What are some disadvantages of BTC?

[Dapper]

The big one for me is that btc exchanges are a weakness.   You hear about them getting hacked more than real world banks.  Not sure why they can't be more bullet proof.   The other weakness is of course just like what we saw in Australia this past week...  banks can suddenly sever the link between your bank account and your btc exchange account.    These issues leave you in the limbo of not wanting to keep too much funds in your exchange account...... BUT if you don't, then you cannot truly be an active trader (if you have to move your funds to your exchange account every time you want to do trades).   I made quite a bit this year riding the waves, but would have made more if I felt more confident of letting more of my capital spend the night or even medium term in my btc exchange accounts (as opposed to air gapped and off the network entirely).   

[ritsel02]

The disadvantages that I know on bitcoin based on my experience is a slow transaction in terms of transferring funds to other wallet especially when you chose the lower fee.Which only means that we need to pay high for a faster transactions.Another disadvantage is some people taking advantage of its anonymity using it on illegal transactions. But to be able to succeed disadvantages are just challenges for us,take the risk and aim high with bitcoin.

[Ailmand]

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.

One of its double-edged sword feature is its volatility, as far as it can be positive because it favors small-time holders to gain good profit because the price of bitcoins may increase at any time; however, it can also be a disadvantage because if it can cause an increase, it can surely cause a decrease as well. This is negative especially for those who hold on to their coins for the purpose of waiting for the value to come up, only to see that it will plunge and their prayer of a profit is gone with the wind. Another downside is the privacy and secrecy of it transactions, as much as it is helpful to keep-safe one's holdings, it can also be used illegally.

[doyayipaku]

bitcoin is limited and the bitcoin's transaction speed is slow. Currently the electronic money market has not been accepted and the capital of bitcoin is quite large if all the bubble burst will disappear.

[nanasei]

Network fees is one of the main disadvantages of BTC. The risk of send an amount to a wrong address, which means your money is lost, is also a disadvantage I feared most when using BTC

[didik12]

I think the disadvantage of btc is not accepted in other market or restaurant. When you have a btc in your wallet and the virus destroy your wallet in the system the btc will become useless. And other disadvantage when the btc prize is going lower other users become distrust.

[BobbyZounours]

Bitcoin has not been fully used as a transaction tool, it still needs refinement. Especially if living in a country that has not legalized bitcoin, tastes like vegetables without salt, high value but can not be used in my own country except with online purchases.

[bosimpson54]

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

Some disadvantages of Bitcoin are that their price is not always increasing, but at times it drops to the point of causing fear to others. Bitcoin is also a common disadvantage: hackers, Bitcoin always have these weaknesses and disadvantages

[8Habits]

Bitcoin has not been fully used as a transaction tool, it still needs refinement. Especially if living in a country that has not legalized bitcoin, tastes like vegetables without salt, high value but can not be used in my own country except with online purchases.

I agree with you mate but I am still hopeful that in the near future, bitcoins and other alt coins will be the future money to use in everyday transactions with all of the current disadvantages addressed already.

[Tungsten-1]

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

First is that its price is very unpredicable and if you are too greedy, you might lose assets. Second is that it is sometimes cosidered as illegal. Lastly, it is considered in some governments a threatto the economy.

In my point of view there is no disadvantage of Bitcoin, some people say that the criminal use of Bitcoin is the only one disadvantage of it. But think that the criminal mind people are in everywhere in the world and their activities are always in a negative way. So the fault is in the mind of criminals not in Bitcoin or any other way they use for crimes. The Bitcoin is the only virtual currency of the world which got a popularity of such level.

[athanz88]

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

Well for me, there are more the good than the bad in bitcoin, but if you want to talk about it, i guess the disadvantages of bitcoin right now are :
1. High transaction fees
2. Slow transaction speed
These 2 matters is a big disadvantages now for bitcoin in my opinion as it can slow the movement of bitcoin in the market, and not to mention that people will use this fact to bash bitcoin. I think it is kinda crucial things and bitcoin needs to improve it faster.

[ferdaus]

BTC transaction, not trace it is an advantage for BTC then it is a big disadvantage.Than BTC transaction does not trace, so the terrorist does use bitcoin in crime sector.

[bastecritical]

One of the most noticeable disadvantages in earning Bitcoins is that the mining time can be time consuming and slow. The fees that are involved are also high.

[sneeze11]

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

For me the disadvantages of bitcoin is that it is not legalized worldwide and some country want to banned it. Actually I read an article that telling that there's a possibility that bitcoin can be gone in some country like on my country because the people who make it are all gone. Some says it a scam that the money that they gave to people is the money that they get to us.

[gatti]

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

For me the disadvantages of bitcoin is that it is not legalized worldwide and some country want to banned it. Actually I read an article that telling that there's a possibility that bitcoin can be gone in some country like on my country because the people who make it are all gone. Some says it a scam that the money that they gave to people is the money that they get to us.

Actually it's not a disadvantage bro,it takes sometime to make legal. Many countries start to make bitcoin as a legal currency due to the increase in price and adoption.No one can stop the growth of bitcoin.

[dvillier]

The disservices that I know on bitcoin in view of my experience is a moderate exchange as far as exchanging assets to other wallet particularly when you picked the lower fee.Which just implies that we have to pay high for a speedier transactions.Another detriment is a few people exploiting its obscurity utilizing it on illicit exchanges. Be that as it may, to have the capacity to succeed hindrances are simply challenges for us,take the hazard and point high with bitcoin.

[Alexnelepa92]

In fact, of the advantages of Bitcoin come up and its shortcomings. First, using your wallet anonymously, you have only the password and the bitcoin code that are required for authorization. In case you lose the password or forget it, just lose the wallet and the money on it. You will not be able to contact any regulatory authority or Bank and request a password recovery and access of such a body simply does not. Also a flaw in the system that by sending a payment, you can neither stop it nor change the conditions – it is done irrevocably. If you specified the wrong amount or payee, nothing will not change

[realcrypto]

The major disadvantage of bitcoin is the ability of being hacked at any time or some one can loss it if password to the wallet is forgotten.

[bitcoi]

Bitcoin is probably more volatile and risky then any other currency. I'm an investor in cryptocurrency and the high volatility of the bitcoin make me nervous. Also the regulatory framework for cryptocurrency businesses is incomplete. Criminals are using bitcoins for illegal activity on the Dark Web.

[ksjdksjd]

Bitcoin payment system is very slow for transaction confirmations.bitcoin transaction charges increased.