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worldofcoins
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February 24, 2021, 07:41:49 AM
 #61

Ethereum is the second-best cryptographic money and contender of bitcoins however too much least expensive than bitcoins.
The cost of Ethereum isn't equivalent to the bitcoin cost at that point how individuals can say it will be supplanted with his rival.
It's been 11 years and bitcoin is still surviving there's no replacement for bitcoin so we should skip this point from the list.

+_-
bakasabo
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February 24, 2021, 09:11:55 AM
 #62

Most popular criticisms I've heard is that Bitcoin was created by or for terrorists, or widely used by them or people for shady deal. Due to it being completely anonymous and untraceable. I doubt that it is fully untraceable, because despite you dont know address owner, but you can still follow all his outputs and inputs and maybe, if you are lucky, you might connect one address owner to a real person. But in general, I think that cryptocurrency is used only in a smallest part of all shady deal, as cash money are more easy to use and more popular in such areas.

 
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mezzaluna
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February 24, 2021, 09:50:28 AM
 #63



Quote
Criticism #3: Bitcoin is wasteful.

Response: A substantial portion of bitcoin mining is powered by renewable energy or energy that would otherwise be wasted. Additionally the energy the Bitcoin network does consume is a valid and important use of resources.

This article provides an example of using resources with limited utility, such as stranded gas, to mine bitcoin. Many enterprises, due to economic impracticality or impossibility of transportation, emit it into the atmosphere or burn it in flares.


This criticism can only be true when the one who is doing the mining is not creating an efficient system. An efficient system can be created for both the benefit of the user and the environment because there are already a lot of people or companies that created a good situation in which both sides benefit from Bitcoin. Bitcoin is not that wasteful but it would become that way because some people only likes to gain money and that is where a regulation must come. People wanting to mine Bitcoin must comply to at least specific requirements so that the mining equipment would work efficiently and not damage the environment in some way.

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Dancing_Coin
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February 24, 2021, 09:52:33 AM
 #64

The big question here is, will any of the new coins be able to kick bitcoin from its cryptocurrency throne? Most experts agree that it’s not likely in the nearest future. Bitcoin remains the most freely converted coin of all and its finite pool will probably continue making it more sought. Time will tell which coin will ultimately claim the win, but for now, bitcoin remains firmly ahead.

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pinggoki
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February 24, 2021, 10:26:22 AM
 #65

The big question here is, will any of the new coins be able to kick bitcoin from its cryptocurrency throne? Most experts agree that it’s not likely in the nearest future. Bitcoin remains the most freely converted coin of all and its finite pool will probably continue making it more sought. Time will tell which coin will ultimately claim the win, but for now, bitcoin remains firmly ahead.
There's no new coins that will be able to kick the king Bitcoin. Bitcoin is the biggest among the cryptocurrencies. There are some coins just like ethereum who is kind of big also but I believe there's no one will be able to kick the all time king although it takes years.
There are so many people who is criticising bitcoin and it is because of it's heavy volatility that anytime it may dumps and lose your money but still many people are trying to risk their own money just to hit some jackpots, just look right now the bitcoin price is over $50,000 and I am pretty sure that a lot of lucky people has hit this.

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bounceback
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February 24, 2021, 01:16:53 PM
 #66

The big question here is, will any of the new coins be able to kick bitcoin from its cryptocurrency throne? Most experts agree that it’s not likely in the nearest future. Bitcoin remains the most freely converted coin of all and its finite pool will probably continue making it more sought. Time will tell which coin will ultimately claim the win, but for now, bitcoin remains firmly ahead.
There's no new coins that will be able to kick the king Bitcoin. Bitcoin is the biggest among the cryptocurrencies. There are some coins just like ethereum who is kind of big also but I believe there's no one will be able to kick the all time king although it takes years.
There are so many people who is criticising bitcoin and it is because of it's heavy volatility that anytime it may dumps and lose your money but still many people are trying to risk their own money just to hit some jackpots, just look right now the bitcoin price is over $50,000 and I am pretty sure that a lot of lucky people has hit this.
Bitcoin keep the best and king for all altcoin exactly when bitcoin have higher price many altcoin keep allow to higher but when bitcoin down altcoin should be down. Now waiting what bigger news how to make bitcoin keep stable price and we can see chance with altcoin keep popular and always have higher price, maybe two year later many investor believe with bitcoin is the best way have to try investing.

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Vishnu.Reang
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February 24, 2021, 01:20:05 PM
 #67

Most popular criticisms I've heard is that Bitcoin was created by or for terrorists, or widely used by them or people for shady deal. Due to it being completely anonymous and untraceable. I doubt that it is fully untraceable, because despite you dont know address owner, but you can still follow all his outputs and inputs and maybe, if you are lucky, you might connect one address owner to a real person. But in general, I think that cryptocurrency is used only in a smallest part of all shady deal, as cash money are more easy to use and more popular in such areas.

First of all Bitcoin is not anonymous. All the transactions are available in the Blockchain and it is not possible for the users to delete or modify the log entries in Blockchain. And regarding terrorist funding using Bitcoin, during the last 12 years (ever since Bitcoin was first mined), I have heard only two or three isolated incidents (and even these attempts were mostly unsuccessful). The truth is that terrorists don't prefer Bitcoin, due to the difficulty in converting it to fiat cash. Their preferred mode is physical cash.
Emmychris
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February 24, 2021, 04:56:12 PM
 #68

About the volatility of bitcoin I don't consider it being a problem because the fluctuations of prices in bitcoin is what makes it profitable to investors and traders, buying low and selling high, bitcoin is used as an asset for investment so it can't be stable, sometimes most people just criticize bitcoin ignorantly without knowing the deepest part of it.

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