Oh my, there's a ton of reasons, all of which I am sure you've read here on the forums before so I think it'd be kinda boring to discuss here. Just a small list if you insist (if you like my rhymes, please sestroy a bitcoin for donation!
:
- The deflatory nature of bitcoin is an inherent flaw making the principle useless
And your evidence of this is...
- Bitcoin is a speculative bubble, has no real value and will cause many people to lose the money they invested
It's a closed system. For every dollar lost, someone gained a dollar. The only people losing money on Bitcoins are the people who treat it as a speculative instrument.
- The whole concept is too geeky (and yes, we're geeks too, but still) to become ever widely adopted
Guess what else was "too geeky" only 2 years into its existence: Personal Computers. To think something as radical as Bitcoins could be brought into the mainstream within 6 months (which is really the only time period we're talking about, because the mainstream media didn't even know what Bitcoins were in January of this year) is just nuts.
- It is a pyramid scheme and the only ones benefiting are the early adoptors and they will laugh at you when they cash and pull out
Just making this statement shows you have no idea what a "pyramid scheme" is, so it's not even worth responding to.
- It's a botnet-hack waiting to happen
Such an original thought. So I guess you're going to stop using Personal Computers as well, because those have already been hacked by botnets. Why do you keep using them?
- Instances like MtGox deciding to perform rollbacks show that the principle ideal was already raped
Umad? Rollbacks happen in every market, go look it up. The market decided where the price should be, Mt. Gox didn't. They rolled back trades, and then the market decided where to stabilize. Sorry you didn't get to keep your $0.01 Bitcoins. Oh, and what Mt. Gox did only really affected speculators, no one who actually cares about the "principle ideal" was affected. And what Mt. Gox does has ZERO bearing on the ideals behind Bitcoin.
