every post here is talking how good btc is and how it is superior to other systems.
what are some disadvantages and weaknesses and bad effects bitcoin cause on this world and our society, financially/economically/socially/technically/environmentally/etc, that even the most die hard btc fanatic cannot deny?
I can't think of a single example, can you?
it is enabling criminals/terrorists/pedophiles/drug dealers/scammers/etc to acquire/manage/launder their blood-soaked money much easier and to continue their act, for one.
as for the thread, no one yet has the courage to admit to the truth that bitcoin causes harm as well as benefit.
everything has good side and bad side - bitcoin is no exception.
90%+ of the criminals/terrorists/pedophiles/drug dealers/scammers/etc are still using fiat.. to convert from fiat to BTC, it leaves trace.. all those criminals/terrorists/pedophiles/drug dealers/scammers/etc using BTC would be much more tracable than now, as they tend to use fiat/gold, wich is less efficient, but less tracable.. IMO, BTC is'nt a free ride for those criminals/terrorists/pedophiles/drug dealers/scammers/etc
Unfortunately , this is not the case for kidnappers and extortionist , and in case of bribery.
1) Kidnapping , most of them demand money (cash) , and thus they make themselves vulnerable while getting the amount and while holding the money (can be marked , can be traced).
With bitcoin they can ask for those money to be transferred online , and even if they are caught , how can you prove that somebody is the owner of the address?
It this case you have to admit it bitcoin simplifies a lot the ransom demands.
2) lets assume another FUD scenario
You came home late , a black car pulls over , some people take you to a deserted building , hit you a few times with a hammers over your fingers till they are turned to mincemeat and demand your private keys.
Even the sha1024 won't help you. And in this case they will get ALL your money. (this theory is for people dropping fiat money and using only bitcoin).
Now , you go to the police and....you have to prove that they took your money and that those addresses were yours , and the police will have to prove that the thief got your money.
With current systems , is a bit troublesome to get all the money somebody owns in a a few seconds , banks got limits , cards got limits etc. bitcoin doesn't have those
3) Bribery
As my country is leading the UE in this field..
A politician (i'm not saying a corrupt one , in my country all of them take bribes
) , will not have to ask for money , goods or anything traceable. When they talk about the bribery he will just have to drop a piece of paper with a bitcoin address. Now.... prove to me that he is the owner of it , and that he got the bribe.
Plus , in most of the cases , the money used in the undercover mission will be lost forever
))
And there are mixing services and there are localbitcoins , not even talking about the projects like darkwallet.
