I think there is only one disadvantage of BTC is transaction speed.
No the biggest disadvantage of bitcoin is enternet access without enternet you cant transact offline unlike fiat money that you can transact anytime anywhere in the world
Topic: What are some disadvantages of BTC? - page 33. (Read 7950 times)
No the biggest disadvantage of bitcoin is enternet access without enternet you cant transact offline unlike fiat money that you can transact anytime anywhere in the world
Bitcoin at the moment does have the scalability for mass adoption. With the block time being too high to be affective for a larger user base. Also the transaction fees for bitcoin are very high and I would love to see them drop in the future.
Transactions are slow, it's currently taboo to a large number of people and communities, it's under the threat of banning by China, which may kickstart a domino effect, albeit that's a very unprobable scenario. Amassing bitcoin is usually easy but it can be also be tedious depending on the way it's being achieved. To be quite honest it's harder to list negatives than positives for bitcoin as the good outweights the bad in my honest opinion.
I do not worry too much about bitcoin being banned, unless that happens all over the world at the same time I do not think bitcoin is going to be effectively blocked and even if many people drop bitcoin many other people like us are going to keep holding and make money that way. 
I posted a similar thread about this subject.
Basically, depending where you live, you won't be able to use it to pay stuff (unless online).
It's not 100% safe, you can still get your wallet hacked. Also, it's a volatile currency. It can plumber 30% of it's value in a day.
I agree, bitcoin was not still legalized by the government so we need to convert it first before we used. When it comes to wallet it was not connected to bitcoin the problem here was the wallet that you are going to used so you must be careful on choosing. One also disadvatages that I see was in the transaction fee. Many people are complaining it that may cause negative effect on bitcoin because of the hugh transaction fee. Basically, depending where you live, you won't be able to use it to pay stuff (unless online).
It's not 100% safe, you can still get your wallet hacked. Also, it's a volatile currency. It can plumber 30% of it's value in a day.
We all know the advantages of BTC, but what are some of the disadvantages??
I think bitcoins biggest disadvantage according to me is that bitcoin is totally dependent on Internet means if you do not have a stable Internet connection one can not do the bitcoins job. Bitcoin storage, bitcoin mining, bitcoin transfer, bitcoin transaction all are dependent on Internet. Without all this is impossible. So I think this is the biggest disadvantage of bitcoin. Bitcoins other disadvantages is that transaction are nit dependent on banks or third party so the person is not answerable to anyone regarding his expenditure of bitcoin and this is threatened, that person can may use money for making bombs or for doing illegal activities. These online transactions can make the chances of transfer of information from one place to other people may do the wrong activities by it. People can do hacked the bitcoins users account as all these are based on Internet as stealing online is bit easy than physical money stealing. We all know the advantages of BTC, but what are some of the disadvantages??
the weakness of bitcoin in my opinion is not yet able to be used by every country, including in my country bitcoin not yet legal, only certain country that legalize bitcoin, and time of its slow confirmation if in use for payment.
Transactions are slow, it's currently taboo to a large number of people and communities, it's under the threat of banning by China, which may kickstart a domino effect, albeit that's a very unprobable scenario. Amassing bitcoin is usually easy but it can be also be tedious depending on the way it's being achieved. To be quite honest it's harder to list negatives than positives for bitcoin as the good outweights the bad in my honest opinion.
For me, a disadvantage is that without internet, we can't do anything with the bitcoins. We have to have internet connection for the mobile wallets or for the computers to deal with the bitcoins.
Why is it not possible to do a transaction between two mobile devices using the same mobile wallet app without internet connection via NFC and when internet is available again, the two devices can send the transaction to the blockchain.
Why is it not possible to do a transaction between two mobile devices using the same mobile wallet app without internet connection via NFC and when internet is available again, the two devices can send the transaction to the blockchain.
There are not so much disadvantages of bitcoin but the most one is it is connected to the internet and without internet it can’t be accessed and its existence is up to the existence of internet. There will some other as well but this one is very common and easy disadvantage of bitcoin.as bitcoin is very volatile a slight change bring in the value of bitcoin.
