Bitcoin: "A Solution Looking for a Problem"

[Strongkored]

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

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.

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

[thejaytiesto]

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.

[yayayo]

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

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!

[vinaha]

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.

[useless4]

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

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..

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

[European Central Bank]

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.

[crairezx20]

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

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..

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

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..

[Kprawn]

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.  

[Carlton Banks]

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.

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.

[Supercrypt]

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.

[Haliburton]

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.

[zimmah]

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

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).

[Carlton Banks]

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

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

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)

Bitcoin will not solve inequality

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?

[chennan]

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.

[Sir Alpha_goy]

Bitcoin was an idea.

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

[chennan]

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

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).

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.

[The Sceptical Chymist]

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.

[chennan]

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.

[MyBTT]

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.

[The Sceptical Chymist]

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.

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.