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What are the disadvantages of Bitcoin?

  • Adoption - There are still a lot of people who don't know about Bitcoin. More businesses are accepting Bitcoin every day because they want to benefit from it, but the list is still small and more businesses need to support Bitcoin in order to benefit from the network effect.
  • Volatility - The total value of Bitcoin in circulation and the number of businesses using Bitcoin are still very small compared to their potential size. Therefore, relatively small events, transactions or business activities can significantly affect its price. In theory, as the market and technology for Bitcoin mature, this volatility will decrease. The world has never seen a new currency before, so it is really difficult (and exciting) to imagine how it will progress.
  • Stage of Development - The Bitcoin software is still in beta, and many unfinished features are in active development. New tools, features and services are being developed to make Bitcoin more secure and usable by the general public. Some of these features are not yet available to every user. Most Bitcoin businesses are new and do not offer insurance yet. Overall, Bitcoin is still in the process of maturing.