I think the biggest problem its not the bitcoin code, the biggest problem in this moment its the difficult to buy bitcoin from a safe exchange, the technical knowledge needed to set up a wallet, and the difficult to use a digital currency in the physical world.
I think the biggest problem has become the politics in bitcoin, the scaling debate stopped being a technical debate a long time ago and now it seems more like the usual politics you see everywhere, in my opinion this has delayed the rate of adoption significantly, so I hope we are able to leave it behind. 
Topic: What do you think are the biggest disadvantages of Bitcoin? - page 35. (Read 76758 times)
September 09, 2017, 04:03:05 PM
September 06, 2017, 06:01:05 AM
The high fees are charged by some wallet services. This can make people completely avoid some wallet service. One thing that needs to be agreed is based on the ever increasing value of increasing transaction fees but every time the transaction fee is the same
September 06, 2017, 05:57:01 AM
Well probably I consider about the concern of price on each and every transaction. It will probably slowly and gradually make individuals not use bitcoin, since even tiny transactions have large chunks. I consider that is the only disadvantage of bitcoin
September 06, 2017, 12:09:48 AM
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 
I think there are four reasons why Bitcoin can not become formal payment:
1- Not many people know the existence of Bitcoin. Although the numbers are increasing, developing countries do not have as much exposure to high technology as bitcoin.
2- Bitcoin prices fluctuate sharply: up to 10-15% per day. This has made many people unhappy with their money, despite the overall trend of bitcoin prices rising rapidly in recent years.
3- The size of the block needs to increase as bitcoin users get more and more so it seems is also slowing down a lot. Although hardfork and segwit.
4- Bitcoin is not really safe. There have been hackers stealing bitcoin. Bitcoin is also used for money laundering purposes.
September 05, 2017, 11:47:43 PM
Disadvantages of bitcoin.
Not secure : i along most of other constantly get scammed by these scumbags that steal your bitcoins for the service they offer. Once they got your funds, they disappear.
The price keeps jumping to extremes. They are times when it's down. Then they are times its really at the top.
Still having difficulty for most developing countries to accept bitcoin.
Not secure : i along most of other constantly get scammed by these scumbags that steal your bitcoins for the service they offer. Once they got your funds, they disappear.
The price keeps jumping to extremes. They are times when it's down. Then they are times its really at the top.
Still having difficulty for most developing countries to accept bitcoin.
September 05, 2017, 11:27:50 PM
The disadvantage of bitcoin is fastest fluctuation of value to USD. The one biggest disadvantage is bitcoin can't used buy stuff in the store not using digital transaction and even in the remote area. It cannot used in payment in bus, jeeney, and taxi.
September 05, 2017, 01:36:09 PM
I think not everyone knows and uses bitcoin is basically this economy based on paper money so it is still too risky 
September 05, 2017, 01:02:03 PM
For me, the biggest dksadvantage of bitcoin is; it is not widely accepted. Infact, some countries are banned this kind of technology. If you want the list here https://en.m.wikipedia.org/wiki/Legality_of_bitcoin_by_country. Second, it has no physical form. You cannot spend it ti any physical stores. Only few stores are accepting bitcoin. You need to convert it to cash in able to buy. Third, bitcoin can be lost. Just like physical.money, it can be lost. For example. You have stored your btc at your pc, but the pc crashes. Your wallet is lost and also your btc.
I think the biggest disadvantages of bitcoin you can't use it in any offline store because they not consider it as money. In addition to that, bitcoin is not widely accepted and as of now bitcoin is still illegal in some country. Lastly, I think being decentralized is also one of the disadvantaves of bitcoin. September 05, 2017, 12:56:53 PM
I think the being decentralized is the biggest drawback of Bitcoin. Currently being decentralized sluggish factors down when it arrives to choice and modification particularly employing correct and upgrades. It wants consensus and as we see, it normally takes a long time just before 1 good up grade to be applied.
This is completely incorrect the biggest advantage of bitcoin is that is decentralized if that was not the case, governments would have destroyed bitcoin already by seizing a few servers and this is why most people want to have small blocks so bitcoin remains as decentralized as possible. 
September 01, 2017, 10:00:13 AM
Bitcoin disadvantages is transactoin fee and transfers time is so long which is so much irritating And the price of bitcoin is not stable.The payment system of bitcoin is so difficult.I can't understand this system also.
September 01, 2017, 08:03:11 AM
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
Maybe it is because of being volatile. In an investment, having a stable market value is a plus points, because if something's value changes from time to time, it will be risky, especially on an investment or at this case , as a currency. Also, Bitcoin is an open source system, that make countries doubt about the security. But as its demand is increasing, it will be legal to more countries in the near future. September 01, 2017, 07:32:11 AM
I think the biggest problem its not the bitcoin code, the biggest problem in this moment its the difficult to buy bitcoin from a safe exchange, the technical knowledge needed to set up a wallet, and the difficult to use a digital currency in the physical world.
