Topic: What are some disadvantages of BTC? - page 7. (Read 7950 times)
One of the disadvantages that bitcoin has, sinca i am new think its transaction fees i tried to do the faucet anf i find that the transation fee on fuacet was quite high, In addition the i think the flactuating price of bitcoin is also one of their disadvantages.
Everyone has known the advantages of bitcoin and I think bitcoin has some disadvantages such as: bitcoin prices that are uncertain (fluctuative), have no legal entity, anonymous, Not yet acknowledged the existence of Bitcoin in some countries, and very risky loss and stolen.
Maybe a lot of people think it's safe, but i think there's a bit of a disadvantage in terms of storing the virtual currency. you store your bitcoin in the wallet and then store it on your hard drive or other electronic equipment. so if it is damaged or exposed to a virus, virtual money stored in the wallet is very vulnerable to disappear.
I think the weakness of the BTC is no person in charge, for example if our bitcoin is lost we can not report to anyone, if there is a responsible bitcoin better security system ...
some other people focus on the online because they want to earn bitcoin and now they work for other country and the value of our money getting lower and our economy getting lower.
We all know the advantages of BTC, but what are some of the disadvantages??
For me the advantage of bitcoin is wheb you have this because bitcoin is more profitable to hold and i think if you have this you will get more money try to invest more momney in bitcoin if the bitcoin goes down because this is the time to buy and i will durely that it will pumo so fast and then sell again then buy. 
For now , the disadvantage that I encounter with bitcoin is that since it is a digital crypyocurrency and it requires any gadget such as laptops , computer or mobile phones and an internet connection to function it is being limited by this aspects . so what if , you don't have any of this it means that you're unable to join bitcoin .
Of course, you must have at least internet connection and a laptop or desktop in order to accumulate and transact bitcoins. It is really obvious because bitcoin is a cryptocurrency and it works online thus, it requires internet connection and a device. If you don't have any, you won't have it.
For now , the disadvantage that I encounter with bitcoin is that since it is a digital crypyocurrency and it requires any gadget such as laptops , computer or mobile phones and an internet connection to function it is being limited by this aspects . so what if , you don't have any of this it means that you're unable to join bitcoin .
Bitcoin is accepted by small groups only in the merchants. And many people have no idea for bitcoin.
I think bitcoin really has not had many users, popular until the last few years. The fact is that the field of electronic money is still a relatively new field and not many people know.For both the user and the bitcoin investor, learn how to use it and its potential. It will take a while.
Bitcoin is accepted by small groups only in the merchants. And many people have no idea for bitcoin.
As for me, the only drawback of bitcoin for today is high commissions. But this problem will soon be solved, with the introduction of lightning network.
Main disadvantages of btc......no one to control the value of the single bitcoin. Due to lack of proper valuation systems Bitcoin can be subject to high volatility in price. coin anonymity can help those performing illegal activities *conducting transactions*. and finally scalability issue as btc infrastructure has not undergone any significant improvements.
Bitcoin is a great invention and has experienced a lots of growth. At this stage, some disadvantages of BTC are: 1) high fee; 2) long transaction confirmation time (block time is 10 minutes, and there are many unconfirmed transaction in mempool waiting for confirmation).
That is true that the fee is now high compare to the fee of the past few years and the confirmation takes ages before the transaction gets at least 1 confirmation. I hope that in the next few months, the developers will have some improvements that will make the network of bitcoin fast and cheaper again.
Bitcoin's volatility is the major disadvantage. Another thing is the wallet. Totally unsecured, easy to lose, and hard to backtrack when something goes wrong.
There are a lot of reasons to like bitcoin, but there are of course reasons to be psed sometimes with the nature of bitcoins. One example is the process of mining it is so long and bitcoin transactions are slow. another is its uncertain value fluctuations. But hey, its disadvantages are being shadowed by the advantages and benefits bitcoin provides us.
disadvantage of bitcoin are high transaction fee its too long to send bitcoin. the possibilty to become shitcoin it to big since satoshi nakamoto never seen by people. hoping that it will not happen in the future
No it's not a high transaction fee as your thought. In the past, when bitcoin is only 1k$ , the fee is just about 0.5$ or 1$ only. Just because the raising on price of Bitcoin cause to the raising of fee transaction too ( same quanlity but higher price ).
There are a lot. First is that its growth fluctuates. Last 2017, Its growth boosted so high and today, it went down again. Another one is that it is not in physical form. Most of us still go to physical stores in order to buy something and most of these stores don't accept Bitcoins.
For myself, I highlight the following major disadvantages of bitcoin: the speed of transactions and the cost of these transactions, and I am concerned about the fact that is 1000 people own 50% of the bitcoins, there is no decentralization.
disadvantage of bitcoin are high transaction fee its too long to send bitcoin. the possibilty to become shitcoin it to big since satoshi nakamoto never seen by people. hoping that it will not happen in the future
No it's not a high transaction fee as your thought. In the past, when bitcoin is only 1k$ , the fee is just about 0.5$ or 1$ only. Just because the raising on price of Bitcoin cause to the raising of fee transaction too ( same quanlity but higher price ). 
I think costs are getting more expensive, It needs strong networking to spread the word on bitcoin, Bitcoin is relatively new and most of its features are incomplete and There is still a long way to go before Bitcoin gets to its full potential.
The fees are getting high because bitcoin is high. Same thing with other commodities, when its price get high on the market, certainly its retail price will likewise goes up. As to the popularity of bitcoin, it is now getting known by people around the world. But to think of it, bitcoin gives us more oppprtunity to earn albeit its high transaction fees.
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