What do you think is the biggest disadvantage of bitcoin?

[Casdinyard]

In my opinion, the main weakness of Bitcoin is the limited internet service. because bitcoin can only be accessed using the internet network. and we all know only developed countries where almost all of the population can access the internet. whereas in third countries only 50% of the population has access to the internet. but I am optimistic that over time the internet network will expand. and bitcoin will be a revolutionary currency that is very suitable for us to use in a digital era like this.

There's this hardware wallet such as Ledger Nano S/X, wherein a user would be able to receive funds even without the use of Internet. But things are different when you will send funds to another wallet, if I'm not wrong. So maybe, from this, there is still a chance in the future to solve this, if this will really be problem in the future.
The biggest disadvantage I think, but also one of its advantages is its volatile market value. It is a downside on the aspect of it, being a digital currency because not all people are interested to invest because there are risks of losing money. Advantage on the other hand for investors because it gives profit.

[Gotumoot]

For me the biggest disadvantage of Bitcoin are.
1. Fee as price of Bitcoin increase the price of transaction has been pricey.
2. Slow confirmation I would need to wait for few minutes if I am lucky but mostly an hour or more to receive my transactions.
3. Not everyone accepts it we couldn't easily use Bitcoin to pay for anything that we want.
4. Price fluctuation the price of Bitcoin or any crypto could go up or down in just a short time.
For me those are the disadvantages of Bitcoin if I would compare it to Fiat.

[Inkdatar]

From what I have experience is the transactions fees when sending bitcoin from the wallet. It takes time to confirm and received into another wallet, although we know when btc price increase the fees do increase also. This is the most concern by the users of bitcoin and if we have Bitcoin especially in our country it is limited to use since only few accepting Bitcoin payment. And that's we need to convert it to fiat to buy things. Hopefully in the future we could see an improvement in bitcoin.

[Ridwan Fauzi]

I haven't seen another disadvantage besides the fee transaction in bitcoin. Because many people think that its volatility is another disadvantage for bitcoin, I don't disagree about it. I can make money in a few times at least 15 minutes by trading without its high volatility yeah I'm sure I need more time to make money. But the fees problem seem like can't be changed since the system is decentralized so there is no party who will manage all the transaction and reduce the fee transaction in order to many always comfortable to use it, you will give a fee to the random miners.

So, if bitcoin getting a high price like $100.000 there is no one who will use it as a means of payment or an alternative to sending money because they must spend a lot of money for each transaction. They will only use bitcoin for trading/investing purpose, as an alternative to withdraw their money or for sending money they will use an altcoin to do so. And I guess you can also do it right now, you can change bitcoin to altcoin first and sending them to your another account and after that, you can sell the altcoin to your money fiat.

[bitzizzix]

Some of the shortcomings that bitcoin face is not a big problem for me because I will keep using it as long as bitcoin is profitable and can change my life for the better.
maybe in general what we often encounter is the slow process of transactions and which in my opinion is reasonable because it requires a supporting internet network, and has a large price volatility so that it cannot be predicted to be used as a currency.
and have high transaction costs and even higher if you want a bigger adoption, so whatever the problem does not matter because nothing is perfect there must be advantages or disadvantages.

[tbterryboy]

Well, there are few things that’s comes to my mind when they talk about the disadvantages of bitcoin and the first one is the kind of damages or ills that can be caused to our environment as a result of mining of Bitcoin.

Some people have said that this is not true and that Bitcoin mining cannot have any bad effects on the environment, this seems to be a debate as for now, so I can’t come to a conclusion that it is true or false. The next one is the black market activities, yup we all are aware that so many of them from the dark web now prefers Bitcoin and it’s giving Bitcoin a bad reputation which I don’t like.

[finaleshot2016]

If we say disadvantages, these things affect our ability to use bitcoin right? Then I'm thinking a lot of things about disadvantages of bitcoin. First thing is the high transaction fees, this can't be controlled as we know that bitcoin is decentralized and high fees isn't a user-friendly. Those starters who have small amount of btc is at disadvantage, only few btc will left when converted into fiat. Second thing is the slow transaction process, how will merchants and other business to adapt the use of bitcoin if it has slos confirmation? The last thing is the security, if you don't have any knowledge of using cryptocurrency then your wallet is at risk. The security is mot guaranteed especially when you're using an online wallet.

[senya-com]

Lack of vast infrastucture accepting BTC for mass consumption goods and for high-cost purchase is the main drawback.

[Lordhermes]

In the recent years, several news about lost bitcoin was around the crypto corner, but nobody really talk about it. Building on a crypto system also has disadvantage which sometime hard for easy detection on the fault in it because it rarely  happens, and if does, its because of users mistakes. Sending bitcoin to other altcoin is another disadvantage in it, inability to recover lost bitcoin if the owner is dead, this is the advantage fiat system has over bitcoin decentralized systems.

[Shasha80]

Surely it is not without reason that Bitcoin is like that, having a high transaction fee, which would be even higher if adopted en masse.
That’s the nature and characteristics that blockchain technology first showed by Bitcoin.
Because since bitcoin was born more than over 10 years ago, and is not a legal entity, the risk of cybercrime has always lurked.
Although today’s blockchain technology systems are quite resilient, the possibility of hacking is definitely there.
For this, the government is not responsible only users are solely responsible for the management of their accounts

[Twinkledoe]

Major two things for me which is disadvantages as considered for bitcoin is that not many merchants are accepting the bitcoin and as result in daily life it is difficult to use it or rather very hardly use in our life. Secondly due to price rise, the transaction fees have risen and thus confirmations are now also taking lot of time.