September 01, 2017, 07:14:12 AM
I agree with volatility and transaction fees being disadvantages (although volatility is temporary and fees not too relevant for bitcoin as an investment/digital gold).
Another big disadvantage in my opinion is that for common people it is still not easy to get Bitcoins (and into bitcoins); one survey on a german blog showed that many bitcoin owners were working in software development/IT. Not mainstream.
i.e. to get started you first have to create or get a (secure) wallet (or more than one per type of use); then you have to find out the best way to get bitcoins, mostly sorting through tens of commercial available exchange sites (and google ads), what they charge, and then - example in Germany, where your choice is more limited - go through a heavy ID verification process (this seriously gave me headaches and gives doubts - do you trust these companies with that detailed data, are they reliable, given the history of these exchanges).
Then you have to trust that you made the right choices, which if you're not tech-savvy or tech-curious is not granted.
Another big disadvantage in my opinion is that for common people it is still not easy to get Bitcoins (and into bitcoins); one survey on a german blog showed that many bitcoin owners were working in software development/IT. Not mainstream.
i.e. to get started you first have to create or get a (secure) wallet (or more than one per type of use); then you have to find out the best way to get bitcoins, mostly sorting through tens of commercial available exchange sites (and google ads), what they charge, and then - example in Germany, where your choice is more limited - go through a heavy ID verification process (this seriously gave me headaches and gives doubts - do you trust these companies with that detailed data, are they reliable, given the history of these exchanges).
Then you have to trust that you made the right choices, which if you're not tech-savvy or tech-curious is not granted.
September 01, 2017, 05:56:47 AM
It is true that bitcoin has so many advantages such as easy income but what about disadvantages? In my opinion there are few disadvantages of bitcoining one case is we dont know the exact price of a bitcoin because it changes from time to time what I mean is its not that stable and it is risky but we still patronize it. For example I converted a bitcoin into 300 $ the next day its value changes to 350 $ something like this. Also Bitcoin is volatile due to the fact that there is a limited amount of coins and the demand for them increases by each passing day.
I think the being decentralized is the biggest drawback of Bitcoin. Currently being decentralized sluggish factors down when it arrives to choice and modification particularly employing correct and upgrades. It wants consensus and as we see, it normally takes a long time just before 1 good up grade to be applied.
the biggest disadvantage of bitcoin is that we still have to pay a fee with small transaction and that fee is extremely big when compare to that small transaction. As you can see, if we want to transfer $1 worth of bitcoin to someone, we need to pay an extra $0.5 in order for our transaction to be proceeded
That is not really a disadvantage but the way the network works, have you tried to send a dollar using a bank wire? I do not even know if it is possible to send such a low sum of money, but in bitcoin you can do it if you want even if you consider the fee to be high.I will never come up to an understanding as to how people think that bitcoin fees are "high". Have you guys tried to transact a large sum of money? You see how little that fee is as opposed to how much the fee is when you send money in Paypal. Unless you are a person that likes to send a dollar at a time, which is insane by the way, then I see no reason why would you have problems with the transaction fee.
The biggest disadvantage of bitcoin is the stability of its price that holding it somewhat putting your money into a risk, you never know if it will rise or the price suddenly crash or lose its value.
Many people expressing that hold off in confirmation time is the biggest disadvantage of bitcoins but I do not believe its an huge issue if you include increased fees as if you want to get income in rapid time in your wallet then you should find the money for to shell out larger expenses and for me its not a massive offer.
First, wallets could be hacked if the users become careless. Second, bitcoin is not capable of instant transaction. Third and biggest disadvantage is that bitcoin is not backed by something. Like in fiat, it is backed by the economy of the country issuing it however in bitcoin, only the trust of the users make up the value of bitcoin.
your physical wallets can be stolen, too you can not blame bitcoin or wallets cause of your carelessness. Bitcoin is good and if you want bitcoin to perform best, you need to have a decent knowledge about bitcoin and as well as the computer. Everything can be hacked or stolen, even the place with highest level of security Oh i see... I guess the logic in my first reason out of place haha. Indeed if we were to factor out the users carelessness, hackers wouldn't even try to hack the blockchain and this is in fact an advantage
Disadvantages of bitcoins i guess is the high transaction fee from one site to another, you can't pay bills or foods using bitcoins you need to cash it out first coz in our country no restaurants or malls can transact to btc, & ofc the thing that btc has no accurate price sometimes up sometimes down.
What you are talking about shops and restaurants not accepting Bitcoin directly is not a permanent disadvantage of Bitcoin. Right now we can still consider Bitcoin on a developmental stage as it is still growing and a lot of people are not aware that Bitcoin exist which means it is too early to say that businesses won't accept Bitcoin as a mode of payment. Also it is still risky to accept Bitcoin as a business owner as it is still a volatile currency. Jump to: