Although bitcoin has offered alot of success and handful amount of opportunities to people and has a core hand in making them richer but unlike other currencies it has some drawbacks also:
1. Fluctuating price
2. Built in deflation
3. No physical form
4. Wallets can be lost
5 Limited number coins available
1. Fluctuating price
2. Built in deflation
3. No physical form
4. Wallets can be lost
5 Limited number coins available
Drawbacks? Yes, that is quite possible because there is no such thing as a perfect innovation for as long as something is man-made and being utilized by humans as there is always that possibility of our human nature getting in the way. However, I don't fully agree with all the five drawbacks listed in here.
Let me talk about that in number 5. Limited number of coins is working right for Bitcoin because had there been an unlimited supply then it can just be another fiat money where any government can just order from the printing press. And Bitcoin will not be as valuable today had it not been because it is limited in supply.
Maybe some people are worried that because Bitcoin has a limited supply they might have a hard time looking for someone to sell his Bitcoin...would this be a possible scenario later on? That can also be possible but I am not worried on that as we still have the present to contend with. Currently, for as long as you the money to buy Bitcoin supply can still be found. This is in fact the reason why we already have many exchanges for Bitcoin right now.
