Does bitcoin solve more problems than it creates? - page 4.

jcoin200

hero member

Activity: 504

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Quote from: ?? on ??

I don't have any problems with Bitcoin. If you do, don't use it. Problem solved.

However, Bitcoin certainly does have a few useful properties unlike any other asset on the planet. This is why I will continue to use it.

Yes it use mildly useful, but I'm trying to see if there is any real, logical reason that it would be used by a large amount of people. After dealing with it for over a year, it seems like its more of just a niche internet tool, that doesn't actually have the usefulness that people (especially on here) want you to think it does.

Elwar

legendary

Activity: 3598

Merit: 2386

Viva Ut Vivas

Bank can't freeze my bitcoins.

Only 3 of your cons did not involve fiat currency. The main problems with Bitcoin are trying to live on two currencies. I live on the dollar and the euro and it makes things difficult. It would be so much better if everyone just used bitcoins.

R2D221

hero member

Activity: 658

Merit: 500

Quote from: jcoin200 on October 08, 2014, 08:02:27 AM

2. there is no demand, again the difficulty to obtain makes it unusable by 99% of people

Well, every new technology faces the chicken and egg problem. This is already known.

Quote from: jcoin200 on October 08, 2014, 08:02:27 AM

3. I dont pay the bank anything, cash at home is more than secure as well
4. get a new card for free or use cash
6. I dont pay the bank or my credit card for protection. In fact I make money with rewards

Only some types of accounts are free (the most basic ones), and even then, they're not entirely free. The fact that they receive your money means they can spend it on something else while claiming they still have it (this is fractional reserve).

About #4, if your cash gets stolen, it's lost for good. If your card gets stolen, you get a new card, but an insurance company has to pay for it. There's no reason why there can't be a Bitcoin insurance company (although it would work a little different from what we're used to).

Quote from: jcoin200 on October 08, 2014, 08:02:27 AM

5. yes, but certainly the black market is the most obvious utilization for btc. thats the only real new feature it brings to the table, a way for criminals to work online and avoid things like paypal

Black market has been working with cash for as long as there has been cash. If I were you, I would stop using cash because it's being used by drug dealers and other kind of criminals.

RodeoX

legendary

Activity: 3066

Merit: 1147

The revolution will be monetized!

Quote from: Come-In-Behind on October 08, 2014, 08:31:00 AM

Quote from: RodeoX on October 08, 2014, 07:56:19 AM

Quote from: jcoin200 on October 08, 2014, 07:49:20 AM

Problems with btc:
1. wild, unstable exchange rate
2. difficulty to obtain and use (for most people)
3. getting coins hacked or lost by sending to wrong address
4. fraud/theft at exchanges (if it happened at Gox it could happen anywhere)
5. it enables criminals to get paid online
6. absolutely no buyer protection

good things:
1. cheap way to send money
2. only 21 mil ever in circulation

So why should more people start using btc? It seems the cons outweigh the pros.

1. no problem. That is called a free market. You want a mommy to smooth everything out like the dollar?
2. fixable by business. If there is a demand it will be met.
3. You could pay for secure storage. Like you do with your fiat.
4. Like it happened to me twice this year using a debit card? Target breach, Home Depot breach.
5. And non-criminals
6. You could pay for it. Like you do now with your fiat. There is no such thing as free protection.

4. Don't forget JP Morgan Breach that affected tens of millions of accounts.

I'm still waiting for that letter.
The bottom line for me is that I do use it as a currency and have for years now. You need to be ignorant of bitcoin to buy these assumptions. And I don't really care what people who can't understand bitcoin are going to do. Na, you keep your shitty bank paper coupons. I'm doing quite well using BTC as my money.
It reminds me of the internet in 1991. The same arguments were made to me about how stupid the internet was. Yet it did work out, and take over the planet.

Come-In-Behind

full member

Activity: 182

Merit: 100

Quote from: RodeoX on October 08, 2014, 07:56:19 AM

Quote from: jcoin200 on October 08, 2014, 07:49:20 AM

Problems with btc:
1. wild, unstable exchange rate
2. difficulty to obtain and use (for most people)
3. getting coins hacked or lost by sending to wrong address
4. fraud/theft at exchanges (if it happened at Gox it could happen anywhere)
5. it enables criminals to get paid online
6. absolutely no buyer protection

good things:
1. cheap way to send money
2. only 21 mil ever in circulation

So why should more people start using btc? It seems the cons outweigh the pros.

1. no problem. That is called a free market. You want a mommy to smooth everything out like the dollar?
2. fixable by business. If there is a demand it will be met.
3. You could pay for secure storage. Like you do with your fiat.
4. Like it happened to me twice this year using a debit card? Target breach, Home Depot breach.
5. And non-criminals
6. You could pay for it. Like you do now with your fiat. There is no such thing as free protection.

4. Don't forget JP Morgan Breach that affected tens of millions of accounts.

findftp

legendary

Activity: 1022

Merit: 1008

Delusional crypto obsessionist

Quote from: jcoin200 on October 08, 2014, 07:49:20 AM

Problems with btc:
1. wild, unstable exchange rate
2. difficulty to obtain and use (for most people)
3. getting coins hacked or lost by sending to wrong address
4. fraud/theft at exchanges (if it happened at Gox it could happen anywhere)
5. it enables criminals to get paid online
6. there are already plenty of ways to send money online a lot easier, it doesnt really do anything new
7. absolutely no buyer protection
8. scam companies/scammers
feel free to add to this list ^^

good things:
1. cheap way to send money
2. only 21 mil ever in circulation

So why should more people start using btc? It seems the cons outweigh the pros.

Always the same questions over and over and over and over and over again.
This forum is bulging from all the answers too.
If you don't like bitcoin, don't use it.

jcoin200

hero member

Activity: 504

Merit: 500

Quote from: RodeoX on October 08, 2014, 07:56:19 AM

Quote from: jcoin200 on October 08, 2014, 07:49:20 AM

Problems with btc:
1. wild, unstable exchange rate
2. difficulty to obtain and use (for most people)
3. getting coins hacked or lost by sending to wrong address
4. fraud/theft at exchanges (if it happened at Gox it could happen anywhere)
5. it enables criminals to get paid online
6. absolutely no buyer protection

good things:
1. cheap way to send money
2. only 21 mil ever in circulation

So why should more people start using btc? It seems the cons outweigh the pros.

1. no problem. That is called a free market. You want a mommy to smooth everything out like the dollar?
2. fixable by business. If there is a demand it will be met.
3. You could pay for secure storage. Like you do with your fiat.
4. Like it happened to me twice this year using a debit card? Target breach, Home Depot breach.
5. And non-criminals
6. You could pay for it. Like you do now with your fiat. There is no such thing as free protection.

1. and this is one of the main reasons its completely unusable as a "currency"
2. there is no demand, again the difficulty to obtain makes it unusable by 99% of people
3. I dont pay the bank anything, cash at home is more than secure as well
4. get a new card for free or use cash
5. yes, but certainly the black market is the most obvious utilization for btc. thats the only real new feature it brings to the table, a way for criminals to work online and avoid things like paypal
6. I dont pay the bank or my credit card for protection. In fact I make money with rewards

RodeoX

legendary

Activity: 3066

Merit: 1147

The revolution will be monetized!

Quote from: jcoin200 on October 08, 2014, 07:49:20 AM

Problems with btc:
1. wild, unstable exchange rate
2. difficulty to obtain and use (for most people)
3. getting coins hacked or lost by sending to wrong address
4. fraud/theft at exchanges (if it happened at Gox it could happen anywhere)
5. it enables criminals to get paid online
6. absolutely no buyer protection

good things:
1. cheap way to send money
2. only 21 mil ever in circulation

So why should more people start using btc? It seems the cons outweigh the pros.

1. no problem. That is called a free market. You want a mommy to smooth everything out like the dollar?
2. fixable by business. If there is a demand it will be met.
3. You could pay for secure storage. Like you do with your fiat.
4. Like it happened to me twice this year using a debit card? Target breach, Home Depot breach.
5. And non-criminals
6. You could pay for it. Like you do now with your fiat. There is no such thing as free protection.

jcoin200

hero member

Activity: 504

Merit: 500

Problems with btc:
1. wild, unstable exchange rate
2. difficulty to obtain and use (for most people)
3. getting coins hacked or lost by sending to wrong address
4. fraud/theft at exchanges (if it happened at Gox it could happen anywhere)
5. it enables criminals to get paid online
6. there are already plenty of ways to send money online a lot easier, it doesnt really do anything new
7. absolutely no buyer protection
8. scam companies/scammers
feel free to add to this list ^^

good things:
1. cheap way to send money
2. only 21 mil ever in circulation

So why should more people start using btc? It seems the cons outweigh the pros.

Topic: Does bitcoin solve more problems than it creates? - page 4. (Read 2456 times)