pros and cons of bitcoin

[sapnu]

On the top of my head:

Pros

• No fears of bans and account locks
• Zero downtime
• Transact freely, and having true ownership of your funds
• More privacy compared to banks and other centralized services

Cons

• The concept is pretty hard to grasp for the masses
• Currently not as user friendly as tradfi platforms
• People need to learn about security
• Currently still volatile (as expected)

EDIT: thanks for the 2000th merit, pooya87! 🥳🎉

As much as we want to benefit from the pros and avoid downfall due to the cons of bitcoin, the first thing we should do is learn as much as we can about it. As you get to learn different things about it, you will then know your advantages and quickly be aware of the things you should do to boost your investments. If you would be too lazy to learn about the process, even the pros would be a disadvantage to you as you make mistakes that will lead you to a failed investment. On the other hand, the cons can be converted into pros if you know much about bitcoin so start studying and strategizing first before considering figuring out the cons and pros of it.

[Synecdoche]

Pros

Protection From Payment Fraud   
Immediate Settlement, International Transactions.   
Diversification, Greater Liquidity   

Cons

Black market activity
Unregulated and unbacked, Cyber hacking
No refund

[UserU]

This can be a pro as well, that is why bitcoin is really good for investment, it makes us earn money from trading and investment, and for me, I considered this volatility as an advantage and not a disadvantage.

Imagine receiving your pay/ salary in Bitcoin when it's high and see it tank the next day.

[cl0wn]

It surprises me that people still say that governments has no effect on crypto with their policies.... lol how are you still saying this after latest dips? Of course they affect crypto! We also have a guy (Musk) who sometimes lack attention and tweets nonsense. Even this affects the market pretty hard. As much as I like Musk, the stuff he's been doing lately (specifically in crypto realm) is fucking sad!

[CryptopreneurBrainboss]

Haven gone through the replies by other members, I just want to point something out so the newbie reading don't get confused. All the pros highlighted above that has to do with privacy and total control of your finances can only be achieved if you own your Bitcoin.

By owning your Bitcoin I mean having it in a wallet you have total control of your private keys and not on exchanges. Sure one of the pros is no fear of you having your account banned but not when you have your funds on centralized exchange, they are more like the banks and of recent are even becoming more worse than them.

The industry is getting invaded by the government and the only way to stay anonymous and safe is been in control.