Bitcoin Forum

Some people have that view about BTC. Do you think BTC is a clever solution in search of a problem?

Not really, the problem with FIAT was already there: centralisation, interference of governement, high fees for everything, bancrupt institutions,... Bitcoin was (and still is) a nice sollution for those problems.

I can think of plenty of problems, which existed before Bitcoin, that one can avoid by using Bitcoin.

So, to answer the OP, no.

agreed, but depends on what financial problems, but i would still want that the government won't discover btc for obvious reasons. there maybe risks in online transactions but that depends on a user's trust abilities. anyways in btc i earn extra income without others knowing it.

I don't agree with that statement. It would be similar to saying that all new technologies are solutions looking for a problem.

Did we need touch screen smarthpones? No, but now we cannot live without them. A need was created by the companies that created the products. It was not like we were aching to have touchscreen phones before they were released.

The same is happening here. A new technology was created and this technology has all sorts of potentials. Some users understand this and start building services and use cases on top of it. That doesn't mean that part is looking for a problem to solve.

I think Bitcoin solved the biggest problem of all, called the Byzantine Generals' Problem. The practical application of this solution has not been applied to many other scenarios with the same problem. ^smile^ The solution has been found, people just need to recognize it, and apply it in every day scenarios. The first Bitcoin killer App, will be the one that apply this solution in the way most people want it, not the way the developer wants it. We want to rush this technology, but it is still in it's infancy stages. ^smile^

Everyone wants to be financially stable free...and btc has been one way to achieve that...btc ,will i say has solved most problem...when it comes to financial freedom...and still will solve in the future...

If bitcoin was a solution,the problem (fiat money) should be solved,but the problem still exists.

So what solution is bitcoin?

For me bitcoin isn`t a solution,bitcoin is an alternative.

Those people are ignorant fools. "Looking for a problem"? E.g., infinitely printing out money out of thin air, increasing the gap between the middle and the high class (etc.) is definitely not a problem. Right? Whenever you encounter such people tell them to watch the following documentaries:
Inside Job (2010)
Bitcoin: The End of Money as We Know It (2015)

---

I've only recently watched the first one and was surprised about how little (even I) was known regarding those events.

You have no idea what you're talking about. Bitcoin does solve a lot of these issues.

davis actually has a point
bitcoin is not the solution to banks. meaning banks should use bitcoins to solve their scammy ways
bitcoin is an alternative vs banks. meaning with bitcoin, you dont need banks

Bitcoin helps ease many monetary related problems.A lot of time and resources can be saved by using bitcoin but bitcoin itself is engrossed with few problems that we first need to sort out

Bitcoin is a solution for the tax evaders to avoid tax.

tax evaders and tax avoiders are 2 separate categories of people
evaders are people that should pay but dont
avoiders find the loopholes to not need to pay (off shore accounts, trusts, etc)

but just handling bitcoin as an alternative currency is by itself not enough to avoid tax. just like an american using euros is not enough to avoid a bill from the U.S IRS

It's indeed a solution for some problems, but however Bitcoin itself is still having some problem that it can't solve.

no way bitcoin was the answer to decentralised payment meathods and wrestling the power to create money away from the banksters.  ;D

I don't seem to understand.
Maybe you can avoid tax if your job or main source of income is bitcoin-based.
But if a person like me, who just converts fiat to bitcoin, there's no difference.

What kind of problem do you have in mind? From perspective of a user or perspective of law and governement? Or something completely different? To my opinion Bitcoin is alternative solution to fiat money and problems that come along with it.

No, I wouldn't take Bitcoin as a solution looking for a problem. The problem that Bitcoin was trying to combat was the problems that fiat had brought about with it. For instance, centralization, higher fees and no peer-to-peer transactions.

Bitcoin turned out to be the solution to the problems of fiat.

:)

I think every thing always have a problem and bot only for bitcoin if you searching about fiat or another in internet i sure you will finding a lot of problem about it.

It's all upto the problems only.  I think bitcoin is best solution for overseas trade and businesses This might reduce the tax,  fees for transactions and many more.
 I think this would be helpful for you..

Yes, all things will surely have problems mainly bitcoin. Because bitcoin is a relatively new invention so be advised if there is a problem. Even the currency that has existed since the first was having a problem, because there is no perfect creation, except creation of God. IMO

Ehh the problem is already there. Isn't 4 billion unbanked people a big fucking problem? I guess until the governments remove cash in the next decades the first world idiots will not realize the importance of owning bitcoin and being familiar with it.

No, of course not. The problems of fiat money are blatantly apparent for all that perceive the world with open eyes. Debt accumulation, inflation, high transaction costs, financial surveillance and capital controls are all associated with fiat money. Bitcoin frees the money from toxic interventionist monetary policy and is a great opportunity for global economic development, because it makes global trade much easier.

I admit that currently a lot of people feel comfortable with fiat money. However the time will come for sure when they will be confronted with its drawbacks...

ya.ya.yo!

Bitcoin gave us awareness that if you put your money in a bank, you effectively give your money to the bank and government and no longer own your money. You merely have use of it.

Solution to a problem? Sure I could say that.

Looking for a problem to solve? Nope, just looking for awareness of the problem people already have.

yeah, bitcoin is always the best solution, in my opinion it also has a lot of potential to grow so you would attract more people to your business

i think a more accurate view is a lot of people have a problem but don't know that bitcoin is the solution. and bitcoin's problem is that it's not understood by enough of the people who can make the best use of it.

who is that? the guy in Africa who has awesome skills or products but can't participate in online commerce, the people stuck in weak economies with crappy currencies and capital controls, and on and on.

in a way bitcoin would've been far more powerful already had it come up from developing countries. because it's largely a first world thing it's not crossing the radars of people who feel shut out.

Bitcoin is always good alternative in payment processor and yeah more people are knowing about bitcoin so more price will increase because bitcoin users are increase more..

Well, Bitcoin is the perfect solution for a age old problem which is fiat currencies. The question would be, is the world ready for a currency that cannot be printed like toilet paper? Can the internet handle

a payment method and remittance service that would break the conventional rules? Can people handle the possibilities of cheap micro transactions? Can people accept responsibility for the control over

their own wealth? { Not expect 3rd parties like banks to handle it for them } Loads of problems with ideal solutions.  ;)

I can imagine entrepreneurs making the Mediterranean/South China Sea/Caribbean Sea alive with dronecopters, delivering "duty-free" goods to overseas customers, lol.

WTO, GTFO: We can all trade freely perfectly well, if you'd simply fuck off.

Why bitcoin is a solution in search of a problem?

I mean bitcoin is really really good at many sides and it can help us a lot in many problems that fiat money brings to us but that doesn’t mean bitcoin is create just to solve some problems we have.

Those problems with money have existed long time ago before bitcoin was even born and we still have to face them now despite the fact that using bitcoin can avoid those things. And bitcoin can’t be a solution to a problems when itself has its own problems, nothing is perfect and so does bitcoin.

Bitcoin is a solution for many problems.
Look at the blockchain technology for instance. Every organization is trying to assimulate it into their own corporate operations. Even the banking system is trying to find out what they can do with it. But without much success.
IBM for one has been the most successful in this search for it's use in it's own environments.

the monetary system as a whole is a problem (and capitalism too, but bitcoin doesn't solve capitalism).

It does solve some of the problems of our monetary system though, since it provides a more even playing field.

The problem is though that most people don't realize how bad the financial system actually is.

Even though we have had years of financial crisis's and unlike a few years ago it's now common for both partners to have a full-time job and STILL not have any savings at all. And stil people do not see the problems right in front of them.

Bitcoin will not solve inequality, but at least it will make the financial system a bit more fair. and the sooner the world realizes this, the better it is for everyone. (Especially for early adopters, but even late adopters will be better of then they were in the fiat system).

How could it ever be possible to "solve" problems with capitalism using any alternative money system? Do you know what capital is? (capitalism and money are inseparable if you know what "capital" means)


No it won't, nothing can. There wouldn't be any point in having separate humans if everyone was the same. Remember that part in "Being John Malakovich" when Malkovich goes on the ride himself?

I guess when you think about it in terms of solving ALL of the monetary problems in the world, probably not.  It's not feasible for everyone on earth to use it for their daily purchases, but I think it is an important tool/asset to move funds from one person to another in certain situations (and no, it doesn't have to be illegal situations).  If you are trying to sends your family funds from one country to another, making an online purchase, a form of a savings account, getting away from debt driven fiat, etc.; these can all be solved by bitcoin and other cryptocurrencies.

Bitcoin was an idea.

Now it is a glorified database carried on the backs of bagholders waiting for "mass adoption".

That's the one thing that seriously dumbfounds me... Everyone who knows me IRL pretty well knows I'm a big advocate to end central banks/fed reserve, and sometimes conversations about it will start, and when I try to explain it seems like a glossy stare just wipes over them and they don't fully comprehend anything I had said...

Even giving them real life instances where you can clearly see that there is a constant devaluation of their money over a period of time (college tuitions, cost of living, etc.), they just take it more as a fun fact to know rather than a slap in the face/"WTF" moment.  It just seems that there is such a level of conformity and blind trust in a government that has proven time and time again to be faulty... and it's kind of depressing tbh.

I agree with this, mostly and I've heard the phrase before.   Bitcoin does solve some problems, but I can't find a reason to use it instead of cash.  Fiat is easy to use and with banks there are protections that don't exist with bitcoin.  I think that's significant.  I love bitcoin as a store of value but hate it as a currency.

The problem with fiat is a matters of principal (at least in my mind)... It's banks "printing" out money from nothing, though now fiat is more digital than physical. 

The media likes to portray bitcoin or just cryptos in general as something only criminals use, even though physical fiat notes and gold are used way more for funding things like terrorism. Then, in kind of a complete irony, using things like visa and mastercard is the complete opposite where everything is tracked and recorded in your name.

Though cryptocurrencies aren't useful for everything; the main thing is just trying to get further away from a central banking system.

It is a great solution. But it already has problems. If it didn't have problems and was "perfect", I would be swimming in cash as my bitcoin goes to the moon.

Yes, and I agree with the principle of freedom of money and the corrupt, out-of-control, money printing.  Absolutely.  I also like the low fees, and that's only sort of a problem, because PayPal has low or no fees just sending someone else money (I think).  The rest of it, I don't know.  I find absolutely no reason to spend what bitcoin I have.  What I have done in the past was sell it for fiat and use the fiat to buy whatever I need.  Unless and until things are priced in bitcoin, and we all get paid in bitcoin, I'm going to have no impetus to spend it.

who are these spme people, i have never heard this before you said it here.
and no it is not, bitcoin was created to solve the problems that were already there like the problem with banks, the charge back system and many other things.

Indeed, everybody wants to achieve that goal to become a financially free, It is also true that bitcoin has solved "MOST PROBLEMS" when it comes to that case. But take note of this " NOT ALL PROBLEMS "are being solve by Bitcoin. True that Bitcoin has lot of advantages but There is also Disadvantages depending on the situation of the circumstances that cannot be solve by it.

It doesn't have to be that way, both can exist alongside each other or maybe even merge into a hybrid system. Personally I don't think there is anything wrong with the current system but Bitcoin does bring a few improvements to the table. Flexibility in one's stance is key to efficient evolution.

I never think abut that but otherwise from that bitcoin becomes a good solution for solving my financial problem. :P maybe just people never feels about the advantages of bitcoin is can saying about it and the not using bitcoin with the right way.

Depends what problem we are talking about.
I think that btc can solve many things, because it is the fastest way to pay someone from other country- bank transfer won't do the job actually.

It is all fun and games until Paypal locks you out of your own money (hint: You don't own the money on Paypal) when you're in an emergency.

The reason for spending Bitcoin is the same for which you spend any currency.

That process is likely going to take a lot of time (especially pricing in Bitcoin which should require stability).

What disadvantages are you talking about and what "problems" did it not solve?

Bitcoin is a solution for a certain issue like problem in money because it can give you way to earn but i think it cant resolve everything. it was just an option and can give you convenience.

it is the other way around in my opinion. bitcoin is a clever solution for many problems. it may not be perfect and needs more work and it also may have some features that not everybody likes or prefers but it is the best thing you can hope for to get out of a cryptocurrency.


then why are you still actively involved with bitcoin?

BTC is a solution to all the financial problem with centralized systems like banks and taxation as well as blockchain behind bitcoin can be used for several real life application. Therefore i think bitcoin/blockchain can be solution to problems in many fields.

money is a very deep term which has a lot to say but in general forum we can just say ithas a valueand we can get good in return of it so,everyone needs miney but it creates a money problem in many ages but bitcoin has bring a revulation to this generation its exactly what we needed

Well yeah for now bitcoin will the solution for this issue.. and we know that  bitcoin is growing day by day and more adoption will come in bitcoin so it can help to resolve this issue.

of course it can solve a lot of things, it is a perfect currency and in my opinion it is going to be bigger and bigger in the future

Governments dont consider taxation as a problem.  :P
If they think Bitcoin can interfere with taxes, they will come down heavily on it.

government consider anything that interferes with their process of taking taxes as a problem, and so far they have come down on those using bitcoin as in a business and do not pay their taxes of their earning so hard.

yeah bitcoin is a really great currency that does not require banks so you can save a lot of money as you dont need to pay fees

I like how you approach the topic. I think Bitcoin is indeed the solution for something that will happen some time in the future but what have not happend yet. Our current paper money system will break down one day. Then people will lose trust in authorities and will looking for alternatives which are not controlled by an institution.

Everybody needs to be monetarily steady free and btc has been one approach to accomplish that btc ,will i say has understood most problem when it comes to money related freedom...and still will unravel later on

I remember the days when I was not involved in bitcoin, and now with the help of bitcoin they are solved. A much bigger change in the world financial system (especially in online world) has been occurred.

Yes I agree bitcoin is a great solution for our recent financial problem.Bitcoin could be the one currency which accept every country and can be use frequently.But there have little problem with fees fiat currency dont charge fees for hand to hand exchange.if bitcoin dev have the solution for this it it could be era for bitcoin.

"Bitcoin, a solution for many Fiat problems" It sounds more realistic. ;)

Haha, that is certainly true. That bitcoin is the solution to the problem of fiat. because when we use the bitcoin, will not get a big enough piece to every single thing we do in the bitcoin. Bitcoin is also the best assets to make investments. because in the bitcoin we only wait as prices fall and high.

I was talking to someone about bitcoin one day and asked, 'why don't you have any?'

He said: 'All I hear are bad things - hacks, thefts...'

I said, 'Doesn't this happen with the dollar?  People steal and cheat trillions every day. I've never had any of my BTC taken from me.  If yours gets stolen, the blame lies on you - leaving it on exchanges, etc.'

His response (by his composure he thought he was winning the argument):  'So all my funds are going to be safe on a piece of paper or chip/USB?'


.................


I couldn't do it any more, HOW ARE PEOPLE SO CLUELESS TO THE FACT THAT FIAT IS JUST AS RISKY?  Are we going to keep arguing until we reach the subject of who places value on what and how it is determined? ARGH

I really dont  understand  on what he mean , as you said it more realistic and easy to understand compare to the topic title in my own opinion.  ;D, Money is a very big problem  for some because  some  have a hard time on gaining it physically with bitcoin  you can earn without risking everything.

there is no a problem with fiat but in their system is having a lot of problems, starting from the institution is managing a fiat and until the goverment. too many a problem in fiat system is made the people is starting for finding an alternative way for that.

It really isn't a "magic bullet" to fix the situation the world is in caused by central banks.  You can't just rely completely on bitcoins blockchain for everyone to use because there are limits to what bitcoins blocks can hold.  So to say "fuck fiat lets force everyone into bitcoin" isn't a real solution as of now (even though it would be nice on a theoretical level). 

There is some building devs need to do to fix issues of fungibility and block sizes... until then, we will continue having to rely on using fiat for everyday bills and stuff and have bitcoin as "fun internet money".

I think what people have problems with understanding is that they are super reliant on banks, and that the fact that they are is a bad thing.  The world has gotten so "idiot-user friendly", that people can't seem to fathom being reliable for protecting your own wealth; because banks has things in place to protect customers from fraud/theft it makes them feel very secure.

Because he belongs to the majority of people that only do things that are acceptable by the conformity and is too scared to try something new.

Can't actually argue with that. The social media has introduced bitcoin to people as something that is used in the "Deepweb" and the deepweb is something that you don't wanna explore. And because of that, all the positive things that you can get from using bitcoin is now shadowed by the negative and scary thing.

That person you're talking to is just a commoner in terms of IQ level. He's like all the other person that I've talked to about bitcoin that can never be able to adjust their perspective/PoV about a certain thing, in this case, bitcoin. When you try and encourage them to join this community, they'll be all like "Errrrrr. I don't know, man. Blah Blah *insert lame excuses here*"

I agree. Bitcoin is an alternative than solution. It needs time to solve money problem totally.

So, in other side, to decrease the problem, we have bitcoin to use as money like fiat even the problem is still there.

Not all can be solved by this currency. If what you meant is bitcoin looking for a problem to which it will also be solved by itself then than could be right. Bitcoin created it so it is also the one who can solve it.

I have doubts bout it but most certainly bitcoins has created a lots of problems and still solved so many and changed people's lives in so many ways, only if bitcoin didn't need special machines for mining it would have be perfect. 8)

yeah, it also would have been great if i had wings so i could fly and also if i could poop gold so i didn't need to work anymore and live happily ever after :D

I am agree with this but unfortunately many government don't realize about this and they don't give their statement about bitcoin. in my opinion if the government wants to open minded about bitcoin and give a time to learning about bitcoin, then it will be another solution for their problem in economic especially in their bank economic.

and for now, I think bitcoin will be a solution to us when the rate is up and will be problem if the rate is down  ;D

Yeah pretty much this is the clever way of this company to play us in their hands.  We did not ask for anything advance but they give it to us and make us believe that we need them that much by simply making stuff that is accessible only thru their gadget. And yes that doesnt mean that part is looking for a problem to solve.  And if you read the history, Bitcoin is created because of this certain problem so the answer is No.

Maybe in some cases bitcoin  showed the people that they had a problem they did not even know about.
Like the lack of anonymity that comes with every online transaction.
And for that problem bitcoin even delivered the solution at the same time.

Being confronted with "to Bitcoin or not to Bitcoin" forces people to think about the concept of money. That has a tendency to make said people try to come up with a rational argument for why they "choose" to use fiat, lol. This can quickly turn into the "I never asked to know who Santa Claus is/where babies com from/who shot JFK" style of reaction.

One day, they'll notice how wealthy all their Bitcoining friends are :D

You bring up a great point here. People don't 'choose' to use fiat, it's something you're introduced to before you can even understand it (as a baby/toddler). If we introduce bitcoins as normal to the next generation then they'll just consider it normal money. It's kind of hard to explain to a 2 year old why decentralized cryptocurrency is better than fiat, but you have to start somewhere!

Revolutionary technology is often caught in the ironic position of solving a problem that is not really percieved by the masses. This is the case with Bitcoin.

Similarly, back in the day no one understood why the internet was huge, of course, except the smart people which where the small group of technical people/geeks/hackers that saw the potential since day one.

Sooner or later, Bitcoin will shine, be glad that you even know it exists today.

100% agree with everything you said. You always here the same thing from these sheep

"I can just walk down the post office anywhere between 9-4, buy a stamp and an envelope for $3.00 and send my friend a nice letter. Why would I want to email them? It's impersonal/cold/dumb/im too dumb/im computer illiterate/ I'm illiterate in general / I'm stuck in my run and that's the way I likes it ya dang hoodlum"

"Why would I use Bitcoins? It's just fake Internet money for nerds and criminals."

If you do 0 research on something it's very easy to have a misconstrued opinion on it.