Negative influence of bitcoin

[Obari]

Every good thing has side effects, I believed bitcoin ha play roles of changing lives and improving digital structural economy. But bitcoin also has negative damnation on lives by impoverishing people of their spare resource and income. Today I want point out some negative impact of bitcoin on societies such as:
1. Bitcoin is not easily understood by people with no knowledge of it, at such scam and fraud is high on them.
2. No refund to anyone who incurs loss through keys, seed phase or fraud.
3. Privacy- bad people trying to give bitcoin bad name by faking bitcoin apps and site.
4. Cyber hacking - cyber wizards an fraudsters makes people to loss bitcoin wallets and money.
5. Price vitalities - bitcoin price is unpredictable and nobody as monopoly of the market.

Well I don't see any difference  in the negative aspect of bitcoin  and that of fat because all you've mentioned also occurs with fiat and most times we shouldn't  be expecting  so much from bitcoin  but rather just see it simply see it as a digital  currency  which can also serve as a digital investment  and asset.

There is nothing wrong with the volatility  of bitcoin  because its the volatile  nature of bitcoin  that also makes it possible  for people to earn gain or loss and the profits people make are also paid from  the losses of others, and hence  we ought to stay at the top of the game always and stay very smart as well.

[uneng]

Every good thing has side effects, I believed bitcoin ha play roles of changing lives and improving digital structural economy. But bitcoin also has negative damnation on lives by impoverishing people of their spare resource and income.

That is why everyone who is interested in Bitcoin should learn the basics about security, how transactions work, how to manage a wallet, and of course about investment strategy which must be always focused on long term goals, since we can't predict Bitcoin price on short run precisely.

Since many investors want fast profit, they claim to have lost money with BTC. But that was actually their fault for not having held their coins for longer.

[Jody.Drummer]

Bitcoin has a negative? right because I never let go of them since a few years ago and it's really sticking
But in this case I think everyone's perspective is different and indeed things like this cannot be forced further. you say it's negative then it's back to your rights because there are indeed some reasons that you might think are strong about it, but on the other hand I do it my way and I like it because there are good things that I get especially with the finances I have have at the moment.
When looking at comparisons like this I'm still doing what I think is bringing change and bitcoin is bringing that to my life right now so that's enough for me.

[Zaguru12]

definitely one of the downside of crypto but this also solves the issue of bad actors trying to scam sellers or other parties after a successful transaction,  it's all about getting used to it.

I wouldn’t call this a down side of bitcoin because it is a general problem, you hardly have even banks or centralized exchanges returning funds after loss or hack or any scam. The fiat banks are even worse because they will certainly blame you for losing your funds after they are responsible for having your informations online. I would rather have my funds been held by me, if something happens I will have myself to blame rather than some centralized bodies.

[Josefjix]

Bitcoin has a negative? right because I never let go of them since a few years ago and it's really sticking
But in this case I think everyone's perspective is different and indeed things like this cannot be forced further. you say it's negative then it's back to your rights because there are indeed some reasons that you might think are strong about it, but on the other hand I do it my way and I like it because there are good things that I get especially with the finances I have have at the moment.
When looking at comparisons like this I'm still doing what I think is bringing change and bitcoin is bringing that to my life right now so that's enough for me.

I've had some horrific experiences trading Bitcoin, and some events in cryptocurrency are unforgettable, which makes me desire every day that I could move the hand of the clock in my favor. Now is the time to make up for the things I've missed in the past that are still bothering me today, not an easy tasks but with determination and consistency, it will be achieved. Bitcoin's existence in the ecosystem is a solid foundation that traders and investors rushing to profit without a solid base to back up their choice or line of action, Bitcoin has both positive and bad effects on traders. 

[Jet Cash]

How many people actually understand the fiat monetary system? I suspect more people understand Bitcoin, than understand the realities of Fiat currencies. Certainly Bitcoin is talked about far more. Fiat operations and creation is kept a secret as far as possible.

[kryptqnick]

If Bitcoin isn't easy to understand for some people, it isn't a bad influence. Crypto scams aren't that different from other scams, and you don't need to be a blockchain expert to avoid them. You can be very similarly a victim of a fiat-based scam if you send someone money and expect to get back twice the amount because it's a 'giveaway', if you enter your online banking info onto a phishing website and so on.
#2 is more specific to Bitcoin, but that's just a result of decentralization and financial freedom. With freedom comes responsibility. #4 isn't specific to Bitcoin (or cryptos) either. As for #3, criminals use fiat as well, so it shouldn't be counted as an argument against Bitcoin. And #5 is the price volatility, which is higher than with many fiat currencies, but it's also a result of decentralization and financial freedom.

[Nrcewker]

Everything has both impacts or influence. If one has to influence by anything, then he has the choice to look to which value of the coin. If he wants, he can easily get influenced by the positive factor, and if required one can easily get spoilt through the negative part. The features you have mentioned is only possible due to the advantages of Bitcoins. Bitcoins are free from any tax and the anonymity it provides is really unique. Many scammers use this to target the common mass and hence Bitcoins are looked with hatred.

[ringgo96]

actually it's not a negative influence but a risk of using bitcoin, so for me everyone who can really make a profit has its own risks, for example in trading we also have risks so it's not a negative thing and we really have to take care of all these points so we don't experience any loss in investing in bitcoin, and you need to know that we cannot get bitcoin easily, all need a process and a way to use bitcoin so that risky things are born as you explain.

[Z390]

Bitcoin is not that hard to understand, those who don't like Bitcoin or don't want to see Bitcoin succeed are those that makes Bitcoin looks hard, and they have nothing to say then call it a scam, the definition of Bitcoin is available on the internet and with the definition, it says everything about what Bitcoin does.

Every technology either big or small has its negative and positive sides, and the volatility side of Bitcoin is not entirely that bad like many are saying, Bitcoin price can't ever be attractive to me if the price is not going down, I will never have any Bitcoin right now if the dips opportunities are not on sale.

Bitcoin volatility fixed the balance of the endless desire for buyers and long-term holders, all at once.

[irhact]

Every good thing has side effects, I believed bitcoin ha play roles of changing lives and improving digital structural economy. But bitcoin also has negative damnation on lives by impoverishing people of their spare resource and income. Today I want point out some negative impact of bitcoin on societies such as:
5. Price vitalities - bitcoin price is unpredictable and nobody as monopoly of the market.

While you see this as a disadvantage, others see it as an advantage and are using it to make lots of money from trading or short term investment. Bitcoin isn't unpredictable as you can predict what will happened to the price of Bitcoin either by looking at the charts or its history. The prediction must not be accurate but it could be closed like predicting a range the price would be trading at.

We know that Bitcoin price usually pumps after the halving and you can use such information when investing or trading Bitcoin. The price of Bitcoin also crashes two years after having and you can use that information for your protection to avoid buying at the peak of the market.

[usekevin]

The coin had the two sides,So everything had their two sides of effects.The bitcoin had more positive impacts as compared to the negative.Bitcoin was easy to understand,even the people with less crypto knowledge can do the transaction by themselves.Because now we can easy to send bitcoin by copy paste of address and scan of bitcoin scan code.Being a mature person you should keep your seeds and private key very safe.It’s like the key to locker with huge money in it.Some bad people using bitcoin to scam,it’s not a scam of bitcoin.It’s scam of the person and not bitcoin.So get the clear view about cryptocurrency and bitcoin.

[DevilSlayer]

The volatility of the bitcoin can also be viewed as negative if people will start use it as the main payment method because the price is constantly changing where there will be gonna be some confusion but when it comes to traders or investors like us, it is good because the volatility help us to make profit through price appreciation. A lot of us are using it as an advantage to easily enter and exit in the market with gains. I saw some issue when it comes to view of the people to bitcoin because they see it as stable and my advide is do not ever see bitcoin as a coin with fix value because it is one of the asset that has crazy volatility especially when it the bear appears and the huge dumps starts to appear.

There is really disadvantages but we should not focus on it, better if we will see the advantages of it and its benefits rather focusing on its disadvantages. Remember that we have limited supply unlike the fiat especially the US dollars which have unlimited supply which makes it worthless very soon. The global order is starting to change, the US dollar is now losing its popularity in the whole world and for me it is also the time for a lot of people to consider the importance of the bitcoin because its value keep increasing over time.

[demonica]

Rather than a negative impact, I believe these are just some of the unfortunate things that could happen to someone if they were being careless. But since it doesn't happen to everyone who's into Bitcoin, I don't think we can consider it as a negative influence. It just depends on the person on how he manages his own Bitcoin, so if someone experienced one of the lists you've mentioned, it's not Bitcoin to be blamed but himself. Yes, hacking and scamming are rampant but it's the same with fiat. If you have money on you and someone stole or snatched it from you (which is also common), it's not considered as a negative influence of paper money but can rather be considered as an unfortunate thing that happened to you for not being aware of the surroundings or being careless.

[Dickiy]

But bitcoin also has negative damnation on lives by impoverishing people of their spare resource and income.

How does this happen? I don't agree that bitcoin impoverish people, no it doesn't except if you want to multiply your unit or fraction by trading it. If you make a decision to trade your coins then it is not the fault of bitcoin but the trader that refuse to hodl only. Example if you are hodling 0.005 in btc, it will remain that value after bear market and can increase if the bull season come but it is riskier to trade it because you can lose all of it. Hodling bitcoin is not negative but trading it can be negative if you lose. 

That's rather he cursed himself, the behavior you mentioned is the behavior of people who can lose money wherever they are, being in a trade will make the bitcoins they have disappear.
In bitcoin it will be profitable if we can hold it, its true nature is long term to get enough returns, not suitable for people who want to get rich quick but don't know the science.

Unfortunately the OP created FUD on his own bitcoin forum, we could explain a thousand deeper reasons to use bitcoin for financial freedom, a brave but stupid move since it seems like he mixed bitcoin with Altcoins as the source.

[teosanru]

Every good thing has side effects, I believed bitcoin ha play roles of changing lives and improving digital structural economy. But bitcoin also has negative damnation on lives by impoverishing people of their spare resource and income. Today I want point out some negative impact of bitcoin on societies such as:
1. Bitcoin is not easily understood by people with no knowledge of it, at such scam and fraud is high on them.
2. No refund to anyone who incurs loss through keys, seed phase or fraud.
3. Privacy- bad people trying to give bitcoin bad name by faking bitcoin apps and site.
4. Cyber hacking - cyber wizards an fraudsters makes people to loss bitcoin wallets and money.
5. Price vitalities - bitcoin price is unpredictable and nobody as monopoly of the market.

I think except last two points, rest are the ones because of which bitcoin actually sustains and is working today. It's because of it private nature and pseudononymous nature that you feel it's so good and is a better alternative over fiat. On the same side understanding is something that comes with time and eventually you'll see a lot of people understanding bitcoin, you'll be surprised to know that even a lot of people don't even understand fiat right now, so I think it's okay if people don't understand bitcoin as well.

[cydrix]

It is a truth that some people may lose money when trading in Bitcoin because they lack patience. This is due to the fact that there will always be buyers and sellers, meaning that some people may profit while others may lose. It's critical to remember that the frequent hand-to-hand movement of Bitcoin can increase its volatility. However, you might be more likely to make gains if you are a solid holder who doesn't indulge in frequent buying and selling. It's important to remember that frauds and scams exist in every sector of the economy, so they shouldn't be the only reason people have unfavorable perceptions of Bitcoin.

[Davidvictorson]

I will respond accordingly

1. Bitcoin is not easily understood by people with no knowledge of it, at such scam and fraud is high on them.

Scams and frauds has nothing to do with bitcoin. Even when using you regular bank app and internet there are scams and frauds lurking all over the web space, do you then go ahead to call your bank a scam and a fraud. Please separate the act from the product or project.

2. No refund to anyone who incurs loss through keys, seed phase or fraud.

If you pay attention to details and follow the conventional rules and regulations guiding the using of bitcoin or should I call it the code of conduct, then you will not run into any of these issues or be a victim.

3. Privacy- bad people trying to give bitcoin bad name by faking bitcoin apps and site.

There are phishing sites for credit card fraud and what have you. so, it is doesn't only happen in bitcoin. There are very bad and terrible people all over the internet seeking to reap where they did not sow.

5. Price vitalities - bitcoin price is unpredictable and nobody as monopoly of the market.

This is why they always say "Not financial advice" in addition your investment and interests in bitcoin should match you financial and personal goals to be able to withstand market volatility. 

[South Park]

Every good thing has side effects, I believed bitcoin ha play roles of changing lives and improving digital structural economy. But bitcoin also has negative damnation on lives by impoverishing people of their spare resource and income. Today I want point out some negative impact of bitcoin on societies such as:
1. Bitcoin is not easily understood by people with no knowledge of it, at such scam and fraud is high on them.
2. No refund to anyone who incurs loss through keys, seed phase or fraud.
3. Privacy- bad people trying to give bitcoin bad name by faking bitcoin apps and site.
4. Cyber hacking - cyber wizards an fraudsters makes people to loss bitcoin wallets and money.
5. Price vitalities - bitcoin price is unpredictable and nobody as monopoly of the market.

All of those points are either not exclusive to bitcoin or a misunderstanding on your part.

1. You do not really need to now how your car works in order to drive it, as long as people read a few articles they will learn how to secure their coins properly in minutes, also the number of scams and frauds is much higher with cash and credit cards.
2. You do not get refunds either when you lose the cash in your wallet.
3. Governments will do anything to give a bad name to bitcoin.
4. Again, the same is true with fiat.
5. At least the price of bitcoin can go up, while with fiat your wealth only goes down.

[bayu7adi]

How many people actually understand the fiat monetary system? I suspect more people understand Bitcoin, than understand the realities of Fiat currencies. Certainly Bitcoin is talked about far more. Fiat operations and creation is kept a secret as far as possible.

Only insiders and the divine truly know the nature of FIAT.
FIAT is a business currency, in which those involved in the business always safeguard their secret recipe to prevent theft by others. A solid legal foundation and connections to the highest holders of power are necessary to successfully monopolize the currency market.
Bitcoin's transparency attempts to prove to society that honesty is the key to fairness. People are realizing that FIAT constantly experiences inflation, and Bitcoin should provide an alternative solution instead of its value being constantly eroded over time.