I hate Cryptocurrency

[RodeoX]

Some of your criticisms are the reasons I use bitcoin. 

If bitcoin were regulated in any way, the regulators would have more power than the other users. That is an absolute non-starter for me. I would sell off my coins tomorrow if that happened. The beauty of bitcoin is that it can't be controlled by a bank, government, etc. It makes a consensus to change the protocol maddeningly dificult. Which is exactly what was designed.   

Your shock and horror at the naked greed in the BTC economy is just human behavior. Free markets are fair but brutal. They reflect the actions of myriad competing and self interested users. Free markets offer no protection, but opportunity that is unattainable in regulated markets.

As far as the problems you see with alt-coins, well... I tend to agree. Which is why I think alts are a foolish distraction. Just ignore them.

So what would regulation mean? Should I decide if you may use bitcoin? Should I chose how many you can (or must) buy/sell? Should I decide where you can use them, how many are produced, the price? What is it I should regulate and how are you going to pay me and do all this work?  And if not me, who should be the worldwide authority to create laws that every human on the Earth must obey to use BTC?

Me I like the wilderness. An uncaring, harsh environment that favors no one. 

[danherbias07]

Well, I like the blockchain technology... but I have some major problems with it.

Instead of being regulated and utilized so it's a useful technology it's just become a giant faux-economy.


Exchanges, news, prices, altcoins. It never seems to end. Every coin is just feeding into bitcoin for profit. It wouldn't be so bad if there were limited hours for trading but of course because of how the blockchain works it is a 24/7 economy.

Everyone is just trying to one-up the next person by manipulating numbers to their advantage. Sure, that's a lot like the stock market but at the end of the day cryptocurrencies never produce anything other than more coins. Companies produce products and services.

Most every coin uses underhanded trolling tactics like hype accounts, insider bribes, and worse. There's nothing redeemable about the vast majority of this space.

I know there will be mostly defenders of the stupidity but god-damn it is truly ridiculous.

I understand what you mean but still it is differenr with this.
It is easier for us. We are the owner and we are the manager. Regarding about companies that would produce products while you invested in it for profit if it is successful. There is risk there also. It is just almost the same. There might not be a product with bitcoin but think of it as a next currency if it is all ready or they accepted it. For now, better profit from it. Even with the other coins. Use it as a tool to make life easier.

[Reid]

That manipulation cannot be easily done with bitcoin.
Yes maybe with altcoins it can be done easily but the problem is bitcoin is so expensive to risk it.
I also love the decrntralized thing to avoid governments from getting a hold of it just for selfish reasons.
Here it is the people who are holding a coin can make the changes unlike stocks which could be controlled by media with the government side.

[Pearls Before Swine]

I have to laugh at op's argument here.   All markets under capitalism are like this, and I happen to like the 24-hours a day nature of the exchanges.  But if you don't like it,  you're free to leave.   My guess is that you'll stay if you've been bitten by the crypto bug though.   It's very similar to the stock market,  but this is all new and people are exhibiting wild west behavior.   That makes it pretty damn fun, but thatt just me.

[cybersofts]

Well, I like the blockchain technology... but I have some major problems with it.

Instead of being regulated and utilized so it's a useful technology it's just become a giant faux-economy.


Exchanges, news, prices, altcoins. It never seems to end. Every coin is just feeding into bitcoin for profit. It wouldn't be so bad if there were limited hours for trading but of course because of how the blockchain works it is a 24/7 economy.

Everyone is just trying to one-up the next person by manipulating numbers to their advantage. Sure, that's a lot like the stock market but at the end of the day cryptocurrencies never produce anything other than more coins. Companies produce products and services.

Most every coin uses underhanded trolling tactics like hype accounts, insider bribes, and worse. There's nothing redeemable about the vast majority of this space.

I know there will be mostly defenders of the stupidity but god-damn it is truly ridiculous.

I see no reason to say you hate cryptocurrency because everything good has competition next to it!

And cryptocurrencies has more advantages than disadvantages. If you are always looking for darker side of a new technology that's all you gonna get!

Everything in this world has advantage and disadvantage. so now is up to you to choose to live with the modern technology or you can go back to "STONE AGE" and live your life... The choice is up to you!

[Instamined]

I have to laugh at op's argument here.   All markets under capitalism are like this, and I happen to like the 24-hours a day nature of the exchanges.  But if you don't like it,  you're free to leave.   My guess is that you'll stay if you've been bitten by the crypto bug though.   It's very similar to the stock market,  but this is all new and people are exhibiting wild west behavior.   That makes it pretty damn fun, but thatt just me.

Hey now, let's not get too drastic.  

I almost went off on a sch peel about it being like the wild west earlier.

All markets are definitely not like THIS. Hectic, full of conflict, yeah: sure.

Hidden instamines, hacks, changes to the fundamentals of stocks... well it's not unprecedented but it isn't as normative as it is over here.



To all the people saying bitcoin is unregulated: yes the core wallet is unregulated excluding the bitcoin foundation. Sure. But in order to do most btc trading you rely on a 3rd party exchange which pretty well all require proof of identification and KYC compliance these days. It's not entirely unregulated. Also, why couldn't limited regulation be a positive? You know, so people can't lie about their holdings or run away with coins without repercussions?


Hate is a much catchier title. How about "I'm disappointed in Cryptocurrency's Wasted Potential"

[xvids]

I don't get it you are also using it and yet you are telling us that you hate cryptocurrency???

[Pab]

You can trade on Poloniex thay have stop loss tool,easy to use,hundreds of atls it is just virtual trash,modern economy is creating a lot of trash btc economy is the same,i simply dont care of them

[Chikito]

reason you hate cryptocurrency is digress, how someone hates something but still using the stuff ?, Perhaps OP a bit annoyed with some of those who monopolize the market cryptocurrency. actually, when using bitcoin and cryptocurrency to smart use , whether cryptocurrency to invest, or fast transactions with cryptocurrency ? .

[BitDane]

I don't get it you are also using it and yet you are telling us that you hate cryptocurrency???

Well he stated the reason why he hated it, he first need to learn how to use it know the all arounds of it before hating it.  You cannot hate something you do not know.  You maybe not like what you do not know but definitely will not hate it until you know you will hate it.   Though those reason why he hate is is the reason why I am into cryptocurrency.

[xuan87]

well it is a free world and everyone is free to create a new coin, no matter what is their reason, and I understand that you are disappointed in alt coin because there are so many coins which is actually useless and never been heard, the coin developer just looking for chance to create some profit, by having alt coin actually it is helping bitcoin to growth because it can be used for trading, but we also need to see the other side of crypto currencies, it also giving a big help to a lot of people and making our transaction easier, so see from different point of view maybe you can see a better potential of crypto currencies

[European Central Bank]

what did the op expect? it's a free for all that can be created out of thin air in certain circumstances. of course it's gonna attract scum, get rich quick assholes and it'll be the subject of endless scams.

out of all this shit some very important things will eventually arise.

people here are too locked in to their personal time lines. this is the type of thing that takes decades to spread and most people here will be long gone by then. it doesn't matter what happens to any of us or any existing business. the idea will always be out there from now on until it's put into action for the benefit of many more people.

[darthmaul]

You are making statement which is realistic. But you have to accept few facts that life circle works around these kind of currencies, money, or product and services. What is the problem if people getting profited with this technology and leaving their life the way they want. I believe there is no bit of problem. Different type of coins are meant for different value for them just like pennies, dollars, pound etc. It should be their to remove the monopoly and also not everyone can invest in bitcoin after looking at its price. So people go for alternate coins which is good thing as they are ultimately engaging in the circle of relativity.

[CyberKuro]

Well, I like the blockchain technology... but I have some major problems with it.

Instead of being regulated and utilized so it's a useful technology it's just become a giant faux-economy.


Exchanges, news, prices, altcoins. It never seems to end. Every coin is just feeding into bitcoin for profit. It wouldn't be so bad if there were limited hours for trading but of course because of how the blockchain works it is a 24/7 economy.

Everyone is just trying to one-up the next person by manipulating numbers to their advantage. Sure, that's a lot like the stock market but at the end of the day cryptocurrencies never produce anything other than more coins. Companies produce products and services.

Most every coin uses underhanded trolling tactics like hype accounts, insider bribes, and worse. There's nothing redeemable about the vast majority of this space.

I know there will be mostly defenders of the stupidity but god-damn it is truly ridiculous.

I know what you mean, but that's the nature cycle of cryptocurrencies. Speculation and manipulation about a coins being created everyday in order to get more adopters and profits. Bitcoin as the first cryptocurrrency is the best/main of digital currency, so people want to trade their altcoins into bitcoin and vice versa, but in the end convert it back into bitcoin, this process always repeated.

Do you know what trading mean? Some people get profits while others get loss, yes, its about time matter. Who buy and sell their coins at the right time, they are get benefit and others don't. That maybe seems ridiculous for you, but people have to deal with it, known as risk.

[rajasumi3]

its new to see that some people is showing their concern about bitcoins and why they hate bitcoins.
i would never bitcoins because it is the mode of earning money for me and i would always love it.
it was through bitcoins that i have started earning money.

[MissGrey]

Humans sometimes are greedy and obviously behind those projects are money involved, but don't see just the monetary background the entirely ecosystem of the cryptocurrency is changing the world and making positives changes in the life of many people

[onrise]

No doubt the technology as a whole of Blockchain itself is nothing less than a miracle for the world beacuse of its unanimous advances of features it has. Now cyprocutrency as a currency it's being ruled out be few government by raising a question like if its currency then why it's not being governed by any body or institution ? How can any currency be evolved without government permission ?

[iv4n]

You hate people and their actions, cryptocurrencies are just product. Like any other product with this one can also be manipulated, how depends from many things, what is important that people are doing that with help from others and some tricks.
Don't hate something that you don't understand, I'm also annoyed by some things here, nothing is perfect.

[deisik]

Your shock and horror at the naked greed in the BTC economy is just human behavior. Free markets are fair but brutal. They reflect the actions of myriad competing and self interested users. Free markets offer no protection, but opportunity that is unattainable in regulated markets.

As far as the problems you see with alt-coins, well... I tend to agree. Which is why I think alts are a foolish distraction. Just ignore them

I agree both with you and OP on this point

Long-term investment is altcoins could be and in many if not most cases is close to suicidal. If you are in for quick profits and go for wool, get ready to come back shorn at the end of the day. Other than that, altcoins can be quite useful. For example, when Chinese exchange froze Bitcoin withdrawals some folks still managed to withdraw their funds via altcoins. The transaction fees of most altcoins are substantially lower as well as confirmation times are shorter so they can be helpful to transfer value instead of Bitcoin

Me I like the wilderness. An uncaring, harsh environment that favors no one

Only as long as you are the king of the jungle

[icet208]

A guy who hates crypto has a Btc address as a signature:)))
The hipocracy is real