The trouble for me is only paid that everyone will be hard to understand in the transaction and will turn people off.
Topic: What do you think are the biggest disadvantages of Bitcoin? - page 57. (Read 76730 times)
Not everyone trades In in Bitcoins. Secondly it's prices keep on fluctuatining. Thirdly the waiting time on transactions, also turns down people. Plus the concept of Bitcoin as a payment is difficult to understand for everyone.
I agree because nowadays the problem in the transaction time and fees are the main reason why people get mad. They didn't understand why its too long before it be done. About on the trading many users are not interested on it because its hard for them to understand thing that is happening there. 
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 
It's their miner's fee. However, I have seen that they are reinforcing for that since miners are expanding as bitcoin market is growing which is great to prevent overpriced fee for every transaction. Hopefully, miners gets expand quicker so that fee is not even the problem anymore which would make people to use bitcoin over fiat money for online transactions.
Core team is working against the BTC.
Problem of buying/selling BTC with fiat money.
Problem of buying/selling BTC with fiat money.
Bitcoin is digital and anonymous prone to illegal transactions cannot be control by the government so the government will not allow it in some ways to become the mainstream currency and also bitcoin can be banned in that country.
they only look into the darkside , ignoring a lot of positive things and more helpful things to come. they are too busy collecting money as much as they can to build their own kingdom and have no time to think about bitcoin . illegal transaction could be prevented if they really want to think about it. unfortunately most government didn't do that , they even keep stating against bitcoin.Name one government that has successfully prevented illegal transactions. I bet you can do years of research but you'll never end up having success on this. The reason? It's because it's possible. It's only normal that in a society, there are people that are too dumb or too unskilled to become a functioning adult. So they go to the easy way which is doing illegal things.
Even fiat money cannot be controlled by the government. If you were about to pay the drug dealer your money, would the government pop up of nowhere and prevent the transaction going on between you? It's definitely impossible to do, preventing illegal transactions.
On a side note, most of the time it's actually the government themselves that are doing most illegal transactions. So the idea is totally ironic.
However, bitcoins is a hot virtual currency,
But the government and banks have not accepted it as mainstream currency.
So, the bitcoins can not be traded in banks and through routine measure of currency.
We should try to pursue govt and banks to accept it as any other currency.
I don’t think this as any reason. We saw that recently Japan accepted it as a medium of payment for the trade and China, Russia and India are looking forward for it to legalize it in the respective countries. After these proofs the concern of not making it a main stream currency don’t makes any difference to its value as with the passage of time it will become by its own by the number of its users. But the government and banks have not accepted it as mainstream currency.
So, the bitcoins can not be traded in banks and through routine measure of currency.
We should try to pursue govt and banks to accept it as any other currency.
Bitcoin is digital and anonymous prone to illegal transactions cannot be control by the government so the government will not allow it in some ways to become the mainstream currency and also bitcoin can be banned in that country.
they only look into the darkside , ignoring a lot of positive things and more helpful things to come. they are too busy collecting money as much as they can to build their own kingdom and have no time to think about bitcoin . illegal transaction could be prevented if they really want to think about it. unfortunately most government didn't do that , they even keep stating against bitcoin.
For now the advantages are far fetched than the disadvantages to me except for its volatility as there is a limited amount of the coins and the demand for them increases by each passing day.
However, I expect that over time the volatility will decrease as more businesses, medias, and trading centers begin to accept it, leading to the price eventually settling down.
Presently, the way the price bounces everyday is outrageous mainly due to current events that are related to digital currencies.
Also, I wish someone can answer this my question. Is it possible for bitcoin server to crash? And if it does, what happens to all our bitcoin?
However, I expect that over time the volatility will decrease as more businesses, medias, and trading centers begin to accept it, leading to the price eventually settling down.
Presently, the way the price bounces everyday is outrageous mainly due to current events that are related to digital currencies.
Also, I wish someone can answer this my question. Is it possible for bitcoin server to crash? And if it does, what happens to all our bitcoin?
Bitcoin is digital and anonymous prone to illegal transactions cannot be control by the government so the government will not allow it in some ways to become the mainstream currency and also bitcoin can be banned in that country.
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
For me, I don't see a major disadvantage of bitcoins. All I can see that I think it's disadvantage is it is not accpeted in all establishment here in my country. We all kbow that many people have use bitcoin so far yet it is not still accepted in many ways. I would like someday this little disadvantage for me of bitcoin solved and accept in many establishment.
It has no organized promotional effort. How far can it go without that?
I don’t agree that it can be said as the drawback of the bitcoin. There are many types of marketing strategies followed by the organizations in which one is the direct marketing. The bitcoin is basically working on the strategy of the direct marketing in which the company shares its profit with the individuals involved with the company. If you think that the bitcoin should start the TV ads then they will have to stop the signature campaigns.
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 big advantages of bitcoin is the value because ir's valie didn't even stable and no one will ever predict how high or low will the value pump. Many people have a high amount of bitcoin but if the bitcoin value decreased. All of his earnings in this wallet reduced. Many peopl will not appreciate bitcoin if the value isn't stable and didn't predictable.
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 big advantages of bitcoin is the value because ir's valie didn't even stable and no one will ever predict how high or low will the value pump. Many people have a high amount of bitcoin but if the bitcoin value decreased. All of his earnings in this wallet reduced. Many peopl will not appreciate bitcoin if the value isn't stable and didn't predictable.
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 disadvantage is the high transaction fees which would stop new companies to accept bitcoin as payment.The volatile nature of bitcoin price is another reason due to which most merchants avoid bitcoin payments.
Since bitcoin is pseudo anonymous,most merchants fear that their transactions would be traced by government authorities.
For me, there are two areas I think Bitcoin has issues. The first one is theft: There are always trolls on the lookout to hack into wallets and steal available coins. The thirst for such a vice is worrisome, and not everyone who holds bitcoins is internet suavy on what to do to prevent these hackers, and as such losses often occur.
Secondly, there exists that difficulty in converting Bitcoin into fiat in countries where its use is still not widespread like in Africa.
Secondly, there exists that difficulty in converting Bitcoin into fiat in countries where its use is still not widespread like in Africa.
I am not satisfied with the too long speed of operations. It's still bad that you can not use your coins without the Internet.
In addition to the speed of transactions that begin to slow down, the fee will also be greater. I do not know why the fees get bigger. Currently with a fee of 10k satoshi. You will receive a confirmation maybe a few daysIf the bitcoin fails to do so then it will be providing opportunities to its competitors i.e. the alts in a way that people will fed up of the transaction time of the Bitcoin and will switch to any other digital 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 would say the 2 biggest flaws or disadvantages of Bitcoin are the volatility of the price, it keeps jumping from 1800 to 1850 right now, as well as the small block sizes. If Bitcoin wants to be mainstream, the block size definitely needs to be increased. 
I am not satisfied with the too long speed of operations. It's still bad that you can not use your coins without the Internet.
True, I also feel the same irritation when doing a transaction with a small fee. Eg fee 0.0001 btc with blockchain wallet. I'm sure you'll get confirmation the next day LolAgree the fees now a days is one of the biggest disadvantage of bitcoin unlike in the past that isnt the problem but now it is and the delay of sending or receiving bitcoin it really takes time. Though i think it will be resolve sooner or later and i hope so because the price of bitcoin is really incredebly high so it is very good to sell now
As we can see that the users of the bitcoin are constantly increasing and the governments are also showing the soft corner for the Bitcoin so it is not the artificial pump to the price of the Bitcoin. In fact the prices are increasing for real and the people are going to get good from it.
I don't see any disadvantages to bitcoin, I think we're the disadvantages lye are with fiat currency, taxes, bank fees, value is firm, stock exchange and gov agencies are a joke when it comes to regulating and disbursement, if bitcoin had one draw back its to bad it took so long for block chain technology's and cryptocurrencies to be developed.
It has no organized promotional effort. How far can it go without that?
It can without that for, like, forever, I believe. Bitcoin don't need some organized promotion going on because it's only normal for people to share the things that they are up to at the moment. If you're a bitcoin enthusiast, you can't stop talking about it especially when you know that the other person knows the basic things of economics. This thing is revolutionary. The idea never dies. Even when everyone stopped talking about bitcoins, and then after a few years someone found out or thought of the idea again, it will spread once again.
Basically just the word of mouth. We don't need to put up advertisements on the Internet or in the television just to make people use bitcoins. You literally don't have to do anything at all since people will adopt on whatever's the trend or whatever's new.
Jump to: