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[shoreno]

One can criticize Bitcoin as much as one wants, but any criticism can be answered with a fairly well-founded counter-criticism as shown in the OP.  

People tend to criticize what they don't believe or what they don't fully understand, or that doesn't meet their standards. Since Bitcoin was created and since it started gaining its momentum, Bitcoin had been criticized, and guess what some or maybe most of the people who doubted and criticized crypto are now investors or even supporters of it. People are always scared of change, innovation, and what is new so they question it.

people loves to criticize what they believe is wrong but that mindset suddenly changed when they see that bitcoin is now starting to get popular . now many people throw away thier pride and finally joined bitcoin .government acceptance and other forms of marketing can really help spread awareness , if these things are only easy we can remove peoples doubts effortlessly and gather them on here . 

on the op's list , the number 1 and 2 are the most that being debated about  . its true that btc was too volatile but others people prove that they can still use btc for that purposes

[1715068491]

1715068491

[bitbunnny]

One can criticize Bitcoin as much as one wants, but any criticism can be answered with a fairly well-founded counter-criticism as shown in the OP. 

People tend to criticize what they don't believe or what they don't fully understand, or that doesn't meet their standards. Since Bitcoin was created and since it started gaining its momentum, Bitcoin had been criticized, and guess what some or maybe most of the people who doubted and criticized crypto are now investors or even supporters of it. People are always scared of change, innovation, and what is new so they question it.

people loves to criticize what they believe is wrong but that mindset suddenly changed when they see that bitcoin is now starting to get popular . now many people throw away thier pride and finally joined bitcoin .

government acceptance and other forms of marketing can really help spread awareness , if these things are only easy we can remove peoples doubts effortlessly and gather them on here .

I can agree with that. As long as Bitcoin isn't accepted on a formal level and supported by institutions people will not have confidence.
Although Bitcoin is present for a years now it's still unknown to big majority of people or they find it illegal, shady and not worth their time and money.
Education and awareness about cryptocurrencies might help but as long as Bitcoin is limited to groups of enthusiasts and it isn't formally regulated I don't expect for situation to change.

[davis196]

Bitcoin Cash tried to become the number one cryptocurrency, but suffered a crushing defeat.

Monero is a highly toxic cryptocurrency.

Ethereum is an experimental cryptocurrency, there is no certainty that these experiments will not lead to its death.

There is currently no alternative to Bitcoin.

What do you mean by Monero being a "toxic cryptocurrency"?I know that hackers and sellers on the darkweb are using monero,but that doesn't make it "toxic".Monero is just a tool,just like Bitcoin and fiat money.
I used to like the concepts behind Ethereum,but all the ICOs and DeFi projects make me think that ETH is a scammers paradise.Comparing Bitcoin to Ethereum is wrong,because Ethereum doesn't have limited supply and the price volatility is lower.
Bitcoin Cash was created only for the sake to make big profits for a bunch of people like Roger Ver,who tried to exploit Bitcoin,but they are kicked out so they decided to create their own Bitcoin.
No altcoin can be an alternative to Bitcoin.
I couldn't care less about all the criticisms regarding Bitcoin.All the FUDsters will slowly accept the fact,that Bitcoin cannot be stopped.

[Janation]

People tend to criticize what they don't believe or what they don't fully understand, or that doesn't meet their standards. Since Bitcoin was created and since it started gaining its momentum, Bitcoin had been criticized, and guess what some or maybe most of the people who doubted and criticized crypto are now investors or even supporters of it. People are always scared of change, innovation, and what is new so they question it.

That is them.

We can't stop people from criticizing Bitcoin or cryptocurrencies as a whole. One of the main reasons is that we could back number 5 criticism which says it is not backed with anything, if they could be more open to its possibilities it is the people and it is based on trust. It is not backed by anything then it is a scam, people should know that nothing can be created from nothing if it is not backed with anything, how could it be so huge right now.

[samputin]

4.Bitcoin is used for illicit activity.

This has been in the front of criticism of bitcoin by most people especially those in government which is one reason they give for not adopting bitcoin into their constitution a a means of payment just as fiat. This though has not stopped the use of bitcoin by large majority, the use of bitcoin has increased from it early stage.

That's right. We don't really have to go to the government because basically, even ordinary people thinks that way — bitcoin is a scam and is just an instrument for fraudulent activities.

That's primarily what comes to their minds even just hearing the word "bitcoin". Other criticisms come next when someone is finally in this field and uses it.

[Walterhank]

I myself have seen such criticisms, it should also include:

• Bitcoin Can Be Cloned
• Bitcoin is a Bubble
• Bitcoin Fails As a Currency
• Bitcoin Can't Scale

[MCobian]

It is very natural if there are some people who criticize Bitcoin, because we can't make everyone like Bitcoin. Only people who
hate Bitcoin are always looking for Bitcoin's weaknesses to criticize, rather than paying attention to the positives that Bitcoin
has given. Actually, the popular criticism mentioned in the opening post is not completely true, and there have been many articles
that provide good enough explanations for this. I think the point is that people always criticize Bitcoin not really believing in Bitcoin,
and not understanding Bitcoin.

[Charles-Tim]

I myself have seen such criticisms, it should also include:

• Bitcoin Can Be Cloned
• Bitcoin is a Bubble
• Bitcoin Fails As a Currency
• Bitcoin Can't Scale

Bitcoin is not a currency, although regarded as a cryptocurrency not currency. Currency is regarded as the physical form of what we can spend just like paper money, the instrinsic value of a currency is money. Money has instrinsic value while bitcoin do appreciate  All these makes bitcoin to be a cryptocurrency, money and asset but not currency. About bitcoin cloning, it will be a critism from the novice side because only 21 million can be in total circulation, not fake ones can be made. Bitcoin price do fluctuates but not a bubble but an asset because over a long time period, the price would hava net increase.

[Krislaw]

I've seen every criticism but who says bitcoin is wasteful? Like the sentence doesn't make sense. Bitcoin has helped so much in terms of making payments, especially on merchants. And I think it is the reason why it is being tagged as a currency for illicit activities. Fiat itself which has been being around for centuries has always been used for illegal deal. Why not tag the government or bank?

I myself have seen such criticisms, it should also include:

• Bitcoin Can Be Cloned
• Bitcoin is a Bubble
• Bitcoin Fails As a Currency
• Bitcoin Can't Scale

Your criticism is almost same as what OP listed. Bitcoin can't be cloned for so many reasons like, Limited Supply, it can't be printed just like fiat, we all have access to it's blockchain.

[Zionatin]

What gets me is when people say bitcoin is backed by nothing. These people have no idea of how finances and money work at all. Money is supposed to be "backed up" by gold a worthless rock that looks pretty.
Only a very tiny percentage of the total money in circulation is backed by gold. It doesn't even have to be backed by gold or anything for that matter since it merely acts as a place holder of the debt.
That's why it says on notes that you owe the bearer of the note x amount of $$ as long as you possess that note you can trade in items worth the value it says. There never needs to be a single piece of gold.

[kawetsriyanto]

1. Bitcoin is too volatile to be a store of value.

I never think Bitcoin is a store of value. It is a place you invest your money. If someone only wants to keep their funds, they are better to save them on the banks. We use Bitcoin for investment, yes it has a big risk, but we also don't deny the potential bigger profits with the volatility. I have checked and learned many commodities or other places to invest funds, I never find another one that has a chance to earn profits as big as in Bitcoin / as fast as in Bitcoin. If we are talking about the risk, every investment has a risk, no place or nothing can guarantee you success.

3. Bitcoin is wasteful.
5. Bitcoin is not backed by anything.
6. Bitcoin will be replaced by a competitor.

These sound like a hater's saying. We don't need to argue with them because they are only mocking us. It just wastes our time because they won't accept any explanations/any answers.

[Twinkledoe]

It is very natural if there are some people who criticize Bitcoin, because we can't make everyone like Bitcoin. Only people who
hate Bitcoin are always looking for Bitcoin's weaknesses to criticize, rather than paying attention to the positives that Bitcoin
has given. Actually, the popular criticism mentioned in the opening post is not completely true, and there have been many articles
that provide good enough explanations for this. I think the point is that people always criticize Bitcoin not really believing in Bitcoin,
and not understanding Bitcoin.

And let us just sit tight and let others criticize bitcoin, because if we will be onion about things that people say towards bitcoin, then it may affect our approach in life. I can say, these people who are saying negative things towards bitcoin are ignorant to the reality of what crypto may bring to their lives. And they are saying things where they have no single clue about.

[witcher_sense]

Use banks to keep your money there. And what will it give you? With such inflation, at a time when banks are printing unsecured candy wrappers without stopping, you will not save anything, but rather lose. Many investors and companies understand this, and having become disillusioned with the traditional monetary system, they transfer assets to Bitcoin.

I also use Bitcoin as a store of value, because it is a deflationary asset, it has an inelastic supply, therefore, in the long-term perspective, unlike fiat money, it will only grow in price.

Therefore, keeping your money in the bank to save its value is the wrong way. You won't save anything.

You are right, but let us not confuse the central banking system and regular banks. Regular banks can be thought of as secure warehouses that offer useful services, offer secure vaults for people's money, give loans to those in need, pay interest on deposits, etc. The thing is banks are a business, like any other, they somehow need to earn money to feed their families and pay their bills. The problem is not that banks are evil, but our monetary system, which is based on debt, unstoppable printing, money counterfeiting, is evil. Banks are making use of that system to acquire profit, nothing else. If we switch to hard money like bitcoin, they will need to find another way to make a profit. They will find it, trust me. Most people don't like being responsible for their own money, they don't like private keys thingy and self-custody solutions. They will bring their money to banks, banks that will offer secure vaults for bitcoins. Banks will continue to offer services because people will need them even under bitcoin standard. Bitcoin has never meant to replace banks, but it will change the mindset of many people, it will change the way banking makes a profit.

[Karartma1]

You could have simply shared something on fractional reserve and what that implies for regular people and their bank accounts.

[Latviand]

Criticism #1: Bitcoin is too volatile to be a store of value.

Response: Bitcoin’s volatility is a trade-off it makes for perfect supply inelasticity and an intervention-free market. However, with greater adoption of bitcoin and the development of derivatives and investment products, bitcoin’s volatility may continue to decrease, as it has historically.

We can't deny that bitcoin is really volatile in the market and there are a lot of investors who are doubting bitcoin to be a safe haven.

Maybe sooner, that volatility will be lessen and become weak so that people will confidently make bitcoin as a long-term investment than gold.

We all know that gold is more safe compared to bitcoin as an asset for a long period of time although the profit in bitcoin is much higher during bull run in the market. Volatility is not really the main problem but patience and willingness to make it profitable.

[witcher_sense]

Then it is worth sharing some concepts here, perhaps some people think that they are one and the same.

The bank saves your money and the bank saves the value of your money - it's not the same thing, right? The fact that it is safer to keep your assets in a bank is possible. The bank acts as a guarantor of your assets. But, unfortunately, the bank does not guarantee that the value of your money is saved in the bank. Probably my previous post was more about this.

