Why I Disliked Bitcoin

[Smartvirus]

One thing you failed to realise early @OP is the fact that, fiat is used in illegal acts as well. There are more than  a thousand ways to launder money without using bitcoin for a base currency. People launder money through luxuries cars a d washes and yet, no one by passes this if they could afford them cars and watches.

Better late than never!

I think the best thing that could happen to anyone with lost chances in the past is what has been summed up in this quote. Lots chances cannot be recovered hence, you start where you can and build your future from there. Lessons learnt now, you action what you've learned and am sure your buying bitcoin as it is.

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[Slow death]

Thanks to the present-day awareness, development and regulations that make it clear that Bitcoin is not as porous as I thought. 95% of my only transactions are now crypto-based.

before bitcoin existed, crimes already existed and criminals used and continue to use Fiat, if you look you will see that criminals prefer to continue with Fiat and you also use fiat every day in your country or you also stopped using fiat in your country Why do criminals in your country use fiat to commit crimes? I'm not judging you, my point is that many people when they look at bitcoin they soon rush to make harsh judgments but forget that gold and fiat and other assets are used in the criminal world and people don't stop using it every day even knowing this important fact

And another bad thing is with Forex, you can over leverage that will cause liquidation of your capital.

i see so many people lying that they make money on forex i wonder how many people actually make money on forex

[Uang_kartal]

it's not too late bro, if the outline is that you invest in other instruments such as forex. also not wrong because there are also payments and withdrawals with complete currency. You focus on what you believe in, that's good.
quite a journey to get to know bitcoin yes,with a few years.
I think you are already solid in using almost the totality of bitcoin. You are right that bitcoin is an interesting currency, with its function of receiving and sending, it can also change the value in it. I think you already know the risks of crypto money including bitcoin. keep going, so am i

[darkangel11]

I was adamant that I wouldn't because I believed Bitcoin aids legalities like trafficking, money laundering, terrorism, activities of drug barons, and many more. I forgot to think that as it has its advantages, it also has its disadvantages, no system works perfectly.

You also forgot to think that fiat currencies especially the US dollar has been used to aid human trafficking, money laundering, terrorism, drug trafficking, corruption etc for decades and decades but nobody bats an eye. If you want proof, it's staring at you. All you have to do is make use of your search engine. Bitcoin has been victimized because Governments are afraid they will lose grip from people.

It's amazing that people criticize bitcoin for being used for criminal activity, when it's been proven many times that those transactions are maybe 1% of total transactions. Everything is and will be used for illegal stuff. Phones are, computers are, the Internet is, fiat money is... People are doing illegal deals on facebook and twitter and I don't see anybody shutting them down. Using bitcoin is really bad for illegal stuff because it leaves a permanent trace. Altcoins like Monero are doing a much better job hiding your footprints.

[tomos81]

yes it should Most of the people who used Bitcoin were rich were people That's why now its magnitude has spread all over the world on a huge scale which is now everyone using fiat. However, Bitcoin is playing a role as the most popular coin in the world of crypto-currencies. But Bitcoin is at the top of the discussion in the crypto currency world

[Oceat]

I think it's just the same as the physical money we are using and it's not the fault of the money though it's just that bad people are using it and it has nothing to do whether we should use money or Bitcoin. But anyway, you did your part to research what is Bitcoin and it's important because of the misleading information spreading everywhere that we thought at first was the real one but the more you deep dive into the topic the more you will realize that there's a bit of misinformation to almost everything you knew.

[usekevin]

I've known Bitcoin since 2012 but started using it in 2019, though it was still for payments (funding and withdrawal) of online Forex trading, nothing more because I was careful to deal with something that might aid illegality. I later discovered that I was naive at that time, the latest development/revolution in Bitcoin made me ever feel bad and I had lost a lot of opportunities in the past to this.

The lesson learned was that it is better to move closer to what is new to us than to be condemning it from afar. Can you imagine that despite having enough money to invest in the cryptocurrency between 2019 -2021, I was adamant that I wouldn't because I believed Bitcoin aids legalities like trafficking, money laundering, terrorism, activities of drug barons, and many more. I forgot to think that as it has its advantages, it also has its disadvantages, no system works perfectly.

Thanks to the present-day awareness, development and regulations that make it clear that Bitcoin is not as porous as I thought. 95% of my only transactions are now crypto-based.


I love to read your stories about Bitcoin adoption too!

Bitcoin had both advantages and disadvantage as compared to other cryptocurrency.The first and foremost advantage is it can be traded,investment,the mode of payment for the work or task.The disadvantage is like of using in illegal activities,but it doesn’t had any use on this.Because everything used for money laundering the dollars,Euro and now bitcoin.So it will not be the valid point.

[Hamphser]

Better late than never!

A lot of people are still pushing the "bad guys use bitcoin hurr durr" narrative not even taking into account that literally any tool out there can be used for both good and bad; and even forgetting that the very currency they're using everyday is being used for malicious purposes as well.

Not surprising and to those people who do easily get fooled with these kind of claims or negative insights and words from other no coiner people then for sure they would really be ending up on hating bitcoin.

Talking about increasing money laundering and other criminal acts is something a usual alibi for them to throw into bitcoin and telling that it isnt really that good to deal off with.

For those who disliked then let them be because main supporters does really see the relevance of its existence not only talking about money making opportunity but also
into its actual utility which is really something that some people do prefer and we do indeed hate full centralization.

[bestcoins1]

it's not too late bro, if the outline is that you invest in other instruments such as forex. also not wrong because there are also payments and withdrawals with complete currency. You focus on what you believe in, that's good.
quite a journey to get to know bitcoin yes,with a few years.
I think you are already solid in using almost the totality of bitcoin. You are right that bitcoin is an interesting currency, with its function of receiving and sending, it can also change the value in it. I think you already know the risks of crypto money including bitcoin. keep going, so am i

When someone is familiar with Bitcoin and its risks thoroughly, then he will also know some altcoins indirectly because crypto currency competition is always visible in the market even though focusing on Bitcoin is the main thing that must be applied by him. Because once a person has started investing in Bitcoin and is making a profit, he will also look at other coins to invest in when the opportunity allows.

[killerfrost]

I've known Bitcoin since 2012 but started using it in 2019, though it was still for payments (funding and withdrawal) of online Forex trading, nothing more because I was careful to deal with something that might aid illegality. I later discovered that I was naive at that time, the latest development/revolution in Bitcoin made me ever feel bad and I had lost a lot of opportunities in the past to this.

The lesson learned was that it is better to move closer to what is new to us than to be condemning it from afar. Can you imagine that despite having enough money to invest in the cryptocurrency between 2019 -2021, I was adamant that I wouldn't because I believed Bitcoin aids legalities like trafficking, money laundering, terrorism, activities of drug barons, and many more. I forgot to think that as it has its advantages, it also has its disadvantages, no system works perfectly.

Thanks to the present-day awareness, development and regulations that make it clear that Bitcoin is not as porous as I thought. 95% of my only transactions are now crypto-based.


I love to read your stories about Bitcoin adoption too!

The contradiction from within makes you miss that opportunity. Many others always feel more profitable and safe to buy it. And you are afraid to buy it. Past mistakes are a lesson for us to try harder by correcting not to look at someone's problems and think they are ours too. The reality of BTC today is always full of both positive and negative issues, but over a long period of time I've seen many people complaining about it, or maybe they just gave up until it surged so they couldn't keep up.

[Zlantann]

My own story was that I disliked Bitcoin because I perceived it like other shitcoins. This is because these shitcoins flooded the crypto space of my country at that time.People introduced me to different shitcoin investment but they turned out to be either a scam or ponzi scheme. Due to these experiences I was discouraged do deal with any digital currency. But when I began to read and gather information about Bitcoin I understood why others are called alternate coins. Since then I have been a disciple and a die hard advocate of Bitcoin.

[Smack That Ace]

~

And another bad thing is with Forex, you can over leverage that will cause liquidation of your capital.

As long as he feels knowledgeable enough and capable enough to make a profit from forex trading then he can do it. Not everyone wants to hold bitcoin while they can make more money from trading. Besides investing in cryptocurrencies, I am also trading forex, although I am more focused on cryptocurrencies. This is a way of diversifying my portfolio, you can invest anywhere as long as you know what you are doing with it.

[Gyfts]

Stories like yours are pretty common IMO. Disinformation campaign and high regulations create the perception that Bitcoin is tainted or damaged materials, with some nefarious notion attached to its usage. I'm glad you were wise and saw past the propaganda, many aren't.

trafficking, money laundering, terrorism, activities of drug barons, and many more. I forgot to think that as it has its advantages, it also has its disadvantages, no system works perfectly.

And in fact, money laundering and terrorism are some of the most common excuses the government gives when outright banning or regulating Bitcoin. They pick these excuses meticulously. The average citizen doesn't understand complex issues surrounding financial fraud or national security, so the government likes to give a palatable excuse that people can get behind.

Of course, Bitcoin has little to do with money laundering or terrorism. Throw around those buzzwords though, and somehow people rally behind the cause no matter what it is.

"Ban bitcoin, it'll stop the terrorists!" Leaves me pondering.

[pooya87]

The lesson learned was that it is better to move closer to what is new to us than to be condemning it from afar. Can you imagine that despite having enough money to invest in the cryptocurrency between 2019 -2021, I was adamant that I wouldn't because I believed Bitcoin aids legalities like trafficking, money laundering, terrorism, activities of drug barons, and many more. I forgot to think that as it has its advantages, it also has its disadvantages, no system works perfectly.
95% of my only transactions are now crypto-based.

We have a expression that says "you came out of the (small) hole just to fall down into the well".
I just hope that when you use the term "crypto" you mean bitcoin and not altcoins because many of the altcoins are doing exactly what you feared bitcoin was doing. For example there are tokens that are created only to launder money and nothing else, there are altcoins that are created only to scam people and other projects that are made to fund an illegal activity such as terrorism.

You see there is a difference between a tool with a clear purpose like fiat and bitcoin that is also being used for a lot of legitimate things and only a small number of illegal activities and another tool that is created ONLY for illegal activities.

[Biscutard]

The lesson learned was that it is better to move closer to what is new to us than to be condemning it from afar. Can you imagine that despite having enough money to invest in the cryptocurrency between 2019 -2021, I was adamant that I wouldn't because I believed Bitcoin aids legalities like trafficking, money laundering, terrorism, activities of drug barons, and many more. I forgot to think that as it has its advantages, it also has its disadvantages, no system works perfectly.
95% of my only transactions are now crypto-based.

We have a expression that says "you came out of the (small) hole just to fall down into the well".
I just hope that when you use the term "crypto" you mean bitcoin and not altcoins because many of the altcoins are doing exactly what you feared bitcoin was doing. For example there are tokens that are created only to launder money and nothing else, there are altcoins that are created only to scam people and other projects that are made to fund an illegal activity such as terrorism.

You see there is a difference between a tool with a clear purpose like fiat and bitcoin that is also being used for a lot of legitimate things and only a small number of illegal activities and another tool that is created ONLY for illegal activities.

I couldn’t agree more, there’s always a dark side of every story that’s why bitcoin can’t be accepted totally by the government because of its capacity to create something. But as we can see our world is slowly accepting the gradual change of crypto world because of its convenience and rate of profit. But we can’t totally deny that it can also lead to great disappointment and falldown to a person. Many lives were devastated by these common projects and scam scheme. We should use this tool to have a capability to adopt of what’s new.

[_BlackStar]

Quick tip for the people who think they're "late": While of course you won't be making the same multipliers as someone who got in at as early as 2013, just a quick reminder that most people still actually think that bitcoin is a scam or a ponzi scheme.

True, but I'd rather ignore their arguments about bitcoin ^{[negative thinking]} and let them figure out the facts themselves sooner or later. There's no need to argue with such people because I don't think we can add more positive things to their knowledge of bitcoin but in the end bitcoin has proven that it's not a ponzi scheme or some kind of scam.

Ponzi schemes and fraudulent attempts are attempts by scammers to make a profit. They make bitcoin a attractor of people because bitcoin is a valuable asset, the scheme can also happen to fiat or other currencies but it would be wrong if they said bitcoin is a scam or a ponzi scheme. Misconceptions and hatred of bitcoin are two different things, so it might be good to ignore one of them.

[mindrust]

You don’t even have to invest in bitcoin or trade it to benefit from it. You can just collect payments and convert them to your local currency or buy whatever you want with them. Many freelancers and business owners do that.

