Bitcoin Forum

I dont like BitCoin for these reasons:

1. The whole idea that someone can turn on his computer/GPU and "bit mine (https://en.wikipedia.org/wiki/Bitcoin_network#Bitcoin_mining)" and earn money is ridiculous.
People should earn money when they work hard for it. Turning on a computer and leaving it to run does not and should not count.
This is a waste of electricity as well and therefore it causes greenhouse gases and has a carbon footprint. (https://pando.com/2013/12/16/bitcoin-has-a-dark-side-its-carbon-footprint/)

2. One would think they came up with a new currency system so theft could be prevented. No, BC gets stolen all the time (https://www.google.com/webhp?sourceid=chrome-instant&ion=1&espv=2&ie=UTF-8#safe=off&q=stolen+bitcoin).
Why couldn't they "disable" the serial numbers of the currency that was stolen? Thats the kind of system that should have been designed.

3. BC is unstable. People lost a lot of money (one tiny example (http://www.marketwatch.com/story/how-i-lost-half-of-my-retirement-investment-in-bitcoins-2014-10-07); there are probably hundreds and thousands) and they did nothing wrong. A good modern currency should not have this defect.

It does have positive points which is why many people are using it but it would have been nice if it didnt have the above problems.

One would think if a new digital currency was created it wouldnt have issues like this. Computers and software are so powerful now. It should have been possible to design a currency with none of the issues above.

"Then dont use it" Or "Why dont you make your own currency system?"
These are not valid responses so they shouldnt be said here.

1a. Then I guess when farmers use automated network controlled tractors and etc to harvest their crops, that isn't work either and isn't really "proper crop".

1b. When a single volcano erupts on earth, it throws off more green house gases into the atmosphere then a few decades of human civilization.
      A Volcano is a larger threat to the ozone layer then Bitcoin is and there is one going off every few minutes.


2. Disabling "stolen" bitcoins makes no sense. Who is to say what is stolen or not? Who is the decider in a decentralized system?


3. Bitcoin currently is not a currency, it is an asset, and currently acts as an asset. As time goes on, and with stabilization, it will be a proper currency.


Edit: corrected grammar errors

How is a computer producing currency much different than a central bank using a fractional reserve credit brokering system?  The only difference is that bitcoin has a finite limit of supply.  A central bank currency will inflate infinitely.

bit mine as you put it , is a work too. the people who are leaving their computer on to mine bitcoin are confirming other people's transactions and helping the bitcoin network


and cutting down trees and printing out paper money (cash) is eco-friendly?


people get mugged, cars get hijacked, supermarkets get robbed, so i guess we should stop going out of our home and stop using cars, etc
why don't you google stolen vehicle, or people getting mugged in the street?


all those people lost their money because they have blindly put a lot of money in something they didn't understand how it works. then bought it at the highers peek of price with the hope "to get rich quickly over night" but their dream didn't come true. also they didn't want to accept that price is going up and sell, they held on to their bitcoin until it was late.


it has problems, and nobody can deny them (not what you mentioned here) but it is a new technology and it should have these problems and they are getting fixed over time as it grows.

Their computer is working hard, for them

The so called "serial number" is the strength of bitcoin, giving you full control of your money, its your responsibility to keep it safe.


"BC" is not unstable, its market value is unstable. Bitcoin has work flawless since Jan 2009, never breached its protocol. Hundreds and thousands of people, who lost money in trading, because of their greed (as in the case of any speculative market), they thought bitcoin as instant get rich scheme. People who had blindly entrusted their bitcoin to centralized exchanges, have also lost big money, due to failure of the exchanges not bitcoin.

It's funny to me how people are coming back with the same old arguments over and over again and they make as much sense as they did at the beginning, no sense at all. 

Like you can buy drugs and guns for Bitcoin, well people are buying it all time for $. Or Bitcoin is harming our environment. Well how many trees are cut to make all overly printed dollars and other currencies around the world.

My absolute favorite one is securing Bitcoin's through hashing power costs to much money and we would be better off using that hashing power for medical research lets say, when nobody actually even tries to think how much costs daily to secure any countries FIAT system? Imagine how much cost US Fed to print and replace all the dollars daily?

I guess we will never stop hearing arguments like that!

Ultimately I think this may prevent Bitcoin from being widely adopted. That doesn't mean it can't continue to exist as a niche system. But, the average person is willing to pay a certain amount, to a credit card for example, in order to be able to have customer support (i.e., insurance) in the event of theft.

What makes you think that "the average person" (whoever that is) is willing to pay extra? I see constant examples (even here) where people have no idea how expensive credit cards are and how every customers pays more for every item in a store that is accepting credit card payments. On top of that people are constantly in pursuit of "free" services where the only price you pay is that the provider spies on you can sells the information to advertising companies. While its a perfectly fine way to finance something, I dont think most people using a service like google are aware of the price they pay.

With all that being said I think bitcoin is actually capable of enabling a service to provide transparent insurance of your coins (for an extra ofc). E.g. some of the treasurers for the board secure a part of its funds for a fee.

Real talk, it's obvious OP is horribly misinformed about what exactly is Bitcoin, but this should be alarming. These views very well may reflect that of the general public in regards to Bitcoin, which is a huge problem.

first point don't work anymore, it's like you say, it is not easy anymore, you need big farm super cheap electricity and a big space, not everyone can do that and there is no wasting resource if you can produce something that has a great value, like bitcoin

they are stolen all the time not becaue bitcoin is insecure, but because average people are incompetente they want everything done in automatic...ridiculous, and "they" can't disable shit, bitcoin is not centralized, fortunately...

unstability it's only related to its adoption, something that will fix itself with time, no need to worry about it

There is nothing bad that money can be earned in this way. No one are stealing nothing and stealing it is the only way of earnings that can be punished.


No one has told that with bitcoins will not be stealing of bitcoins. Stealing has nothing to do with the money but with the evildoers. There are and there will be always such kind of people and they will steal not only bitcoin but everything. Even the fiat money you like.


Every fiat money is unstable. Let's remember here the us dollar. There are to many periods where us dollar was devaluated and evaluated again. We can rememebr that this has happen even the last 7-8 years. Only the last year (two years) us dollar has gained about 20% of his value.

Yes, but for this customer service, you are paying crazy fees and don't have a control over your money, look at Greece and capital controls. Ultimately, people will and should have options. Some will trust banks and Visa and pay fees and be insured. Others will choose Bitcoin and decide to be their own bank. That's one of the problems of today's system, people don't have options and people should always have options!

If you dont have control of your money it means that they are not yours anymore, it can happen that like the bank bankrupt and your money are lost or limited like the Greece you are right.

It is a smaller carbon footprint than you really think it is. Besides, you can't CPU or GPU mine anymore. It isn't profitable and just wastes money and electricity. The big mining farms that mine are usually near big cheap sources of electricity. Those happen to tend to be renewable sources like hydroelectric plants. HaoBTC's mine is near a hydroelectric which provides them cheap electricity and doesn't have a carbon footprint.

It is just like cash. Cash can be stolen, and the serial numbers can't be disabled. There aren't serial numbers with Bitcoin, and disabling the spending of certain transactions requires hard forks and implies that there is centralization to decide what transactions are not stolen Bitcoin. Whose job would it be to decide that someone's transactions was Bitcoin being stolen?

It is just like stocks, the price goes up and down. Other foreign currencies fluctuate too. People shouldn't look at Bitcoin as a speculative investment where they can profit from it. Also, instead of looking at Bitcoin and comparing it to other currencies, it should be independent from them. Instead of 1 BTC = 300 USD, it should be 1 BTC = 1 BTC. This is what I hope happens in the future.

If I don't like a resturants food, I dont go there.

If I dont like a person, I dont hang around them.

If I dont like a product, I dont buy it.

If I dont like Bitcoin, I wont use it, or I will help to change it, in which case I would post my suggestions in the dev section.

"Don't use it" is a completely valid statement

"Go make your own currency system" is a completely valid statement.

If you don't like Bitcoin and wish to change it, head on over to the dev section and submit changes.

No,no... you can't be bothered to do that. What you do is post your negative nancy crap in this high volume sub-section for added visibility.

Wonder why... maybe you've got something to lose by Bitcoins' success...

I could also list a lot of reasons why I don't like USD, but what choice did I have before Bitcoin came along?  I was stuck having to use fiat due to a lack of alternatives.

Perhaps the best thing about Bitcoin is that you're free not to use it if you don't want to.  :)

What makes me think that is that they do pay extra. In addition they can purchase on credit. Bitcoin USD volume hasn't increased. Have you ever seen someone notice incorrect charges on a credit card, panic, call up the CC and then get the charges reversed? Now imagine some "average person" getting hacked, and then realizing there's nobody to call, that's it, bye bye money. And, considering even fairly advanced users get hacked, good luck protecting everyone. And, no, I don't think most people will value "free" if they have to stick everything in a paper wallet they generate offline on a dedicated computer etc etc, in order to be 100% sure it's safe. As for extra insurance on bitcoin, that's possible, but once instituted on a large scale you probably wouldn't save much over what you get now.

Having said all that, I'm not saying bitcoin isn't useful, or even that a lot of people won't keep a small amount in a cryptocurrency. I just don't think your average person in an industrialized country will trust putting the same amount in bitcoin that they do in credit cards. I could be wrong but it hasn't happened yet so I don't see why the onus would be on my argument.

There was Economical Crysis in 2001 in Turkey (of course it was somehow worldwide) But We were affected a lot.
My parents lost their shops, we have paid a lot of debt, etc. We lost tons of money.

It's happening in Greece now, People lost lots of money. It's not only bitcoin's problem but also general financial ecosystem's problem.

Obvious troll is obvious, but here goes...

Agreed, computers should never be used for making money for no reason whatsoever. In fact, computers as a whole are just a waste of electricity. Things were was better back before we used computers for everything. I mean no electronic banking, it was nice when we had to wait in line to cash our paychecks on Friday. Then sit down and mail out checks for all our bills. Oh, if I wanted to take a trip during the weekend and forgot to get enough cash out on the weekend, I better hope the bank was open, cause of course no ATM's without computers wasting all that electricity. I mean those ATMs churning away all day for the handful of people that use them, what a waste.

Don't forget about Wall Street or any financial services for that matter wasting all that electricity on their computers making money.


I know right. Why don't they disable those pesky serial numbers on my FRNs if I get mugged, or a bank gets robbed, or any money used for illicit activities. Why does my bank account get drained because Target or Home Depot had a breach. I mean these superior systems designed by the elite bankers should be fool proof, right?


OMG, right I mean bitcoins is the only way people can lose money. Well there was the Madoff thing, oh and Enron, something about Charles Ponzi a long time ago, I am sure there were millions who lost and they did nothing wrong.


Yes, computers and software are indeed powerful, but the people who use them are still very much fallible and most, if not all, of the problems you indicated are due to that weakness more so than the technology.

My credit card cost less then $10 a year. No fee when i use it. That $10 include an incurance from theft. Reduced prices in a lot of stores and chargeback in case of a seller not delivering. The bitcoin is the currency with extra payment.

You are conveniently leaving out the 3-5% fee the credit card companies charge the merchants for accepting that piece of plastic. Why do you think some gas stations offer 3-4% discounts for cash, or cash equivalent users? You may not see the fee directly, but it sure as heck is passed on to you when the merchant if setting his prices. Even if they do not charge a noticeable fee or offer a cash discount, the CC fees are just spread out amongst all users, but in no way are they free or even cheap.

Are you stupid or something? I guess so. I dont get a discount for paying cash. I get a discount for using my card.

You few last posters; Mastercard AND Paypal keep an additional 2.5-3% to the user when converting from a currency to an other. That is not negligible and i was able to avoid, with bitcoin, very hefty conversion rate while trading with odd currency and a fair % on CAD/USD conversion.

For example while i used my CC i had a conversion rate of 0.74~ CAD/USD instead of the real conversion rate which is 0.77! You want to transfer 600$ and they keep almost 20$.

There are tons of small semi-hidden fees like that...

No idea how to get around that with a card. I have set up my Paypal to use dollars since that is what i normaly need when my own currency is no good. Then i get away from the fee when i send to someone. If i recive money trough Paypal it is also in dollar and i can send it to my bank who convert it much cheaper but not free. Yet....

...there are still many cost related to using a credit card!

Proper use aside, it is also a tool that let you easily overspend and "lose" even more money on interests and again on all those fees.

The average use of mastercard comes with interest, since in marketing, the temptation of getting something "now" even though you will have to eventually pay more is rampart.

I wouldn't lending BTC is any better however, especially with how easy it is to run away with BTC.

Using a credit card on a "buy now pay later" scam or getting another card to cover debt from the first are known issues... Just as with bitcoin you need to know what you are doing.

Well yes, and it is also harder to control. Those known issues are intended and perpetuated by the banks to hook the citizens. It would be harder to do on Bitcoin.

This is a great video that simplify the issue for most people to understand this concept; https://www.youtube.com/watch?v=mII9NZ8MMVM

I find your criticisms wholly uncompelling, OP.

said to Robert Fulton, upon hearing of his plans for a steam-powered engine.

Arthur Clarke's Three Laws:

1. When a distinguished but elderly scientist states that something is possible, he is almost certainly right. When he states that something is impossible, he is very probably wrong.

2. The only way of discovering the limits of the possible is to venture a little way past them into the impossible.

3. Any sufficiently advanced technology is indistinguishable from magic.

You spelt bitcoin wrong.

^^ This!

Everything is designed in a current system so the end user pays the most. That's why this Bitcoin revolution is so important. We need to end or at least fix this nonsense.

I get your points. But you need to understand that bitcoin was invented to fill up some of the gaps of the modern currency, it was never intended to be as a "SO CALLED" currency.

Lots of companies already have lots of computers earning money.  Visa, Mastercard, Western Union, they use computers to send money.  They provide a valuable service with computers, and that's how they earn their money.  Bitcoin also uses computers to run a transaction network which provides the same valuable service as Western Union or Visa.




People get money in exchange for something of value, whether or not they have to work for it.  If I do 500 pushups a day, and I lose 50 pounds, will you pay me for that?  I worked hard, but I didn't give you anything of value that you want to spend money for.

But you're confused about the difference between earning money and creating money.

Bitcoin requires a lot more work to create money, compared to fiat money which comes out of thin air, doesn't even exist, and is essentially worthless.




You left out the part where they had to spend thousands of hard-earned dollars to get the computers in the first place.

After they get the computer, they can't just turn it on and leave it running.  They have to apply knowledge and education, and even then they have to provide something valuable to other people.  What if they leave their computer running to mine another coin that never becomes as valuable as Bitcoin?  Then they didn't make the most profitable decision.




If it was a waste, people wouldn't spend millions of dollars on it every day.  If you think computers hurt the earth, then turn off your computer.






Here's your chance!  Give us a currency that can't be stolen.  If you can't, then don't expect other people to do the impossible.




Not as often as fiat money.




U.S. Dollars have serial numbers.  Why does theft still exist?

Who do you think should decide which Bitcoins are stolen?  If I lie and say your money belongs to me, do you want some government employee to be able to push a button and take all your money away just based on my word?



If you think it should be designed, then design it.  




The U.S. Dollar is unstable.  It continues to lose value every year for over 100 years.  



People lose more money with fiat investments.




Yes they did.  They paid too much and sold for too little.  

They could have waited 2 more years and maybe Bitcoin will be worth a lot more than they paid.  So obviously they did something wrong, if they lost money when other people became millionaires with Bitcoin.




Please name the currency you're talking about.  Which currency doesn't lose value?  Which currency can't be stolen?

And now tell us which currency gained 1000% in 3 years, while every other currency in the world lost value.





You just said that computers and software don't do anything valuable and they can't do work.  

But now you think computers can solve all the world's problems?




If they're not valid statements, then WHY ARE YOU SAYING THEM?

All you are saying is, "Why don't you make a better currency system?"

If you think it's a good question to ask us, then it's a good question to ask you.  Why don't you make a better currency?

We don't make our own currency because we don't think Bitcoin has these "problems" you're talking about.

Since you're the one who sees these things as problems, you're the one who should "fix" the problems.  Everybody else will continue to use Bitcoin.  

Credit cards gets 3% of everything you spend, and Paypal takes 6%.

They charge you to spend the money, and they charge again for the other party to receive your money.

If you like that, then keep doing it.  You'll eventually use Bitcoin anyway, and the rest of us will have a lot more money than you.

It's highly probably that OP is one of these Scandinavians habiting the boreal woods (and internet forums ;D), but this indeed is a problem of Bitcoin.

A farmer - even if he uses automatized technology - is providing an useful service to society. Mining can be seen as a service to the bitcoin user community as it's securing the blockchain. But there are "miningless" alternatives like Proof of Stake and Proof of Burn that do the same job and are far more energy-efficient.

So basically miners can be compared to workers doing terribly inefficient work. To keep with the farmer example, it would be the case of a farmer who uses lots of electricity for his automated system and has the same productivity than another farmer that doesn't waste any electricity.

It is possible (and even probable) that our current banking system is even less efficient than Bitcoin and other PoW coins. But the efficiency problems of BTC are real.

All of these flaws you stated are there to enhance decentralisation.
Bitcoin is designed in such a way to be independent.
If you wan't to be monitored and enslaved by your government you can very well
use fiat.

Bitcoin mining is EXTREMELY competitive.

If you think it involves just "turning your computer on and making money",
you're wildly mistaken.

Anyway, I think it is much more valid than the government turning
on a printing press and making money.  

If you don't believe in a tokenized method of value exchange
then lets all just go back to the barter system.

As far as thefts go, thievery began long before Bitcoin
and will continue long after.  There is even institutionalized
theft of money (Cypress).  Bitcoin is not the solution to
all of mandkind's problems.  That being said, you can
properly secure your bitcoins so they won't get stolen.
There are also insured bitcoin services available like Bitgo.

My rebuttal:

1.  No, it's not ridiculous.  Day traders have been doing it from home for decades.  People that earn money through their computers or technology really are earning it.  It's not a waste of electricity and if anything it will only become more efficient than it is today.

2.  I actually agree with you on this point.  This is the point of technology: solve problems.  I don't doubt that there are already coins with this in mind.

3.  Yes, bitcoin is unstable.  That's really good for traders.  Enjoy it while it lasts.  If people don't understand the instability and risk then they should not get involved with bitcoin.  That's more of a personal decision but not really a detractor of bitcoin.  It's only a detractor if you want a low risk portfolio at this time.  But then again, bitcoin has been going strong for years so it's actually continuing to prove itself as viable and getting more integrated with various ecommerce channels like newegg, tigerdirect and overstock.com

Myself, I often find that using insults in place of a proper rebuttal is a more telling indicator of intelligence.

As far as your discount, my point is that merchants have to absorb the fees to accept credit cards in the first place. In some cases they will offer cash customers discounts to offset these fees. What you are describing is using merchants who simply absorb the fees across the board and pass it along to all customers.

Here is an example, a merchant accept CCs and has a contract to pay the processor a monthly flat fee, say $100 and then 3.5% on all transactions. He also decides to make it easier he will simply spread this cost amongst all customers instead of just a CC ones, a common practice. One particular item he buys wholesale for $45 and he decides if he can sell if for $75 he will offset his cost and make a profit. One of those costs is the CC processing fee. In this example the CC cost would be $2.62 for this particular purchase. So when he was figuring out his profit margins, that cost was taken into account and applied when he set the price.

In simpler terms, the price of the item was set to $2.62 higher than the merchant would need to if he simply accepted cash or payments that didn't require a processing fee. So even when you believe you are getting a discount using your CC, this belief is false as you paid a higher hidden fee.

All this really requires is a bit of common sense, as CC companies surely aren't in business to give money away. The rewards and discounts are more than offset by the fees, hidden or otherwise, that the users pay.

That doesn't make mining more efficient. If there is a much more efficient solution, then mining is a waste of energy and money. That's what technological progress is about.

And regarding the "government press", I will play devil's advocate: The government "printing press", as you call it, is providing price stability, when it's managed well. Bitcoin has no mechanism for this important issue.

Nobody said it was necessarily more efficient.  Securing the network through proof-of-work is
the cost of a decentralized currency.  Some people say proof of stake is more efficient
but still others say distributed consensus by proof of stake is impossible (and I agree).

 

That's a valid argument, but I don't agree. I know there are theoretical attack scenarios on Proof of Stake (Nothing@Stake attack, particularly), but for now, there was never a proof that such an attack is practically possible.

For example, Vitalik Buterin, a well-known cryptocurrency expert, has become increasingly positive about Proof of Stake. For example, in this blog post (https://blog.ethereum.org/2014/11/25/proof-stake-learned-love-weak-subjectivity/) he explains how a PoS algorithm with similar security to PoW can be designed.

Let me give my some opinion about your argument


1. In this globalization and mobilization you should not working with your body but with your brain,for example if you working at a factory which totally automatic robot do you think is not a work?


2. Just because there is no system is safe it does not mean your bitcoin would be stolen. If your bitcoin was stolen you exactly not learn about bitcoin,just know how it works and keep it safe


3.I think Bitcoin currently is not a currency,for me its more as aset and simply payment procesor.

Thanks for making my point[1]. You pay the hidden costs you are just not aware.



Source[2].

The same example with bitcoin: 100 USD worth of bitcoin at current market price of 288 USD/BTC is 100/288 =~0.3472 BTC which can transfered easily with a fee of 0.0001 or even 0.00001. Lets take the higher fee. This leaves us at an USD valued fee of 0.0001 * 288 =~0.0288 or 2.88 centUSD which makes paypal in compination with a creditcard over 100 times more expensive. You also pay with your personal information and your user profile which is resold to advertising companies by paypal as well as credit card companies.

[1] http://www.cardfellow.com/blog/average-fees-for-credit-card-processing/#Typical
[2] https://www.paypal.com/us/webapps/helpcenter/helphub/article/?solutionId=FAQ690

How many times do you need to repeat a lie to make a false statement?

When i buy something it has a fixed price. The cash people pay that fixed price and me with my card get a discount. The merchants dont want cash since they have to transport it t the bank and have a lot of security to avoid beig robed.

The merchants is the ones who want me to use my card. For them it is fast and easy.

I guess you are american by you statements. The US is around 10 years behind in adopting new tech and think they are so advanced.

Do actally think i use paypal very often when i can send money everywhere for free with bank transfer or my card. The only time i use paypal if it is no way to use my normal ways of transfer. That happens a couple of times every decade....


And why do you think no fee means hidden fee? When i use my card to send money across the border i get an SMS from the bank with the amount drawn from the card. That amount is always the same as the one i just payed. I also get every transaction on a monthly and yearly basis from my bank. I have total controll of how my money is spent.

This is quite normal in europe...

If my bank start to charge me fees i dont want to pay i change bank. So does a lot of customers so every bank has to lower the fees.

I think you should seriously stick with fiat currency. It seems more up your alley. Everyone knows that's not going anywhere. Trust your government to do what's right.

That's correct. Bitcoin doesn't made for you. Better the fiat money. Bitcoin is something that can be love or cannot. If you like it you will love it. If not forget it and do something else. But not make complaints if someday someone with 10 bitcoins maybe will be rich.

before speaking out of turn at least you should know the subject . From what I read here there is a problem

Also, it is usually an easy giveaway of someone who has no clue when they call it BitCoin or Bit Coin.

Try NXT

Or Freicoin.

Or BBQcoin

I like bitcoin for what it represents, but there are a few things that make it so very undesirable.

 There's a history of loss and scams with bitcoin (e.g. Mt gox, vaporware mining hardware)
 You don't know who to trust. If you say do your own research, I'll slap you. If I go to a Wells Fargo bank, do I have to do my own research to know if my money will be safe there? Even if I go to a local no-name bank, I can still be assured that the bank is legit.
 It's digital currency that is usually sent and received on the internet and mostly untraceable. It's like sending cash to someone's PO box. If something goes wrong, there's no way to recover your bitcoins/cash.

There is also a history of scams and hacks with fiat money. Every time you give someone your credit card, you are trusting them not to steal your credit card info or that their security is good enough to prevent hacks. Places that let you buy with wire transfers, you are trusting them to not run away with your money. With investments, you still need to do your research when using fiat or you could get scammed like Madoff did to many people.

because bitcoin was meant to be secured at your home in your local wallet not on some shady random exchange, bitcoin it goes against everything that is a third party like securing in a bank or whatever

if you can't follow this simple rule bitcoin isn't for you, personally i love this, i've always wanted to manage 100% my fund instead of rely on someone else, in fact my fiat money were always at home

The products you buy are more expensive because the vendor accepts credit cards. If you cant follow the logic that CC companies charges a vendor and as a consequence the vendor charges you more for the products I cant help you.

Will you tell that the banks too that run hundreds of computers to make the banking system run? Or do you think they deserve to earn something for their service?


So? Then it would be similar to paypal? The only difference would be that now legit sellers could be scammed by buyers that claim they did not receive their item. You would need to have a centralized agency that decides who is right. Who would that be? Why don't you see the risk? Governments could easily bring the currency down that way.


So? Surely you know that all fiat currencies have inflation and lose value every year. Only because bitcoin is so small at the moment it is so volatile. That will change once more adoption happened.

And again, who should make the coin stable? A central agency? Would mean a point of attack.


You might use NuBits. They hold the value of the coin at a value of $1 artificially.

Exactly it is an individual decision whether to love it or hate it, But you cannot blame others in the future if they get rich with a small amount of bitcoins rather then blaming your own decision to quit.
The only problem with bitcoin is the price unstability and that is the reason why people thinks that it is risky to invest in bitcoins. Either it would make you super rich or else with nothing in hand. Choice is yours  ;D