Keeping your money under the mattress is not going to save your money from inflation either. That saves your money from other kinds of seizures, though. Unfortunately, banks cannot save the value of our money. Nevertheless, paying interests on our deposits, they make at least our losses less severe. Many people (if not most) consider such a state of affairs normal and optimal. Why is bitcoin better than fiat? It gives you a choice. What I like about bitcoin is that it gives people an opportunity to decide how to manage their own money. The very design of bitcoin incentives you to keep your money under the mattress, and you will not suffer from inflation doing that! On the other hand, if you prefer banks to store your money for you, you are free to choose this option, and you will not suffer from inflation either! No matter what you will choose, bitcoin guarantees its properties will stay the same: no one can change bitcoin. Bitcoin makes everything better, more reliable, more trustworthy. Bitcoin will make the banking system better so that it will ultimately be possible for banks to keep the value of money you put in them.

[serjent05]

Criticism #2: Bitcoin has failed as a means of payment.

Response: Bitcoin makes deliberate trade-offs, such as limited and expensive capacity, to offer core properties such as decentralization and immutability. Given its high settlement assurances, Bitcoin optimizes its limited capacity for settling transactions that aren’t well served by traditional rails.

Bitcoin is mobile, fungible and well divisible. The article provides a good example of using Bitcoin as a global inter-enterprise settlement and thus helps to do business in border areas. Also, Bitcoin is good in those countries where there is a struggle with high inflation and there are capital controls.

I do agree that Bitcoin is both mobile, fungible, and divisible and is fit to be a mode of payment but the high transaction fee make it too luxurious to use to pay microtransactions.  It is indeed a good way to pay a huge amount but failed when it comes to paying or moving a small amount from one wallet to another.  You can see how many small-time Bitcoin users complain about the high fee when the network is congested.  This alone prevents Bitcoin to be used as major means of payment.  Maybe in due time, we will see improvement but for now, I agree with the critics on this part.

[witcher_sense]

That's right, Bitcoin allows you to manage your funds as you please. Complete freedom of action. And I absolutely do not understand why some people carry their bitcoins to the bank or other custodial services for storing crypto assets. What for? Apparently they want someone to think for them, they are afraid to take everything into their own hands? I don't understand this. Cryptocurrency tried to move away from centralization and everything is trying to turn to centralization again.

Bitcoin is great because it doesn't need third parties, but some people still don't get it. I am surprised when I see the joyful reaction of people to the next news that another bank or service accepts bitcoins for storage.

One of the most popular criticisms of bitcoin is that it is too complex, it is too technical, it requires knowledge of many scientific disciplines, coding skills. Not only is it hard to understand the nature of bitcoin, the way it works, the reasons it works, and why it was created in the first place, but also it is very hard to master skills of correct storing of bitcoin, transacting in bitcoin, master coin control skills and privacy-preserving skills. This is an example of criticism that sounds reasonable, it is almost impossible to argue against it, and also it may well explain why most people are still afraid of self-custody, why they still prefer to rely on third-parties. People more often than not don't value things they don't fully understand. The lack of understanding results in relying on others, it is natural. Bankers and custodians, however, do not understand bitcoin either.

[menoiazei]

Only CBDC can compete with Bitcoin.  However, CBDC is not a cryptocurrency or deflationary asset. 

A certain hope was in the cryptocurrencies of IT corporations - Libra and TON.  Their competitive advantage is their huge audience.  However, governments are very jealous of currencies like Libra and TON.  They hinder their development in every possible way. 

Bitcoin Cash tried to become the number one cryptocurrency, but suffered a crushing defeat. 

Monero is a highly toxic cryptocurrency. 

Ethereum is an experimental cryptocurrency, there is no certainty that these experiments will not lead to its death.

There is currently no alternative to Bitcoin.  I have doubts that such alternatives will appear in the future.

 What is CBDC?

Why do you consider Monero toxic??

[Alucard1]

Yeah, there are many criticisms that we can see talking about bitcoin, even though it is in general criticism they only make it specifically for bitcoin which makes them look like a FUD. All those criticisms can be answered as what we can see in some other comments. I just wondered why still some people keep on saying that bitcoin is used for some bad or illegal things wherein it can also happen in fiat and mostly happen on fiat compared to bitcoin.