If something is done with the increasing transaction fee, I think more merchants will accept it as one of their payment methods. Volatility is always there. But it can be address by converting it right away to their fiat so as to avoid large margin of change, if they want it to. I think right now, the tx fee is the major disadvantage of btc. No question about its popularity.

[Oceat]

In the recent years, several news about lost bitcoin was around the crypto corner, but nobody really talk about it. Building on a crypto system also has disadvantage which sometime hard for easy detection on the fault in it because it rarely  happens, and if does, its because of users mistakes. Sending bitcoin to other altcoin is another disadvantage in it, inability to recover lost bitcoin if the owner is dead, this is the advantage fiat system has over bitcoin decentralized systems.

Expect it already that there are people like to use the advantage of the technology to make more money by doing such odd actions. And also, Bitcoin is different from other altcoins, just think the other altcoins as a copy of Bitcoin but different just like the BSV trying to imitate Bitcoin yet people don't trust it since someone is controlling behind it. Unlike Bitcoin which is why we call it decentralized because no one is controlling the whole Bitcoin market except for the trading part of course since this is an open market.

[Janation]

Major two things for me which is disadvantages as considered for bitcoin is that not many merchants are accepting the bitcoin and as result in daily life it is difficult to use it or rather very hardly use in our life. Secondly due to price rise, the transaction fees have risen and thus confirmations are now also taking lot of time.

The adoption is really slow.

We already know that but since the pandemic started, a lot of people are putting their hands on cryptocurrencies because of their personal reasons, some actually use it as a payment or to transact money and most of these people are wanting to invest in them. Although the doption is slow, we are slowly getting there, it really takes some time.

[proTECH77]

The biggest disadvantage I noticed on bitcoin is pump and dump. Many trader will be busy with their trading hoping that the price has increased for them to supply to market but the next thing is to see the price has fall down.
No investors will be happy, see market decrease because of some coins they are holding for a long time. Few weeks ago bitcoin pump very well, that make some investors have hope that it will still go higher before they can sell in the market. Over few days now the price is gradually decrease which many trader don't want to use their eyes see market decreasing.

[carlisle1]

The biggest disadvantage I noticed on bitcoin is pump and dump. Many trader will be busy with their trading hoping that the price has increased for them to supply to market but the next thing is to see the price has fall down.

But this is the proof about market that is Volatile and active same as healthy market mate,remember that with this Pump and Dump price many are gaining but of course there is also a loser.
this is how the market goes mate.

No investors will be happy, see market decrease because of some coins they are holding for a long time. Few weeks ago bitcoin pump very well, that make some investors have hope that it will still go higher before they can sell in the market. Over few days now the price is gradually decrease which many trader don't want to use their eyes see market decreasing.

If that is true then why still many traders and holders are staying in this market?that is because they have seen this movement so many times and know that it will come back in some time.

[Crptomagma]

Bitcoin is a nice currency with lots of advantages and like we all know anything that has advantage have disadvantage. Bitcoin is surrounded with lots disadvantage and among them I will like to highlight the High fee in time of transactions and also the irreversible aspect in transactions.

Irreversible transactions: bitcoin is known for it’s irreversible transactions, meaning bitcoin sent to a wrong wallet can not be recovered. How good is these? When we all make mistakes and sometimes out of stress or pressure we forget ourselves.
High fee: it’s almost normal to us now because it’s continue to pop up

[farrellronald]

everything has a disadvantage. that is impossible for anything in the world to be perfect. Bitcoin disadvantage for governments is that it can be easily used in any place and there is no regulation about it.

[ekeh]

Bitcoin is a movement, which every investors need to understand, before buying. And the biggest mistake is to buy when the price is extremely high, which it will take more time to sell for a profit, secondly the big mistake of disadvantaged of bitcoin is base on exchange that is not more secure, with a weak password.

[proTECH77]

Here are some of the the disadvantage I notice over 3 year on bitcoin:
1) Dumping: since bitcoin is a decentralized currency that is not control by the government, it would have been pumping on the time not to cause trader worry about their trading in the market .
Digital: many uneducated people like to have interest on bitcoin because it is a digital currency is causing them not to have access on bitcoin platform. Some cannot read and write but they can speak very well if it come to exchange of words but they find it difficult to make use of bitcoin because they cannot read and write.

[sapnu]

The biggest disadvantage I noticed on bitcoin is pump and dump. Many trader will be busy with their trading hoping that the price has increased for them to supply to market but the next thing is to see the price has fall down.
No investors will be happy, see market decrease because of some coins they are holding for a long time. Few weeks ago bitcoin pump very well, that make some investors have hope that it will still go higher before they can sell in the market. Over few days now the price is gradually decrease which many trader don't want to use their eyes see market decreasing.

That is the nature of cryptocurrency. The volatility of its price is normal so before you invest in a particular project or buy some tokens, you should understand that the price will dump or pump anytime since there are many transactions happening worldwide that may affect the price of a certain token. I see some disadvantage of bitcoin is that the fees are getting higher once the price rises.