Topic: What are some disadvantages of BTC? - page 4. (Read 7897 times)

I can say the scalability issue and governance model is the main disadvantage for Bitcoin and because of that new emerging coins like IOTA and NEO and others are able to gain massive surge in the recent days.

News can easily affect the price btc. Good or bad the price of btc just goes up or down. Transfer fees now are just so high. You need to get a big amount to be worth it. And it takes time to transfer funds. Hopefully these problems can be addressed in the near future

Disadvantages of bitcoin like hackers that can steal your bitcoin, You invest in bitcoin and the price its not going up and the worst of all the bitcoin price is going down slowly then price is stable in many days, then you sold your bitcoin because of your emotion mostly newbie did this. And were happy when bitcoin price is increase but the transaction fee will increase also.

I think the biggest disadvantage of Bitcoin is fees. You see it everywhere these days but a lot of people are complaining specifically about sending smaller amounts of coins and having to pay a fee which is higher than what they want to send. The biggest problem that BTC must solve is transaction fees.

Long term transactions and expensive taxes

Bitcoin is like a double-edged sword. It may be turned to treacherous uses if it is not appropriately handled.  it means that bitcoin has disadvantages and advantages also, It will depend on the person how he or she uses the sword. However, the bitcoin disadvantages are most happen in our life when we exchange small amounts, and the free is not suitable for the price. Speaking of the price or the value of the bitcoin is so capricious.
 

90% of bitcoin have advantages over 10% disadvantages, I can only tell few, like only few establishment accept Btc as payment and a Few country who acknowledges it, it needs strong networking to spread this all over the world.

hallo, here I am trying to post some of the weaknesses of bitcoin. the first, the unstable value of Bitcoin, because bitcoin is a speculative currency. until now not enough companies that offer the purchase and sale of products with bitcoin as a means of payment.
the second is Very risky lost or stolen. As a virtual currency, bitcoin is stored in the form of digital files or known as wallet files. In use, wallet files are similar to the cash storage function wallet, however, the wallet files stored on the hard disk of your electronic equipment are very vulnerable to damage. In addition, viruses that attack your hard disk can also make stored bitcoins just disappear. The digital wallet can also be hacked and stolen through malware. Not to mention the risk of hard disk content of bitcoin owners erased accidentally. More painful than cash, you lose all the contents of the wallet without being searchable to where it goes. and the latter used as a Money laundering Tool by some persons, The use of bitcoin currency is not controlled by government or authorized financial institution. As a result, such conditions provide great opportunities for criminal activities such as money laundering and tax evasion. Lack of government control also makes bitcoin seem worthless. In addition, some financial observers consider bitcoin as illegal currency because it is not encouraged legislation lawful in the eyes of the law. okay guys, it's some weakness of bitcoin in my opinion, if anyone knows the weakness of bitcoin other than that I post, maybe can share in order to be useful for me that still newbie.

the disproportion of bitcoin can be reduced and the value can be increased and not yet known so much bitcoin when not yet approved in other countries but overseas approve and legit on their bitcoin many bitcoin consumers not just because big its value but many can use bitcoin

In my own opinion, there is no disadvantage on cryptocurrency and bitcoins should be treated just like fiat. Fiat can be used for illegal transactions and cryptocurrency can be used too as well, so why they are saying that it is bad because they are just both working at the same way while bitcoins is helping other people to sustain their daily needs so they should not ban cryptocurrency in their country.

We all know that the main drawbacks of bitcoin now are narrow scalability, slow and hovering transactions and high commission fees in carrying them out. These are the shortcomings that have already overgrown and must be solved first and without which bitcoin can not normally exist and grow. Other drawbacks of bitcoin include its relative anonymity and confidentiality. It is necessary to close for the public review the amount of bitcoins on the purse, this information is superfluous and allows only hackers to select objects for their attacks on wallets.

Yes, all of us almost stick to what bitcoin could give unto us. For the long run that I have stayed in here. I have seen how bitcoin managed to change someones life. Also, the way people manage to speak or interact. As time goes by, even its negative effect. The essence of being self centered makes people got a sense of urgency in wantinf its price to rise for their own goods.

From the birth of Bitcoin to the present, everyone is unanimously discussing whether bitcoin is a scam, bitcoin worthless, etc., but the price of bitcoin has risen in the midst of countless doubts, believing that voices of doubt will continue with bitcoin As we all have patience, Bitcoin will get better and better

Some of the disadvantages of bitcoin is the anonymous transaction happens  in bitcoin. It can't be tracked. That is why some users abused it. They used it to buy illegal drugs and do illegal transaction in the blackmarket.

The absolute disadvantages of the bitcoin are when the value goes pump and dump. The most unfortunate that I already experience is a slow transaction to my others wallets. Some of people take advantages of bitcoin they use the bitcoin on the illegal operation or criminal activities. 

The advantage of bitcoin is so good but there are some disadvantage of bitcoin like it can use fraud and criminal activities and scanning those QR codes means anyone can anonymously steal your bitcoin. Masking ownership means no audit trail to recover a thief's digital fingerprints.

We all realize that bitcoin is practice and easy to use as alternative payment mode but not to replace local currency. Besides this this practical use bitcoin operation is also not safe 100 % per cent.our wallet can be hacked and stolen by hacker.Also Using bitcoin can be misused by terrorist to collect money and some other people can use it for money laundry purpose.

Bitcoin is just like fiat or rather called it as a credit card since bitcoin is a digital currency then you can use it to buy goods and different products but it can also be used for illegal transactions and the government are avoiding this problem.

There's a lot of advantage of bitcoin that helps us to make our life easy and make our life efficient but if there's advantage there is also a disadvantage. So here are the disadvantages of bitcoin.

1. It is not accepted worldwide, some of the countries ban bitcoin because they saw it as a threat.
2. The transaction may be transparent but the person you're going to transact is anonymous and it might be a scam.
3. Some of the local stores, restaurants etc. didn't consider bitcoin as a mode of payment.
4. The transaction fee is high.
5. It can be used in illegal works such as deepweb or blackmarket.
6. Can be used to launder money.
7. There is no buyer protection.
8. Wallets can be lost.

There's a lot of disadvantages that we didn't see but here are just some of the disadvantages of bitcoin.

Here's some disadvantage of bitcoins.

Transaction  fee : With the increase of price transaction fee also increase you have to pay highly fee.
Anonymous: Bitcoins is Anonymous. Nobody can trace your transaction which helps criminals to sell drugs, or some illegal activities
Can be hacked : Your wallet can be hacked easily. Mostly people use online wallets and save their password on the browser which can be steal easily