I think there is only one disadvantage of BTC is transaction speed.
Though bitcoin is becoming popular day by day, achieving new higher goals it many disadvantages.
- Its decentralise nature making it more and more volatile, as a result many people are not willing to invest in it.
- Mobile wallets are necessary for its trade, all cannot afford them, if we forgot our private key or data get crashed then all bitcoins become lost in nature.
- It comes only in digital form, so people fond of physical currencies/ investments ignore bitcoins.
- Its operation needs minimum infrastructure like mobile/PC, electricity, internet without which your bitcoins are useless. In the absence of any one of these you cannot make a transaction.
- Still bitcoins are not universally accepted currency.
- Bitcoin mining is quiet expensive process due to its specialised infrastructure and its maintaince cost.
- Its decentralise nature making it more and more volatile, as a result many people are not willing to invest in it.
- Mobile wallets are necessary for its trade, all cannot afford them, if we forgot our private key or data get crashed then all bitcoins become lost in nature.
- It comes only in digital form, so people fond of physical currencies/ investments ignore bitcoins.
- Its operation needs minimum infrastructure like mobile/PC, electricity, internet without which your bitcoins are useless. In the absence of any one of these you cannot make a transaction.
- Still bitcoins are not universally accepted currency.
- Bitcoin mining is quiet expensive process due to its specialised infrastructure and its maintaince cost.
Currently i would say the speed of transactions are slow, mining takes a lot of time.
Fortunately that is going to change with the lightning network transactions are going to be a lot faster, especially those microtransactions that are very costly at the moment because of the mining fees, so I think bitcoin is improving in this aspect and we are going to see major adoption as a consequence of theses changes. We all know the advantages of BTC, but what are some of the disadvantages??
the weakness of bitcoin in my opinion is not yet able to be used by every country, including in my country bitcoin not yet legal, only certain country that legalize bitcoin, and time of its slow confirmation if in use for payment.Bitcoin has not been fully used as a transaction tool, it still needs refinement. Especially if living in a country that has not legalized bitcoin, tastes like vegetables without salt, high value but can not be used in my own country except with online purchases.
We know all about advantages of bitcoin and also disadvantages. There is a lot of advantages but as well as disadvantages is also there so we need to be careful and clever to invest in bitcoin. There is a lot of disadvantages like extremely expensive accounts to get and also very difficulties for beginners and also need money to invest etc. 
scaling is hard and transactions are more expensive than a regular database, but it has always meant to be that way. It is a trade off for security and censorship resistance.
As we all know the prices of bitcoin continuously keep on fluctuating sometimes it very profitable sometimes it gets to lowest.Moreover bitcoins are not acccepted all over globe so it’s quite difficult to make transactions where bitcoins are not accpected, bitcoin consist of huge amount of value so for transactions of small amounts, it may cost more than the actual price so this is the disadvantages of BTC.
The price fluctuation is an advantage for traders it is only disadvantaged for a short time investors. i think now bitcoin is started to accept in all business I don't know in another country but in my country, the BTC exchange sites will allow us to pay our mobile bills and buy movie tickets and other stuff by paying direct bitcoins. 
The biggest disadvantage is that its price to FIAT is so very volatile. That said - the course of history has proved that if you buy and hold you will be fine.
We all know the advantages of BTC, but what are some of the disadvantages??
Almost all the advantages of Bitcoin can also turns out to be the disadvantage, such as the way Bitcoin make it easy for transfer of funds from one country to another which may encourage money laundry, its anonymity is another issue, Bitcoin is not control by any government may course inflation and deflationary pressure in the economy.
The problem of scaling bitcoin network has not yet been solved, the problem of excessive state regulation, xxcess control, in a sense, reverse side of bitcoin legalization, sharp bitcoin rate increasing recently.
As we all know the prices of bitcoin continuously keep on fluctuating sometimes it very profitable sometimes it gets to lowest.Moreover bitcoins are not acccepted all over globe so it’s quite difficult to make transactions where bitcoins are not accpected, bitcoin consist of huge amount of value so for transactions of small amounts it may cost more than the actual price so this are the disadvantages of BTC.
Jump to: