Topic: ㅤ - page 2. (Read 983 times)

I myself have seen such criticisms, it should also include:

• Bitcoin Can Be Cloned
• Bitcoin is a Bubble
• Bitcoin Fails As a Currency
• Bitcoin Can't Scale

This has been in the front of criticism of bitcoin by most people especially those in government which is one reason they give for not adopting bitcoin into their constitution a a means of payment just as fiat. This though has not stopped the use of bitcoin by large majority, the use of bitcoin has increased from it early stage.

People tend to criticize what they don't believe or what they don't fully understand, or that doesn't meet their standards. Since Bitcoin was created and since it started gaining its momentum, Bitcoin had been criticized, and guess what some or maybe most of the people who doubted and criticized crypto are now investors or even supporters of it. People are always scared of change, innovation, and what is new so they question it.

Bitcoin Cash tried to become the number one cryptocurrency, but suffered a crushing defeat.

Monero is a highly toxic cryptocurrency.

Ethereum is an experimental cryptocurrency, there is no certainty that these experiments will not lead to its death.

There is currently no alternative to Bitcoin.

people loves to criticize what they believe is wrong but that mindset suddenly changed when they see that bitcoin is now starting to get popular . now many people throw away thier pride and finally joined bitcoin .

government acceptance and other forms of marketing can really help spread awareness , if these things are only easy we can remove peoples doubts effortlessly and gather them on here .

People tend to criticize what they don't believe or what they don't fully understand, or that doesn't meet their standards. Since Bitcoin was created and since it started gaining its momentum, Bitcoin had been criticized, and guess what some or maybe most of the people who doubted and criticized crypto are now investors or even supporters of it. People are always scared of change, innovation, and what is new so they question it.

One can criticize Bitcoin as much as one wants, but any criticism can be answered with a fairly well-founded counter-criticism as shown in the OP. 

"1. Bitcoin is too volatile to be a store of value."

What was that stable a few months ago when everything that is traditionally considered a store of value has lost its value? When someone loses their investment in BTC then it is a problem and when the same happens with stocks or gold then it is a normal occurrence.

"2. Bitcoin has failed as a means of payment."

The problem is not in the BTC itself (at least not completely), but let's be honest still its complexity when it comes to payments. In comparing card payments were sometimes no PIN or signature is required for authorization, you still need to have a little more technical knowledge to pay for something with Bitcoin. I’ve certainly paid with BTC hundreds of times over the years and it’s never been a problem for me - and the offer of online stores is growing every day.

"3. Bitcoin is wasteful."

In comparison with what? This false story is already so worn out that it is still pulled out of the closet only by complete ignoramuses or trolls for whom mathematics is not a strong point. The amount of energy consumed by electronic devices in stand-by mode in the US alone is many times higher than the total annual consumption consumed by BTC.

"4. Bitcoin is used for illicit activity."

The ratio of fiat to crypto in illegal activities is somewhere between 98% and 2%, maybe even more in favor of fiat - because criminals do not necessarily have to be smart, but they have obviously realized that it is much easier to control a blockchain than a fiat that goes out of hand in hand.

"5. Bitcoin is not backed by anything"

The greatest strength that BTC has is precisely the millions of people who own it and determine its value. They realize what they have in their hands, and that is definitely something better than a fiat that is backed by corrupt banks and rotten governments.

"6. Bitcoin will be replaced by a competitor."

Who says that? Those who have claimed and still claim that BCH or BSV is something much better than BTC, or the creators of the thousands of shitcoins who copied the original and most have failed within a year of appearing? Creating a crypto coin is the least problem, convincing people that it is better than Bitcoin is something that has very little chance of happening.

That's why other governments tend to be hesitant to fully legalized bitcoin because of this issue--they are using it in illegal activities. Well, criminals are doing all the way aside from cash and they thought using bitcoin will finally mask their identity.

It's neither true, nor false. Like cash Bitcoin can be used for criminal activity, but it isn't the only use case.

Criticism will always be a part and become a normal to any existent thing in this world for we individuals do have different perceptions towards something and those differences becomes a thing that serves as an observant type to criticize something that we usually do not fully understand what it is truly about. Criticizing something can be a good point to see flaws in a system or an object that will serve as a starting point to undergo certain improvement. People have initially judged Bitcoin ever since it have existed, many false accusations, lots of rumors spread but still look how tough Bitcoin is after all. This just show how criticism does not barely affect Bitcoin after all but it just makes it a lot more stronger than before due to certain improvements happening on it. Criticism will always be there at times, what the important thing is that you do know what exactly you stand with and do not get along with certain here says by other people about Bitcoin.

And when the government rejects bitcoin, it only makes bitcoin more popular and reliable for crypto users to make profit during today's pandemic.  I agree with you.  today many people believe in bitcoin.  Crypto users are always alive, although bitcoin almost made me doubt when within 2 years bitcoin was stable and it was difficult to reach the moon.

This has been in the front of criticism of bitcoin by most people especially those in government which is one reason they give for not adopting bitcoin into their constitution a a means of payment just as fiat. This though has not stopped the use of bitcoin by large majority, the use of bitcoin has increased from it early stage.