All you need is a working bitcoin wallet. You can do this with your phone or computer.

If you want to invest that’s fine but you shouldn’t forget that it is a very volatile asset. Sometimes it backfires especially if you are going to need that money soon.

[Jawhead999]

-snip-.

We have a expression that says "you came out of the (small) hole just to fall down into the well".
I just hope that when you use the term "crypto" you mean bitcoin and not altcoins because many of the altcoins are doing exactly what you feared bitcoin was doing. For example there are tokens that are created only to launder money and nothing else, there are altcoins that are created only to scam people and other projects that are made to fund an illegal activity such as terrorism.

You see there is a difference between a tool with a clear purpose like fiat and bitcoin that is also being used for a lot of legitimate things and only a small number of illegal activities and another tool that is created ONLY for illegal activities.

I couldn’t agree more, there’s always a dark side of every story that’s why bitcoin can’t be accepted totally by the government because of its capacity to create something. But as we can see our world is slowly accepting the gradual change of crypto world because of its convenience and rate of profit. But we can’t totally deny that it can also lead to great disappointment and falldown to a person. Many lives were devastated by these common projects and scam scheme. We should use this tool to have a capability to adopt of what’s new.

You're confusing between Bitcoin and Shitcoin, don't mix it.

Those fraud and scam are commonly can be found on shitcoin, while Bitcoin isn't a fraud or scam project, it's just used by a criminal, similar like how fiat money used by criminal to laundering money.

Don't blame Bitcoin if someone become poor after invest all of his money on Bitcoin because the first rule before investing is know the risk and how you manage it if your investment doesn't like your expectation.

[Alisha-k]

Bitcoin thought me to always do enough research about new innovations other than sit back and criticise.  I used to be a big critics of bitcoin after falling for several Ponzi schemes which made me saw everything digital as Ponzi not until i was opportune i was introduced to the forum and along the line introduced to the forum which prompted me to have a look at the white paper that way i saw a technology that represents not just a p2p cash system but also a store of value and medium to been my own bank

[nullius]

Why I Disliked Bitcoin

I've known Bitcoin since 2012 [...] Can you imagine that despite having enough money to invest in the cryptocurrency between 2019 -2021, I was adamant that I wouldn't because [...stupid nonsense about how Bitcoin is oh so evil...]

What will be running in your mind if Bitcoin reaches $1000 again

However, in events that more backlashes and higher inflation negatively affect the crypto some more and finds itself at about $1000. What would be your reaction? Will you turn your back on Bitcoin or has your investment just begun on it?

My, you are suffering for your foolishness.

The Four Horsemen Cometh

I've known Bitcoin since 2012 but started using it in 2019, though it was still for payments (funding and withdrawal) of online Forex trading, nothing more because I was careful to deal with something that might aid illegality. [...]

[...] I believed Bitcoin aids legalities like trafficking, money laundering, terrorism, activities of drug barons, and many more. I forgot to think that as it has its advantages, it also has its disadvantages, no system works perfectly.

Thanks to the present-day awareness, development and regulations that make it clear that Bitcoin is not as porous as I thought. 95% of my only transactions are now crypto-based.

Please be advised that some of us who have technical expertise are working hard to make sure that wrongheaded little twerps like you can’t corrupt Bitcoin.  I am prepared to devote my life to the cause of making Bitcoin absolutely opaque and untraceable—and of keeping Bitcoin permissionless and decentralized.  And there is nothing that you can do to stop me.

Please be further advised that Bitcoin is not some pump-and-dump “crypto” Ponzi desperate for fools to buy into it.  Bitcoin does not need your money.  You hurt only yourself by your own choice not to buy BTC earlier; now, you are left quite transparently wishing that you could have another chance to buy at $1000 (the price at the start of 2017).

For my part, I would much rather you sell all your BTC right now.  If I could, I would ask the CEO of Bitcoin to ban you.  Of course, Bitcoin is permissionless—that means I can’t stop you from using it, any more than anyone can stop “terrorists” or “money launderers” from using it.

Bitcoin shall not change for you, for your agenda.  Come along for the ride, or get left behind—either way, that’s not my problem.

P.S.,

I believed Bitcoin aids legalities like trafficking, money laundering, terrorism,

At least, that is quotable.