What's preventing Bitcoins from being accepted as mainstream payment forms? I'm working on a new blockchain and would like to learn what drawbacks of Bitcoin urgently need to be improved Wink
We can believe it because it's never gonna end up our future.High trust of bitcoiners on bitcoin and popularity make it safe in the crypto field. Don't bother the current situation I believe in bitcoin because I'm sure that it should have a promising future. 
Topic: What are the biggest disadvantage of bitcoin ? - page 10. (Read 1193 times)
All manipulations with bitcoins are carried out anonymously. The only thing you can find out is only the purse number, when registering, you do not need to specify the holder's personal data.
What's preventing Bitcoins from being accepted as mainstream payment forms? I'm working on a new blockchain and would like to learn what drawbacks of Bitcoin urgently need to be improved Wink
Its still a bit difficult to actually buy them, people do not know where to go or which exchanges/wallets to trust
What's preventing Bitcoins from being accepted as mainstream payment forms? I'm working on a new blockchain and would like to learn what drawbacks of Bitcoin urgently need to be improved Wink
One of the most reason why bitcoins can't be still accepted worldwide when it comes to payments is that its volatile prices which made online business incur losses. Even steam had this problem so they decided not to use bitcoins anymore because they had a great loss for refunds. Aside from the price there were still vulnerability in the internet which is the source of privacy invasion, hacking and the likes which is a great issue to be fixed.
Vulnerability to hackers, and their legality setatus.
The greatest dis-advantage is that we'd like to have urgent kind of flash of the blockchain. May be thats what bitcoin needs to improve but to all its works right now, its great on its peak.
I know little about bitcoins and major payouts. In my country bitcoin is prohibited for main payment. Due to the very high fluctuation rate. Bitcoin has no price stability. So it is not suitable for primary payment. Different from fiat money. Because it has a fixed value and don't change. So the accuracy value of goods can be calculated with fiat currency.
Anonymous transaction which is good for bitcoins users is the disadvantage of bitcoins to the government and banking institutions. The irreversible nature of bitcoins transactions is also the disadvantage to the trader,since money sent to unknown person is bound to be lost forever.
The anonymous nature of transaction is the biggest disadvantages of bitcoins ( personal opinion).
I assume that maybe this is the main reason why the governments are not accepted bitcoins to be used in their country, because they fear that it could be used in funding illegal activities like terrorism , kidnapping, drugs etc :- and all the information that government would get would be 2 wallet address and a transaction address that won't be able enough to declassify and capture the subjects involved.
It could also make a country a shadow market zone , where people can buy anything regardless of their age and permissions.
I assume that maybe this is the main reason why the governments are not accepted bitcoins to be used in their country, because they fear that it could be used in funding illegal activities like terrorism , kidnapping, drugs etc :- and all the information that government would get would be 2 wallet address and a transaction address that won't be able enough to declassify and capture the subjects involved.
It could also make a country a shadow market zone , where people can buy anything regardless of their age and permissions.
The biggest advantage of Bitcoin is it has no valuation guarantee. Since, there is no central authority controlling Bitcoin, no one can guarantee its minimum value. So if a large number of merchants decide to “dump” Bitcoins, its value will fall greatly which will cause great loss of wealth to the users who hold Bitcoins. So, the decentralized nature of Bitcoin is both a curse and blessing.
There are disadvantages associated with using bitcoin.Bitcoins are not widely accepted.The biggest disadvantages for me is that the price is unpredictable. The price were so low that people are afraid.People got bitcoin when prices got higher.
The biggest disadvantage according to me, is the ever increasing fees in the blockchain due to the increase in difficulty, as there are only a fixed number of bitcoins that can be in circulation at any given point of time, that is 21 Million. As we approach this number, the fees rises pretty steeply, atleast according to me, and that soon adds up to such an amount that it is almost useless to transact low amounts, as the fees might even rise higher than the actual amount for small transactions.
The base of bitcoin-investors has changed, it has evolved and incorporated new layers of society. Those who invested only in stocks are now looking for opportunities in other assets amid growing instability in the classical markets
The greatest burden of bitcoin now are the esteem which is unpredictable, likewise bitcoin isn't traceable there will be some issue when government will this one in light of the fact that unlawful exchange can be made effectively. Misleading and Dumping of cost is likewise weakens the holders and it will diminish in light of the fact that they quited as of now as a result of lossing their cash.
Bitcoin retains extreme instability both in daily (or hourly) jerks in the market, and in its own internal dramas and crises. So far it can not be called a reliable refuge from global shocks
What's preventing Bitcoins from being accepted as mainstream payment forms? I'm working on a new blockchain and would like to learn what drawbacks of Bitcoin urgently need to be improved Wink
Anonymity is one of Bitcoin's best feature, but this feature is also Bitcoin's disadvantage. One of the reason why Bitcoin or cryptocurrency in general is not being embraced easily because of this feature. It can be use in illegal activities like illegal drug trade, money laundering, tax evasion and many more.
Governments, if not banning, are hesitant to legalized it in their country for this reason too.
What's preventing Bitcoins from being accepted as mainstream payment forms? I'm working on a new blockchain and would like to learn what drawbacks of Bitcoin urgently need to be improved Wink
Traditional assets, such as gold, have much more opportunities to realize liquidity. They contribute to the flow of funds from stocks, bonds and exchange funds. Bitcoin has no such infrastructure, which greatly complicates the process of withdrawing funds, say, from shares and investing them in the crypto currency 
The biggest obstacle of bitcoin is its legality. It could potentially cause the greatest harm if other bitcoins and cryptoes are banned across the country.
Disadvantages....it is illegal in many countries
transactions fees is so high
price unstable
online smagling
banks hate bitcoin for money laundering
What's preventing Bitcoins from being accepted as mainstream payment forms? I'm working on a new blockchain and would like to learn what drawbacks of Bitcoin urgently need to be improved Wink
having a lots of advantage but alsobitcoin has many disadvantages too.many developed and developing countries don't accept bitcoin as its illegally. online crime are happened by bitcoin transactions. 
In my opinion the biggets disadvantage is the more and more growing blockchain, in comparision with cc's of the third generation, the increasing lenght leads to the familiar problems : High transaction fees and long confirmation times going hand in hand with unconfirmed transactions due to too low fees set.
I think part of the problem with peoples opinions here is applying logic of other markets to one that almost no one understands.I heard it put well by someone the other day that it is extremely rare if not unheard of that a ‘new’ technology is made so publicly available for investment.
If you take the average tech start up for comparison the chance to invest is normally reserved for the likes of business angels and venture capitalist not Joe public.
All of a sudden you get a bunch of people, including me thinking that things look good or bad with no real experience in how ‘things like this’ really work in the long term or where we truely we in terms of the cycle
Jump to: