Bitcoin Forum

Every good thing has side effects, I believed bitcoin ha play roles of changing lives and improving digital structural economy. But bitcoin also has negative damnation on lives by impoverishing people of their spare resource and income. Today I want point out some negative impact of bitcoin on societies such as:
1. Bitcoin is not easily understood by people with no knowledge of it, at such scam and fraud is high on them.
2. No refund to anyone who incurs loss through keys, seed phase or fraud.
3. Privacy- bad people trying to give bitcoin bad name by faking bitcoin apps and site.
4. Cyber hacking - cyber wizards an fraudsters makes people to loss bitcoin wallets and money.
5. Price vitalities - bitcoin price is unpredictable and nobody as monopoly of the market.

Really? Maybe people like you just choose to be ignorant about what's going on
How can you compare this;

Bitcoin                                                                                              
https://cloudfront-us-east-1.images.arcpublishing.com/coindesk/PVYKUCRVAZGBRKILHO7L7OJNDY.jpg

to this

Fiat payment system
https://cloudfront-us-east-1.images.arcpublishing.com/coindesk/5WH34RSEUBCHJDON3N7QNCBFWY.png[/center]
Source (https://www.coindesk.com/markets/2014/05/29/two-charts-show-how-different-bitcoin-and-fiat-payments-really-are/)


When you withdraw your funds from a bank and then lose them, do you get a refund?

Privacy is good. Just like you are not letting us know your real name, where you live, what you do and where you are right now via this forum.

The same happens to fiat, even worse, corrupt politicians, robbers, cyber hackers, etc. Stop making it look like it happens only to bitcoin


Have you taken a look at different stock markets and fiat currencies of a number of countries?  ::)

Only 5, please add more so we can all answer.

Bitcoin makes it easy for anyone when they try to be curious about Bitcoin so there are no attempts at fraud. Only people who hate Bitcoin would commit scams like spreading FUD.

The loss occurred due to a negligence made by the owner so that it is impossible for the owner to ask for compensation for the mistake he made himself.

Why is the state willing to hire high-paying special officers to maintain data. The answer is because privacy is very important.
The closest logic to describe this to you is that you will be furious when I try to leak and share or sell your personal data to others.

An elderly grandfather kept fiat for decades as a result of his daily hard work and when he was about to exchange it at the state bank, the bank said that the money that the grandfather wanted could not be exchanged and was no longer valid and this is the true story that happened in my area.^[1]
Another example of a stock game.

[1]. https://www.cnbcindonesia.com/news/20230430162415-4-433343/tidak-bisa-ditukar-ini-nasib-uang-ratusan-juta-kakek-sarneli

How does this happen? I don't agree that bitcoin impoverish people, no it doesn't except if you want to multiply your unit or fraction by trading it. If you make a decision to trade your coins then it is not the fault of bitcoin but the trader that refuse to hodl only. Example if you are hodling 0.005 in btc, it will remain that value after bear market and can increase if the bull season come but it is riskier to trade it because you can lose all of it. Hodling bitcoin is not negative but trading it can be negative if you lose.  ;D

I can't think of Bitcoin as a negative influence. From what I know and understand, it only has a negative influence on people who doubt it.

But for people who believe that it is a good long-term investment and it has been proven that there is really no room for the word negative in bitcoin because there is trust in bitcoin, that's how simple it is to understand in my opinion. Maybe it only has a negative influence on you, not on us who believe in it.

I dont see these as negative influence, a rather strong word to say and things which are also applicable to fiat.

I understand that these phrases are coming from users who are newly exposed to crypto and observing things related to it while making comparisons with fiat.

No-refundable - A good deterrent to careless spending and being alert when sending money. You will think twice before sending money to a random stranger and also reduces beggers from getting the easy change off daily passengers. Imagine beggers with QR codes on the road, they will get ignored by everyone.

Privacy - is important but not completely possible because we do use centralized exchanges and buy gift cards on online sites which log our IPs and all.

Hackers - they are everywhere, in this century basic cybersecurity measures should be learnt by every user. It is a necessity and they are enough to keep you safe.

Price changes - I urge you to check the yearly volatility of bitcoin, it remains under 15%.

I think those you've mentioned will be a bad impacted only to newbies. I also started from no knowledge so before engaging to this industry I've studied how it works and of course I'm aware to the decentralized nature of Bitcoin knowing these things would make you to have a wise decision. Having no knowledge itself will be the first disadvantage where almost everything you've mentioned will fall. Cuz if you know how to manage Bitcoin in this industry, scammer couldn't even have a chance to scam you, you'll only need to think of your strategies for your calls since we all have different preferences.

Because people don't want to learn more about bitcoin, they run into scams from programs that end up being fraudulent. If they were willing to learn more about bitcoin and the program offering the investment, they could find out if the program turned out to be a bogus investment.

People think that after buying bitcoins, they can join those programs to increase their bitcoin amount. But the truth is that it will only make them lose their bitcoins, and they never learn about it.

As long as you can keep your bitcoins in a separate wallet and never tell anyone how much or tell anyone that you have bitcoins, you will be safe from hacking, fraud, or theft. So when people decide to invest in bitcoin, they must look after it.

Imagine you have no idea about Bitcoin and someone out of no where tell you that something is far superior to Fiat currency, bro you will be laughing nonstop, because it will sound to stupid to you, for some people till today, Bitcoin is nothing but the largest successful Ponzi scheme.

There are many friends and relatives that believes this, and they believe that one day the bubble will burst, they are trying to rebel against Bitcoin, hoping to prove that it's a scam after it's burst and made people lose their money.

Instead of them to try figuring out what Bitcoin is all about, they hope for it to fail.

People having a misconception about bitcoin is not a negative influence to me, they people has the lapse from their end in the lack of the ability to try out something new, take a risk and believe in what bitcoin has come to offer in the entire financial system and economy


I can't accept this is well as a demerit to bitcoin becau if you're been careless with your fiat currency abd lost to due to vulnerability or attack it's all gone for life, same applies to bitcoin, you can make a mistake and expect it to be reversible or undo when you're at fault and not the blockchain technology.


The more reasons to avoid storage of your asset on centralized exchanges, or believe all those crypto influencers and some crypto projects, NFTs and their likes, the bad ones are many than the few good ones.


The problem here is not bitcoin but you for using a centralized exchange and been careless with your wallet security and private keys.

Scammers are everywhere and they're not just taking advantage of bitcoin but also even in the use of fiat, they can be found.

While someone who's enthusiastic about bitcoin don't see bitcoin's volatility is a negative thing to be considered. It is for sure that newbies will think of when you say that it doesn't have a stable price but instead it has got a variance on its price.

These are people that knows nothing but want people to see on their misfortune. As a Bitcoin investor, we don't intend to see non-bitcoin investors miss these opportunities.

But them to expect bitcoin to fail, these minds are nothing but crab mentality.

You list the negative aspects of bitcoin. Do you think that cash, bank accounts, the stock market or other financial instruments have no disadvantages? Everywhere has its downsides.

Cash, for example, can also be stolen from you, it is subject to strong inflation, paper banknotes burn very well and so on and so forth. But the world doesn't stop using it, right?

I'll add some of my comments:
1. Moreover,bitcoin is not convenient for use by ordinary average people.
2. Bitcoin doesn't forgive mistakes of its users. Wrong amount or recipient address - your funds are lost forever. The need to ensure safe and secure storage of seed phrases.
3. Pseudo-anonymity and permanent preservation of the entire history of transactions in the public domain.
4. Almost the same as the 2nd paragraph. The need to take on the role of a security guard and be your own bank for yourself.
5. Non-constancy of bitcoin price and unpredictability of changes.

Despite these shortcomings (and not only) bitcoin still continues to be an excellent digital money and investment tool. This is the case when the positive aspects more than compensate for the negative ones, which can be neglected under certain conditions (that is, subject to certain actions).

Where is the negative if someone can place bitcoin correctly and cases of fraud in the name of bitcoin cannot be separated from individuals or groups who try to take advantage of other people's stupidity, but it is not actually bitcoin that initiates fraud?

More precisely, it is stupidity that brings people to the stage of fraud, what is the difference from the fiat system that has existed so far?

Again talking stupidity about refunds due to errors in transactions. Can you exchange when you buy the wrong item?

All the complexity in this world is inseparable from how you can control it, including privacy, counterfeit apps and fake bitcoin sites. Attempts to scam are everywhere and many people fall for it due to ignorance.

If people can why not us. If they are able to deceive why can't we avoid being deceived? while there are secure wallets to store bitcoins.

The advantages possessed by bitcoin and for this reason we believe in a system of freedom in holding bitcoins. Meanwhile the fiat system tends to be controlled by certain parties and can be monopolized according to interests.

@Godlovesyou   In summary, of your four points about the negative influence of Bitcoin, can you point out which of those negative influences is new to society as a result of the development of Bitcoin?

The only negative influence I see here is people like you who choose to put all the blame regarding all the bad influence and negative things going on in society on Bitcoin, as if Bitcoin is the problem. All your listed negative feedback is also seen in every other financial sector.
Regarding losing funds when you lose access to your private key and all that, if you can't take care of your own personal belongings, why then own them? Those are not things you should blame on Bitcoin, but individual mistakes and carelessness for which anyone should take responsibility for their own security.

Hacking and hijacking of funds are primarily for those who hand over their funds security to a third party, and when that third party's security is compromised, everything is lost. It also happens in the banking sector, which is not something new; bank accounts are being hacked and individual funds are being hijacked. Any money that is in your personal wallet, especially a self-custodial wallet, cannot be controlled or moved out by anyone aside from you unless the security of your wallet has been compromised by you, which is mostly as a result of users carelessness in clicking on malicious and untrusted links, which gives hackers control over their wallet. It's not something new.

Sometimes this week, a similar topic regarding the disadvantages of Bitcoin was also listed, which is almost the same point as yours. You guys just need to understand that whatever you are seeing as a disadvantage of Bitcoin is not the fault of Bitcoin but something that has already existed even before the invention of the currency. The earlier you start realizing this, the better it will relieve you of this negative energy you are having with Bitcoin.

It is a fact that some individuals may experience losses in Bitcoin due to a lack of patience. This is because there will always be someone selling and someone buying, meaning that some individuals will gain while others may lose. It's important to keep in mind that Bitcoin is constantly changing hands, which can contribute to its volatility. However, if you are a strong holder who doesn't engage in frequent buying and selling, you may be more likely to experience gains. It's also worth noting that scams and frauds can be found in any industry, and should not be the sole basis for developing negative opinions about Bitcoin.

I often have problems understanding why ignorance they say is a "no excuse" but in this @ OP, this I could understand.
You know, there is a hunger difference with when you clearly are aware of the existence of something than, when your fully aware, don't care a thing about it and then some day you just jump on it and hope not to get hurt. Come on, life isn't a place to be comfortable about when you ain't doing great. You have to be willing to put figure things out on your interest.

1. If you don't know something, you learn. That's how you cure ignorance and even better now, we've got multiple source of information.
2. Nothing is perfect and there are rules to ensure safety. Follow them and you won't bother about losing your keys or seeds and refunds.

Nothing comes to you when you do nothing.

There are many men of God preaching about Jesus Christ, but is it everyone that's receiving this message? Hell no... It's the same with bitcoin.. some persons choose ignorance over information and knowledge that can put power in their hands.

When you're careless with your debit or credit card information and it gets into the wrong hands and your money is wiped off from your bank account... Do your bank give you a refund? Hell no.

Scammers, fraudsters can never stop trying to use it to defraud people but that doesn't make Bitcoin bad either.

Bitcoin is a volatile asset, the price is not stable and that's one of the things that makes it beautiful.

Most people are too lazy to learn and do research.  They wanted to be spoonfed and don't want to exert effort in learning new stuff.  Aside from that, the greed makes people fall into scam and fraud.  it isn't the action of Bitcoin but the people itself.  Bitcoin is in no way can influence people to do fraud.



No one will refund a person because of their negligence.  The same rule applies to every services.  if it is the person fault, even banks can't refund him of his fault.


So it is the bad people and not Bitcoin.


Still this is human generated crime.  Bitcoin isn't a part of this.


Almost all markets are unpredictable.  It is a normal thing in trading.

The only negative influence I can see in Bitcoin is when you put your shoe on the financial institution place.  Bitcoin can take away clients, users, and believers of the traditional financial system.  But if we put ourselves on the users shoe, it is a good thing to have freedom of financial transactions.  Most influence you stated are caused by a human greed.  Bitcoin has nothing do about them.

Nobody had a knowledge of bitcoin, everyone learnt. If you do not understand bitcoins, learn from credible sources and not from any person new and even old sometimes.


This is why we should be more care every time.

The price volatility is also a positive side to bitcoin that many people have benefited.

Change is inevitable , if you don't want to move with it...it will go without you! This is as good as the Tin can telephone days and then the telephone came and you say am not ready for the new tech, am sorry these technological development's will happen and people need to be invested in them....Same thing applies to crypto, this is the digital age and most of the stuff we do today has a footprint in the digital world and this is whats happening even with our money.

definitely one of the downside of crypto but this also solves the issue of bad actors trying to scam sellers or other parties after a successful transaction,  it's all about getting used to it.

I think people are now woke and will see such a mile away.

Fiat suffers from such kind of attacks and not new to crypto but its all about improved cyber security measures  and getting educated on how best to protect ourselves and have zero tolerance on pirated software as this is also a source of compromise.

Unpredictable but system  still works thanks to supply  and demand!

Well I don't see any difference  in the negative aspect of bitcoin  and that of fat because all you've mentioned also occurs with fiat and most times we shouldn't  be expecting  so much from bitcoin  but rather just see it simply see it as a digital  currency  which can also serve as a digital investment  and asset.

There is nothing wrong with the volatility  of bitcoin  because its the volatile  nature of bitcoin  that also makes it possible  for people to earn gain or loss and the profits people make are also paid from  the losses of others, and hence  we ought to stay at the top of the game always and stay very smart as well.

That is why everyone who is interested in Bitcoin should learn the basics about security, how transactions work, how to manage a wallet, and of course about investment strategy which must be always focused on long term goals, since we can't predict Bitcoin price on short run precisely.

Since many investors want fast profit, they claim to have lost money with BTC. But that was actually their fault for not having held their coins for longer.

Bitcoin has a negative? right because I never let go of them since a few years ago and it's really sticking :D
But in this case I think everyone's perspective is different and indeed things like this cannot be forced further. you say it's negative then it's back to your rights because there are indeed some reasons that you might think are strong about it, but on the other hand I do it my way and I like it because there are good things that I get especially with the finances I have have at the moment.
When looking at comparisons like this I'm still doing what I think is bringing change and bitcoin is bringing that to my life right now so that's enough for me.

I wouldn’t call this a down side of bitcoin because it is a general problem, you hardly have even banks or centralized exchanges returning funds after loss or hack or any scam. The fiat banks are even worse because they will certainly blame you for losing your funds after they are responsible for having your informations online. I would rather have my funds been held by me, if something happens I will have myself to blame rather than some centralized bodies.

I've had some horrific experiences trading Bitcoin, and some events in cryptocurrency are unforgettable, which makes me desire every day that I could move the hand of the clock in my favor. Now is the time to make up for the things I've missed in the past that are still bothering me today, not an easy tasks but with determination and consistency, it will be achieved. Bitcoin's existence in the ecosystem is a solid foundation that traders and investors rushing to profit without a solid base to back up their choice or line of action, Bitcoin has both positive and bad effects on traders. 

How many people actually understand the fiat monetary system? I suspect more people understand Bitcoin, than understand the realities of Fiat currencies. Certainly Bitcoin is talked about far more. Fiat operations and creation is kept a secret as far as possible.

If Bitcoin isn't easy to understand for some people, it isn't a bad influence. Crypto scams aren't that different from other scams, and you don't need to be a blockchain expert to avoid them. You can be very similarly a victim of a fiat-based scam if you send someone money and expect to get back twice the amount because it's a 'giveaway', if you enter your online banking info onto a phishing website and so on.
#2 is more specific to Bitcoin, but that's just a result of decentralization and financial freedom. With freedom comes responsibility. #4 isn't specific to Bitcoin (or cryptos) either. As for #3, criminals use fiat as well, so it shouldn't be counted as an argument against Bitcoin. And #5 is the price volatility, which is higher than with many fiat currencies, but it's also a result of decentralization and financial freedom.

Everything has both impacts or influence. If one has to influence by anything, then he has the choice to look to which value of the coin. If he wants, he can easily get influenced by the positive factor, and if required one can easily get spoilt through the negative part. The features you have mentioned is only possible due to the advantages of Bitcoins. Bitcoins are free from any tax and the anonymity it provides is really unique. Many scammers use this to target the common mass and hence Bitcoins are looked with hatred.

actually it's not a negative influence but a risk of using bitcoin, so for me everyone who can really make a profit has its own risks, for example in trading we also have risks so it's not a negative thing and we really have to take care of all these points so we don't experience any loss in investing in bitcoin, and you need to know that we cannot get bitcoin easily, all need a process and a way to use bitcoin so that risky things are born as you explain.

Bitcoin is not that hard to understand, those who don't like Bitcoin or don't want to see Bitcoin succeed are those that makes Bitcoin looks hard, and they have nothing to say then call it a scam, the definition of Bitcoin is available on the internet and with the definition, it says everything about what Bitcoin does.

Every technology either big or small has its negative and positive sides, and the volatility side of Bitcoin is not entirely that bad like many are saying, Bitcoin price can't ever be attractive to me if the price is not going down, I will never have any Bitcoin right now if the dips opportunities are not on sale.

Bitcoin volatility fixed the balance of the endless desire for buyers and long-term holders, all at once.

While you see this as a disadvantage, others see it as an advantage and are using it to make lots of money from trading or short term investment. Bitcoin isn't unpredictable as you can predict what will happened to the price of Bitcoin either by looking at the charts or its history. The prediction must not be accurate but it could be closed like predicting a range the price would be trading at.

We know that Bitcoin price usually pumps after the halving and you can use such information when investing or trading Bitcoin. The price of Bitcoin also crashes two years after having and you can use that information for your protection to avoid buying at the peak of the market.

The coin had the two sides,So everything had their two sides of effects.The bitcoin had more positive impacts as compared to the negative.Bitcoin was easy to understand,even the people with less crypto knowledge can do the transaction by themselves.Because now we can easy to send bitcoin by copy paste of address and scan of bitcoin scan code.Being a mature person you should keep your seeds and private key very safe.It’s like the key to locker with huge money in it.Some bad people using bitcoin to scam,it’s not a scam of bitcoin.It’s scam of the person and not bitcoin.So get the clear view about cryptocurrency and bitcoin.

The volatility of the bitcoin can also be viewed as negative if people will start use it as the main payment method because the price is constantly changing where there will be gonna be some confusion but when it comes to traders or investors like us, it is good because the volatility help us to make profit through price appreciation. A lot of us are using it as an advantage to easily enter and exit in the market with gains. I saw some issue when it comes to view of the people to bitcoin because they see it as stable and my advide is do not ever see bitcoin as a coin with fix value because it is one of the asset that has crazy volatility especially when it the bear appears and the huge dumps starts to appear.

There is really disadvantages but we should not focus on it, better if we will see the advantages of it and its benefits rather focusing on its disadvantages. Remember that we have limited supply unlike the fiat especially the US dollars which have unlimited supply which makes it worthless very soon. The global order is starting to change, the US dollar is now losing its popularity in the whole world and for me it is also the time for a lot of people to consider the importance of the bitcoin because its value keep increasing over time.

Rather than a negative impact, I believe these are just some of the unfortunate things that could happen to someone if they were being careless. But since it doesn't happen to everyone who's into Bitcoin, I don't think we can consider it as a negative influence. It just depends on the person on how he manages his own Bitcoin, so if someone experienced one of the lists you've mentioned, it's not Bitcoin to be blamed but himself. Yes, hacking and scamming are rampant but it's the same with fiat. If you have money on you and someone stole or snatched it from you (which is also common), it's not considered as a negative influence of paper money but can rather be considered as an unfortunate thing that happened to you for not being aware of the surroundings or being careless.

That's rather he cursed himself, the behavior you mentioned is the behavior of people who can lose money wherever they are, being in a trade will make the bitcoins they have disappear.
In bitcoin it will be profitable if we can hold it, its true nature is long term to get enough returns, not suitable for people who want to get rich quick but don't know the science.

Unfortunately the OP created FUD on his own bitcoin forum, we could explain a thousand deeper reasons to use bitcoin for financial freedom, a brave but stupid move since it seems like he mixed bitcoin with Altcoins as the source.

I think except last two points, rest are the ones because of which bitcoin actually sustains and is working today. It's because of it private nature and pseudononymous nature that you feel it's so good and is a better alternative over fiat. On the same side understanding is something that comes with time and eventually you'll see a lot of people understanding bitcoin, you'll be surprised to know that even a lot of people don't even understand fiat right now, so I think it's okay if people don't understand bitcoin as well.

It is a truth that some people may lose money when trading in Bitcoin because they lack patience. This is due to the fact that there will always be buyers and sellers, meaning that some people may profit while others may lose. It's critical to remember that the frequent hand-to-hand movement of Bitcoin can increase its volatility. However, you might be more likely to make gains if you are a solid holder who doesn't indulge in frequent buying and selling. It's important to remember that frauds and scams exist in every sector of the economy, so they shouldn't be the only reason people have unfavorable perceptions of Bitcoin.

I will respond accordingly
Scams and frauds has nothing to do with bitcoin. Even when using you regular bank app and internet there are scams and frauds lurking all over the web space, do you then go ahead to call your bank a scam and a fraud. Please separate the act from the product or project.

If you pay attention to details and follow the conventional rules and regulations guiding the using of bitcoin or should I call it the code of conduct, then you will not run into any of these issues or be a victim.

There are phishing sites for credit card fraud and what have you. so, it is doesn't only happen in bitcoin. There are very bad and terrible people all over the internet seeking to reap where they did not sow.

This is why they always say "Not financial advice" in addition your investment and interests in bitcoin should match you financial and personal goals to be able to withstand market volatility. 

All of those points are either not exclusive to bitcoin or a misunderstanding on your part.

1. You do not really need to now how your car works in order to drive it, as long as people read a few articles they will learn how to secure their coins properly in minutes, also the number of scams and frauds is much higher with cash and credit cards.
2. You do not get refunds either when you lose the cash in your wallet.
3. Governments will do anything to give a bad name to bitcoin.
4. Again, the same is true with fiat.
5. At least the price of bitcoin can go up, while with fiat your wealth only goes down.

Only insiders and the divine truly know the nature of FIAT.
FIAT is a business currency, in which those involved in the business always safeguard their secret recipe to prevent theft by others. A solid legal foundation and connections to the highest holders of power are necessary to successfully monopolize the currency market.
Bitcoin's transparency attempts to prove to society that honesty is the key to fairness. People are realizing that FIAT constantly experiences inflation, and Bitcoin should provide an alternative solution instead of its value being constantly eroded over time.

When we talk about investment we need to have a comprehensive idea that we shall be the one taking all the risk during the investment because we kindly decided to make the investment about our sole research. Those that invested in Bitcoin and other cryptocurrencies and made lose did so in there risk.

It is good for us to have idea about the project we shall be investing in before decided to buy and invest in that project. Sometimes we can do research about a project and the project still end in rug pull. This happens always but it's not intensional most time since things can go wrong anytime.

In contrary to your claims, the decentralized model of Bitcoin has made it even more secured for people to enjoy trading. When you transact with your Bitcoin, it doesn't have to undergo any central authority to get to the receiver, rather it's delivered peer-to-peer exchange. You literally own and control your own Bitcoin.

Secondly, with the deployment of the cryptographic techniques to protect transactions, Bitcoin is more secured than the fiat currency. As a recipient of a verified transaction, you're provided with private keys which is just like a password (to be simply put)  to be able to unlock the Bitcoins. Seed phrases amongst others are more security.

Thirdly, easy accessibility gives Bitcoin edge over the conventional currency. Unless the fiat currency that you have to visit the bank or ATM to either initiate some huge transactions or take some cash. Bitcoin is a digital currency right on your computer and mobile devices with limitless transactions.

And list continues.

The only thing that I think you forgot is that you can't hold it in your hand/ physical. But this is also a double edged sword. If you had to move your entire life savings what better way to move and flee to another country (think refugees or something).

Since knowing about bitcoin and using it, I have never blamed it for being negative or positive, the problem is how to use it to get results from it. Not only bitcoin but many other things are attached to people with different opinions, people who don't like to research themselves based only on information from and conclusions from others will live within those limits of information, nature I personally always want to make bitcoin good for everyone, but this life is very fair between bad and good. Therefore, people need to be more engaged in sharing information as well as their own experiences with many others and spreading more positive values.

Yep, I think it depends on our mindset towards Bitcoin. As long as we use it for good things, of course more positive things will be caused. As an example, Crypto currently has an impact on the government that gave rise to digital currencies. They try to imitate for transaction efficiency and keep up with the times.
Indeed, some countries refused, even the IMF feared that there would be damage to world finances due to Bitcoin. But in the development even many countries are starting to collect taxes from crypto. I have felt a positive impact with my economic situation which was helped by Bitcoin and crypto.

Those negatives that you shared has a solution. I will comment base on what I know (not expert here).

That's why we have many information in the internet right now right? No knowledge? It isn't applicable only to Bitcoin, but to everything. When you invest, you need knowledge right? Where can you get it? You can get it online, when you have a mentor, or if somebody will guide you. In everything that's related to investing, you really need knowledge in order for it to understand. I think there's nothing that you can understand without any knowledge into it. Just pure common sense.

Scam? Fraud? Did you compare how many scams, and fraud investment have used both Bitcoin, and fiat already? Give us some numbers that shows that it really is high because what I know is that fiat currency is the most common currency that's being used by scammers to scam people.

So you're saying that banks are refunding you if you lost your money? It's the same as with Bitcoin. You lose your fiat currency, you lost it forever. For Bitcoin, you lose your private keys, you lose it forever.

Privacy? Isn't it a bad thing? On what way?
Because what I know is that, it's never comfortable to share your private information to some random strangers out there. TBH, privacy has more benefits than disadvantages.

On the other hand, we have corrupt government officials slowly diminishing the value of your fiat currency thru massive printing for their own sake. Isn't it fraud as well?

Vitalities? You mean volatile right?
Why? Do you think the stock market is predictable? Is there any market out there that's predictable with regards to it's price a few years from now? I mean with 100% accuracy.

I kinda have the same thoughts as yours. Not sure if OP is even looking at fiat while mentioning these disadvantages/negatives as this is truly like applicable also to fiat.
Bitcoin not easily being understood by people? I am pretty sure I was curious as well on how banks work and it is not just something we call "storage of money".

I read someone mentioning here that withdrawing money from bank is non refundable as well. I am pretty sure that every digital payments has that non-refundable concept. It's forever recorded in the database. Fuck all those claiming to recover those lost funds though, lol.

You know I am kinda bothered that people think that Bitcoin itself is a scam. Why haven't people just banned fiat if they wanted to put a stop to all these scums. :D
I get it that Bitcoin is almost non traceable since address can only be the leads unless the address is being used in a custodial wallet, but I am pretty sure there are waaay more untraceable ways that people do to do such crimes using fiat.

I think bitcoin can change a person's negative impact and his unemployed life. Another person's digital currency, Bitcoin, helps create a special structure economically. But only those who have spiritual knowledge about Bitcoin invest in Bitcoin. There are many people who are not well educated about Bitcoin and are interested in investing without understanding. Later they fall into a huge risk so one should acquire good knowledge about Bitcoin before investing later. there are some ignorant people who have no spiritual knowledge about investment but come to invest and later try to invest by going to various scam apps. As a result, they lose the money they invest. so don't invest without learning about Bitcoin.