Bitcoin, the most popular virtual currency in the market today, continues to draw significant buzz. The technology behind the currency is genuinely revolutionary. It is at the forefront of a new world for payment systems around the world. However, despite the excitement and hype surrounding its introduction to the marketplace, bitcoin suffers from some significant and legitimate drawbacks that may permanently limit its adoption in the mainstream economy. While some see potential for bitcoin to form the foundation for a robust and secure electronic fiat currency, adjustments will need to be made for the currency to gain widespread usage.