Bitcoin is not perfect, and that's okay.

[Alpha Marine]

Bitcoin is not perfect and so is every other innovation man has created.
Not perfect in the sense that it has pros and it also has cons.

"Bitcoin transaction is irreversible". I would have loved it to be, but there are reasons why it's not. Also, a transaction that was made from one bank account to another is irreversible too. So it's not new.

"The bitcoin market is too volatile and unstable"
So are the forex market and stock exchange market.

"Bitcoin is used to commit crimes". (The lamest).
So does the Internet, phones, computers, guns, and all. Even harmless things like vehicles, boats, and ships are used to commit crimes.

Terrorism has always been funded with fiat currencies since before the inception of Bitcoin. You can walk into a bank and withdraw $10k cash from your account and you do not know if the money was deposited into the bank by a human trafficker.
I don't see anybody fighting fiat because it's used to fund terrorism.

Democracy and capitalism are not perfect, but we all want them. Why? Why don't we ditch democracy and practice a perfect system instead?
Every human being having and enjoying their human rights is not perfect so let's ditch that also.

As Bitcoiners, it's okay to accept that Bitcoin has flaws but those flaws do not in any way make it inferior. The fact that about 0.25% of all cryptocurrency activities are associated with illicit activities according to  Chainalysis doesn't make it the "tool for terrorism" as the governments want people to believe.

[PytagoraZ]

Not just bitcoin, everything in this world has its negative and positive sides, it all depends on the person who holds it. Like fire which can be used to cook rice or burn down a house, like a car which can make transportation easier or hit someone. Religion also has different sides, one side views religion as absolute belief, but on the other side there are also those who consider religion to be an opium.

[pooya87]

doesn't make it the "tool for terrorism" as the governments want people to believe.

Is this really a thing that governments are discussing these days? Because the other day I saw another topic around the same subject here and despite the FUD about illicit usage being old it makes me wonder whether they are starting it up again?

[Frankolala]

The advantage of bitcoin is higher than the disadvantage and whatever that can be used for exchange of goods and services will always be used for illicit activities. Bitcoin is not the first and it will never be the last that, because both the good, bad must render services and buy goods.

I am happy that the government have come to understand that bitcoin is not the cause of illicit activities but the people that engage themselves in such activities, and the government should go for those people. Bitcoin volatile nature and its decentralized nature has made it tough for government to understand, and that was why they were against it initially, but after some government saw the potential in bitcoin, they decided to embrace it.

[freedomgo]

The world is not perfect either, so there's no such thing as perfect.

What makes bitcoin popular is it's usefulness to us, maybe not for everyone but those who have adopted it either for regular transactions purposes and for investment purposes. Maybe one of the many you mentioned which is this one "The bitcoin market is too volatile and unstable"... can be change in the future, and that is if there's a massive adoption that bitcoin is accepted anywhere and goverment has already clear rules about crypto industry as a whole.

Hopefully in the future we can say that bitcoin is not perfect but it made us rich. 

[blckhawk]

I guess this is the price we have to pay if we really want freedom because true freedom means that you can do anything no matter the moral implications is, so yes in a way bitcoin isn't perfect because it doesn't have a binary outlook on moral stuff, it's a grey area kind of thing where everything is permitted. You don't have to say that bitcoin isn't flawless, people already know those stuff and reminding them about it isn't really doing anyone any favor because it's not like they can't do much about those flaws.

[Hewlet]

Nothing is perfect, man! Everything has its limitations and shortcomings although some limitations are negligible and could be managed while others are awful and if there is a chance of doing away with it, should be made to go into extinction. This is the reason why you see people that believe in the prospect of Bitcoin advocating and hoping it gains acceptance by the majority of society because the fiat currency that is controlled by a central authority and is so much regulated by the government has worse off imperfections than what you just mentioned here.

Recently in my country, the government imposed an automatic deduction of a certain amount from all account holders and you don't even have a say regarding thos decision because they could make this withdrawal from there own end before you even notice it. What do you call that? Near perfection right?

