What do you think is the biggest disadvantage of bitcoin?

[worldofcoins]

I personally feel that utilizing illicit bitcoin is a major weakness and that is the motivation behind why numerous nations don't acknowledge it.
At the point when we send money to somebody for criminal operations, the bank makes a move promptly and capture you.
The reality is the bank has the capacity to follow fiat exchange and know where our cash goes.
Lawbreakers are very much aware of it and they utilize bitcoin so banks can not way to deal with it. Else I never observe bitcoins has any detriment.

[rokon1234]

In my opinion volatility of bitcoin is one of the big disadvantage.For this reason many traders are lose their money.If bitcoin volatility slow down then everyone will feel free invest on bitcoin.

[pakhitheboss]

In my opinion, the biggest issue with Bitcoin is scalability. Bitcoin was created to also perform as a payment system but with its scalability issue, it has now become only an asset. People are investing in it to make money more than using it as an alternate payment system. 

[ivankoh]

As all know, the disadvantages of Bitcoin are highly paid fees, late confirmation, unsecure main systems, highly volatile, compared by many, etc. Having that it is the number one digital currency but offline it has a more complex situation. In my sense, the most important disadvantage is scams in BTC.

In my opinion, the blockchain technology that bitcoin offers increases security, but in contrast, the risk of not inheriting assets.  The acceptance of bitcoin or cryptocurrencies means your survival rate matters most.  The risk that you and the Transfer Gas is born from cannot be attributed to those characteristics.  Of course, the higher the value of bitcoin - the higher the transfer gas.  This attribute should accept.

[Vinaa77]

Now, when there is an increase in bitcoin, the transaction fee will automatically increase. even though bitcoin is in concept for payment, but if the transaction is small-scale it requires
a fee of at least $ 3-10 This is a high cost. In addition, the volatility is high enough to make trading on bitcoin currently has a high investment risk category, apart from many people who
like the voting because it is suitable for trading in a short time.

[poclerk]

In my opinion, the biggest issue with Bitcoin is scalability. Bitcoin was created to also perform as a payment system but with its scalability issue, it has now become only an asset. People are investing in it to make money more than using it as an alternate payment system.

[PhoenixZephyrus]

Definitely transaction fees for me. For a transaction to get confirmed within reasonable-enough times to be able to use it for real life payments, the fees that needs to be included in the transactions is pretty high, and it isn't very feasible to do small transactions that are possible to do using fiat. Sometimes, I've seen lots of reports on the forums of accidentally carrying out transactions in which the fees was as much as 35% higher than the original amount that they were willing to transact. That's a major problem and I don't see any way of resolving it without the use of the Lightning network, which has its own slew of problems, mostly regarding fraudalent transaction possibility and over-reliance of the network on fund-concentrated nodes. Currently the bitcoin network, as it is, doesn't encourage small transaction amounts, due to the mining difficulty being so high already and ever-increasing.

The mempool just gets so much saturated when many transactions are going through, that sometimes even 1 single confirmation requires ~30mins, and usually 6 block confirmations are required for a transaction to get processed, so that takes a pretty long time, which wouldn't have been caused with fiat.

[pecson134]

I'm pointing out two disadvantage that possibly can affect bitcoin. Volatility and Flexibility. Bitcoin being volatile can be you biggest asset or greatest enemy because it would solely dependent on how you play the flow of the price so being disadvantageous or not would be case to case basis. As to flexibility small scale business can't still adapt to using bitcoin due to added transaction fees which will make the product more expensive than usual.

[FlightyPouch]

I'm pointing out to disadvantage I possibly can affect bitcoin. Volatility and Flexibility. Bitcoin being volatile can be you biggest asset or greatest enemy because it would solely dependent on how you play the flow of the price so being disadvantageous or not would be case to case basis. As to flexibility small scale business can't still adapt to using bitcoin due to added transaction fees which will make the product more expensive than usual.

In terms of flexibility, there are those exchanges that accept transactions without any fees and it is almost instant. The problem though is that you should be using the same exchange or mobile wallet. Coins.ph do that service so I don't think he is a problem if that is the wallet people are using. But still, transaction fees and transaction time is a problem to some.

[DarkDays]

I may be pointing the obvious here but the biggest obstacle to BTC and all the other crypto which leave the masses out is the volatility. The instability of the market worries everybody, I know we are far from getting this sorted but it is a no. 1 factor that an investor thinks about.

And, yh, the fees is another problem which is getting an in progress resolution.

Overall, there is still work to be done for BTC to become the biggest, stable crypto in the future, but atm it is what it is  can't be complaining much

[ghost424]

I never imagine the fee to become one of its disadvantages but seeing how fees right now are also achieving another ATH. Lol! However, people and other users can still say that Bitcoin is still another financial income generator and its fee is part on how we can transact using Btc's. Its a way to move our coins within the internet because its part of the internet and not part of any institution in the physical world.

[bosede1]

The point you raised as the fee issue I am also supporting the motion but for me the other disadvantage I see will not be from Bitcoin but from the holder not being able to hold long enough to before selling.

[Nhor1011]

Bitcoin has a lot of disadvantages such us internet and transaction fees.  Without internet connection or Mobile date we can't use bitcoin that's why it's difficult for people live in a remote areas to adopt bitcoin because they are lack in electricity supply, no internet connection and not capable to buy cellphone and other gadget that can be use for using bitcoin and other cryptocurrency. Bitcoin transaction fees are too high, and maybe it bitcoins value continue to increase ,the transaction fee for it will also increase.

[LimLims]

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

If i see the post of your this post in OP, then i am completely agree with you.
There are more masses present in the Earth who aren’t aware of BTCs.
We need to first educate them about this so that they will get to know how to use it.
Moreover there are still places which accept BTC as a mode of payment, but more services need to accept it.
The main reason for this maybe the Government who doesn’t still consider Bitcoins as legal.
Hope everything will be fixed soon.

[posi]

In my opinion volatility of bitcoin is one of the big disadvantage.For this reason many traders are lose their money.If bitcoin volatility slow down then everyone will feel free invest on bitcoin.

Then I will consider you being naive about the cryptocurrency market.
Bitcoin is not the only volatility coin and the volatility aspect of the market is also what makes a lot of people Millionaire this year. The two things every trader need is to make knowledge about the market and how to trade/invest profitably.

With that been said, the things I consider to be the biggest advantage of Bitcoin is the mining (CO2, heat and TPS) and black market activities which may somehow affect Bitcoin now that the institution is the major investors because some Banks or group that are not happy about the interest of the institution in Bitcoin may use it as their weapon.

[tinopener]

In the UK, tax is the biggest problem as you can't hold it in tax free investment accounts, and is therefore subject to Capitals Gains Tax.

Here is a typical story about a guy who made some money on Bitcoin, and cashed in just enough to avoid paying tax:

https://www.thisismoney.co.uk/money/investing/article-9151351/The-winners-literal-losers-bitcoin-boom.html

[ardentvolcanoes]

The point you raised as the fee issue I am also supporting the motion but for me the other disadvantage I see will not be from Bitcoin but from the holder not being able to hold long enough to before selling.

Holders have different point of views, most of the time those who don't have any idea and only investing due to friends or relatives advise

are the one who are losing patience, they usually sell whenever panics take over. Seeing that dumped are administering the market for

sure they'll be moving the same.

[kawetsriyanto]

Of course, Bitcoin has the disadvantages, nothing has no disadvantage in the world. Some of the disadvantages are (1.) Bitcoin has an unstable price. So, the value can drop suddenly if the demand in the market is getting lower. (2.) It is not secure enough to keep Bitcoin on wallets. We know there are too many hackers in the world to steal Bitcoin. They always know how to steal people's Bitcoin if we hold it online. (3.) It is no acceptable in all places in the world. So, you cannot use Bitcoin as a payment tool in all places in the world. There are still many limitations of using Bitcoin in many places in the world.

[gurunanakji777]

Bitcoin is not a good medium of exchange because of the high gas fee. For big transactions, fees do not matter much but for a small transaction, I would say it's not worthwhile because it will cost more because of the fee. I also think the same fee is the biggest disadvantage for small transactions apart from this BTC is still not acceptable worldwide legally there are restrictions in some countries.

[xcaret]

Bit coin is very hard to cash out of .
I mean how are you going to turn your bit coin into cash ?  There are so many fees ,by the time you get your cash you would have lost 20%  at the minimum .That's before your government taxes you on top of that.
The other alternative is to trade cash for someone you arrange to meet in a dark alley . Much like the dope deals we all have seen in the movies  . Except in the movies ,our hero gets his money or dope back from the robbers .