No Valuation Guarantee
Since there is no central authority governing Bitcoins, no one can guarantee its minimum valuation. If a large group of merchants decide to “dump” Bitcoins and leave the system, its valuation will decrease greatly which will immensely hurt users who have a large amount of wealth invested in Bitcoins. The decentralized nature of bitcoin is both a curse and blessing.
Built-in Deflation
Since the total number of bitcoins is capped at 21 million, it will cause deflation. Each bitcoin will be worth more and more as the total number of Bitcoins maxes out. This system is designed to reward early adopters. Since each bitcoin will be valued higher with each passing day, the question of when to spend becomes important. This might cause spending surges which will cause the Bitcoin economy to fluctuate very rapidly, and unpredictable.
Topic: What do you think are the biggest disadvantages of Bitcoin? - page 21. (Read 76757 times)
December 03, 2017, 01:00:10 AM
December 03, 2017, 12:49:04 AM
I think it is slow and pricey transactions, high volatility, and reliance for miners to confirm your transactions. Also no protection laws which securing your hard earned money.
December 02, 2017, 10:37:49 AM
Foremost, the Bitcoin value is very inconsistent. Second, many people does not fully trust the legitimacy of this currency. Not everyone is literate about it.
December 02, 2017, 10:35:05 AM
First biggest disadvantage is Bitcoins cannot be regulated with current stream. Second disadvantage is, its taking higher fees to place transaction within network. Third thing price of Bitcoins is going higher as normal person cannot afford to buy Bitcoins.
Bitcoin is anonymous, decentralized, digital, open source, virtual, cryptocurrency, which is based on SHA256 algorithm.
Bitcoin is anonymous, decentralized, digital, open source, virtual, cryptocurrency, which is based on SHA256 algorithm.
December 02, 2017, 10:21:37 AM
Bitcoin has many advantages and disadvantages. I thing the greatest disadvantages of bitcoin price is not stable because it is digital currency and their some people who are are concerned to invest in bitcoin they are afraid of losing a lot of money instead of gaining profit.
December 02, 2017, 09:46:20 AM
In my opinion, the disadvantages of Bitcoin would be:
• The unstable value of it, may go pump more than we know, or go lower than we could ever imagine.
• Security issues, hacker would try and attempt stealing Bitcoins espcially if it's value continues to pump up.
• Fiat money, it's unlike paper money to you get to see and touch everyday lol
• It's used for some illegal transactions happening around the web or internet
And many more perhaps. Still look on the advantages and bright side ~
• The unstable value of it, may go pump more than we know, or go lower than we could ever imagine.
• Security issues, hacker would try and attempt stealing Bitcoins espcially if it's value continues to pump up.
• Fiat money, it's unlike paper money to you get to see and touch everyday lol
• It's used for some illegal transactions happening around the web or internet
And many more perhaps. Still look on the advantages and bright side ~
December 02, 2017, 09:04:40 AM
In my opinion i think the biggest disadvantages of bitcoin is it can be used to illegal works, such as Money Laundering and Buying illegal online.We all know that in the internet specially in the cryptocurrency industry we are all anonymous even though people can track us people can easily block them like using softwares such as VPN. So i may i say that the chance of tracking us is very low.
So since we're all anonymous the people who do illegal works such as the corrupt governments (Not all) may use bitcoin to hide their properties or to launder their money, there's a possibility that it may happen right? And the other thing is if the deepweb or the blackmarket may overpowered the country, because of the anonymity of the person. They can access through it and may use the blackmarket to buy drugs, illegal weapons etc.
There's a lot of disadvantages of bitcoin and i think the 2 that i've stated is the most disadvantages of the bitcoin (Can be used to illegal works)
So since we're all anonymous the people who do illegal works such as the corrupt governments (Not all) may use bitcoin to hide their properties or to launder their money, there's a possibility that it may happen right? And the other thing is if the deepweb or the blackmarket may overpowered the country, because of the anonymity of the person. They can access through it and may use the blackmarket to buy drugs, illegal weapons etc.
There's a lot of disadvantages of bitcoin and i think the 2 that i've stated is the most disadvantages of the bitcoin (Can be used to illegal works)
December 01, 2017, 11:39:30 PM
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 
One of the disadvantages of bitcoin is because it is too technological or hightect, not all of the people can understand what is the true use of it and how to work with it. Another is people are habituated with the old ways of trading in the real world and they won't easily change the things that they usually do for how many years just because theres a new currency pop up. 
December 01, 2017, 10:34:21 PM
I think the biggest advantage of Bitcoin is the security of Bitcoin. It's not almost secure so Bitcoin user still can be founded out. Beside Bitcoin transaction take too long time to get enough confirm. Moreover Bitcoin is easily taken advantage to commit guilty by crimes.