[AprilioMP]

Excessive misperception. I think people who think Bitcoin is too negative didn't read the Bitcoin whitepaper written by Satoshi as the creator of BTC.

Bitcoin is a peer to peer electronic cash system. The whitepaper explains in detail starting from the introduction, transactions, timestamp server, proof-of-work, network, incentive, reclaiming disk space, simplified payment verification, combining and splitting value, privacy, calculations to the conclusion about the Bitcoin system.

I use Bitcoin for investment which is my choice. Meanwhile, for other users who want to use Bitcoin as money in transactions, it is their right. There is not a single sentence of explanation written in a number of parts of the Bitcoin whitepaper that Bitcoin is a system designed for crimes such as funding terrorist groups and for other prohibited things.

[bitmover]

"Bitcoin transaction is irreversible". I would have loved it to be, but there are reasons why it's not. Also, a transaction that was made from one bank account to another is irreversible too. So it's not new.

Bank transactions are not irreversible. Have you never received a refund?

A bank can revert your transactions.  They can also retain it until they verify if it is "clean" or not. They can revert and even give you a negative balance. Those things are not possible with bitcoin.

I don't think bitcoin is perfect for everything  either, however it works veery well to accomplish its goals.

[m2017]

Bitcoin is not perfect or flawless. It is a fact. But the advantages that the bitcoin gives are enough for me. This is already a lot, because nothing else could offer me something similar or close. This is the uniqueness of the bitcoin.

I like bitcoin  because of the new possibilities it opens up.

In fact, there are no bad tools. Just need to know how to use it. In the right hands, all the shortcomings of the bitcoin are leveled out.

[Youngkhngdiddy]

Bank transactions are not irreversible. Have you never received a refund?

A bank can revert your transactions.  They can also retain it until they verify if it is "clean" or not. They can revert and even give you a negative balance. Those things are not possible with bitcoin.

I don't think bitcoin is perfect for everything  either, however it works veery well to accomplish its goals.

I think it’s depends on the exchanger where you trade your coin. Platform like the Binance you can report any malicious transactions as long as you have the proof and every evidence of the transaction. Once you report the transaction your money will be returned to you if proven correct. The exchangers are working progress, it’s us certain that those in charge are looking for better ways to satisfy their customers. Same applies to the bank, when you make wrong transactions, they will ask you bring a police report and transaction receipt of the transaction before they can look into you case and this might take days and months before they refund your money.
  Just like every other investment, none is perfect, in everything in life there have to be advantages and disadvantages it  brings  balance to life.  It is okay not to be perfect, but with constantly evolving and growing it will be better than ever.

[TheUltraElite]

I think this is what makes bitcoin the proper alternative to fiat.

Basically these are emotional contexts to determine what is perfect and that is preferred because the other one is a mathematical explanation and that would prove bitcoin as perfect but few here would understand its beauty (myself excluded as well). I am a simple person and I understand the potential of bitcoin and having patiently observed it for the last few years while collecting it, I have only admired it more for its properties like censorship-resistance and decentralization.

Dont let the FUD get to you, see the charts, they speak a lot.

[kryptqnick]

I don't think there's anything perfect in reality, apart from, perhaps, parts of Maths, such as perfect geometric forms like a circle, and some numbers, but even those barely count because they aren't real in a sense that things are real.
Of course, it's totally fine that everything has its upsides and downsides.
Bitcoin transactions being irreversible can be an issue when someone made a mistake, but it's also a good thing because you know that once the first confirmation went through, the money won't disappear.
As for volatility, it can be bad for retailers because it's inconvenient for pricing, but it's an opportunity for traders.

[KiaKia]

Nothing is perfect, not a single one, and to me Bitcoin works as intended, it exists to be a digital currency and also a decentralized project for those who really need decentralization, I don't see any flaws in this two utilities, so for this, I will say because is a perfect decentralized digital currency.

There are many digital currencies that can't backed the decentralized part of their projects and with the fear of the regulators and others, they lied about been decentralized in the first place and slowly move into a centralized space easily.

Nothing is indeed perfect like OP said, but Bitcoin is perfect for what its been created to fix in the world today, and I am with Bitcoin as a strong supporter because of what its fixing in the world, how is this not perfect for me?

There is nothing in the world today that's not been used in crimes before, anything that's created to safe lives or fix problems can also be used for criminal activities.

[HideYourKeys]

It might not be perfect, but at least is better than the current system

[Faisal2202]

Someone is spitting out facts here, some true, cruel, hard-to-accept facts about BTC, and believe me, the points you have mentioned here are basically the main points that most of the governments that reject BTC use against it. The slogan has now become that it supports terrorist groups. And one other thing is that the country that talks a lot about it is the one that puts them in a position where they can have a big influence on the market and on the market's customers, like us and that country is the US.

They are the ones who have most of the BTC owned by their citizens in a country where BTC is accepted as legal tender (El Salvador).

The point is that BTC is decentralized and provides freedom of finance and freedom of speech too. And that is not acceptable to the connected world's governments or the banking sector. If people stop holding their funds in local currency in banks, then banks cannot use those funds to make further investments. Our money is not at rest in banks, while the numbers in our accounts are. They use our funds from all kinds of work, and then at the end, they have to arrange funds for us if we exceed their expectations for the withdrawals.

[bhadz]

It is imperfect just as what the fees are right now. There are alts that have free transactions and even those are fast but will cost less. But this imperfection of Bitcoin leads to more adoption and stronger appeal to the community because that's how it should be. This imperfection only shows that despite with that, people is still choosing and it will continue to dominate the crypto market because it is what the people like.

It might not be perfect, but at least is better than the current system

This is right. Those that have lesser fees and quicker transactions might be better on that term. But if we're going to take a look the entire picture, Bitcoin is better than them maybe a hundred times because it's still decentralized on its nature unlike them, very centralized or semi.

[ZAINmalik75]

Recently in my country, the government imposed an automatic deduction of a certain amount from all account holders and you don't even have a say regarding thos decision because they could make this withdrawal from there own end before you even notice it. What do you call that? Near perfection right?

That's not fair; they should not have imposed an extra tax on the holdings, which would make someone lose their holdings. Banks are the backbone of the country, and if there will be no money in them, then how can they run the country's business at a small level? But many small banks tried to play out of their league and got bankrupt due to a lack of money and big hopes and ended up losing their customers' money too.

Banks are not sincere with their customers. A few days ago, I watched a video of a local of our country who was sharing how he was scammed by the biggest bank, HBL, of our country in the case of insurance. His father had insurance for 10 years, and the money they will make you is 2x or 3x, but when the time of the claim came, they started to make claims that the manager from whom you took the advice is not here anymore, etc.

This is just the most recent one I have seen; on a daily basis, many other cases are occurring. Banks are also not perfect, which has existed for hundreds of years; how can BTC be perfect, which is not 18 years old yet?

[dothebeats]

doesn't make it the "tool for terrorism" as the governments want people to believe.

Is this really a thing that governments are discussing these days? Because the other day I saw another topic around the same subject here and despite the FUD about illicit usage being old it makes me wonder whether they are starting it up again?

They may not be bringing that up, because it remains as a fact to them so is to the general public. That's always been one of the main points that the governments are using to justify their stance against cryptocurrencies. Fiat is also used in these illicit purchases, though they are not really highlighting that at all. I guess, it's part of the beauty of bitcoin. You have this negative tag that follows it no matter where you go.

As for OP, no system is perfect. All has its flaws that another imperfect system might patch up. It's just the way it is. The growing demands of Man will always render a 'perfect' system obsolete or imperfect in time.

[Odohu]

doesn't make it the "tool for terrorism" as the governments want people to believe.

Is this really a thing that governments are discussing these days? Because the other day I saw another topic around the same subject here and despite the FUD about illicit usage being old it makes me wonder whether they are starting it up again?

It is actually happening in many countries.  As a matter of fact, Bangladesh banned Bitcoin through different conjectures that do not hold any substance. India too was not too friendly with Bitcoin for various poor reasons, I don't know if that have changed now.  Terrorism is usually the major point they use and even form the second core basis for KYC by the CEX after money laundering.