Topic: What are your unfashionable Bitcoin opinions? (Read 424 times)

the more time that goes by, the more difficult it's gonna be to ever agree on a hard fork block size increase. i'm beginning to think it'll be impossible. we might be able to implement another soft fork to allow more witness space outside of legacy blocks, but increasing legacy block space beyond 1MB is gonna be tricky as hell. at this point, i'm pretty sure it'll cause a schism and permanent blockchain split.

and tbh, i lean towards the small blockers' side. most of the fixed bitcoin supply has already been mined. with the next halving, the subsidy is a small fraction of the initial block rewards. we're not seeing enough fee revenue generated to argue that fees are replacing the subsidy.....not even close. to threaten the economic viability of the system at this point by lessening fee pressure (increasing block size)? i dunno about that.

Merchant adoption peaked in 2014 and has been contracting ever since. People want to hoard it. They don't want to spend something that may be worth more tomorrow. That's human nature and it's not changing.

If Bitcoin becomes enormous then it will become established as truly deflationary eventually and its fate as a non currency is sealed. It would literally be the last thing you would ever want to spend. You might spunk some free profit. Other than that you're going to get rid of the fiat you have and try to hang on to that.

As for your second moan, I have explored almost every human mind on the planet and can reassure you that that is the case without a shadow of a doubt.

Case closed.

Well I would say that the currency is old but gold! It is free from traditional systems and allow you to have freedom over your assets.

"Bitcoin will never see widespread use as a currency. " seriously you have been on the forums for how long??? This isn't even an opinion its a fact that bitcoin is being used and is widespread.

"95-99.5% of the world does not want to be their own bank. And a decent proportion who do want to be, should not be." so you hav spoken to 95-99.5% of the world have you? You know what people want more then they do? Tells us more.


"No matter how much we deny, it actually helps criminal to stay under the radar." same can be said amount social media and phedophiles. Hell lets just blame the internet entirely while we at it. No matter how much how you deny it the internet/guns and many other things help criminals.

"2. Better to use it as a store of value than a regular currency" look up the word currency.


Banks also have a server that runs all day long to handle their transactions. Saying bitcoin mining wastes electricity is like saying a lock on your door wastes money.

Mine are this simple -

One - Bitcoin won't get mass adoption because of the widespread global illiteracy level.
Two - Bitcoin's volatility will continue to scare away investors.
Three - Continuous split will continue to damage the reputation of the coin.
Four - Rogue Miners will continue to be the  bane of Bitcoin.

Too volatile to be considered as an alternate payment for fiat. business owners are uncertain if they'd make profit if they accept bitcoin as an alternate payment for fiat(I know there are stores who accept bitcoin but majority of business owners are scared they might lose money to it.)

Anonymity, as much as I love being anonymous while transacting it is also one of the reason why media are badmouthing bitcoin.

Might lose all it's value in a day which one of the reason why people are hesitant to use it.

Well you CAN trust your money to others. You are not forced to keep your own money. In fact this is how a full reserve bank works, you are willing to pay somebody else to keep the money safe for you, since you don't want or can't trust to do it yourself.

This is actually not a problem for Bitcoin as a currency, it is your own choice where to keep it. I mean, with fiat you can also keep it all under your bed (and its probably safer than your fractional reserve bank), but many people consider it too risky.

An online wallet or exchange is more or less like this. Say, you don't want to risk keeping it yourself, you could trust Binance to keep them for you. Since they have already survived theft they could be building credibility and the market will respond.


From an user perspective i think the issue with transactions could be a problem. While there are some offchain solutions, they have still to catch on. I think wallets should support LN and Litecoin payments. Why LTC? Because you could use their blockchain. Its possible to exchange both coins directly without intermediaries, thanks to both having Segwit. I think this could also be done with some other altcoins and offload the Bitcoin blockchain if no further changes are to be done to it.

As for the units, people really made this unnecessarily complex. The absolute minimum is the satoshi, people should stick to that, and bitcoin. We don't need mBTC and the other nonsense, just express things in bitcoin OR satoshis and be done with it. Yeah i know, You need 100 000 000 satoshis for 1 bitcoin. You think thats difficult? In my country, you need 45 000 000 for one bitcoin.

Yup, bitcoin will be a little boring when it reaches its saturation point and at that time bitcoin is already outdated. But I hope bitcoin isn't boring so fast, because it can still be enjoyed every reflection before the price is too expensive.

My unfashionable bitcoin opinion is that, Bitcoin will become boring as when it gets overpriced and crashing down [again] people will get tired of the whole bitcoin discussion as an investment option and move onto other new investment vehicles then bitcoin will now be used as more of a currency and I don't think bitcoin will survive as just a currency (although that was it's main purpose of creation). I don't fear any of these things happening anytime soon but I have a feeling it'll happen sometime in the far future.

My unpopular opinions:
1.Bitcoin is only a bunch of code and the creation of that code (mining)wastes electricity.
2.The only incentive about using bitcoin is the possibility of a future price increase.
3.People will never fully adopt bitcoin,because they want to be slaves of the government protected banks.(it keeps their false sense of security)

1. The great demand for electricity in the conduct of bitcoin mining is not for the environment hence bitcoin is not a green enterprise and for now there is no technology that is dealing with this challenge. Bitcoin mining is killing the Mother Earth.

2. Volatility is one factor why many merchants are not adopting bitcoin into their operation aside from the fact that low turnout is the norm upon analyzing sales made from people using bitcoin. Volatility is killing bitcoin in some ways.

3, Bitcoin is really more like a storage of value comparable to the physical gold though there are differences (as well as similarities) between the two investment tool. Between the real gold and bitcoin, people still prefer the real one.

4. Bitcoin is only for the rich people as they can easily afford to buy its soaring price and can afford to lose money when bitcoin can be down...as such bitcoin can be the tool to control the poor and expand the power of the rich people.

5. Bitcoin will never make it to 2050 as many governments will be working hard to kill it and buried it forever in the digital cemetery. USA, Europe and Middle East will not anymore let bitcoin exist in those years.

My unfashionable opinions about bitcoins are:
1. It can not be used as a replacement of regular fiat currency due to high fee and network load. There are other crypto currency that can do this job better.
2. Better to use it as a store of value than a regular currency
3. No matter how much we deny, it actually helps criminal to stay under the radar.

How is it false? The price outperformed every bit of scaling progress, which isn't the fault of Segwit.

Segwit is the only way to actually get us to somewhat scale. Never say never of course, but with how distributed the nodes are, and the lacking will to even tempt a large enough percentage of the node operators to upgrade to the latest versions, how do you expect the 'legacy block space' to reach that 4MB mark? We're stuk at 1MB and we might stay stuck at 1MB for much longer.

Bitcoin with the technology behind has made itself a success and further with the adoption of the same technology and the increasing use of bitcoin it has been getting importance. As in the opening post there is very small percentage of users who wants the wallet serve as their own banking. This way bitcoin getting into mainstream usage is really impossible to achieve in the short.

Bitcoin will start losing its popularity among simple users once it became too expensive. Look at the gold market: how many ordinary people are involved in it? In future big capitalization and low price deviation will make btc unprofitable and unpopular. That's the concern for me. But the good side is, this future will happen in decades.

The main problem in my opinion is the price, a very large price difference makes people think twice about making bitcoin as a currency, but rather into long-term investments like commodities or gold, the more people believe that bitcoin prices will continue to show uptrend. Bitcoin requires an equilibrium price so that it can be used as a currency.

Bitcoin can never become a mainstream method of settlement. Moreover due to its deflationary nature it can't even be used as a national currency. Moreover scaling issues will even hamper its growth as a popular currency. Moreover people are not prepared for crypto for atleast another 20 years so no chance of a good adoption rate. Me myself would not like to spend my money in a type of currency which becomes expensive the very next day as it will make holding that currency a better option than spending it.

Bitcoin uncovered that crypto community is extremely stupid and unable to maintain discussion that is related to some economical problem. Some people are just good specialists in some technical field but most part of the community is just retarded. I can't find another words to describe those people that are sure that BTC would worth $1bln and Bitcoin would finaly solve the problem of war or poverty.
Bitcoin's security is also a big disadvantage. People are used to card payments. It is always good to know that if you lose your card then you will get another one or if you get scammed then bank would make a chargeback. Such things are not possible while using BTC.

Bitcoin will just be an alternative payment system and will never be even close to overtaking fiat. Bitcoin will be to banks what Linux is to Windows (minus the fact that Linux is hugely used in servers and other industries).

Inflation might be needed to subsidize mining when the block rewards will cease.

Hodling is good, but it shouldn't stop anyone from taking profits, because it can easily lead to losses - if you buy in the middle of a bull run, and then fail to sell, you'll get rekt by the crash and have to wait years to break even.

you do realise real byte for byte hard drive space segwit is actually heavier than a legacy. (hense the need to wishy washy code of witness scalefactor and Vbytes to hide it all)
a full node is a full node because it archives the entire blockchain  AND signatures so that when new users want to sync the new user can get the signature data to validate.
nodes that strip signatures, prune 'spents' are not full nodes.
so segwit does not help full nodes.
segwit is just another dataset to let litenodes leach stripped data
segwit is just a tx format thats purpose is to be a gateway transaction to another network

the hope/hype of segwit making transactions cheaper was false promise. remember 2015 first mentioning the path to segwit. people were discussing the subpenny/10c area.    now with segwit people are discussing 25c/$ area and those segwit lovers are really trying to promote fee wars of pressurising fee' UP

so tell me as unfashionably or fashionably as you like. what is your reason for hoping for more segwit adoption. what benefit of say 4mb of hard drive space do you think 100% segwit adoption would give. compared to 4mb of hard drive space using legacy