Topic: What are some disadvantages of BTC? - page 2. (Read 7897 times)

Bitcoin can't be reach if you are on a place with a very low internet signal. Bitcoin can't be used in any country because on some it is illegal. It has a very unpredictable value which can betrayed us any moment for we risk our money for it.

In my case, I'm not having troubles in using and trading bitcoin now. Actually, i think that my goals are slowly achieved. Sometimes there may be a small thing that I may consider it as disadvantage and that is the indirect cash.. but it is only a minor  issue. But there is a purpose on that and I know it is for security of trades and purchases.  Considering all the things I like the way bitcoin treat the people and soon it will pump up more and more in the future and a number of people are trusting bitcoin..

I agree with you, for example we buy bitcoin today, hoping its price will rise but it drop drastically. I am also still worried about the total supply of bitcoin that only reached the limit of 21 millions. how the next time the supply in the market runs out? whether there will be more supply, or bitcoin ends on the 21 million supply.

Some of disadvantages of bitcoin include the fluctuations in its value. While it serves as an advantage because the amount of bitcoin can increase and decrease significantly, it also serves as a disadvantage because we dont know when will this happens and the market of bitcoin doesn't have a pattern or a cue when will it's value increase/decrease compared to stock market where analyst have multiple formulated equations to compute for the increase/decrease in the value of the market. Another disadvantage is since bitcoin is getting popular, there is also an increase in number of scammers in the community, so its becoming difficult to find a way where to productively earn a bitcoin.

one of the drawbacks of Bitcoin - This is a huge transfer fee on the stock exchanges for projects that take a very large amount of money

Bitcoin transactions are slow and require high fees.
Its prices are volatile and volatile. In countries around the world, few stores support bitcoin payments.

the disadvantage of bitcoin is when his price deacrese you lose your money for example if you invest 500$ in btc you can't find the same value of your money when the price of btc is low

The only disadvantage of bitcoins is, it can be used by everyone like those people who are trying to do some illegal transactions like drug laundering and since it was a digital currency then it will be really hard to trace and this are the problems that governments are avoiding in different country.

Bitcoin is virtual money on the other hand bitcoin does not exist physically, so, huge thing which are related to bitcoin happens through the internet, therefore, bitcoin is used pay an advance for drug, gun dealings, not only that but also bitcoin scams ,gambling happens hugely. Those are the some disadvantageous of BTC.

the weakness of bitcoin is that we can not buy goods or objects such as cars or motorcycles with bitcoins but must be melted first in the form of money that means unstable bitcoin

Scaling and high transaction fee's. If you want to be able to compete with real payment systems then you need better specs.

I agree to that. The network of bitcoin is not that big like the other cryptocurrencies to have a smooth transaction and that is why a lot of people are not that interested to use bitcoin as a mode of payment because they know that they will not be able to do a good transaction if the network of bitcoin cannot handle a lot of transaction or in short, congested.

    If BTC has advantages there is disadvantages also Bitcoin is the worlds first decentralized , digital, virtual currency  and is gaining more popularity . Even though it is volatile people are not aware of Bitcoin so they don't want to take risk, only a small number of investors are involved in it . Bitcoin businesses are new and there is no insurance in it and there is possibilities of government interference. The government will not take your Bitcoin but they can ban Bitcoin these are the disadvantages of BTC.

First of all, BTC is not for everyone right now because of all the FUDs coming from the government and media itself.
And some of the ICO's scams are making crypto's image look like a dirty piece of technology. It would scare most of the people who doesn't know a thing about it.
Only people on our generation or at least people who have access to computer technology can perfectly understand, utilize the use of BTC.
It is not perfectly secured and you can be phised or hacked and all of the new modus operandi that the criminals are using online.
Some investors and merchants doesn't see crypto as a perfect mode of transaction or investment. It is not widely accepted by most and they will prefer to do stocks/forex, or bank investment which is for me a scum of the earth. There is not such thing as bank investment, lol. For crazy rich people it could happen.
Miner's fee, you can call it disadvantage but for me it's part of the process. The Data transfer speed and the crazy fee differences and nodes.
The whole system is not yet perfect, but i am positive and i think that it is improving. But sometimes the government and the banks having all of the hearings is making me feel uncomfortable. Because i have put my hard earned money on BTC and they are trying to manipulate us again. Crypto should be regulated, yes but it should not be manipulated. It is decentralized and it is for all of the people who appreciate the use of it.

I think we also know disadvantages, one and most obvious is the speed of transactions.

I think the biggest problem is that bitcoin is technically not up to date. The block size is to small. You see in the past what happends when the are a lot of transaction. The whole network is so slow and you cant use bitcoin anymore to transfer because it take to much time. Trading is impossible, and without trading, the biggest part of the use for bitcoin falls away. So the community has to do something that bitcoin can keep up in the future with other coins.

I am using bitcoin for a long time now and I don't think that this is the disadvantage of bitcoin. I am using a certain bitcoin wallet and I can transfer bitcoin from other wallet almost instantaneously, as long as it is the same wallet. If I will be asking what will be the first problem of bitcoin these days, that will be the people who accepts it in the market and in the real world.

The disadvantage of btc is easy to duplicate in the different fakes site that offer fake mining of bitcoin. These illegal activies affect the name of btc because other people thinks in btc is a scam not earnin that's why they stop investing in btc

Lack of awareness and knowlegde of other people about the bitcoin is one of the reason why you cannot buy good using bitcoin. Not all people can relate and understand what the bitcoin is. Its instability is also one of its advantages.

In my own opinion, there are some disadvantages of bitcoin. One of the example is that there are many hackers in bitcoin that can hack your account and can rob your profit when you invest money. Another thing is in other country, they treated bitcoin as illegal. There are some chances that the value of bitcoin is falling very low and many investors change into altcoin. Another disadvantage of bitcoin in students is some students don't focus on their studies but instead they focus on bitcoin which is wrong. Another is some employees change their profession and jobs to bitcoin.