer rate, and the transfer fee is too expensive. This is the biggest problem. No one will pay such an expensive fee in daily life.

[wormgummy019]

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

In my own opinion, there are some disadvantages of bitcoin. One of the example is that there are many hackers in bitcoin that can hack your account and can rob your profit when you invest money. Another thing is in other country, they treated bitcoin as illegal. There are some chances that the value of bitcoin is falling very low and many investors change into altcoin. Another disadvantage of bitcoin in students is some students don't focus on their studies but instead they focus on bitcoin which is wrong. Another is some employees change their profession and jobs to bitcoin.

[Magic Sarap]

There are few things that make bitcoin not a perfect coin. Bitcoin is very unpredictable, one wrong move will lead you to a big lose of money. Another disadvantage of it is you cant buy goods using bitcoin because it is not yet accepted in other countries.

Lack of awareness and knowlegde of other people about the bitcoin is one of the reason why you cannot buy good using bitcoin. Not all people can relate and understand what the bitcoin is. Its instability is also one of its advantages.

[shanksluffy]

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

The disadvantage of btc is easy to duplicate in the different fakes site that offer fake mining of bitcoin. These illegal activies affect the name of btc because other people thinks in btc is a scam not earnin that's why they stop investing in btc

[CARrency]

The biggest problem with bitcoin now seems to be the slow transfer rate, and the transfer fee is too expensive. This is the biggest problem. No one will pay such an expensive fee in daily life.

I am using bitcoin for a long time now and I don't think that this is the disadvantage of bitcoin. I am using a certain bitcoin wallet and I can transfer bitcoin from other wallet almost instantaneously, as long as it is the same wallet. If I will be asking what will be the first problem of bitcoin these days, that will be the people who accepts it in the market and in the real world.

[DragonCoinZ]

I think the biggest problem is that bitcoin is technically not up to date. The block size is to small. You see in the past what happends when the are a lot of transaction. The whole network is so slow and you cant use bitcoin anymore to transfer because it take to much time. Trading is impossible, and without trading, the biggest part of the use for bitcoin falls away. So the community has to do something that bitcoin can keep up in the future with other coins.

[Tonygold1967]

I think we also know disadvantages, one and most obvious is the speed of transactions.

[CHILO20]

First of all, BTC is not for everyone right now because of all the FUDs coming from the government and media itself.
And some of the ICO's scams are making crypto's image look like a dirty piece of technology. It would scare most of the people who doesn't know a thing about it.
Only people on our generation or at least people who have access to computer technology can perfectly understand, utilize the use of BTC.
It is not perfectly secured and you can be phised or hacked and all of the new modus operandi that the criminals are using online.
Some investors and merchants doesn't see crypto as a perfect mode of transaction or investment. It is not widely accepted by most and they will prefer to do stocks/forex, or bank investment which is for me a scum of the earth. There is not such thing as bank investment, lol. For crazy rich people it could happen.
Miner's fee, you can call it disadvantage but for me it's part of the process. The Data transfer speed and the crazy fee differences and nodes.
The whole system is not yet perfect, but i am positive and i think that it is improving. But sometimes the government and the banks having all of the hearings is making me feel uncomfortable. Because i have put my hard earned money on BTC and they are trying to manipulate us again. Crypto should be regulated, yes but it should not be manipulated. It is decentralized and it is for all of the people who appreciate the use of it.

[Jessica2009]

    If BTC has advantages there is disadvantages also Bitcoin is the worlds first decentralized , digital, virtual currency  and is gaining more popularity . Even though it is volatile people are not aware of Bitcoin so they don't want to take risk, only a small number of investors are involved in it . Bitcoin businesses are new and there is no insurance in it and there is possibilities of government interference. The government will not take your Bitcoin but they can ban Bitcoin these are the disadvantages of BTC.

[DoublerHunter]

I think the biggest problem is that bitcoin is technically not up to date. The block size is to small. You see in the past what happends when the are a lot of transaction. The whole network is so slow and you cant use bitcoin anymore to transfer because it take to much time. Trading is impossible, and without trading, the biggest part of the use for bitcoin falls away. So the community has to do something that bitcoin can keep up in the future with other coins.

I agree to that. The network of bitcoin is not that big like the other cryptocurrencies to have a smooth transaction and that is why a lot of people are not that interested to use bitcoin as a mode of payment because they know that they will not be able to do a good transaction if the network of bitcoin cannot handle a lot of transaction or in short, congested.

[drm]

Scaling and high transaction fee's. If you want to be able to compete with real payment systems then you need better specs.

[cobeksede]

the weakness of bitcoin is that we can not buy goods or objects such as cars or motorcycles with bitcoins but must be melted first in the form of money that means unstable bitcoin