wtat are the biggest disadvantages of altcoin ?

[jhonycrypto]

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.

[1715091147]

1715091147

[CryptoAlphaStar]

In short - volatility, insfrastructure and user experience.
These long addresses should be replaced with something user friendly. I can't believe I haven't made a mistake for half an year when transacting.
Volatility - merchants can't price goods in something that changes 10% in a day. Most businesses have 10-20% margins of profit.
For alts with smaller volumes volatility is ever bigger.

[mpufatzis]

It is still too complicated to use cryptocurrencies.
Wallets apps or PC wallets are not user-friendly especially for the not tech-savvy.
A future solution would be a credit card (or a similar card) combined with cryptos.
There have been some cards in the future and some exist still today, but there have been many problems, not yet solved.

[Kate Beckett]

I believe that the biggest drawback of altcoins is that you never know if the project will be successful. A large range of systems, the vast majority of which do not receive recognition and dissemination, can lead to unsuccessful investments. In this segment there is a large number of frankly fraudulent projects posing as promising crypto-currencies.

[lelou]

- Volatility
- Involvement in scams ( Ponzi scheme)
- People aren't educated about crypto
- Banks may be preventing cryptos to boom???

[Crasengover]

The main disadvantange of all cryptocurrencies is their volatility. Of course, it's an advantage for traders but not for paymets. So the market lacks good stablecoins, much better and reliable than USDT. I expect to see the birth of new stablecoins during this year.

[adzino]

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.

Your title asks one question and then you describe something else (asking about bitcoin). Just in case you didn't know, bitcoin and altcoins are different things. Coins which are not bitcoin, are the altcoins. To answer  to your title that is what are the disadvantages of altcoin, you will need to know how the market works. There are shit tons of altcoins. Most of them are just some exact duplicate of other coins with just a name change. They are mostly the scam coins. These coins just create a bad impression on crypto currencies. People who are new to crypto currencies end up investing on those coins and as a result suffer huge loss. Thus the market it self starts to collaspe.  All they are doing is just crearing oversaturation which can negatively impact the market.
And bitcoin is not being used as a mainstream payment form due to its price fluctuation which makes it quite unreliable to store.

[bttmember]

I think if the transactions can be instant and extremely cheap or free we can see rapid adoption of cryptocurrencies by atleast the remittance industry, secondly, the long wallet addresses are a big hurdle, there should be a way to transfer crypto currencies directly to email or usernames, this will make crypto transfers error free and easy for masses.

[eviltamer]

The biggest drawback of all crypto-currencies is their volatility. I hope in near future there will be a stable coin.

[South Park]

It is still too complicated to use cryptocurrencies.
Wallets apps or PC wallets are not user-friendly especially for the not tech-savvy.
A future solution would be a credit card (or a similar card) combined with cryptos.
There have been some cards in the future and some exist still today, but there have been many problems, not yet solved.

Using a credit or debit card defeats the purpose of using cryptocurrencies you are just converting your cryptocurrencies to fiat and what we want is to use our coins independently from the banking system, so we need a way for people to adopt cryptocurrencies and I do not think that is going to happen until there are serious economic problems around all the world.

[dazz]

Instability is a huge drawback. You never know what will happen tomorrow. Unfortunately.

[kadirmon]

i think the biggest disadvantages of altcoin is that it is not decantralized. they depend on team and open speculatio so it is centralized.

[butka]

It is still too complicated to use cryptocurrencies.
Wallets apps or PC wallets are not user-friendly especially for the not tech-savvy.

To my mind, the single biggest problem is the level of technical knowledge required to use crypto-currencies without help from others.
Look how many people are really struggling when it comes to even the smallest problem regarding their PC.
They have no problem keeping their fiat money safe, though. But ask of them to keep their private key safe, that's a completely different story.
The single biggest problem to wide spread adoption is this lack of technical knowledge. And I don't see how we can solve it easily.

[ivlvov]

The price of crypto is very unstable today, you can pay for the product $ 1,000, and tomorrow, this same product may cost $ 500. This is definitely the main reason why crypto does not want to count on large online stores. But I think over time the price will become more stable and we will pay for purchases cryptocurrencies.

[mpufatzis]

You are absolutely right, my friend.
Probably what we need is a new kind of credit card (or credit card like), based on cryptocurrencies and not on fiat money.
So we could keep our anonymity while using our cryptos in an easier way.

It is still too complicated to use cryptocurrencies.
Wallets apps or PC wallets are not user-friendly especially for the not tech-savvy.
A future solution would be a credit card (or a similar card) combined with cryptos.
There have been some cards in the future and some exist still today, but there have been many problems, not yet solved.

Using a credit or debit card defeats the purpose of using cryptocurrencies you are just converting your cryptocurrencies to fiat and what we want is to use our coins independently from the banking system, so we need a way for people to adopt cryptocurrencies and I do not think that is going to happen until there are serious economic problems around all the world.

[taiwww]

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.

If you want to know about the bitcoin then why are you mentioning altcoins in your title! I dont get it !

Anyway, on the discussion front its main issue is legality of using all the crypto's. Its not just about the bitcoin or altcoins and its neither about their characteristic but a simple fact that is "non-acceptance" by the government. See, if they accept it one day and if devs see bitcoin/altcoin are being used as mainstream application then obviously rest of the developments will follow and things will be recovered in zero time. So thats the bothering thing or major disadvantage of it, we need ruling body!

[iLatios]

As for me the biggest disadvantage is unpredictable price and existence. We are sure that Bitcoin will be there tomorrow and probably always, but we can not think the same about altcoins.
Of course, the main need of crypto is being a part of on cryptobank with cards and other possibilities

[djsugar]

The trust is the biggest disadvantage of Altcoin since people stay worried that a company might run away with all of their money. The same happened recently with Freelancer coin. The company raised enough money and then eventually ran away with it.

With an increase in such number of incidents, people refrain from investing money in ICOs and Alts. Such investments are riskier than the investments made in Bitcoin or Ethereum.

[Hellobx]

There is no doubt that it is a slow transfer.
If bitcoin wants to be a real currency, the first problem to be solved is the speed of transfer.

[StarKay]

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.

If you want to know about the bitcoin then why are you mentioning altcoins in your title! I dont get it !

Anyway, on the discussion front its main issue is legality of using all the crypto's. Its not just about the bitcoin or altcoins and its neither about their characteristic but a simple fact that is "non-acceptance" by the government. See, if they accept it one day and if devs see bitcoin/altcoin are being used as mainstream application then obviously rest of the developments will follow and things will be recovered in zero time. So thats the bothering thing or major disadvantage of it, we need ruling body!

I have to agree with the points you've raised that the title is not in line with the discussion.
And as you've mentioned, acceptance of cryptocurrencies is the major challenge and the solution is to have a worldwide council on cryptocurrency that will set out guidelines and issue licence to developers.