Topic: What do you think are the biggest disadvantages of Bitcoin? - page 4. (Read 76709 times)
In my own view,the biggest disadvantage of bitcoin is that not all the part of the world accept it as a medium of transaction
I guess the disadvantages of Bitcoin that need to be improve was the confirmation in the blockchain, most people in bitcoin world facing this circumstances most often in every time of doing transactions. I hope this thing will be resolve someday.
For me I haven't really seen a disadvantage with bitcoin. There is the fact that you can't get your bitcoins back once you lose them, but that feature was actually put in to help protect your coins more than anything else.
Being internet related one of its disadvantage is the security part because there are lots of hackers in here. Other than that is the lack of acceptance because bitcoin is not being used worldwide. Another thing is bitcoin is a wealth on the internet which has to be converted in order for you to have a cash or money. 
Bitcoin is volatile. I think it's the biggest disadvantage of Bitcoin. Its price bounces up and down every day namely because of the limited amount of Bitcoins and an increasing demand for them
I think because bitcoin now is getting bigger and I'm sure those miners who left Bitcoin will comeback and mine Bitcoin again, the temporary slow transaction is just a sign for Bitcoin that it is growing because the transactions are getting bigger and bigger because of the people who are starting to adopt Bitcoin but it will be fix soon.
Just look at the very high fees. That is already unreasonable. And sometimes more than 24-hour confirmation, that is another big disadvantage of using bitcoin. And sometimes it really is hard to buy the things you want when the shop, online or actual physical one, do not accept bitcoin as a form of payment
In my opinion, the advantages Bitcoin can be drawbacks. As well as transactions that are not detected, it might be a tremendous advantage of Bitcoin, and is not owned by any other payment, but it may be a precursor of illegal transactions, and the government also questioned it.
I will try to count all that come to my mind.
1-) The transaction speed is very slow.
2-) Blockchain network is very busy.
3-) Transaction fees are very high. This is horrible!
Most worrying things I guess.
1-) The transaction speed is very slow.
2-) Blockchain network is very busy.
3-) Transaction fees are very high. This is horrible!
Most worrying things I guess.
I guess the disadvantages of Bitcoin that need to be improve was the confirmation in the blockchain, most people in bitcoin world facing this circumstances most often in every time of doing transactions. I hope this thing will be resolve someday.
I think. The biggest problem with bitcoin in my opinion is that every single transaction is available to anyone to see if they want to, that makes bitcoin very vulnerable to algorithms trying to link bitcoins with an identity.
I think the only disadvantage of bitcoin right now is the transaction size.. and the speed of the transaction it is not actually instantly it takes minutes before you receive or if you are pay a small amount it takes few hours or days.. The other thing for me is fine only the transaction is my problem because sometimes im halving problem pending transactions..
The biggest disadvantages from bitcoin in my opinion is still vulnerable hack and bitcoin is always used for the negative activities. That is seems to me that the weakness of bitcoin makes someone difficult to believe with bitcoin.
That is one of the things that could prevent bitcoin to be accepted as payment. In addition, many scam it will affect my opinion. If bitcoin can be overcome, I believe bitcoin will be accepted as payment.
When you deql with bitcoin you just have to know that there are risks anyway.
That is one of the things that could prevent bitcoin to be accepted as payment. In addition, many scam it will affect my opinion. If bitcoin can be overcome, I believe bitcoin will be accepted as payment.
When you deql with bitcoin you just have to know that there are risks anyway.
Biggest disadvantages of Bitcoin according to me are given below:
1)Unstable price value
2)Security
3)spams ICO's
4)Unacceptable by banks and governments.
5)Risky
1)Unstable price value
2)Security
3)spams ICO's
4)Unacceptable by banks and governments.
5)Risky
Bitcoin is not freely accepted as other local currency ,the government are trying all means to bring it to an end ,banks are regularly discouraging new investors and the social media are here now to blackmail the market it is very difficult .
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 
To be honest, I don't see anything that is disadvantage of bitcoin. When the price of bitcoin is decreasing it is not a bad thing, it is a good thing for those people who don't have bitcoin it is an opportunity for them to buy bitcoin because their money is not enough to bitcoin while the price of it is bigger. And bitcoin have a many advatages specially the tax of it, because it don't have a tax.
Greed.
A big disadvantage is that it is not tied to any commodity. It's value is only realized by its utility, which is the cause for volatility. The amount of energy it takes to produce does not mean it has that much money's worth of value. But it is very useful and the more use it sees then the higher the market cap will need to be to facilitate all the transactions due to it's 21 million coin limit.
Besides all these disadvantages, there is always a risk of unknown technical flaws. . According to the Stanford journal, since Bitcoin is fairly new technology, if they were accepted by every one, and a flaw was found, it could give huge amount of wealth to the exploiter at the cost of demolishing the BTC economy. Also there is no valuation guarantee because there is no central authority governing BTC. The decentralized aspect of BTC is both imprecation and blessing. 
A big disadvantage is that it is not tied to any commodity. It's value is only realized by its utility, which is the cause for volatility. The amount of energy it takes to produce does not mean it has that much money's worth of value. But it is very useful and the more use it sees then the higher the market cap will need to be to facilitate all the transactions due to it's 21 million coin limit.
For me I haven't really seen a disadvantage with bitcoin. There is the fact that you can't get your bitcoins back once you lose them, but that feature was actually put in to help protect your coins more than anything else.
I think, Bitcoin is not completely implemented in every country and due to very low transaction fee many people are using for illegal activities.
The price of bitcoin is also not stable.
The price of bitcoin is also not stable.
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