Topic: Bitcoin is not perfect, and that's okay. - page 5. (Read 1223 times)
Bitcoin and other cryptocurrencies are being discussed judiciously in various countries around the world, and are starting to become more widely used in society. Bitcoin's security, management, and exchange are discussed at various times. However, it is still a technology whose reliability and durability are not fully guaranteed. When a state comes to power they conduct all the affairs of the state according to their rules. But Bitcoin is not governed by the rules of any state, Bitcoin is free in the world. The more valuable a person is, the more criticism he gets in the society. Bitcoin is just as valuable as it gets more and more critical. Bitcoin is moving at its own pace no matter what anyone says.
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.
One of the reasons why people are too afraid to use Bitcoin or even cryptocurrency is because of the impression given to us by different sources, for example in movies they are showing all of the cons using of cryptocurrency-related into illegal activities, crime, etc. with the current case scenarios people making a large amount of hacking, exploitation and etc. with the use of the bitcoin as one of their mode of payment, but in the brighter side and benefits of it they didn't seen too much just keep on negative side, this is why we know the essential and perks of using the crypto at all.
Not only Bitcoin, everything created by humans has its own advantages and disadvantages. However, there must be a comparison between the advantages and disadvantages, the higher percentage of advantages makes Bitcoin increasingly popular in various countries.
People's interest in Bitcoin is increasing because it is considered a very promising digital business opportunity today. I admit Bitcoin is not perfect because it has several flaws. However, Bitcoin is a remedy for the imperfections of the modern financial system. The great power of Bitcoin has made people in various countries place great trust in carrying out various kinds of transactions and can be used as an investment asset.
People's interest in Bitcoin is increasing because it is considered a very promising digital business opportunity today. I admit Bitcoin is not perfect because it has several flaws. However, Bitcoin is a remedy for the imperfections of the modern financial system. The great power of Bitcoin has made people in various countries place great trust in carrying out various kinds of transactions and can be used as an investment asset.
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.
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Not perfect because they don't have to control Bitcoin like they do in fiat currencies.Not perfect in the sense that it has pros and it also has cons.
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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.
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.
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.
We can't really blame Bitcoin for illegal things it has been involved in, it's just a simple tool in which you have the freedom to control your funds as well as have transactions globally by the use of digital currency which is Bitcoin. Due to its decentralization, most of the people are free to make use of it even for bad deeds. But these kind of issues we can still compare these to other things such as fiat which is also involved in this kind of thing, so there's no need to hate Bitcoin's "flaw" which is literally normal.
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.
Transaction irreversibility is important. This feature prevents some sorts of fraud, reflecting blockchain technology's strict ethics. However, it raises questions. What does perfect mean in the context of financial transactions? Flexibility, security, or something else?
Bitcoin's volatility is comparable to other financial markets, but its typically exaggerated. Any tradeable asset has peaks and valleys. Like the stock market, its an interaction of supply and demand driven by many factors.
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?
Bitcoin's volatility is comparable to other financial markets, but its typically exaggerated. Any tradeable asset has peaks and valleys. Like the stock market, its an interaction of supply and demand driven by many factors.
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?
Just like we hate fiat, hate banks but on the contrary, some people like to use them, there is nothing wrong with that as long as they are happy with their choice.
Bitcoiners do not hate fiat or banks in themselves, and that is because you cannot avoid using fiat or banks, you use it daily; what we oppose as Bitcoiners is the censorship and permissioned nature of fiat and banks, and since there is no way for us to change that, we have to use BTC for our money that we don't to be censored, and it is important not to use centralized exchanges when doing that, if not you are still being censored and your funds could be confiscated.
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.
It is not created to satisfy any individual, but rather to determine how we will accept its use. I also encountered similar prejudices from individuals, not only towards Bitcoin but also other areas of life satisfaction should be transformed into gratitude. Yes, I learned to be grateful for everything in life and to be grateful for every perspective on life from individuals, even if they oppose it. I understand the tool story that connects us and our selfgiving. The right itself represents the view of living freely, but there is no obligation to make it better.
Just like we like someone when that person doesn't meet our needs in that relationship, jealousy makes us potentially harmful to them. It's a pity that that love is just a narrow mindedness that wants to possess rather than hoping for good things to happen to them (and Bitcoin is similar).
Just like we like someone when that person doesn't meet our needs in that relationship, jealousy makes us potentially harmful to them. It's a pity that that love is just a narrow mindedness that wants to possess rather than hoping for good things to happen to them (and Bitcoin is similar).
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.
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.
"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.
Though this is correct, because once the transactions gets through it cannot be reverted, but there is something you can do with bank transfer to retrieve that money with the help of the bank and the recipient's cooperation.
However, for bitcoin you'll definitely leave with no option but to trace that address and ask the recipient to send back your bitcoin.
There's no form of money that is perfect btw. It can be used to bad things. Golds and any other forms of material has been used to pay criminals and terrorist long before the fiat was created.
Nothing in this world is perfect and pleases everyone, everything has its pros and cons, just like people, no one is perfect. That's why there will be people who love or hate bitcoin, and we shouldn't be upset if someone is against bitcoin. Life is colorful and we should not impose our thoughts on others. Just like we hate fiat, hate banks but on the contrary, some people like to use them, there is nothing wrong with that as long as they are happy with their choice. Everyone has their own choice, no one is wrong if they are satisfied with what they choose.
Yeah, it is ok for Bitcoin to be currently not perfect, what matters is the innovations, upgrades, and updates that lie ahead. It is okay if some of the features of Bitcoin are retained but it is best if many of its features will be developed to serve users more effectively.
If Bitcoin fails to adapt to the increasing demands and technological challenges, one day we might find Bitcoin to become obsolete and just a story of the past because it is believed that in this world those that survive are the one that is able to adapt to the changes and evolve.
If Bitcoin fails to adapt to the increasing demands and technological challenges, one day we might find Bitcoin to become obsolete and just a story of the past because it is believed that in this world those that survive are the one that is able to adapt to the changes and evolve.
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.
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.
Everything you said is correct; the only difficulty is that others tend to imply that Bitcoin or other cryptocurrency is harmful and a hoax. However, they do not demonstrate or state that each country's fiat currency can be used for both evil and beneficial purposes, depending on the holder of the money.
That indicates that in order to be balanced, everything we do must have both positive and bad components. As you stated, Bitcoin may be used for both good and evil, which is correct. That is why it is up to us to determine what our purpose is and why we want to own Bitcoin or another cryptocurrency.
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"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.
You can't be very sure about that, mate; it was something I experienced, and it almost caused me some disagreement with my client. I did a successful transaction and received a debit alert, but the client was not credited the value. Bitcoin transactions are irreversible, and the only way to be disadvantaged is when you wrongly send your assets to the wrong wallet. Even in the banking sector, you can also make mistakes and transfer money to the wrong account number, but the only solution is that you can go to the bank to rectify the issue. Knowing that Bitcoin transactions are irreversible, users should be very careful and always cross-check their wallets before making payments.
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"The bitcoin market is too volatile and unstable"
So are the forex market and stock exchange market.
So are the forex market and stock exchange market.
That's where the profit comes from too.
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?
It's really a thing.
Most times you'll see government officials talk about Bitcoin and how it promotes crimes.
In my country, if security agents ask you what you do for a living and you tell them you're a Bitcoin trader, they'll most likely treat you as a cyber-criminal.
It's something they don't understand, so they see it as a fraud.
It's funny because Bitcoin is not banned in my country, but trading Bitcoin is regarded as a scam.
And I understand them because a lot of scammers use Bitcoin trading as a front while they are carrying out their cyber crimes but that doesn't mean everybody that is involved in Bitcoin is a cyber criminal.
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.
It's wrong that somebody said that Bitcoin is not perfect. Bitcoin is perfect in all aspects. There is nothing lacking in his own position. If you meant that I need such a thing that has nothing to stand out in it, then in the world there is nothing to be perfect except God because everything is made up of some lack of stimulus.Not perfect in the sense that it has pros and it also has cons.
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"The bitcoin market is too volatile and unstable"
It is true that the Bitcoin market is highly volatile and unstable, but it is up to you to determine how your thoughts and steps towards volatility will prevent it and survive against it. You need to make yourself aware of the volatility sentiment and try to manage it before investing.Quote
"Bitcoin is used to commit crimes". (The lamest).
Nop, I disagree with you that somebody else believes that Bitcoin is a criminal coin or is used for illegal activities.It's not Bitcion's fault; it's the fault of those people who use it wrongly. Why are the accused being killed? In fact, the bullet has taken the life of the servant; the killer only fired, but the bullet was supposed to kill the accused. Why the killer? So actually, those who use Bitcoin are criminals, not Bitcoin. Bitcoin is only a medium, like a bullet. If someone uses it wrongly, it is his fault, not Bitcoin.
"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.
BTC tx's are irreversible, and it is a good thing for the network, it give a true sense of security and assurance than once your tx has been confirmed, there is no way it can be reversed, why would you love BTC tx's to be reversible, if that was the case BTC would just be like the many altcoins in the market and centralized services too. Take note that bank tx's can be reversed by the banks if you follow the process and complain to them why there should be a chargeback, bank tx's are not irreversible.
It is not perfect but still acceptable in the sense that people are benefiting from this despite the risk and FUDs. Besides, we don't need to look for a perfect creation because there is nothing that exists. Importantly, Bitcoin gives us the chance to earn which I see as the reason why people love it. While there are a lot of negative issues blaming Bitcoin, the more it gains attention and interest the more this project becomes more volatile and acceptable to the community. Good thing it is not perfect where there are pros and cons, otherwise we can never see things like this.
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