bitcoin is the first of its kind (at least the first one that became big and popular on a large scale). and it has also been receiving improvements, bug fixes, etc. so it is understandable that it is not perfect. there are always weaknesses in every system and anything that claims to have none is clearly lying.
however i'd say these weaknesses are not at all serious or a reason to call bitcoin "not perfect".
Topic: bitcoin is not Ideal, it represents possibilities. - page 4. (Read 25558 times)
Three years ago or two years ago, if you asked me what Bitcoin is, I’d tell you it is the future of money. It is managed by the network, not by the government. Plus, it is private, anonymous and fast. It’s just perfect!
And Bitcoin is proved very successful. But it has inherent risks like anonymity, hacking，51%attack, double spending. Stop imagining bitcoin is perfect. No coins are perfect. I’d say bitcoin means more about possibilities, possibilities of expression of value. Before, I’ve been taken it for granted that the government should control currencies. But now I’d like to take a moment to think of the question:
“What is the nature and origin of money?”
And Bitcoin is proved very successful. But it has inherent risks like anonymity, hacking，51%attack, double spending. Stop imagining bitcoin is perfect. No coins are perfect. I’d say bitcoin means more about possibilities, possibilities of expression of value. Before, I’ve been taken it for granted that the government should control currencies. But now I’d like to take a moment to think of the question:
“What is the nature and origin of money?”
Looks like you have just woke from a long nap, I really don't know which year you are exactly trying to draw attention to. As far the attacks Bitcoins is unhackackble, if you are trying to say exchanges were attacked then those exchanges of course are not fool proof, it's been said again and again not to trust them. No Bitcoin has ever been hacked. Wake up, read around the forum you may wish to change your words.
Three years ago or two years ago, if you asked me what Bitcoin is, I’d tell you it is the future of money. It is managed by the network, not by the government. Plus, it is private, anonymous and fast. It’s just perfect!
after 3 or so years I am still saying a similar thing, although I never used the word "anonymous" I prefer calling it "giving you a better privacy if you know how to" and I would never call it perfect but only because NOTHING is perfect. but bitcoin is the best thing that I have seen so far. many others claim to be better, some even come close but nothing could compete with bitcoin so far.Quote
But it has inherent risks like anonymity,
what is "risk like anonymity" how can it be a risk?Quote
hacking，
bitcoin has never been hacked and for many years to come, it can not be hacked. the cryptography level that it uses is good enough to prevent it and in case some vulnerability was found it will affect a lot of things, not just bitcoin. and it can be patched.hacks have always happened because of people's mistakes. like having a key logger, having no password on your wallet, not using cold storage,...
Quote
51%attack, double spending.
I wouldn't call these as "risks". these are small possibilities that also can be prevented.Quote
Stop imagining bitcoin is perfect. No coins are perfect.
it is best to have a better understanding of the advantages and disadvantages (or if you like calling it risks) of bitcoin or anything for that matter before starting to use it and try to learn then from reliable resources not what you read on the internet from random source or what your personal understanding is. they can be very wrong. 
I stopped reading after you said bitcoins are anonymous. Obviously if you present false information in your statement your whole post is going to be stupid bullshit FUD.
TD;DR, OP is going to use shitcoins for his big important purchases now. Thanks for dropping by. Don't let the door hit you on the way out.
TD;DR, OP is going to use shitcoins for his big important purchases now. Thanks for dropping by. Don't let the door hit you on the way out.
where bitcoin is anonymous if you don''t reveal your name attached to your address, which is the same as any other coins, otherwise you have a different definition of anonymous here
in fact the possibility to track each address don't make bitcoin not anonymous...
Where are the real life cases of double spending?
this is one https://bitcointalksearch.org/topic/a-successful-double-spend-us10000-against-okpay-this-morning-152348 and i remember at least another but i can't find it at the moment
I stopped reading after you said bitcoins are anonymous. Obviously if you present false information in your statement your whole post is going to be stupid bullshit FUD.
TD;DR, OP is going to use shitcoins for his big important purchases now. Thanks for dropping by. Don't let the door hit you on the way out.
by anonymity, i only mean that's the first impression of bitcoin to many people. of course, the pseudonymous is more accurate. TD;DR, OP is going to use shitcoins for his big important purchases now. Thanks for dropping by. Don't let the door hit you on the way out.
Bitcoin can't be hacked, it's impossible. Even 51% attacks wouldn't be hacks, they'd just be attacks on transactions. Double spending isn't really very much of a threat unless it has no confirmations - a lot of the reason we have mining is to fix the double spend problem.
A lot of the problems you mention don't exist. Anonymity isn't even a problem, and if people want anonymity they'll gradually move to real anonymous coins like Monero, and illegal activity will just be a side effect so it doesn't really matter that they're used for illegal activity. Cash is as well.
Bitcoin isn't perfect but you're looking at the wrong things as problems.
Yes,the problems you mentioned are not at all an issue.Bitcoin cannot be hacked at any time.I do accept that bitcoin is not perfect.But i could surely say that bitcoin is far better than the existing centralized currencies. A lot of the problems you mention don't exist. Anonymity isn't even a problem, and if people want anonymity they'll gradually move to real anonymous coins like Monero, and illegal activity will just be a side effect so it doesn't really matter that they're used for illegal activity. Cash is as well.
Bitcoin isn't perfect but you're looking at the wrong things as problems.
I stopped reading after you said bitcoins are anonymous. Obviously if you present false information in your statement your whole post is going to be stupid bullshit FUD.
TD;DR, OP is going to use shitcoins for his big important purchases now. Thanks for dropping by. Don't let the door hit you on the way out.
A bit of rephrasing would make it easily correct - "Bitcoin can be solely pseudonymous, making it anonymous for practical purposes as long as you take various steps involving anonymising your own Internet connection and using mixing services, or at least dramatically closer to anonymous than digital fiat currency as long as you're careful enough". TD;DR, OP is going to use shitcoins for his big important purchases now. Thanks for dropping by. Don't let the door hit you on the way out.
But that doesn't sound so nice in a post like this, so why be pedantic?
I stopped reading after you said bitcoins are anonymous. Obviously if you present false information in your statement your whole post is going to be stupid bullshit FUD.
TD;DR, OP is going to use shitcoins for his big important purchases now. Thanks for dropping by. Don't let the door hit you on the way out.
TD;DR, OP is going to use shitcoins for his big important purchases now. Thanks for dropping by. Don't let the door hit you on the way out.
The world is going towards IoTs (internet of things). Everything will be connected in future. The missing part is money. Although online bank transactions and credit card payments contribute to the online concept, but still there is a need of a strong cryptocurrency to become a Pivot point in IoTs. So far, Bitcoin is a strong candidate, but I agree there are a lot of problems regarding the security of something which is online... Special protocols are required to safeguard Bitcoins from adversaries.
Where are the real life cases of double spending?
I have few arguments such as :
1. Bitcoin isn't anonymous, but only pseudonymous and user need efforts to keep their anonymity. If user only use few address, anyone could track him/her easily.
2. Hacking is impossible, otherwise many hackers/government already hacked bitcoin.
3. 51% attack doesn't mean take control over bitcoin network or attack bitcoin network (CMIIW)
4. Double spend is impossible by now, miners simply confirm transaction that have earlier LockTime and reject the others.
I can agree that no coins/currencies is perfect, but those aren't real bitcoin problems.
1. Bitcoin isn't anonymous, but only pseudonymous and user need efforts to keep their anonymity. If user only use few address, anyone could track him/her easily.
2. Hacking is impossible, otherwise many hackers/government already hacked bitcoin.
3. 51% attack doesn't mean take control over bitcoin network or attack bitcoin network (CMIIW)
4. Double spend is impossible by now, miners simply confirm transaction that have earlier LockTime and reject the others.
I can agree that no coins/currencies is perfect, but those aren't real bitcoin problems.
Bitcoin can be hack? Impossible.
I guess your were talking about the bitcoin exchanger sites that got hack? Right.
51 percent attack is just spamming the network with transactions but the solution is miners. Double spending the solution is also miners.
Bitcoin's only major crisis right now is it's stagnant scaling problem.
I guess your were talking about the bitcoin exchanger sites that got hack? Right.
51 percent attack is just spamming the network with transactions but the solution is miners. Double spending the solution is also miners.
Bitcoin's only major crisis right now is it's stagnant scaling problem.
Three years ago or two years ago, if you asked me what Bitcoin is, I’d tell you it is the future of money. It is managed by the network, not by the government. Plus, it is private, anonymous and fast. It’s just perfect!
And Bitcoin is proved very successful. But it has inherent risks like anonymity, hacking，51%attack, double spending. Stop imagining bitcoin is perfect. No coins are perfect. I’d say bitcoin means more about possibilities, possibilities of expression of value. Before, I’ve been taken it for granted that the government should control currencies.
And Bitcoin is proved very successful. But it has inherent risks like anonymity, hacking，51%attack, double spending. Stop imagining bitcoin is perfect. No coins are perfect. I’d say bitcoin means more about possibilities, possibilities of expression of value. Before, I’ve been taken it for granted that the government should control currencies.
You may have many questions on Bitcoin features and drawbacks. Well, everything in this mighty world has drawbacks. This is the basis of evolution. Same applies to Bitcoin and one of the major reason why we see more and more cryptocurrencies everyday is the lacks of Bitcoin. Just take a moment and go through Altcoins ANN section, you will see many coins claiming themselves to be superior than Bitcoin on these basis.
Bitcoin can't be hacked, it's impossible. Even 51% attacks wouldn't be hacks, they'd just be attacks on transactions. Double spending isn't really very much of a threat unless it has no confirmations - a lot of the reason we have mining is to fix the double spend problem.
A lot of the problems you mention don't exist. Anonymity isn't even a problem, and if people want anonymity they'll gradually move to real anonymous coins like Monero, and illegal activity will just be a side effect so it doesn't really matter that they're used for illegal activity. Cash is as well.
Bitcoin isn't perfect but you're looking at the wrong things as problems.
A lot of the problems you mention don't exist. Anonymity isn't even a problem, and if people want anonymity they'll gradually move to real anonymous coins like Monero, and illegal activity will just be a side effect so it doesn't really matter that they're used for illegal activity. Cash is as well.
Bitcoin isn't perfect but you're looking at the wrong things as problems.
Three years ago or two years ago, if you asked me what Bitcoin is, I’d tell you it is the future of money. It is managed by the network, not by the government. Plus, it is private, anonymous and fast. It’s just perfect!
And Bitcoin is proved very successful. But it has inherent risks like anonymity, hacking，51%attack, double spending. Stop imagining bitcoin is perfect. No coins are perfect. I’d say bitcoin means more about possibilities, possibilities of expression of value. Before, I’ve been taken it for granted that the government should control currencies. But now I’d like to take a moment to think of the question:
“What is the nature and origin of money?”
by hacked, i only mean btc exchanges and by 51% Attack, i mean hash power is seen as by many the king in the btc world; and by security, Large Bitcoin Collider is working to smash open btc wallets. http://news.8btc.com/bitcoin-is-not-ideal-it-is-an-expression-of-value
And Bitcoin is proved very successful. But it has inherent risks like anonymity, hacking，51%attack, double spending. Stop imagining bitcoin is perfect. No coins are perfect. I’d say bitcoin means more about possibilities, possibilities of expression of value. Before, I’ve been taken it for granted that the government should control currencies. But now I’d like to take a moment to think of the question:
“What is the nature and origin of money?”
by hacked, i only mean btc exchanges and by 51% Attack, i mean hash power is seen as by many the king in the btc world; and by security, Large Bitcoin Collider is working to smash open btc wallets. http://news.8btc.com/bitcoin-is-not-ideal-it-is-an-expression-of-value
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