Energy Consumption Puts Bitcoin at a Mainstream Disadvantage
Miners are becoming the principal consumers of energy in the growing bitcoin ecosystem. As each algorithmic problem becomes more and more complicated to solve, more machines are working longer hours in order to birth the next coin. Moreover, these processes are incentivized by rewarding miners whose block is accepted, with even more bitcoin.
Topic: What are some disadvantages of BTC? - page 21. (Read 7950 times)
Some of the advantages of Bitcoin are also its disadvantages, like Decentralized and Anonimity. Due to it's decentralization some of the powerful people took advantage of it since they can't track all the transactions, they can freely do transact under the radar of the government. We might not know that some of these people are financing some terrorists and planning some attack againsts the Government.
If bitcoin has its own advantages then its not shocking to know that it has disadvantages also. Bitcoin has a vey unstable value which makes the investors feel hesitated in investing. It is a little bit complicaed compare to fiat money because it requires computer/phone, digital wallet and Internet first before operating. It's transaction fees are quite high. It is also prone from hacking since this is existing in the cyberworld.
But actually, I'm not even bothered with these disadvantages because only its advantages really matters for me.
But actually, I'm not even bothered with these disadvantages because only its advantages really matters for me.
We all know the advantages of BTC, but what are some of the disadvantages??
Other store don't have btc payment 
The biggest downside I do not like about bitcoin is the speed of the transaction is very slow. 2 weeks ago it took me nearly 3 days to transfer 0.1btc to my friend. If bitcoin improves on this then it will definitely be great.
Whoa!!! after reading this thread I'm thinking about selling all my bitcoin. Okay... So maybe it's not all perfect. I'm hoping that lightning network is as good as they say. My biggest gripe lately has been transaction fees. I'm paying between $3-$9 pretty consistently. I'm super happy if I get a $3.00 transaction fee. If people had to pay that while writing checks, it would be the end of checks hands down. Yet here we are falling in love with a digital currency with so many fatal flaws. urgh!
Some disadvantages in bitcoin one is internet connection because no internet no transaction success second is electricity we cant connect the internet without electricity so without this two we cant communicate to other country and to the people to transact our business with them .
Delegation risk
Unless you know how to control Bitcoin transactions, they may have the idea of diverting the cryptanalyst. Especially if - despite the above-mentioned shortcomings - it will start to gain more popularity. The chance of this is small and of course the BTC delegation will not completely stop using it, but will effectively limit the range of available goods.
Unless you know how to control Bitcoin transactions, they may have the idea of diverting the cryptanalyst. Especially if - despite the above-mentioned shortcomings - it will start to gain more popularity. The chance of this is small and of course the BTC delegation will not completely stop using it, but will effectively limit the range of available goods.
The expensive fee is one of the biggest disadvantage of bitcoin because with that expensive or high fee, it will make the other people hesitate in using it because it is too high for an average person to use especially if they are just going to use bitcoin to transaction for a minimal or average amount of money. I hope that in the future, the fees will become lower so it will not become a problem for bitcoin to continue going to the top and to become fully successful.
You mentioned the following two disadvantages 1 bitcoin requires internet connection
2 decentralization of bitcoin in the whole world
So you are 100 % right but now adays the technological advancement is in full swing and new devices has been introduced in the market like Evovingle and other source of internet by which you can minimize the problem while the decentralization is in itself a very good thing for investment point of view.
The current drawback of btc is that the transfer fee is too expensive and transaction time is too slow. If it is really a liquid currency, it should have the conditions of fast transfer and low transaction fees.
We all know the advantages of BTC, but what are some of the disadvantages??
There are some Disadvantages;
1. You can't send transactions without connecting to the internet.
2. Slow transaction confirmation.
3. Security risks
4. Some countries ban the usage of bitcoin.
5 We can also say that anonymous people who used it to illegal things will not be identified.
We all know the advantages of BTC, but what are some of the disadvantages??
There are many advantage of bitcoin ,but also it is have an disadvantage too that can be a problem someday to the bitcoin. Number one is it being alive only in the internet or online. Maybe if happen that there are no electricity in one country it is difficult to handle or access in the bitcoin because it is only alive in the online. The other dis advantage that o can see that can be a problem too is too being decentralize of bitcoin yes now it is good but what might be happen if have an issue in bitcoin ? Whose gonna fix it ?
In bitcoin, there are common shortcomings of the crypto currency and the drawbacks inherent only in it. To inherent drawbacks bitcoin can be attributed for the time being the slow execution of transactions on time and large commission fees for the transaction. To disadvantages bitcoin as kriptovalyute in general, you can relate its relative anonymity, which with good tracking makes it possible to identify the identity of the user bitkoynom. Some of the shortcomings of the crypto currency, including bitcoins, include its high volatility. However, I do not consider this feature of the crypto currency as a drawback. Volatility is constantly reviving the market and provides an opportunity to actively trade on exchanges. Simply, this feature is not for the faint-hearted, who at every sharp drop in bitcoin's rate in a panic try to get rid of it.
Bitcoin can be use in illegal ways like in gambling just to earn and it can also cause addiction to many people
You mentioned the right thing that it needs an internet connection which is directly affected by the electricity or any other natural calamity so in fact it is the disadvantage of bitcoin I think that some research may be done on it for the provision of the forum without the internet connection. 
Its all about online noo offline method so far?
You are right that the transaction fee of bitcoin is very high but I think that if the profitability of bitcoin is compared with the fee the it will be very easy for to assist it so I don’t think so bitcoin is unique currency which make poor people very rich in a very short period of time and I am looking one disadvantage which is very common that is the banning of ICO like in china which affecting the price of bitcoin very badly. 
For me the only disadvantage of bitcoin is being not accepted in other country, for that we can't send bitcoin to our family that live in the said country. I hope soon it will become accepted worldwide so that other people will use it and know that bitcoin is one of the good digital currency.
We all know the advantages of BTC, but what are some of the disadvantages??
Well one that i can think of is that it is still not perfectly anonymous. Personally i'd like to see bitcoin evolve into the future into something like XMR with essentially in built coin mixing. This is probably not necessary but rather an add on.
Another thing is that, fees are often high.
Also, blocks are 10 minutes on average in between so that means you're probably not going to be able to get stuff irl instantaneously without the merchant having to trust you.
We all know the advantages of BTC, but what are some of the disadvantages??
I think the disadvantages of bitcoin to us is more people who are employed to their work are quiting their job,because they know that they will have much many or salary they will get from Bitcoin so thats why they leave their job, and speaking of this their talent cannot be enchance their knowledge and hard-working that they do to achieve their tracks in life will be deminish in just a blink of an eye. 
We all know the advantages of BTC, but what are some of the disadvantages??
lol, everything.
doesnt work without connectivity
transactions lower than the standard fee are not feasible to conduct
no refundable transactions without incurring fees (no undo, even if both parties agree to cancel)
hard to spend btc directly for normal consumer goods/services without converting to fiat
security is much more difficult due to general unfamiliarity with proper cybersecur
confirmation of funds is not instant, like handing someone cash.
value can change suddenly and drastically
there are so many more. btc is far from perfect, but when you escape the digital economy, it suddenly becomes much less practical.
I would say my only turnoffs at the moment are inter-wallet charges which can be quite high
Jump to: