I think bitcoin price is pumping & dumping at any time it's one of the big disadvantages.
You are wrong. Absolutely Bitcoin price pumps and dumps but just sometimes it go down like the others cryptocurrency. We are investing, that's why we have to choose the best and suitable currency to buy and sell it at the right time to gain more income. The biggest disadvantages of Bitcoin is still a lot country don't accept Bitcoin as a legal money.We can also claim that that is the biggest disadvantage of all the existing currency. Even dollars isn't actually accepted in foreign countries. You still have to convert your dollars, which is quite a famous currency, into their local currency before it gets accepted.
I think it's actually an advantage of bitcoin because in the long run, the situation can be changed. Fiat currencies will always be only exclusive for the local people. Like, Yen will always be only used in Japan. In case that Japan conquers another country, there might be a chance that they will start using Yen as well but surely Japan will not conquer the whole world.
Bitcoin, on the other hand, is flexible. Bitcoin can become a universal currency because it's not under any government. Bitcoin can be used in Japan, in China, in USA, without any hassle at all. You can use it but at the moment, there's not much merchants accepting it. It's only a matter of time and mass adoption for it to be changed.
I think the biggest disadvantage and at the same time advantage of bitcoin is its nature being decentralized. Since the government cannot regulate it, it can be a potential gateway for illegal activities and it also cannot be tracked. Lack of government intervention results to its price being highly volatile but it can also be considered as an advantage for investors. Another thing, one big disadvantage of bitcoin is the accessibility of it to the public. One may require an internet connection to be able to have an opportunity to earn bitcoin but most of the population around the world lives in the poverty area which does not have any access to these.
A lot of people here (apparently) are ranting about how bitcoin requires an Internet connection in order to be accessed. I mean, what other network do we have in the world? The Internet is the only thing that connects each and everyone of us and if you don't have it, then you're practically disconnected to others. The people that don't have an Internet connection don't really affect the economy here.
They can't afford the Internet, thus, bitcoin surely outprices them. They wouldn't have any money to add to the pool of bitcoin. They can't affect us in anyway, they can't even spread FUD because they don't have an Internet connection and FUD is the most basic form of affecting other people.
