The fees, the speed and some online wallets and exchanges bad practices.
Never use online wallets when you could save your coins with a hardware wallet or a light weight client which can be installed in your laptop,you must take full control of your assets and that is the primary reason for using bitcoin rather than trusting a third party.Transaction fees and delays are the biggest disadvantages of bitcoin for now. 
Topic: What do you think are the biggest disadvantages of Bitcoin? - page 55. (Read 76769 times)
The biggest disadvantage of bitcoin for me is the way it transacts payments because now it is very slow and that is the biggest disadvantage because one of the most well known feature of bitcoin is being fast in transaction but now it is getting hours to get confirmation from a transaction so I think it needed to be fix by the developer.
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 
Currently? High transaction fees. Also, usability for older people. What if they lost their mobile wallet? forgot where they kept their recovery phrases?
The biggest issue would be the incompatibility with the financial system which are overly watched and observed, the fact that not every bitcoin address is linked to someone's name and identity make it hard for regulated financial institutions to use bitcoin as a currency
But that's just the point of bitcoin, not getting taken over by a financial institution. Bitcoin should not be regulated and we should all remain anonymous here. The essence of bitcoin will quickly die when the banks take over it. It's a good thing that they can't do it by making up new laws. They would have to buy the majority of the coins in order to have control which might not even be enough to have power over other bitcoin users.
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 for now is that the very big fees of every single transaction that people need to pay at least 1$ for any amount of Bitcoin, even if 0.001 BTC or 0.0001 BTCBut on a much happier thought people that are transacting a high amount of money only has to pay the same transaction fee. Bitcoin is just outpriced for poor people, honestly. Even the transaction fees.
The biggest issue would be the incompatibility with the financial system which are overly watched and observed, the fact that not every bitcoin address is linked to someone's name and identity make it hard for regulated financial institutions to use bitcoin as a currency
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 for now is that the very big fees of every single transaction that people need to pay at least 1$ for any amount of Bitcoin, even if 0.001 BTC or 0.0001 BTC 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
Some real and/or imagined roadblocks to adoption:
- bitcoin (and the notion of crypto currencies in general) is unfamiliar to many (see Technology Adoption Life Cycle)
- the bitcoin price is volatile
- government requirements are not clear
- user is responsible for knowing how to secure their wallet
- reports of scams
- commercial services and products using bitcoin are still in early stages
It needs time and improvement, for bitcoin to become a mainstream payment system and most of us believed that it is only a matter of time before this happens .
These are the reasons I can think of why most especially large companies still won't accept bitcoin as a payment method:
1). Pseudonymous, It will be hard to trace the person behind a transaction .
2). Its past involvement with illegal activities (ex. Silk road )
3). Has a potential to be use and still being used for illegal activities .
4). Confirmation time getting slow and slow
5). No one controls it
These are the reasons I can think of why most especially large companies still won't accept bitcoin as a payment method:
1). Pseudonymous, It will be hard to trace the person behind a transaction .
2). Its past involvement with illegal activities (ex. Silk road )
3). Has a potential to be use and still being used for illegal activities .
4). Confirmation time getting slow and slow
5). No one controls it
Here's my two cents,
I agree with no. 1, 2 and 4 because all of these three is true and needs to be develop.
But no. 3 and 5 is not.
No. 3 No one can prevent it as bitcoin is an online. You will not know what hackers can do.
No. 5 of course no one can control it because it is built to be decentralized for nobody can manipulate the system.
There so many benefits of using bitcoin. It is very convenient for online transactions, it can be earn online, it can be used to invest or to trade in exchange of a good profit, it can be stored in an online wallet more secured than having it in cash and etc. Bitcoin is really useful and is going to more useful in the future.
For me, the biggest disadvantage of bitcoin is that it can used anonymously. I know how convenient it is to perform transactions over the internet but I believe that because of that many illegal transactions can be done. Tracing the people behind those illegal transactions would be harder since it had took place anonymously. No personal information have been exchanged in the messages because what they only need is the wallet address to perform such acts.
For me, the biggest disadvantage of bitcoin is that it can used anonymously. I know how convenient it is to perform transactions over the internet but I believe that because of that many illegal transactions can be done. Tracing the people behind those illegal transactions would be harder since it had took place anonymously. No personal information have been exchanged in the messages because what they only need is the wallet address to perform such acts.
There's this new coin called Potcoin and it's being promoted by Dennis Rodman. It seems like a solid project since a lot of people are supporting marijuana. The whole point of the coin is to serve as a bank for the cannabis industry. The anonymity privilege will surely be heavily used in there.
Even when that becomes a success, I really doubt that the amount of illegal transactions going on in bitcoins and in potcoin will ever surpass the amount of illegal transactions going on in the real world with payments in terms of cash. AFAIK, cash even gives you better anonymity since it doesn't have any public ledger unlike bitcoins.
There so many benefits of using bitcoin. It is very convenient for online transactions, it can be earn online, it can be used to invest or to trade in exchange of a good profit, it can be stored in an online wallet more secured than having it in cash and etc. Bitcoin is really useful and is going to more useful in the future.
