Bitcoin is not perfect, and that's okay. - page 4.

Kakmakr

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You are 100% correct....

Should we stop using telephones and mobile phones because terrorists and drug dealers also use it to talk to communicate? There has not been a single technology that has not been exploited by criminals, but the Bitcoin competitors and haters are using all these criminal activities as examples to not support Bitcoin use. Roll Eyes

Banks have a lot more problems than Bitcoin has, just look at all the flaws that exist in their technology... "Charge backs / SIM swapping / ATM kidnappings / Hacking of online Banking clients etc..."

I take Bitcoin over Banks every day of the week. Wink

michellee

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Quote from: bettercrypto on November 10, 2023, 06:29:41 PM

Even though Bitcoin is not perfect, it still helped many people who believed in what it could do in terms of financial solutions in every human life around the world to open their minds to this field of industry.

But even though they think Bitcoin is no longer good, the percentage continues to increase, making it popular and a reason for investors around the world to trust it even more. Why is that? That's because they can't prove that Bitcoin is bad in the reality that is happening now every time it comes to us.

Nothing is perfect if it is man-made, as with Bitcoin. But so far, Bitcoin has been perfect for me because Bitcoin has provided many benefits for me and other people. All of us who have known Bitcoin for a long time have already benefited from that.

We can also accept that Bitcoin is not perfect. And those who think Bitcoin is imperfect will probably regret it when they see Bitcoin will become more and more popular in the future. They will not be able to follow Bitcoin's journey, especially if they still think negatively about Bitcoin.

They should try to accept Bitcoin as it is. And they can also take advantage of the benefits that Bitcoin brings to them. After they get the benefits from Bitcoin, they can judge whether Bitcoin is imperfect or whether Bitcoin is perfect after they get the benefits from Bitcoin.

mindrust

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Bitcoin doesn’t have to be perfect. It just needs to be good enough and it is good enough. If you need to use bitcoin, you can always do that because the network is up and running like it has been since 2009 or smth.

How do you define “perfection” anyway? To some people bitcoin isn’t perfect because it is not fully anonymous but the governments/businesses don’t like fully anonymous crypto currencies for this exact reason. Some people think btc is not perfect because it has small blocks but some people think having a decentralized network is way more important than having bit blocks.

It is always an exchange. You get something but you’ll have to give up on something else. Impossible to please everyone.

Mauser

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Quote from: Alpha Marine on November 08, 2023, 09:27:09 AM

Democracy and capitalism are not perfect, but we all want them. Why? Why don't we ditch democracy and practice a perfect system instead?
Every human being having and enjoying their human rights is not perfect so let's ditch that also.

As Bitcoiners, it's okay to accept that Bitcoin has flaws but those flaws do not in any way make it inferior. The fact that about 0.25% of all cryptocurrency activities are associated with illicit activities according to

What would be the perfect system instead of democracy? As far as I know there hasn't been any system that is fairer to the majority of people, which obviously doesn't mean democracy is perfect and there will be no misuse of power. Also why are people enjoying human rights no perfect? It's much better to have every human choose for himself than to have dictatorship where one person makes decisions for millions of people without any repercussions. Civilization always has advanced with the time and so does the financial system. I would argue that the majority of negative quotes against crytpo currencies also hold true for any other currency. For example, crimes are committed in any country on the world and in any currency. If we would remove crypto currencies all together, it doesn't mean that crime is going to stop overnight. Or what is wrong with a volatile market, looking at some other currencies or stocks we can see that there is a lot of volatility as well. If a security is being traded all around the world actively, then high volatility is going to happen during times of crisis.

bettercrypto

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Quote from: yudi09 on November 09, 2023, 07:29:19 AM

Quote from: Alpha Marine on November 08, 2023, 09:27:09 AM

Bitcoin is not perfect and so is every other innovation man has created.
Not perfect in the sense that it has pros and it also has cons.
-snip-

Not perfect because they don't have to control Bitcoin like they do in fiat currencies.
Bitcoin will not be perfect for them forever as long as Bitcoin is still present in all transaction activities. They don't want to acknowledge Bitcoin by saying various negative things, for me it doesn't matter because Bitcoin continues to be active either as currency in every transaction or as an investment asset.
The stronger they create FUD on Bitcoin, the more Bitcoin continues to gain trust.

Even though Bitcoin is not perfect, it still helped many people who believed in what it could do in terms of financial solutions in every human life around the world to open their minds to this field of industry.

But even though they think Bitcoin is no longer good, the percentage continues to increase, making it popular and a reason for investors around the world to trust it even more. Why is that? That's because they can't prove that Bitcoin is bad in the reality that is happening now every time it comes to us.

serjent05

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Quote from: Winterfrost on November 10, 2023, 05:02:01 PM

The only perfect creation is God. Humans creation has limitations and Bitcoin is no exception. The vision was implemented accurately by Satoshi and because of the solid foundation it has remained and acquired mainstream from various individuals world wide.

It is self-explanatory, since Bitcoin is created by a human who has a limitation, it is expected that Bitcoin will have its flaws. Regardless, what important here is the innovation that Bitcoin brings to the table. Bitcoin enables the trading and global participation of the unbanked and that itself is already a great feat.

Quote from: Winterfrost on November 10, 2023, 05:02:01 PM

When it comes to crimes. Just like gun and other tools are used to commit crime Bitcoin is not a tool used to commit crime. It is a means of payment and no transaction was performed forcefully out of the senders will to send payment to the criminals. Angry

Bitcoin as a tool can't do either good or bad. It is the users that decide how they will use Bitcoin.

Quote from: Renampun on November 10, 2023, 04:38:19 PM

However, FUD against Bitcoin is very difficult to stop, we will continue to hear FUD news that vilifies Bitcoin and the most frequent is the narrative about Bitcoin being used by criminals to make transactions. as a bitcoiner, we actually need to provide clarification to people who always link bitcoin with criminal activity, bitcoin is not like that, previously fiat was a medium of exchange that was always used by criminals, even now this still continues but why are they only highlighting the misuse of bitcoin by criminals, as long as we remain strong then all types of FUD are just a passing wind.

There will be always some individuals who want to manipulate the market in order to gain profit. So FUD, Hype, and FOMO are always present in every market. It will exist forever so we should be accustomed to it and should verify any information that is being leaked or announced before making a decision in trading/investment.

Cryptomultiplier

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For me, BTC isn't perfect, but it appeals to the band of users who find it helpful for across border payments and lower fee transactions.
The important thing is to note that BTC is money unlike any other kind of paper money out there and it depends on the choice of the user to gain more value.
It ain't physical cash, but it sure makes reasonable gain in the long run if saved up, due to its rising value and usership.

Winterfrost

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The only perfect creation is God. Humans creation has limitations and Bitcoin is no exception. The vision was implemented accurately by Satoshi and because of the solid foundation it has remained and acquired mainstream from various individuals world wide.

When it comes to crimes. Just like gun and other tools are used to commit crime Bitcoin is not a tool used to commit crime. It is a means of payment and no transaction was performed forcefully out of the senders will to send payment to the criminals. Angry

Ojima-ojo

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Quote from: pooya87 on November 08, 2023, 09:45:27 AM

Quote from: Alpha Marine on November 08, 2023, 09:27:09 AM

doesn't make it the "tool for terrorism" as the governments want people to believe.

Is this really a thing that governments are discussing these days? Because the other day I saw another topic around the same subject here and despite the FUD about illicit usage being old it makes me wonder whether they are starting it up again?

We have moved beyond the time where we pay attention to what propaganda of Bitcoin perceived illicit usage which is in small proportion compared to the government own currencies which have been widely used by terrorists, and other barons kidnappers and the rest without any hope on sight to limit such usage of the fiat money to fund illegal deals.

So for that, we have chosen to take the government for what they are, and that is an anti-freedom of the citizens since kicking against what they can't control despite its nature of being a secure alternative.

Renampun

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Quote from: Alpha Marine on November 08, 2023, 09:27:09 AM

Bitcoin is not perfect and so is every other innovation man has created.
Not perfect in the sense that it has pros and it also has cons.

"Bitcoin transaction is irreversible". I would have loved it to be, but there are reasons why it's not. Also, a transaction that was made from one bank account to another is irreversible too. So it's not new.

"The bitcoin market is too volatile and unstable"
So are the forex market and stock exchange market.

"Bitcoin is used to commit crimes". (The lamest).
So does the Internet, phones, computers, guns, and all. Even harmless things like vehicles, boats, and ships are used to commit crimes.

Terrorism has always been funded with fiat currencies since before the inception of Bitcoin. You can walk into a bank and withdraw $10k cash from your account and you do not know if the money was deposited into the bank by a human trafficker.
I don't see anybody fighting fiat because it's used to fund terrorism.

Democracy and capitalism are not perfect, but we all want them. Why? Why don't we ditch democracy and practice a perfect system instead?
Every human being having and enjoying their human rights is not perfect so let's ditch that also.

As Bitcoiners, it's okay to accept that Bitcoin has flaws but those flaws do not in any way make it inferior. The fact that about 0.25% of all cryptocurrency activities are associated with illicit activities according to Chainalysis doesn't make it the "tool for terrorism" as the governments want people to believe.

However, FUD against Bitcoin is very difficult to stop, we will continue to hear FUD news that vilifies Bitcoin and the most frequent is the narrative about Bitcoin being used by criminals to make transactions. as a bitcoiner, we actually need to provide clarification to people who always link bitcoin with criminal activity, bitcoin is not like that, previously fiat was a medium of exchange that was always used by criminals, even now this still continues but why are they only highlighting the misuse of bitcoin by criminals, as long as we remain strong then all types of FUD are just a passing wind.

Japinat

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Quote from: Texac on November 09, 2023, 07:15:45 AM

Quote from: Blitzboy on November 09, 2023, 07:00:57 AM

If someone says that Bitcoin is used for illegal things, we should really look at the bigger picture. Human intention, not intrinsic qualities, determines the use or misuse of all tools and technologies. Why is Bitcoin often singled out? Maybe a fear of the unknown or reluctance to adopt a system beyond customary controls?

Strictly speaking, it is due to human behavior, and no property or product is created solely for illegal or criminal use. but we also need to admit that the decentralized and anonymous nature of bitcoin makes criminals prefer bitcoin because if they use bitcoin, it will be very difficult for the government and the law to track them. but bitcoin was created to bring privacy, creating financial freedom for everyone, not just criminals. and crime still exists today, it's the government's fault and no one else's.

Illegal activities have been rampant already even before the inception of bitcoin so its obvious that even with fiat alone, committing crimes has already become a norm. But since the government is here to protect their fiat, so the people have no right to complain about fiat. But with the existence of bitcoin that becomes a threat to fiat and its government due to its decentralization nature, the government has find a good reason to put all the blame in bitcoin.

In reality, bitcoin is just a tool and it has no capabilities to manipulate the people to do illegal activities. But with greed that has motivated the people to behave illegally, then that could be the big reason why these type of people have resort into making illicit activities because they have taken advantage on the anonymous nature of bitcoin and use it on its wrong purposes.

Miles2006

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Quote from: Lorence.xD on November 09, 2023, 07:27:09 AM

Quote from: Assface16678 on November 08, 2023, 10:58:30 PM

I don't see how the statements made by the OP will be considered flaws because that is the characteristic of bitcoin—the nature of bitcoin itself. In fact, that is the beauty of bitcoin: its unique technology and characteristics that give investors opportunities. Volatile? I don't see that as a flaw. Yes, maybe from its word, but in bitcoin, it means profit potential. If there's no movement in the market, then there's no profit.

I agree with all the OPs who stated that not all things are perfect, even bitcoin. Yes, it can be subject to crimes and wrong deeds, but that is not the fault of bitcoin; the ones to blame are the people who commit the crimes.

So no matter what, I will still believe and do bitcoin stuff as long as I gain profit from it. This technology still has a lot to discover and can be applied to other technologies and daily lives.

There are a lot of things that have actually flaws, even other alternative investment also involves flaws cause there's no such thing as pros without cons. Bitcoin's volatility is one of the reasons why it's not yet used as an everyday currency cause you wouldn't want to sell something valuable when Bitcoin's value is low. We were just taking advantage of its volatility by simply buying at low and then selling at its highest price. But yeah from the investor's perspective, it might not be considered a flaw since that is the reason for our profits cause volatility is actually normal.

I think now in this modern world everyone wants something good even criminals, terrorist etc and it's likely said by people that bitcoin funds terrorist and putting the blame on bitcoin rather than blaming the terrorist but we can't help so we keep defending bitcoin, I don't see any flaws about bitcoin the fact is even those terrorist knows the important and it has to do with privacy so they go for it and all this should be attributed to bad government. This is actually normal cause if we want to count investments that has flaws we should be ready to mention all investments.
I don't see any need talking about volatility in bitcoin cause investors benefit from the volatility, without the fluctuating price of bitcoin then we should not call it an investment, I will rather call it a store of value but the fact remains that investors take advantage of the volatility.

MinoRaiola

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Quote from: Alpha Marine on November 08, 2023, 09:27:09 AM

Bitcoin is not perfect and so is every other innovation man has created.
Not perfect in the sense that it has pros and it also has cons.

Okay, right. But Bitcoin is secure against manipulation or fake money. I dont mean all the scams, I mean the blockchain. If you compare it to cash, then you are better with Bitcoin in your Pocket. Gold can be manipulated in the substance of the material and if you are not pro, you might get fooled. Bitcoin forks cannot be perfect because they were copied from a perfect one?

fullhdpixel

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Quote from: coinremitter on November 09, 2023, 06:57:48 AM

Absolutely, like any innovation, Bitcoin has its strengths and weaknesses. It's essential to acknowledge its imperfections while highlighting its advantages. Bitcoin's transparency and security make it valuable, despite its occasional use in illicit activities. The key is to understand and address the challenges while embracing the potential for financial inclusion, decentralized finance, and borderless transactions that Bitcoin offers. As a crypto payment gateway, Coinremitter also aims to enhance the benefits of cryptocurrencies while addressing concerns through secure and user-friendly solutions.

For some people it was only the imperfections, and the disadvantages is the ones that they see, making them to avoid and hate BTC. There are also people who are the complete opposite, in which they only see the benefits but disregard the downside, making them still fail later on and ended up complaining.

It is important to be balanced and not just to focus on one side only. Any currency can be used by a criminal so we shouldn't only focus in BTC but like others, there is also a solution now to combat them and that is by implementing certain regulations. This is the way that the government thinks of to continue adopting Bitcoin, and maybe some people as well because they are now feeling secured.

God bless u

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Quote from: Alpha Marine on November 08, 2023, 09:27:09 AM

Bitcoin is not perfect and so is every other innovation man has created.
Not perfect in the sense that it has pros and it also has cons.

Everything has certain pros and cons and no body can ignore it and if we wants success then we will work and will accept the business with both pros and cons. Not a single business can give you pure and 100 percents ease to obtained profitable results. We should use its advantageous characteristics only and don't forget that there is always a solution to each problem always.

Quote from: Alpha Marine on November 08, 2023, 09:27:09 AM

"The bitcoin market is too volatile and unstable"

Bitcoin is volatile it is true but also keep in mind that because of this volatility more people are investing in it and if there is a constancy in worth then enhancing money would not be easy as it is now. You will find a way of earning that has no negative effects but actually such way of earning does not exist.

yudi09

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Quote from: DanWalker on November 09, 2023, 11:32:03 PM

Quote from: yudi09 on November 09, 2023, 07:29:19 AM

-snip-

Who are they?

Do they have such thoughts? I think they don't have a healthy mind about Bitcoin.

Quote from: DanWalker on November 09, 2023, 11:32:03 PM

I am a bitcoin investor, but I myself have not seen bitcoin as perfect, and I have not seen a great invention that is 100% perfect to the point of having no drawbacks. Everything has advantages and disadvantages, but the disadvantages of bitcoin are not too big while the advantages and benefits of bitcoin are too many. What's more important is that bitcoin provides and solves the problems we want to solve, so the disadvantages of bitcoin are nothing worth mentioning.

I am also an investor. Bitcoin shortcomings are covered by many advantages and benefits. Bitcoin's shortcomings may provide an opportunity for people who want to provide input into development because Bitcoin is open-source; its design is public, nobody owns or controls Bitcoin and everyone can take part.^[1]
In my opinion, these disadvantages are included in the advantages. I also admit that everything has advantages and disadvantages.

