Topic: What are some disadvantages of BTC? - page 23. (Read 7924 times)

For me. I think there are no disadvantages of bitcoin. Bitcoin is made to make the delivery of money very easy using digital cryptocurrency such as bitcoins. Although the transaction of bitcoin is not that fast , it helps us create a new generation of creating an easy way to make the payment more easy.

According to me there are no advantages of bitcoin because bitcoin is here only to help people and make their future bright; bitcoin is decentralized cryptocurrency and help people to double up their money which was invested before sometime in bitcoin.

Some of the advantages of Bitcoin is that it is not stable, its value keeps changing from time to time. Sometimes the value of Bitcoin is high then all of a sudden it will goes down. Also, in some countries bitcoin is ban so others are not allowed to use it. Also it is viotale.

Volatility, security, scams, hacks, illegal transactions, dark web, anonymity were termed to be the common disadvantages of bitcoin. These are the mistakes leading to great loss and most of the time it happens due to the careless of the users. It can be overcome by the users attention.

Mining bitcoin is very difficult, that's what causes dissatisfaction in finding bitcoin. Because of the difficulty of finding blocks so high, it takes great effort to find them.

i think some the disadvantages of the bitcoin is the price of the bitcoin is not in fix and i don't know how the bitcoin increase or decreases. or i am the one who didn't know how the bitcoin fall and rise hehehehe

There are some disadvantages:                                                    - Most people don't  know payment in bitcoin.                       - The transaction system is still a long time.
- Some countries ban the usage of bitcoin.
- Lose your digital wallet or accounts so bitcoin is gone.
- The price value keeps  changing from time to time.

Any kind of think have a Negative and positive site. If we have not a negative and positive site we are not came in this world but bitcoin have a negative and positive . it is if you lose your whole money so it is bad for your life so don't put your money in a one wallet.

its weakness is only one ...
many do not know in detail what bitcoin is.

One of the prime disadvantages of Bitcoin is once the Bitcoin is lost or disappear, it is very difficult to recover to store back in the wallet.

I think there are huge fees when it comes to the microtransactions that make it less preferable mode of payment for the low-cost transactions and I also fear that people might not use it for paying for the goods and services in the offline markets as average daily expensiture is about $2 to $30 so fees would make a trouble. We need to find a concrete solution for this issue as soon as possible.

For me the biggest disadvantage of bitcoin is the often change of its price.
Sometime its fall down, so the tendecy of the bitcoin users sell their coin.
That is called panic selling.
And the transaction fee is so high.

Some disadvantages of bitcoin are :
- High transaction fees
- Slow transaction confirmation
- Highly volatile
- Security risks
- Privacy

Bitcoin is an online cryptocurrency, no internet connections no transactions, if bitcoin is use to purchased in a store with no internet,it cannot be process,these are few disadvatages of bitcoin.

bitcoin dont have form, it just virtual coin. not all people will use it, so it can be popular in all in this world.
unstable price is one of other disadvantages of bitcoin, but we can handle it

You can't say in truth that there are no disadvantages to ANY system, that is a form of bias A disadvantage of Bitcoin is: Confirmation time of 10 minutes would greatly slow checkout for large purchases in shops, risk of double spending if they left the store instantly is high.

Small block size inhibiting transactions, transaction fees too high for 'cup of morning coffee' purchases in fact higher than many bank fees for some transactions (BCH, LTC and NEM attempts to solve this).

The need for users to be responsible with their keys, which most will not be. A few in my college laugh at me for the idea of hardware wallets yet keep £4 - 5k on an exchange wallet.

There are many advantages too, such as trustless, no censorship, essentially digital cash, no worry to the merchant about chargebacks (as an online shop, i closed shop due to this very problem, even a single customer charging back can cripple the cashflow of a small business. I for one as a merchant would love irreversible transactions, just like cash, provided you can trust the merchant. For speed of confirmations, though Litecoin and NEM are superior in this regard. For throughput, BCH is.

The scaling problem is going to cause problems as there is no simple solution. Do we want the blockchain as a worldwide payment system or a settlement layer? Try processing the volumes of visa and mastercard using the bitcoin code, and you may just find blocks of several hundred megabytes, the blockchain size would be insane, leading to the need to somehow prune it.

Unstable price is a current disadvantage, too. I personally think the most stable asset to secure assets is silver, gold being at an all time high, higher than platinum and bitcoin all over the place. If your your average Joe blogs, the safest investment is a permanent roof over your head = home ownership. Whatever the fluctuations in the housing market, once its paid, THAT is your security.

Bitcoin is good as part of a diverse portfolio, however. Certainly gave me a better return than savings in a bank

Another downside is always focusing on the 'community' aka forums surrounding a coin and decisions which are made, when practically 99% of users won't even touch a forum about their currency, they want to use it as just that, a currency. Most who use it havn't a clue how it works, be it the fiat banking system, or Bitcoin. Wallets and systems will need to make it easy and simple to use, and secure. Using a secure enclave on modern devices to store keys is a must.

Actually there's nothing disadvantages in bitcoin it's depending to people on how will they use bitcoin. Me? Probably using it in a good way and not thinking to use bitcoin to scam people's lol. Bitcoin disadvantages are just high fees and a little bit slow to confirmed the TXID

Price volatility is a major problem that's why everyone is very sceptical with bitcoins. Also, this is the reason why no one is adopting bitcoins as a main medium for purchase of most items. Transaction fees of bitcoins are also very expensive that's why no one is investing much on bitcoins. A lot of cybercriminals are using bitcoins for their evil deeds because of it being untraceable.

What is the disadvantage of bitcoin is that it is dependable in internet, without internet you can't access anything about bitcoin but that is just the one disadvantage I can see for bitcoin.

The biggest disadvantage of bitcoin, I think is the transfer speed problem, sometimes block confirmation time to tens of minutes, I have a transfer took a few hours to the account. And one is the cost. It's a little bit high. That led to so many forks now