Bitcoin advantages
No government controls the Bitcoin network every user who joins the Bitcoin network automatically guarantees the operation of the protocol. Users have significantly more control over their personal information and financial data as opposed to those who use fiat money such as dollars and euros but also digital payment methods such as credit cards. They also face fewer risks of identity theft than others digital payment methods and currencies. Encryption makes cryptocurrencies more secure and less vulnerable to information like username, date of birth, and current or previous address.
The hash rate on the Bitcoin network, which is a unit of measurement of total computing power needed to confirm transactions on the Bitcoin blockchain, is constantly growing.
This way the network becomes more secure in the probability of a 51% attack (when someone tries to manipulate the network to their advantage) thus ensuring that the common truth of the universal blockchain is protected. A 51% attack would enable miners to prevent new transactions from being recorded, prohibit their confirmation and completion, change the order and reverse transactions in their favor.
Bitcoin disadvantages
Governments can try to limit, regulate or outlaw Bitcoin as has been done in the past e.g., in China. In addition, Bitcoin has a lot of volatility as a currency something that people, banks and various governments criticize it for. Also, high volatility would create a problem for many traders, as they fear a drop in price. Bitcoin it is still used to pay for illegal operations and money laundering.
Not tipping Bitcoin transactions is not always good because in an attack case, an erroneous or fraudulent transaction can quickly become a big problem. Anything electronic should be reversible.
Finally, the wallet password is not recoverable. If a user forgets his password, the funds in his wallet will be useless.