Negative influence of bitcoin

[Wakate]

When we talk about investment we need to have a comprehensive idea that we shall be the one taking all the risk during the investment because we kindly decided to make the investment about our sole research. Those that invested in Bitcoin and other cryptocurrencies and made lose did so in there risk.

It is good for us to have idea about the project we shall be investing in before decided to buy and invest in that project. Sometimes we can do research about a project and the project still end in rug pull. This happens always but it's not intensional most time since things can go wrong anytime.

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[iBaba]

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.

In contrary to your claims, the decentralized model of Bitcoin has made it even more secured for people to enjoy trading. When you transact with your Bitcoin, it doesn't have to undergo any central authority to get to the receiver, rather it's delivered peer-to-peer exchange. You literally own and control your own Bitcoin.

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

Secondly, with the deployment of the cryptographic techniques to protect transactions, Bitcoin is more secured than the fiat currency. As a recipient of a verified transaction, you're provided with private keys which is just like a password (to be simply put)  to be able to unlock the Bitcoins. Seed phrases amongst others are more security.

Thirdly, easy accessibility gives Bitcoin edge over the conventional currency. Unless the fiat currency that you have to visit the bank or ATM to either initiate some huge transactions or take some cash. Bitcoin is a digital currency right on your computer and mobile devices with limitless transactions.

And list continues.

[tread93]

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.

The only thing that I think you forgot is that you can't hold it in your hand/ physical. But this is also a double edged sword. If you had to move your entire life savings what better way to move and flee to another country (think refugees or something).

[bussybuddy]

Since knowing about bitcoin and using it, I have never blamed it for being negative or positive, the problem is how to use it to get results from it. Not only bitcoin but many other things are attached to people with different opinions, people who don't like to research themselves based only on information from and conclusions from others will live within those limits of information, nature I personally always want to make bitcoin good for everyone, but this life is very fair between bad and good. Therefore, people need to be more engaged in sharing information as well as their own experiences with many others and spreading more positive values.

[Luzin]

Since knowing about bitcoin and using it, I have never blamed it for being negative or positive, the problem is how to use it to get results from it. Not only bitcoin but many other things are attached to people with different opinions, people who don't like to research themselves based only on information from and conclusions from others will live within those limits of information, nature I personally always want to make bitcoin good for everyone, but this life is very fair between bad and good. Therefore, people need to be more engaged in sharing information as well as their own experiences with many others and spreading more positive values.

Yep, I think it depends on our mindset towards Bitcoin. As long as we use it for good things, of course more positive things will be caused. As an example, Crypto currently has an impact on the government that gave rise to digital currencies. They try to imitate for transaction efficiency and keep up with the times.
Indeed, some countries refused, even the IMF feared that there would be damage to world finances due to Bitcoin. But in the development even many countries are starting to collect taxes from crypto. I have felt a positive impact with my economic situation which was helped by Bitcoin and crypto.

[LogitechMouse]

Those negatives that you shared has a solution. I will comment base on what I know (not expert here).

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

That's why we have many information in the internet right now right? No knowledge? It isn't applicable only to Bitcoin, but to everything. When you invest, you need knowledge right? Where can you get it? You can get it online, when you have a mentor, or if somebody will guide you. In everything that's related to investing, you really need knowledge in order for it to understand. I think there's nothing that you can understand without any knowledge into it. Just pure common sense.

Scam? Fraud? Did you compare how many scams, and fraud investment have used both Bitcoin, and fiat already? Give us some numbers that shows that it really is high because what I know is that fiat currency is the most common currency that's being used by scammers to scam people.

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

So you're saying that banks are refunding you if you lost your money? It's the same as with Bitcoin. You lose your fiat currency, you lost it forever. For Bitcoin, you lose your private keys, you lose it forever.

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

Privacy? Isn't it a bad thing? On what way?
Because what I know is that, it's never comfortable to share your private information to some random strangers out there. TBH, privacy has more benefits than disadvantages.

4. Cyber hacking - cyber wizards an fraudsters makes people to loss bitcoin wallets and money.

On the other hand, we have corrupt government officials slowly diminishing the value of your fiat currency thru massive printing for their own sake. Isn't it fraud as well?

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

Vitalities? You mean volatile right?
Why? Do you think the stock market is predictable? Is there any market out there that's predictable with regards to it's price a few years from now? I mean with 100% accuracy.

[isaac_clarke22]

You list the negative aspects of bitcoin. Do you think that cash, bank accounts, the stock market or other financial instruments have no disadvantages? Everywhere has its downsides.

I kinda have the same thoughts as yours. Not sure if OP is even looking at fiat while mentioning these disadvantages/negatives as this is truly like applicable also to fiat.
Bitcoin not easily being understood by people? I am pretty sure I was curious as well on how banks work and it is not just something we call "storage of money".

I read someone mentioning here that withdrawing money from bank is non refundable as well. I am pretty sure that every digital payments has that non-refundable concept. It's forever recorded in the database. Fuck all those claiming to recover those lost funds though, lol.

That's why we have many information in the internet right now right? No knowledge? It isn't applicable only to Bitcoin, but to everything. When you invest, you need knowledge right? Where can you get it? You can get it online, when you have a mentor, or if somebody will guide you. In everything that's related to investing, you really need knowledge in order for it to understand. I think there's nothing that you can understand without any knowledge into it. Just pure common sense.

Scam? Fraud? Did you compare how many scams, and fraud investment have used both Bitcoin, and fiat already? Give us some numbers that shows that it really is high because what I know is that fiat currency is the most common currency that's being used by scammers to scam people.

You know I am kinda bothered that people think that Bitcoin itself is a scam. Why haven't people just banned fiat if they wanted to put a stop to all these scums.
I get it that Bitcoin is almost non traceable since address can only be the leads unless the address is being used in a custodial wallet, but I am pretty sure there are waaay more untraceable ways that people do to do such crimes using fiat.

[Bitcoin_people]

I think bitcoin can change a person's negative impact and his unemployed life. Another person's digital currency, Bitcoin, helps create a special structure economically. But only those who have spiritual knowledge about Bitcoin invest in Bitcoin. There are many people who are not well educated about Bitcoin and are interested in investing without understanding. Later they fall into a huge risk so one should acquire good knowledge about Bitcoin before investing later. there are some ignorant people who have no spiritual knowledge about investment but come to invest and later try to invest by going to various scam apps. As a result, they lose the money they invest. so don't invest without learning about Bitcoin.