December 01, 2017, 10:26:05 PM
The biggest disadvantage of bitcoin is that all of its activities are done by the internet while people are accustomed to trading with paper money. Not only that, bitcoin has just grown so many people still do not trust it, it takes a lot of time for popular bitcoin.
December 01, 2017, 10:14:23 PM
The biggest disadvantage to bitcoin is losing time with the family because it is too busy monitoring the price movement of bitcoin so that it consumes a lot of time wasted with the family.
December 01, 2017, 10:06:02 PM
The high volatility. It is a great disadvantage especially for making transactions in bitcoin. The amount that you send can pump or dump at anytime and it is not good especially when it will be changed into fiat.
December 01, 2017, 10:00:47 PM
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
the big disadvantage of bitcoin is when its dump? but i think dumping is a great opportunity for bitcoins to increase more and more and bitcoin is not stable so i think 50/50 the bitcoin become a real or virtual currency in the future but if bitcoins become stable i think this bitcoin can change all country and the bitcoin become our future money. 
December 01, 2017, 09:16:32 PM
Manipulation by rich dishonest people
For me the biggest disadvantages of bitcoin is the price of it is not stable, and for me the other disadvantages of bitcoin is sometimes the transcation is too slow, just like buying loads using bitcoin, this transcstion will took too long. And for me the other disadvantage of it is no yet legal for all of the country. December 01, 2017, 04:19:41 PM
i think BTC on it's own hasn't big disadvantages.
But i think a very big disadvantage with the BTW network is also the best thing on the BTW network-> There is no controll.
On every site you invest your BTC or evry guy who offers you hardware for BTC could every second decide to shut everything and just leave.
Who wants to stop them? I think most of faucets or investing sites or sth. else nobody knows who the ral owner is.
But i think a very big disadvantage with the BTW network is also the best thing on the BTW network-> There is no controll.
On every site you invest your BTC or evry guy who offers you hardware for BTC could every second decide to shut everything and just leave.
Who wants to stop them? I think most of faucets or investing sites or sth. else nobody knows who the ral owner is.
December 01, 2017, 04:18:05 PM
For me, the fact that it's still not accepted far awad people nevertheless not knowin gs thbiggest disadvantages of bitcoin. If only bitcoin is going to be widely recognized and individuals begin using it, I'm certain other problems regarding bitcoin will surely possess a answer which will benefit many of us.e niy a
I think yes there are disadvantages of bitcoin because if someone have a advantages there must be some disadvantages as well because I believe that bitcoin is only available on internet so if you have internet its mean you will have bitcoin and if you have no internet then there will be no bitcoin and secondly bitcoin have no physical shape because every single of bitcoin want to see bitcoin and they want to fell it any time any place.
December 01, 2017, 02:44:30 PM
For me, the fact that it's still not accepted far awad people nevertheless not knowin gs thbiggest disadvantages of bitcoin. If only bitcoin is going to be widely recognized and individuals begin using it, I'm certain other problems regarding bitcoin will surely possess a answer which will benefit many of us.e niy a
I think yes there are disadvantages of bitcoin because if someone have a advantages there must be some disadvantages as well because I believe that bitcoin is only available on internet so if you have internet its mean you will have bitcoin and if you have no internet then there will be no bitcoin and secondly bitcoin have no physical shape because every single of bitcoin want to see bitcoin and they want to fell it any time any place. 
November 29, 2017, 10:46:34 PM
For me, the fact that it's still not accepted far awad people nevertheless not knowin gs thbiggest disadvantages of bitcoin. If only bitcoin is going to be widely recognized and individuals begin using it, I'm certain other problems regarding bitcoin will surely possess a answer which will benefit many of us.e niy a
especially for users who use bitcoin for spending or currency of course this problem is a big problem for them. because currently there are still few people who use bitcoin so there are still few merchants that accept bitcoin. but be patient dude. this problem will be resolved it's just a matter of time as suppose November 29, 2017, 09:57:37 PM
For me the biggest disadvantage of Bitcoin is their value because you will never know when will go up and when it will go down. You need to take a risk if you will invest in Bitcoin, but this not only applicable in Bitcoin because all investment or even in trading you will always take a risk when you enter that business.
November 29, 2017, 09:45:02 PM
for countries which have legalized bitcoin will certainly consider bitcoin better tha cas, wha about nations that also reject the existence of bitcoin? obviously they nevertheless use cash as the primary repayment device. bitcoin is modern tools and may be for future years. bitcoin works best for on the internet transactions, and funds works best for offline transactions. this looks more fairnht
It doesn't need to be legalized to use. You mean recognized as an official currency. Yes that is the reason why many people don't use it. They think it's for high tech nerds or hackers or something. Some people even think of cyber terrorists. So there many reasons it has not gone mainstream. But for me it has gone mainstream because I can spend it at many online shops. Bitcoin will really be a success when I'm about to buy petrol with my bitcoin.
Jump to: