Topic: What do you think are the biggest disadvantages of Bitcoin? - page 53. (Read 76730 times)
I never find any disadvantage with bitcoin, because when you use it for the goodness you'll surely experience the advantageous part. One's thinking clearly gets reflected with the bitcoin usage and the benefits. Now some has started to describe the increasing transaction fee as the disadvantage.
I think for me the biggest disadvantages of bitcoin from ther altcoins is the slow process of transaction from a wallet to another wallet not just that the transaction fee is very high you'll need to pay atleast 0.001 ithink? For a standard transaction, and i think many of bitcoin users that only have a little money will find the bitcoin hard to use because of it's high transaction fee
For me, the biggest disadvantage of Bitcoin is that even though it is now popular, there are still lots of people who doesn't know a thing about it and aside from that, there are only few establishments that accepts Bitcoin as a mode of payment for the service or products they provide and mostly are online.
For me the biggest drawback of the bitcoin is not only a very high price transactions, but the lack of a large number of bitcoins into the hands of the people. To buy something with bitcoin, we are forced to buy coins for Fiat money. Why do it if we the same can buy directly for Fiat.
Bitcoin vary a lot and it is not implented in every country. Btc is not like other currencies and i don't know if i can see him in future honestly. I think btc is great but i doubt it will last long enough so it becomes the main currency and that you can live just with btc. Anyway the time will tell was i right or not.
For me the biggest disadvantages of the bitcoin the delay of the transaction and of course the need of internet to access with. In the delay of the transaction I think that is the biggest problem of the bitcoin community because the bitcoin transaction is taking very long term to transfer and the fee in pretty not cheap anymore.
I think Bitcoin disadvantages would be the long period of waiting time on the confirmations of your transaction when the blockchain network is congested with a huge number of transactions. And recently, bitcoin miners fees have also increased a lot as compared to the past, and this is making it very expensive for users to send their bitcoins out of their wallets.
I think the disadvantages of Bitcoin are the transaction fee is so high and slow, Uncertain Future No one can say with certainty what will come of bitcoin. As it remains today, bitcoin is very speculative as it is still an experimental type of technology.
Lack of recourse If you lose the wallet which had bitcoins stored in it, you have lost all of your bitcoins in that wallet. You cannot regain it and they are simply lost forever.
Lack of recourse If you lose the wallet which had bitcoins stored in it, you have lost all of your bitcoins in that wallet. You cannot regain it and they are simply lost forever.
Uncertain future: What future is even certain? Even the whole humanity has no certain future. One thing is certain about bitcoin, though. The idea will always live off. Even when bitcoin goes down because of reasons, people will always use cryptocurrencies. One thing that you can do to deal with the uncertain future of bitcoin is to learn how to trade. Learn how to diversify your money so even when bitcoin has fallen, you have your money on other things. Although I really think that bitcoin is the strongest one right now. All the other coins are just there so that people can make more bitcoins.
Lack of recourse: That's just your own negligence. That's not bitcoin's fault.
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 biggest drawback is the high transaction fee and slow transactions when low fee is paid.It has made more companies and merchants to stand away from accepting bitcoin payments.It is said that it would be solved when segwit is implemented on April 1st. 
I think the disadvantages of Bitcoin are the transaction fee is so high and slow, Uncertain Future No one can say with certainty what will come of bitcoin. As it remains today, bitcoin is very speculative as it is still an experimental type of technology.
Lack of recourse If you lose the wallet which had bitcoins stored in it, you have lost all of your bitcoins in that wallet. You cannot regain it and they are simply lost forever.
Lack of recourse If you lose the wallet which had bitcoins stored in it, you have lost all of your bitcoins in that wallet. You cannot regain it and they are simply lost forever.
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.
Agreed, but we can calculate most of them by increase the fee for our transaction. But blockchain is really ridiculous right now, the fee is really big even for small transaction. Not many people know about bitcoin also one of the big advantage of bitcoin, because bitcoin is not popular in some countries.
There are several disadvantages of BTC. Bitcoin is still developing. It is not yet widely accepted and because of this its price is not yet stable. Its value is not predictable. Another one is you can lost your BTC if your data or wallets get corrupted with virus unlike in the banks, if your atm got stolen you can easily call and let your account freeze whereas in BTC, when you lose it theres no retrieving 
For me the biggest disadvantage is low speed
I think the biggest disadvantages of bitcoin is its fluctuation, also its slow confirmation and high transaction fees. These are the reasons why some users are complaining about with regards too slow to confirm the transactions that cannot accept or legalized by any stores globally.
Fees and delays really makes btc difficult to used this past days so we find an alternative coins that can transact easily and with no hassle. Its ok to pay high if we really get the deserve progress in sending transactions but more often its not, hoping btc can fix it soon when huge adoption happens. 
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.
Bitcoin is the most disadvantageous transaction is very slow, very high charges, if you set a low fee, transaction can be canceled without the reason and I have encountered many times 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 think the biggest disadvantages of bitcoin is its fluctuation, also its slow confirmation and high transaction fees. These are the reasons why some users are complaining about with regards too slow to confirm the transactions that cannot accept or legalized by any stores globally.
Fees and delays really makes btc difficult to used this past days so we find an alternative coins that can transact easily and with no hassle. Its ok to pay high if we really get the deserve progress in sending transactions but more often its not, hoping btc can fix it soon when huge adoption happens.
For me disadvantage of bitcoin is that, when bitcoin already increases, it is still decreases so I am expecting bit amount in my bitcoin but then when I check my butocin account again it is already decreases. So, I think this is the disadvantage of bitcoin.
I think the biggest disadvantages of bitcoin is its fluctuation, also its slow confirmation and high transaction fees. These are the reasons why some users are complaining about with regards too slow to confirm the transactions that cannot accept or legalized by any stores globally.
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.
Despite the recent bullish price the volatility indeed do not help the btc on the day to day usage but I guess the fees are the main problem.
Jump to: