What are the biggest disadvantage of bitcoin ?

[Timok Abiodun]

* Bitcoins Are Not yet Widely Accepted
* Wallets Can Be Lost
* Bitcoin Valuation Fluctuates
* No Buyer Protection

[zhopas]

What's preventing Bitcoins from being accepted as mainstream payment forms? I'm working on a new blockchain and would like to learn what drawbacks of Bitcoin urgently need to be improved Wink

I think the one of the most disadvantage of bitcoin is being open to all people where there are some of those are not worth to trust and they're plan is just to scam money. Also I think the increasing transaction fee while the price of bitcoin is decreasing.

[Playmode Kreative]

 Risk of Unknown Technical Flaws - The Bitcoin system could contain unexploited flaws. As this is a fairly new system, if Bitcoins were adopted widely, and a flaw was found, it could give tremendous wealth to the exploiter at the expense of destroying the Bitcoin economy.

[BlackRacerX]

What's preventing Bitcoins from being accepted as mainstream payment forms? I'm working on a new blockchain and would like to learn what drawbacks of Bitcoin urgently need to be improved Wink

There are two disadvantages that I don't like about bitcoins: the slow transfer rate and the expensive transaction fees. These problems have been around for quite some time now and I hope the bitcoin community might do something about it. Like some adjustment to bitcoins.

[lekleklek]

What's preventing Bitcoins from being accepted as mainstream payment forms? I'm working on a new blockchain and would like to learn what drawbacks of Bitcoin urgently need to be improved Wink

There are two disadvantages that I don't like about bitcoins: the slow transfer rate and the expensive transaction fees. These problems have been around for quite some time now and I hope the bitcoin community might do something about it. Like some adjustment to bitcoins.

I think most maximimalists would argue that Bitcoin scaling takes time and that slow transactions aren't really that slow when the network isn't busy, and if it is, we need layer 2 solutions.

[harobaru]

the biggest disadvantage of bitcoin is robbers uses bitcoin account to transfer money.

[bitvelk]

I do not know much about the technologies of bitcoin and other cryptocurrencies. But I believe that the biggest drawback in the adoption and implementation of bitcoins - is the brains that have the public authorities of many countries. The matter is that absorbing majority of deputies and officials, aren't capable to accept, estimate and use digital currencies. They seek benefits for themselves, seek ways to regulate and limit. It's sad and outrageous. We need to come up with a way to use bitcoins, which will not leave possible options to limit its functionality.

[diickydbo]

Fortunately I have never experienced a big loss. Because some of the bitcoin I got from following the bounty campaign. Maybe just a few losses because I was too selling bitcoin when the price was down.

[kangbasir]

These currencies are considered high risk because they do not have regulators such as decentralized bitcoin cryptocurrency and are not regulated or guaranteed by central authorities and I think this is a weakness of bitcoin

[evdoksi]

What's preventing Bitcoins from being accepted as mainstream payment forms? I'm working on a new blockchain and would like to learn what drawbacks of Bitcoin urgently need to be improved Wink

Only disadvantage that I see with bitcoins is that the payments are not instant. Since, we already have options like PayPal where transfer is in seconds, it is a big limitation.

[Kimjonghun]

unstable bitcoin prices I think is the main thing that makes bitcoin difficult to become the major currency of a country. In addition, each country has its own currency. so I think it will be difficult to replace the major currencies they have long used with bitcoins. and also bitcoin is peer to peer so the government is difficult to manage it. so it seems bitcoin to be the main currency of a very small country for now.

[zavox77]

I think the biggest disadvantage of bitcoin because bitcoin prices are very volatile and increases/decreases at a very high pace. If you lose your bitcoin wallet, you have lost all of your bitcoins in that wallet and frequent black market transactions have made owning bitcoin bad for reputations.

[al maruf]

Bitcoin has the ability to be hacked, keeps track of hackers, is often used for illegal purposes,If no service is available,Market price is unstable, the biggest power of Bitcoin is that it is virtually anonymous. Since bitcoin transactions are sent from the hash address - hash address, it can be completely unknown to each other for both parties.

[Obeng ketok]

there are still many people not knowing the existence of bitcoin, not all countries give permission in the use of bitcoin. this will affect the bitcoin price.

[GeorgiyBilyk]

the biggest drawback in my opinion, is that it does not have a worthy competitor! because of this, the stability of all coins is very hesitating upwards !!! when there will be at least five competitors with good capitalization there will be a uniform growth of all coins!

[fuding12]

I think, disadvantage of bitcoin is a soaring Bitcoin transaction fee, This is definitely not a digital currency that can work effectively as a major currency.

[AnnaGeraMsk]

I think this is that it depends on the Internet) there is no internet and bitcoin, so that's it, but on the other hand, life without the Internet no longer seems to anyone...

[Ishiro5]

A disadvantage for the purpose of your work is bitcoin's anonymity, and this makes it an easy target for people who are on the sidelines to easily allude to the fact that it can easily be used for money laundering (which in itself is not the whole truth).

[@Hakermania@]

I still think that the biggest drawback of the btc is volatility. The BTC will never be able to establish itself as a popular currency if the owner risks seeing his investment or salary halved in a very short time.

[Starone1]

What's preventing Bitcoins from being accepted as mainstream payment forms? I'm working on a new blockchain and would like to learn what drawbacks of Bitcoin urgently need to be improved Wink

There are two disadvantages that I don't like about bitcoins: the slow transfer rate and the expensive transaction fees. These problems have been around for quite some time now and I hope the bitcoin community might do something about it. Like some adjustment to bitcoins.

I think most maximimalists would argue that Bitcoin scaling takes time and that slow transactions aren't really that slow when the network isn't busy, and if it is, we need layer 2 solutions.

It is not true bitcoin transaction is no more a problem because I has started to increase the speed and in past I was slow but now it is fast and gradually getting faster, we should not sell it for this minor issue which is almost solved, bitcoin is best investment which does not have any problem according to me and to be honest I have seen bitcoin as an advantage only, to me it does not have any kind of disadvantage at all. Transaction has become very fast with very fair price, try to be positive minors things does not matter to me in front or highest profit.