Quote from: DanWalker on November 09, 2023, 11:32:03 PM

And not everyone has the same thoughts and needs, so it's not surprising that many people don't like bitcoin. Bitcoin cannot please everyone.

Do they have such thoughts? I think they don't have a healthy mind about Bitcoin.

Blitzboy

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Quote from: Webetcoins on November 09, 2023, 02:10:50 PM

I thought the "Bitcoin is a criminal" was a very old thing and both people and governments have gone passed that thing already, but if they are still dragging it and trying to make Bitcoin look negative in this manner, I think those who believe this thing will only regret doing so in the future just like the ones who are regretting today for believing the words of mainstream media back in the day when they were making Bitcoin look bad by calling it different names one of them being "a criminal currency".

I still remember the time when people wouldn't even listen a word about Bitcoin and start talking rubbish about it just because they have heard all the negative things about it from either mainstream media or government official and even from social media influencers who doesn't even know a thing.

Indeed, the idea that Bitcoin is criminal is outdated. Blockchain's transparency often exceeds traditional banking systems, but it's a superficial label that's hard to remove. The regret you mention is true, and this stereotype shows how first impressions stick in the public consciousness. People keep the first information they get, and Bitcoin's public rehabilitation has taken a long time.

Remember, fear of the unknown is human nature. When Bitcoin first came out, no one knew what to do with it. Its no surprise worries and misinformation grew there. Major media and authorities shape images before a collective knowledge can develop. That affect might stay like a shadow after the substance changes.

However, the tide is turning. Bitcoin's resilience and adoption reject the 'criminal' label. Its becoming evident that this technology offers more than a criminal shelter. It offers financial independence, efficiency, and unprecedented global financial inclusion. Its not just about being pro-Bitcoin; its about being pro-innovation, pro-growth, and pro-freedom. Those who are delaying may regret missing out on a financial revolution.

libert19

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Oh I thought it'd more like Bitcoin transaction fee stuff/scaling issues.

Quote from: Alpha Marine on November 08, 2023, 09:27:09 AM

Democracy and capitalism are not perfect, but we all want them. Why? Why don't we ditch democracy and practice a perfect system instead?

If there was better system than what is available right now, then certainly it'd have been implemented. What I believe is, human being himself is by nature imperfect, so his discoveries can't be perfect.

DanWalker

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Quote from: yudi09 on November 09, 2023, 07:29:19 AM

Quote from: Alpha Marine on November 08, 2023, 09:27:09 AM

Bitcoin is not perfect and so is every other innovation man has created.
Not perfect in the sense that it has pros and it also has cons.
-snip-

Not perfect because they don't have to control Bitcoin like they do in fiat currencies.
Bitcoin will not be perfect for them forever as long as Bitcoin is still present in all transaction activities. They don't want to acknowledge Bitcoin by saying various negative things, for me it doesn't matter because Bitcoin continues to be active either as currency in every transaction or as an investment asset.
The stronger they create FUD on Bitcoin, the more Bitcoin continues to gain trust.

Who are they? I am a bitcoin investor, but I myself have not seen bitcoin as perfect, and I have not seen a great invention that is 100% perfect to the point of having no drawbacks. Everything has advantages and disadvantages, but the disadvantages of bitcoin are not too big while the advantages and benefits of bitcoin are too many. What's more important is that bitcoin provides and solves the problems we want to solve, so the disadvantages of bitcoin are nothing worth mentioning. And not everyone has the same thoughts and needs, so it's not surprising that many people don't like bitcoin. Bitcoin cannot please everyone.

Webetcoins

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I thought the "Bitcoin is a criminal" was a very old thing and both people and governments have gone passed that thing already, but if they are still dragging it and trying to make Bitcoin look negative in this manner, I think those who believe this thing will only regret doing so in the future just like the ones who are regretting today for believing the words of mainstream media back in the day when they were making Bitcoin look bad by calling it different names one of them being "a criminal currency".

I still remember the time when people wouldn't even listen a word about Bitcoin and start talking rubbish about it just because they have heard all the negative things about it from either mainstream media or government official and even from social media influencers who doesn't even know a thing.

Topic: Bitcoin is not perfect, and that's okay. - page 4. (Read 1223 times)