For me, the biggest disadvantage of bitcoin is that it can used anonymously. I know how convenient it is to perform transactions over the internet but I believe that because of that many illegal transactions can be done. Tracing the people behind those illegal transactions would be harder since it had took place anonymously. No personal information have been exchanged in the messages because what they only need is the wallet address to perform such acts.
For me, the biggest disadvantage of bitcoin is that it can used anonymously. I know how convenient it is to perform transactions over the internet but I believe that because of that many illegal transactions can be done. Tracing the people behind those illegal transactions would be harder since it had took place anonymously. No personal information have been exchanged in the messages because what they only need is the wallet address to perform such acts.
The biggest disadvantages of Bitcoin are the transaction fees. Small transactions are not very profitable because of high transaction fees. moreover, Bitcoin is not very popular and many many people are unaware of it.
Yes you are right the biggest disadvantages of bitcoin is the high fees of transaction if a person have low amount of bitcoin and he transact his money so he will receive very low amount of money and has non profitable so if the transaction fees will low in case of this bitcoin will more establish , and the main disadvantages of bitcoin is that many people do not know about bitcoin ,i think if those person who has knowledge about bitcoin he has to transfer own knowledge about bitcoin to other persons this way bitcoin disadvantages will reduces. The biggest disadvantages of Bitcoin are the transaction fees. Small transactions are not very profitable because of high transaction fees. moreover, Bitcoin is not very popular and many many people are unaware of it.
It is true that many people are disheart because of its transaction fees and many people are not aware of Bitcoin now a days but if the transaction fees is higher than on other side the value and price of Bitcoin is also increasing so the small disadvantage cannot decrease its value a proper use and more information can help you earn more than transaction fees. Biggest issue right now is going to have to be the insanely high fluctuations in pricing that occurs pretty much everyday for BTC and the issues that are surrounding the transcation fees which are pretty much a plague on anyone that is attempting to adopt BTC at this point in their lives. Some people still want to get into Bitcoin but once they see that they're going to have to pay $2-3 for a TX on any amount of money they're probably going to run away, and run as far as possible.
I don't see the point of running away as far as possible. They can simply just switch to using another cryptocurrency like ETH. They pretty much have the same concept. You can both send and receive money and exchange it to digital fiat. Bitcoin has a "high" transaction fee in terms of fiat because we are at a high price today. Today, the transaction fee is $2 because we're almost at $3000. If we were back then in $600 per coin, the transaction fee would just be $0.4 which is really really cheap but they are the same amount in bitcoin form.
Bottom line, it's just the high price of bitcoin that makes the transaction fee look really high.
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 only used online. But I think this is the advantage of bitcoin too. So For me the biggest disadvantage is we can't use this bitcoin to buy in onlineshop company even if this coins value is high.
The biggest disadvantage is sending huge amount of money from one country to another i think its making every countries government goes to loss.Bitcoin is associated with some scam like ransomware even though there is no actual involvement with bitcoin but the ransomware guy accept the money in the form of bitcoin
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
Dependent of internet 
The fees, the speed and some online wallets and exchanges bad practices.
Nice summing up the problems.
Anything more to add cause you already mentioned almost everything about bitcoin.
With this I'm wondering what the advantages are..
.Right now the biggest disadvantages are its high fees and its volatility, hopefully these things will change in time, because these 2 issues really need to be solved...if these are solved it can grow really big.
Although I agree with you most people here are thinking that once the volatility will disappear bitcoin will stop being so attractive for investors and people will lose interest in it.
Biggest issue right now is going to have to be the insanely high fluctuations in pricing that occurs pretty much everyday for BTC and the issues that are surrounding the transcation fees which are pretty much a plague on anyone that is attempting to adopt BTC at this point in their lives. Some people still want to get into Bitcoin but once they see that they're going to have to pay $2-3 for a TX on any amount of money they're probably going to run away, and run as far as possible.
While this is true, BTC is known by a lot of people though people are kinda scared to get into an entire new currency -- change is something which is hard for people to adopt. Also, with little incentive to change people aren't going to change as well. I doubt BTC is going to give many people incentive to change
The biggest disadvantages of Bitcoin are the transaction fees. Small transactions are not very profitable because of high transaction fees. moreover, Bitcoin is not very popular and many many people are unaware of it.
While this is true, BTC is known by a lot of people though people are kinda scared to get into an entire new currency -- change is something which is hard for people to adopt. Also, with little incentive to change people aren't going to change as well. I doubt BTC is going to give many people incentive to change
The fees, the speed and some online wallets and exchanges bad practices.
The biggest disadvantage of bitcoin is it is digital asset and there's a chance that it will vanish in the mainstream without users notice. Without internet bitcoin and blockchain is useless.
I don't think it is a factor because the thing is internet is too impossible to be dead it keep on improving like bitcoins and internet is part now in our daily lives way back the year it was known and it is a big lossle to the company that uses bitcoins so its not but it was a big effect if happens . Big disadvantage for me is the uses of criminals who transacts unknowingly . Jump to: