disadvantages of bitcoin
ofcourse it high fee transaction and slow to complete transaction. it use call to fast payment and easy. not this day. it has become high fee and slow. the market demand on bitcoin are not stable because it can drop and rises in anytime. not like stock it depend on buy and sell to keep it still alive. government and bank do not approve bitcoin as it sell control by peoples around the world. because of anonymous hacker and terrorist use bitcoin to receive the payment and ask for bounty or whatever they do because bitcoin are not trackable like bank.
bitcoin has a lot negative but still we are here to support bitcoin and bitcoin still alive till this day.
Topic: What do you think are the biggest disadvantages of Bitcoin? - page 39. (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 
Bitcoin's price is unstable it'll go high or drop so I think people are affraid to risk something on bitcoin. Also some people consider bitcoin a an illegal thing as it is not fully accepted to the society.
Disadvantages:
High fees on transactions (deters most that I know)
Majority of users/owners of BTC are speculators (they never actually buy anything)
Too volatile and therefore unreliable for most merchants that operate on razor thin margins
Competition from governments and central banks or even private banks that plan to release their own altcoins
Irrational exuberance in the market in general (beginning to resemble Tulip-mania)
Slow transaction times
No control over media vs. government altcoins that will own the media
Not backed by tangible assets such as gold/silver (BTC is just as fiat as the Dollar)
Price rises and falls are based on emotion rather than news
Essentially beginning to resemble a ponzi scheme based on charts and those aggressively recruiting new BTC buyers
It was first on the scene....but as the story goes, the tortoise beats the hare. Guess which is BTC?
There's more but that's off the top of my head.
High fees on transactions (deters most that I know)
Majority of users/owners of BTC are speculators (they never actually buy anything)
Too volatile and therefore unreliable for most merchants that operate on razor thin margins
Competition from governments and central banks or even private banks that plan to release their own altcoins
Irrational exuberance in the market in general (beginning to resemble Tulip-mania)
Slow transaction times
No control over media vs. government altcoins that will own the media
Not backed by tangible assets such as gold/silver (BTC is just as fiat as the Dollar)
Price rises and falls are based on emotion rather than news
Essentially beginning to resemble a ponzi scheme based on charts and those aggressively recruiting new BTC buyers
It was first on the scene....but as the story goes, the tortoise beats the hare. Guess which is BTC?
There's more but that's off the top of my head.
The disadvantage of bitcoin is that it does not have a primary form of payment. It took a while for Payment by bitcoin. Some locations accepting asynchronous bitcoin payments are not widely distributed. I think it is bitcoin point to fix
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 major problem with bitcoin market nowadays is the price volatility.
A lot of people want to invest in bitcoin but they are not sure whether to invest or not because of the price volatility issue.
Yes this might be one of the problem bitcoin had the reason why people are having doubts on it but for me that volatility is one of the best assets or feature bitcoin has. People wants to invest in this because they can immediately see a result even in a past minute. Also, a good investor always takes on the risk, if they don not take on the risk, they will be just staying there nothing to be done.
Believe me volatilaty is one of the main reasons about bitcoin be at the current value nowadays, its bringing new investors that does play over the financial market. The only thing that makes bitcoin being a wall to be used is confirmation issue, that can take minutes to hours, even knowing its a safety measure would be amazing if any transaction made would be final, no double spend option.
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 major problem with bitcoin market nowadays is the price volatility.
A lot of people want to invest in bitcoin but they are not sure whether to invest or not because of the price volatility issue.
I think these are the disadvantages
1.Government cant control bitcoin so that many people consider it as illegal.
2.We cant use bitcoin everywhere because all shops doesnt accept bitcoin.
3.sometimes many exchange sites get hacked or scam so people stop using bitcoin.
Technically speaking neither of those are bitcoin disadvantages, your first point is just governments being greedy, the second is just the ignorance of people and their unwillingness to adopt bitcoin fast enough, and the third is the fault of private parties that give that service. 1.Government cant control bitcoin so that many people consider it as illegal.
2.We cant use bitcoin everywhere because all shops doesnt accept bitcoin.
3.sometimes many exchange sites get hacked or scam so people stop using bitcoin.
There is a biggest disadvantage on bitcoin that is not available in every country.That's why it is not increasing too much.That's why the price of bitcoin is not getting increase.There is also a disadvantage that it is not stable.
I think that one of the bigges cons- dissaventages that bitcoin haves is that it is so expensive at the moment, but by the way, bitcoin is perfect, it has everything that any person could want, for example, sending money fastly, anonymous way of paying, etc.
For me I think the biggest disadvantage of Bitcoin is that its value is not stable. It goes high and it goes low.
If you ask a swing trader what he thinks about Bitcoin's volatility, I suppose he/she would not miss to thank their luck for opportunities to buy low and sell high every so often. If Bitcoin price were to be less volatile, it doubtless would have been less appealing to speculators and investors and the value we are seeing of it today may well have never been. 
Computer dependency: Virtual currencies are completely dependent on the computer, they do not exist in reality. This is quite problematic because they do not represent real value and if they do not look they are connected to the network, which can theoretically be associated with a hacker attack, although the security is almost perfect. The threat of using such currencies is also a sudden cut off from energy resources.
Money laundering: The most serious allegation against virtual currencies is probably using them to transfer money. By doing so, criminals reduce the risk of falling into a jail. The use of crypto-currency for this purpose spends the night with the eyes of justice. Although the Americans have already caught a few guilty.
Money laundering: The most serious allegation against virtual currencies is probably using them to transfer money. By doing so, criminals reduce the risk of falling into a jail. The use of crypto-currency for this purpose spends the night with the eyes of justice. Although the Americans have already caught a few guilty.
Bitcoin has many downsides. It has encountered a lot of bad news from the press. Its value is not stable. Most bitcoins are distributed mainly via the internet, so it is difficult to make small payments
Bitcoin disadvantages are :-
Bitcoin are not widely accepted
No valuation guarantee
No physical form
Built in deflation
It's valuation fluctuates
Bitcoin are not widely accepted
No valuation guarantee
No physical form
Built in deflation
It's valuation fluctuates
I think that the biggest disadvantage of bitcoin is its instability. If I’m a merchant, I would be very wary of accepting Bitcoin as a payment. FOR EXAMPLE, if I received a bitcoin as a payment worth $100 now, I do not have any assurances that it will stay $100 the next day. I know that prices are volatile and that $100 can change into $1000. But what happens if I desperately needed that $100 at this certain time but its price dropped down to $50?
Seeing what they try to make of Bitcoin is it has some kind of a bad name because of the possible usage of it in illegal things, money laundering for example.
I think these are the disadvantages
1.Government cant control bitcoin so that many people consider it as illegal.
2.We cant use bitcoin everywhere because all shops doesnt accept bitcoin.
3.sometimes many exchange sites get hacked or scam so people stop using bitcoin.
1.Government cant control bitcoin so that many people consider it as illegal.
2.We cant use bitcoin everywhere because all shops doesnt accept bitcoin.
3.sometimes many exchange sites get hacked or scam so people stop using bitcoin.
For me I think the biggest disadvantage of Bitcoin is that its value is not stable. It goes high and it goes low.
That is not an disadvantage but that is the best thing about bitcoin that allows us to make regular profits but you can do it regularly only if you have a good knowledge of market trends and if price would be stable then it won't give you an opportunity of making regular profits.
For me I think the biggest disadvantage of Bitcoin is that its value is not stable. It goes high and it goes low.
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 disadvantage of Bitcoin is that it has not been accepted in many countries. Also, it does not get the support of the people, except the investors. Jump to: