Bitcoin Forum

Hi guys, I made this video discussing the arguments against Bitcoin/crypto, and my response to each point.

Let me know what you think, cheers  :)

https://www.youtube.com/watch?v=glkW-_hU7ZQ&t=301s

Bitcoin anonymity and decentralization is for hackers, scammers/frauds, criminals also. They will run away after the crime.

Terrorists can mine and buy Bitcoin and when the price goes to $400 to $4000, terrorists will have 10 times more money.

Because there is absolutely no other reason for privacy or anonymity, right? If you think only criminals need anonymity, feel free to share your real name, address and phone number below.

Terrorists can earn money in many ways, and if they choose to do it via bitcoin it is a testament to bitcoins success as an investment. Obviously it's terrible that they will earn money from Bitcoins success, but we wouldn't close down a successful company because we don't like 1 of its 1000's of investors, would we?

ISIS terrorists had $3 million in Bitcoin and then Bitcoin went up from $400 to $7000. These 1000% to 2000% profits are not good.

actually the purpose of the creation of crypto currencies is actually good and positive for the development of an economic system by using technological advances and development of the times, if the results for the crime depend on the intentions and goals of the investors

at 2. he didnt said its wrong he just admited that bitcoin is garbage because of its design...... ::)

Terrorists are located in remote areas and do not directly relate to Internet services, so they don’t have the nerve to mining bitcoin as they do now in China.

Also, the process of selling or moving the value of 3 million of Bitcoin will not proceed without a note or request for documents "no one can ask for cash or fight with ISIS for bitcoin."

0 - "bitcoin is ratpoison²"
it is ratpoison². but the real question is... who are the rats bitcoin is poisoning
ratpoison doesnt harm good normal people it harms rats.
in the UK if your working in the busy finance sector it is called living the "rat race" lifestyle. meaning the fiat sector are the rats.

as for the 'squared' well the original 'ratpoison' meme was said years earlier. when the price was 100.. and then buffet called it squared years later and at that very date it was $10k.
i think buffets reply was more of the maths side of it.. meaning he was saying it is the same thing as years ago but the price has squared
100²=$10k.. the price of bitcoin vs the price of bitcoin when the original quoter called it.
so although it sounds bad to give it a derogatory title. the meaning and the value are both deeper hidden meaning. which if you think about it hard and deep, he is right.

1 bitcoin is slow
first of all bitcoin is slow for certain things. but it seems too many people are reading the same scripts and mantra that want to kill off bitcoin utility and hand it over to another network.
LN is not a bitcoin feature. LN is a separate network that will be used by multiple coins. and required bitcoin to be transformed to fit LNs network rather than LN transforming to fit bitcoins network.(i found that funny)
bitcoin can innovate to be better onchain. but those saying its slow, cant scale, cant buy coffee. are literally saying its broke and stop using it.. then offering a different network.. so to those saying use something else like LN or an altcoin.. please sod off. get away from bitcoin yourselves, go play with other networks and let real bitcoiners remain an re-innovate bitcoins network.

2 bitcoin wastes energy..
wrong. but i wont waste energy reexplaining why. ill just quote myself explaining why from another thread
bitcoin uses 20.7twh a year. and that does not cut into other peoples lives. its actually farms buying up the excess energy that would have gone to waste if not bought. so bitcoin actually saves waste.
EG like buying up out of date produce in a grocery store before it goes to landfill so that less goes to waste

and as for your comment about using PoS.. again you seem very hard nosed to actually talk about bitcoin and how its broke and needs LN, PoS.... seems you sound more like a anti-blockchain/antibitcoiner that instead wants a differnt system where it requires middlem men signing for stuff on others behalf...

3. transaction costs are very high
funny part hre again you are trying to sell other coins with cheaper fee's rather than address the cause of the high fee's being devs who want people to stop using bitcoin and to use things like LN..
again i must ask why are you so pro LN, so pro altcoiner, and so antibitcoin...

4. this part i agree. bitcoin is very safe. its the other networks and offchain solutions like LN and exchanges that can be hacked. even the LN devs warn you not to use it with too much funds because it can get stolen. but the onchain funds if you have the only key to the funded address. means you have the only way to move the funds.

5. payment convenience
the use of a conference not accepting bitcoin. is because the conference organisers were not bitcoiners they were fiat handlers who wanted fiat.
the same problem would occur if an american wanted dollars but he was incharge of organising a EURO event with Euro participants. but the organiser didnt want the hassle of exchanging euro to dollar
there have actually been many conferences where by deals were done that all those involved in organising it wanted bitcoin. and thus the fiat demand/worry was of no concern. those conferences were good and worked.
bitcoin is not the problem its just the people involved are the wrong type of people or not skilled to do whats needed

6. used by criminals
all currencies are used by criminals.... yep even cigarettes. (prison currency) criminals will try anything as a currency. its why they re coriminals because they dont follow rules. and cant be controlled not to use anything. they will steal cars. does that make cars bad because criminals use them. no.

7. bitcoin is a bubble
nothing "is" a bubble. nothing in history has ever been a bubble.
EG the housing bubble, this does not mean houses are bubbles and worthless. it meant the price is INFLATED way beyond its natural value.
EG the tulip bubble, this does not mean tulips are bubbles and worthless. it meant the price is INFLATED way beyond its natural value.
you can still buy tulips today. they are not fake. they are actually real flowers. yes dont be shocked hundreds of years later and you can actually still buy tulips.. but here is the thing. the price is not inflated
you can still buy houses today. they are not fake. they are actually real houses. yes a decade after the housing bubble and you can actually still buy houses.. but here is the thing. the price is not as inflated

the key word is inflated. like a bubble. its about the price speculation which changes. not about the medium/unit/product/asset itself, just its price at a certain given time

You said it right because of animosity nature of bitcoin many wrong doers, criminals and scammers are using it for their personal reasons and motives to scam people using scheme are that usually being targeted to all new users and still cooping up with bitcoin. But it doesn't mean its all for the wrong doers, there are still positive uses of bitcoin to the people who really believe in the technology, invested and supported it at all process of crypto evolution.

I think it is a mistake to call bitcoin the currency of terrorists and scammers, because according to statistics they use cash more.

I think You could become a very good professional scammer. All Your reasoning is well sold to naive people, but lack in depthness.

1) Bitcoin is very slow and not suitable for small payments.

This is precise criticism and only minor part of it is important today. It is much more to do with looking into future. BTC scalability issues WILL NOT BE solved. It will either be ridiculously slow or it will not be decentralized blockchain.

Lightning network is a myth. Or even worse, in my opinion its a final death blow of this wonderful scam. When LN announced to be working, I predict BTC has 1-2 months left.

2) Bitcoin uses too much energy.

well, you basically jumped over the core issue here. well done! BTC uses so much energy and that energy is basically wasted because BTC tries to use distributed blockchain for transaction validation. in theory, that is where it "safety" comes from. If You say, that we can reduce energy usage, You say in converted way: "not nearly this amount of calculations (crypto) is needed to run BTC. And I agree with You. Mining at least in this amount is just a mechanism to hide a scheme behind it.

3) Transactions costs are too high.

Strong critics mean "production cost" of transfer here. Its clear to a fool, that when last coin is mined, no one will run their computer for free and basically all mining cost would need to be converted into transasction. This again is just theoretical, I still say, it wont be happening because BTC is a scam and will collapse like one big time.

4) BTC is not a secure method of payment.

You are mixing very inappropriate things here. Yes, blockchain technology is very safe in its core. But it doesnt mean BTC is as a whole. There are many aspects of safety. In normal transaction interests of both parties are secured at least to some degrees. With BTC You are not defended against frauds whatsoever, Your wallet is extremely undefended and trading environments suck big time in quality.

5) Its not convinient to make payments.

You dont even argue there. So no comments needed.

7) BTC is a bubble and only serves speculators.

I guess, not even speculators can gain from BTC as for now. Only price manipulators, p&d scammers and changing platvorms. Its a common mistake of comparing value of FIAT with BTC. You see... value of regular currencies reflects the belief, in how good health are the currect economy, political stability and perspection of a country. If something unordinary happens (civil war, political revolution, economic boom) it will reflect in exchange rate. Similar to stock market.

BTC on the other hand, has NO HEALTHY ECONOMY behind it! Its price is manipulated and it has no real value (because it has no real product behind it). Im not suprised, if price changes are done by whales themselves, when whales move bitcoins between their own wallets, they can mimic price rise very well, then suck in fresh money and after next fall start same cycle again.

It is difficult that someone here click on an external link, also if it is YouTube related.. What about write it on the forum, so people can answer writing here? :D would be interesting ;)

Avoid the opinion that bitcoin is isis or terrorist, what I get here is how we can build and get bitcoin in a good way.
What is the purpose of making a video to fight bitcoin? What do you get?

bitcoin cannot be resisted or discontinued Bitcoin currencies that flow and flow according to their desire sometimes turn sometimes straight and this is getting bigger and growing so we have to follow and learn not to stop or to know so my opinion of technology is necessary for better survival.

I dunno if it was just me, but your audio quality was a bit low, I had to set my volume to max volume to hear you speak. The

transaction fees are too high argument originated from way back in 2017, prior to SegWit and the Lightning network, when

the original Blockchain was still spammed and congested. A lot of the people still saying that, is simply uninformed and have

not tested SegWit transfers yet. We need to find a way to identify these people and then demonstrate to them that things

has changed, since they used Bitcoin back then.  ::)

Looks like Bitcoin has a future more as a digital asset and less as digital currency.

unfortunately the crypto currency and bitcoin can be used not only for peaceful purposes and people are far from being honest but I want to believe in a world where there is a creative side and with the help of the criteo of currency to change our world for the better

They do that with fiat money, too. In a world where so many identities are stolen everyday for financial crime, it's becoming obvious that identity verification is not the answer. Plus, cash doesn't even leave a paper trail; Bitcoin does.


There are lots of other legitimate ways that terrorists can make money. Should we ban them all?


Segwit didn't really alleviate the congestion and Lightning isn't widely used yet. The overall transaction load just drastically dropped in December, when the price peaked. I'm hopeful that LN will shoulder a lot of throughput once adoption takes off, but Segwit's block size bump was just a small, linear increase.

Isn't these not the purpose and goal of Crypto currency?
Bitcoin and other Crypto currency are made to improve the world as better as possible. This is to keep up with the pace of technological progress and growth. The creator of Bitcoin and other Cypto probably see and realize there is a huge opportunity for creating it. In fact, these are often used in the wrong way or crime such terrorism on others. This is definitely out of expectation or from what is the main goal of bitcoin and Crypto.

Well, the energy requirements of Bitcoin certainly aren't something that should just be brushed off, I personally don't think that the current system is sustainable, if only a small fraction of the planet is mining right now and it already draws 1% of the global energy expenditure, then increasing the user base by 10 fold will lead to it being 10%, that's just insane!

Well what the world need as at this moment is the freedom to use the finances as the wish, take for example most of the argument against are all due to it decentralized nature a d being use by criminals to carry out illegal dealings without any trace. But even the faint paper money can also be use to carry out illegal transactions so what the difference.

Terrorist really needs transaction payment crypto because of anonymity aside from buying and selling goods in deepweb to darkweb all because of incognito transparency, and most of the big miners are from those country with a cold temperature for their good mining strong rigs good condition and escaping from reality tax in electricity.

It still uses positive bitcoin for people who really believe in technology, invest and support it in all the crypto evolution. I think it is a mistake to call bitcoin the currency of terrorists and scammers, because according to statistics they use more money.

Some do it for the fun of it with no meaning. I have never heard anyone compare or read anywhere that bitcoin  is  associated with terrorism - it's truly a first, why would they?

Let me tell the story of bitcoin in the past, when bitcoin was introduced a decade ago, every one treated bitcoin as treated by the its haters now a days as it was indigestible for them that how could one currency be so profitable and then they started calling it a Ponzi scheme or a scam or a bubble that would burst soon but there were very few who believed on it and are now the bitcoin billionaires so those who are talking shit about the bitcoin will surely regret in the future and that is why argument against the bitcoin is wrong.

Look at bitcoin positively and don't leave it to the minds of terrorists or scammers. Bitcoin is created well and has functions that are really good, it's just that many people might use it off the mark.
But basically, Bitcoin is having advantages and disadvantages that will not be debated.

I think it is a mistake to call bitcoin the currency of terrorists and scammers, because according to statistics they use more money. As for writing it on the forum, can anyone reply in writing here? Avoid the idea that bitcoin is IS or terrorist, what I get here is how can we build and get bitcoin in a nice way. The transaction fees are too high to come from the way back in 2017, before SegWit and the Lightning network, when Blockchain was initially spammed and congested. We need to find ways to identify these people and then prove to them that things have changed, since they use Bitcoin back then.

I think it is too naive and far-fetched to say or call bitcoin a terrorist and scammer currency, those who value bitcoin are negative but don't say that because bitcoin is created with no direction at all for terrorists and scammers, bitcoin comes as one of the world's economic solutions that is based on a fast, safe and inexpensive technology system for blockchain and cryptocurrency and this may take time to achieve this goal

Unfortunately the video that you provided has been deleted by youtube or from you alone, you better upload it again if it is good and educating, so that we can all get lessons from the video you gave

In my own opinion, there is nothing wrong in making discussion but I believe if arguments will be against btc that could ruin it's reputation that will cause misconception to some of the members and investors, then I believe this is not the right section. Healthy and constructive discussion would be a great idea to promote btc as a currency for investment and the effectiveness as a payment system.

Due to some reasons that video is deleted from YouTube and not viewable to anyone. Make sure that you are following the rules and regulations and not violating any copyright laws to prevent such incidents from taking place in the future. YouTube is one of the popular influencing platforms where we can educate others about Bitcoin and cryptocurrencies but make sure that you are doing it without violating rules and regulations otherwise it might create a negative perception which is more dangerous.