There are many people who know nothing about bitcoin yet, you can not buy anything you want with bitcoins
And in my case, it is hard for me to swap it for fiat currency, most people use bitcoins as an investment, rigth now me I do not do it that way
Topic: What do you think are the biggest disadvantages of Bitcoin? - page 36. (Read 76730 times)
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 
Im thinking of because it is not yet accepted everywhere, i mean worldwide, then it stability is also unpredictable. Another is not all are knowledgeable about it but i believe as more and more people support and come to discover about it, bitcoin is on the way to it. It is also difficult in terms of payment, if you are cashless and all you have is bitcoins in your crypto wallet but still not all accept it as payment. 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.
if in my opinion, maybe because in every transaction we have to use the internet, unlike the money directly received from person to person.
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.
High transaction fees at this current moment. I'm not sure if it's fair to compare BTC with PayPal before Visa / MasterCard but BTC most likely have to overcome that first before we see a more ideal mass adoption in place.
For me one of disadvanatges is the fact that the transactions have become pretty expensive because of the fees. Also, anonimity is not that strong anymore as it used to be and sometimes the confirmation time that takes too long. Also it's not equaly accepted everywhere especialy by phisical merchants. But this are all things that could be improved in the future.
Bitcoin is not finally stable. For me the biggest disadvantage now is big fees for small transactions.
Scalability is the biggest problem - high fees and 20 minutes waiting will always be an ultimate obstacle for Bitcoin mass adoption.
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
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.
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.
No it wasn't.
https://bitcoin.org/bitcoin.pdf
Satoshi never though of it as a way to move large amount of cash but as a way allow merchants cheaper transactions with no refunds and no 3rd party.
Besides, the whole argument of "big amounts" fails as we know that for almost 2 years bitcoin worked perfectly with a market cap of only 30 million.
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 the biggest disadvantages of bitcoin is still illegal in some country and they don't consider it as real money. In addition to that, one of the disadvantages of bitcoin is you can't use it in offline store or transaction and you can't access it without any internet connection. 
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.
I think the most difficult of bitcoin is that bitcoin is a network coins! Everything on network are on risk of scamming ! You can’t not know which ones will safe , which one is bad ! Like Wannacry virus ! They use the advantage of network working and attack people’s pc ! They also use bitcoin as a price for everybody have to pay to get back the information on the pc! But if we control it carefully, ask everybody who play bitcoin longer than you !
I agree with you completely, I think this network is looking most vulnerable for me. price instability and price volatility are the major disadvantages in this section. scamming could be the another alarming reason in terms of Bitcoin.but all over the things, I do believe in this platform.
instability and increased volatility
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 the biggest disadvantages of bitcoin are; first thing is that, it is not widely accepted. Infact, some countries banned this kind of technology.Second thing,it has no physical form. You cannot spend it in any convenient stores because only few store accepts bitcoin. We still need to convert it into cash. 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 because of trust issues. Sometimes people question the authenticity of bitcoin, whether its value will continue that way or bitcoin will even disappear. Now this bitcoin price is less stable also become one of the factors why people do not accept bitcoin.
I think the most difficult of bitcoin is that bitcoin is a network coins! Everything on network are on risk of scamming ! You can’t not know which ones will safe , which one is bad ! Like Wannacry virus ! They use the advantage of network working and attack people’s pc ! They also use bitcoin as a price for everybody have to pay to get back the information on the pc! But if we control it carefully, ask everybody who play bitcoin longer than you !
I am regret because I know bitcoin since a year ago and did not buy a lot, at that time I thought to buy bitcoin, but I was worried because the price can drop and I lose. I think bitcoin is the best investment.
I think this the biggest disadvantage of bitcoin. People leave bitcoin thinking that it will give loss or its price will be dropped. And don’t buy them. Bitcoin can never be judged easily. It can go to sky while gaining value. We never know about bitcoin, when people will stop using bitcoin and its value will be dropped. This is the biggest advantage of bitcoin according to me that it rely on people and will increase value with people and decrease with decrease in number of people using it. Jump to: