What are your unfashionable Bitcoin opinions?

[davis196]

Everyone has a few. What are yours?

My main ones are - unit bias has held back BTC's progress in the mind of the public.

Bitcoin will never see widespread use as a currency.

95-99.5% of the world does not want to be their own bank. And a decent proportion who do want to be, should not be.

My unpopular opinions:
1.Bitcoin is only a bunch of code and the creation of that code (mining)wastes electricity.
2.The only incentive about using bitcoin is the possibility of a future price increase.
3.People will never fully adopt bitcoin,because they want to be slaves of the government protected banks.(it keeps their false sense of security)

[CryptopreneurBrainboss]

My unfashionable bitcoin opinion is that, Bitcoin will become boring as when it gets overpriced and crashing down [again] people will get tired of the whole bitcoin discussion as an investment option and move onto other new investment vehicles then bitcoin will now be used as more of a currency and I don't think bitcoin will survive as just a currency (although that was it's main purpose of creation). I don't fear any of these things happening anytime soon but I have a feeling it'll happen sometime in the far future.

[maldini]

My unfashionable bitcoin opinion is that, Bitcoin will become boring as when it gets overpriced and crashing down [again] people will get tired of the whole bitcoin discussion as an investment option and move onto other new investment vehicles then bitcoin will now be used as more of a currency and I don't think bitcoin will survive as just a currency (although that was it's main purpose of creation). I don't fear any of these things happening anytime soon but I have a feeling it'll happen sometime in the far future.

Yup, bitcoin will be a little boring when it reaches its saturation point and at that time bitcoin is already outdated. But I hope bitcoin isn't boring so fast, because it can still be enjoyed every reflection before the price is too expensive.

[Artemis3]

Everyone has a few. What are yours?

My main ones are - unit bias has held back BTC's progress in the mind of the public.

Bitcoin will never see widespread use as a currency.

95-99.5% of the world does not want to be their own bank. And a decent proportion who do want to be, should not be.

Well you CAN trust your money to others. You are not forced to keep your own money. In fact this is how a full reserve bank works, you are willing to pay somebody else to keep the money safe for you, since you don't want or can't trust to do it yourself.

This is actually not a problem for Bitcoin as a currency, it is your own choice where to keep it. I mean, with fiat you can also keep it all under your bed (and its probably safer than your fractional reserve bank), but many people consider it too risky.

An online wallet or exchange is more or less like this. Say, you don't want to risk keeping it yourself, you could trust Binance to keep them for you. Since they have already survived theft they could be building credibility and the market will respond.


From an user perspective i think the issue with transactions could be a problem. While there are some offchain solutions, they have still to catch on. I think wallets should support LN and Litecoin payments. Why LTC? Because you could use their blockchain. Its possible to exchange both coins directly without intermediaries, thanks to both having Segwit. I think this could also be done with some other altcoins and offload the Bitcoin blockchain if no further changes are to be done to it.

As for the units, people really made this unnecessarily complex. The absolute minimum is the satoshi, people should stick to that, and bitcoin. We don't need mBTC and the other nonsense, just express things in bitcoin OR satoshis and be done with it. Yeah i know, You need 100 000 000 satoshis for 1 bitcoin. You think thats difficult? In my country, you need 45 000 000 for one bitcoin.

[acroman08]

Too volatile to be considered as an alternate payment for fiat. business owners are uncertain if they'd make profit if they accept bitcoin as an alternate payment for fiat(I know there are stores who accept bitcoin but majority of business owners are scared they might lose money to it.)

Anonymity, as much as I love being anonymous while transacting it is also one of the reason why media are badmouthing bitcoin.

Might lose all it's value in a day which one of the reason why people are hesitant to use it.

[Mpamaegbu]

Mine are this simple -

One - Bitcoin won't get mass adoption because of the widespread global illiteracy level.
Two - Bitcoin's volatility will continue to scare away investors.
Three - Continuous split will continue to damage the reputation of the coin.
Four - Rogue Miners will continue to be the  bane of Bitcoin.

[Mike Mayor]

Everyone has a few. What are yours?

My main ones are - unit bias has held back BTC's progress in the mind of the public.

Bitcoin will never see widespread use as a currency.

95-99.5% of the world does not want to be their own bank. And a decent proportion who do want to be, should not be.

"Bitcoin will never see widespread use as a currency. " seriously you have been on the forums for how long??? This isn't even an opinion its a fact that bitcoin is being used and is widespread.

"95-99.5% of the world does not want to be their own bank. And a decent proportion who do want to be, should not be." so you hav spoken to 95-99.5% of the world have you? You know what people want more then they do? Tells us more.

Everyone has a few. What are yours?
My main ones are - unit bias has held back BTC's progress in the mind of the public.
Bitcoin will never see widespread use as a currency.
95-99.5% of the world does not want to be their own bank. And a decent proportion who do want to be, should not be.

My unfashionable opinions about bitcoins are:
1. It can not be used as a replacement of regular fiat currency due to high fee and network load. There are other crypto currency that can do this job better.
2. Better to use it as a store of value than a regular currency
3. No matter how much we deny, it actually helps criminal to stay under the radar.

"No matter how much we deny, it actually helps criminal to stay under the radar." same can be said amount social media and phedophiles. Hell lets just blame the internet entirely while we at it. No matter how much how you deny it the internet/guns and many other things help criminals.

"2. Better to use it as a store of value than a regular currency" look up the word currency.

Everyone has a few. What are yours?

My main ones are - unit bias has held back BTC's progress in the mind of the public.

Bitcoin will never see widespread use as a currency.

95-99.5% of the world does not want to be their own bank. And a decent proportion who do want to be, should not be.

My unpopular opinions:
1.Bitcoin is only a bunch of code and the creation of that code (mining)wastes electricity.
2.The only incentive about using bitcoin is the possibility of a future price increase.
3.People will never fully adopt bitcoin,because they want to be slaves of the government protected banks.(it keeps their false sense of security)

Banks also have a server that runs all day long to handle their transactions. Saying bitcoin mining wastes electricity is like saying a lock on your door wastes money.

[FriendlyIntellect]

Well I would say that the currency is old but gold! It is free from traditional systems and allow you to have freedom over your assets.

[gentlemand]

"Bitcoin will never see widespread use as a currency. " seriously you have been on the forums for how long??? This isn't even an opinion its a fact that bitcoin is being used and is widespread.

"95-99.5% of the world does not want to be their own bank. And a decent proportion who do want to be, should not be." so you hav spoken to 95-99.5% of the world have you? You know what people want more then they do? Tells us more.

Merchant adoption peaked in 2014 and has been contracting ever since. People want to hoard it. They don't want to spend something that may be worth more tomorrow. That's human nature and it's not changing.

If Bitcoin becomes enormous then it will become established as truly deflationary eventually and its fate as a non currency is sealed. It would literally be the last thing you would ever want to spend. You might spunk some free profit. Other than that you're going to get rid of the fiat you have and try to hang on to that.

As for your second moan, I have explored almost every human mind on the planet and can reassure you that that is the case without a shadow of a doubt.

Case closed.

[figmentofmyass]

Segwit is the only way to actually get us to somewhat scale. Never say never of course, but with how distributed the nodes are, and the lacking will to even tempt a large enough percentage of the node operators to upgrade to the latest versions, how do you expect the 'legacy block space' to reach that 4MB mark? We're stuk at 1MB and we might stay stuck at 1MB for much longer.

the more time that goes by, the more difficult it's gonna be to ever agree on a hard fork block size increase. i'm beginning to think it'll be impossible. we might be able to implement another soft fork to allow more witness space outside of legacy blocks, but increasing legacy block space beyond 1MB is gonna be tricky as hell. at this point, i'm pretty sure it'll cause a schism and permanent blockchain split.

and tbh, i lean towards the small blockers' side. most of the fixed bitcoin supply has already been mined. with the next halving, the subsidy is a small fraction of the initial block rewards. we're not seeing enough fee revenue generated to argue that fees are replacing the subsidy.....not even close. to threaten the economic viability of the system at this point by lessening fee pressure (increasing block size)? i dunno about that.