Topic: Does bitcoin solve more problems than it creates? - page 3. (Read 2456 times)

Bitcoin only solve one problem: Fiat money being legally counterfeited everyday, while with bitcoin you can not counterfeit it even you pass a law

police wont look into fiat crimes.
if its small amount of bank notes they will say unless you have a suspect on video or can prove it, its just hearsay.
if its credit card fraud they tell you to go to your credit card company.
infact if you carry $10k+ over a state border they take it off you (research policing for profit)
if you think FIAT is stable in the last 5 years has the income you got in 2009 bought you more goods or less. EG bread 2009 ~$2... but now ~$2.50 meaning less bread now. (remember the financial crises!?)
should i bring up venezuela, argentina, cyprus, russia, greece, etc and their current economy?

bitcoin is not controlled by the elite. i had someone just last month start selling goods in bitcoin, he is making a nice income.
mining is not the only way to earn bitcoin and profit, infact just like gold its easier to open a pawn shop accepting gold, rather than start mining for gold
its easier to start a bitcoin business compared to a FIAT business. no paperwork to get 'accounts', etc to start accepting payments.

So you're agreeing that btc has all the same problems 

Except, fiats exchange rate is not exactly day to day "wild," and the income equality problem is not solved by btc.  Its still controlled by elites who hold the majority and are able to manipulate price.

And if someone steals cash from you, police will at least look into it.  BTC, your on your own.

Problems with FIAT
1. wild, unstable exchange rate
2. difficulty to obtain and use (for most people as they are all on minimum wage)
3. getting taxed fined or robbed by doing things where others are not even hurt
4. fraud/theft at banks (if it happened at HSBC, JPMorgan it could happen anywhere)
5. it enables criminals to get paid
6. there are already plenty of ways to send money online a lot easier, it doesnt really need anything new thats free, after all FIAT = added fee's
7. absolutely no protection, unless you pay for insurance or band security
8. scam companies/scammers
feel free to add to this list ^^

good things:
1. if you hand police, judges or state officials it.. they leave you alone

1. that is due to it being early days
2. same as 1
3. that is the responsibility of the user
4. do not trust your money with third party
5. criminals also use cash
6. it sends money without the need for 3rd party, this is new
7. buyer protection requites 3rd party which could be organized by a 3rd party
8. government hasnt yet had time to regulate the space

1. This is just a functional of the relatively small market cap and speculation in BTC; as the market matures this will be a self-solving problem. But it's a bit silly to complain about a "problem" that exists only because BTC has rocketed upward in value in the past 5-6 years. That's like complaining Apple stock has a problem because it's been so profitable.
2. It's easy to sign up on coinbase and link your bank and/or credit card to it, to buy BTC. Trivial really, and no harder than signing up for a new user account on any given retail website. So I don't buy this one either.
3. I don't see anything unique in this - in principle you can make equivalent errors with Fiat transactions.
4. I agree this is a problem; customers of exchanges do need to keep voting with their funds, favoring exchanges that are the most transparent and aggressive in maintaining good security. Fiat exchanges in principle could be just as vulnerable to online theft, so I see the difference here as largely one of crypto exchanges being less well-funded and they've not been around long enough or have enough experienced employees to have a full security system in place.
5. Criminals also move fiat around on-line. Granted, the pseudo-anonymity of crypto is attractive to criminals. But it is also attractive to legitimate dissidents to repressive governments, and free citizens worldwide who shouldn't have government/neighbors/anyone else snooping on them either.
6. With logic like that we'd still be walking and refusing to ride horses, much less drive cars! Sure you can send fiat around with a 2.9% or $10 or more transfer fee, but BTC is MUCH more efficient. And much faster. These are clear wins for crypto that will ultimately force the issue - people do not like wasting money and BTC/altcoin transfer efficiency will steadily defeat competition over the long haul for this reason.
7. Buyer protection is only as good as the company offering it anyway; legitimate businesses will treat customers fairly if they want to avoid a death spiral of negative publicity. I think this is the one issue BTC supporters stress about more than they should. It's not a non-issue, but long-term business self-interest makes it much less of an issue than many people think.
8. Granted there is an intense focus by criminals on bitcoin these days; most of us here for any length of time have shrapnel in us attesting to that fact, myself included. So I'm in agreement on this one, and think we as a community need to develop and publicize best practices for individuals and businesses to defeat the scammers. If we can block 90% of the scamming with a reasonable combination of security improvements at exchanges and so forth, and increased user awareness, and improvements in wallet software and so forth, we'll hopefully drive the scammers to go chase lower hanging fruit somewhere else or just give up.

Funny how people are acting like this is something new.

Have you read the white paper?

You forgot a few.

good things:
3. control of your own money (no need to trust an institution)
4. enables business to reach larger market
5. enables individuals various legal ways to earn
6. enables to donate directly to the people in need, as opposed to intermediary thieves in charity organisations
7. enables you to send money to friends online
8. improves technology economy (people buy lots of hardware equipment)
9. many fun projects
10. proof that decentralized systems can and do work

and 3600 BTC are created every day ...

Few people hold the majority of dollar. This will happen with any currency (since that's how capitalism works, unfortunately).

Few people hold the majority of bitcoin, most people do not have the bitcoin, this is the most serious problem!

Bitcoin creates no problems. People create problems.

this

people are dumb.
they pay banks because they "think" that it's normal ... but bank generate virtual money everytime people "buy" or "receive" money.

banks will pay customers for this !
banks will pay credit card to customers !





so, bitcoin !

2. difficulty to obtain and use (for most people)
i think this is the biggest problem ,If there are a lot of people use the bitcoin, then the other  7 problems will not be the problem.

I live and work in Germany, I get paid in dollars.

I convert my dollars to bitcoins. I sell my bitcoins on localbitcoins for euros.

I do not have to the high conversion fees. I do not have to pay the high wire transfer rates.

Because I sell on localbitcoins I actually make about 10% on the conversion.

No problem here.

Bitcoin's problems will be solved with time.  Fiat's problems will become worse with time.

I'd like to provide some counter arguments to these points.

1.  A lot of people will see the flux as scary, and thus not trust it
2.  Nothing here, just a good point by you.
3.  I don't pay to keep my fiat safe?  As a matter of fact they pay me to keep it safe...(Savings)
4.  Did you actually lose anything in those breaches?  I know I didn't, I did have the hassle of having to get new cards though.
5.  No point here
6.  No point here

What I like about Bitcoin:

1) It's not hard to earn some by doing work for other Bitcoin users or taking a few risks on the exchanges if I stay sharp.
2) I can just store them on my own computer rather than using a third party like a bank, and it makes them easier to spend them without having to go through a banker first. I think this has been mentioned, but JP Morgan has been hacked. So have Target and Home Depot servers that store credit card numbers.
3) Most of the problems that the OP mentioned also happens with fiat currencies. There are nations whose fiat currencies suffer through such terrible inflation that Zimbabwe has a $100 trillion dollar bill and, with another nation (I can't think which one right now), it's common to pay workers at lunchtime so they can buy things before prices go up again.

I like the fact that the bank cannot restrict my use of my own resources.

Question - why are so many bitcoin users concerned with the 'criminals' using bitcoins?