Bitcoin is not perfect, and that's okay.

[franky1]

"bitcoin is volatile.." no its not. it operates with known factors, like 2016 blocks a fortnight with (currently) 6.25 coin reward a block, halving 210,000 blocks after the last halving.. the variability tolerance is actually very low

however .. markets that use the dollar as a base exchange comparison which then affects people around the world with different living costs currency exchange rates causes the USD market to be volatile

if bitcoin was instead measured as for instance 2300 minimum wage hours, incrementing/decrementing in minutes/hours instead of dollars .. where each country can buy at their native countries minimum wage rate multiples. it would be a internationally fairer market.. the price would be more stable because each persons native living costs and thus ability to buy coin would be more equal

yes this would cause IE americans to buy on forex exchanges the currency of third world countries to then buy bitcoin, causing the FOREX market to become volatile whilst the arbitrage occurs of taking advantage of this. and we all know those in US wall street wont want their favoured FOREX to do that...
but the honest truth is bitcoin is not to blame. the USD exchange side and the controls/dominance of the USD on other countries is to blame, not bitcoin.

because bitcoin is an international asset currency it means different people with different living costs end up speculating at different prices due to the USD element.

if however you look outside the USD price and find the underlying base value no one ON THE PLANET wants to sell below. that value amount moves more stable, because its based on the most efficient cost on the planet to acquire bitcoin. not so much based on USD dominance

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[Raflesia]

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.

All things that are created not only bitcoin are not perfect and there must be updates again and again in each period as time goes by so when looking for the perfect in this world obviously there will be nothing like that.
As for bitcoin and their perfection is also not perfect but even so I don't think it's a big problem because in the end we already feel confident in what we are doing and I personally am in bitcoin not wanting perfection but as an investment that I think will be profitable if I continue to be here.
My view was proven right after a few years I got more profit than before and now I am restarting investment and waiting for my momentum to return to harvest the results of the investment I made.

[Sanitough]

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.

Bitcoin has its own flaws that makes its disadvantages but we can only say that because we always compare bitcoin to fiat. And anything that bitcoin lacks wherein fiat has it already is considered its disadvantages. We fail to realize that bitcoin is different from fiat in nature. So we don't need to compare it from fiat because if we analyze it closely, bitcoin is way more useful and helpful for the people not just in the form of a good currency but a good and profitable investment as well.

However, it's a good thing that the people have become more open-minded these days and they come to understand bitcoin more than fiat. But I must say when it comes to the government, I can still see that they are still doubtful with bitcoin. They have always believed and came to protect fiat from whatever its anomalies being involved, but they can never accept bitcoin because they have always treated it to be a threat to their own government and to their own fiat currency.

[Captain Corporate]

This is such an important thing that we need to keep reminding people, its really not the point of bitcoin to be perfect, it is just "better". It is an asset and a currency, how many things are out there that you can both invest to get richer AND use it as a currency? Not many, and even if you considered just fiat, something like dollar, is bitcoin better than dollar? I believe it is much better and that is enough. Just because it is better than dollar doesn't mean that it is perfect, of course there are plenty of things that are wrong with bitcoin too, but at the very least we can say that its the best we have in our hands. That is why it is important to make sure that it is doing fine on the long run.

[CryptoHeadlineNews]

Nothing we ever experience in this life was ever made perfect, and same goes to the invention of Bitcoin, as it had got its own flaws "negative & positive" sides, but yet still stands out to be the very best asset currently to invest in it for the future. Because we all know that the light bulb we enjoy today, took its inventor @ Mr. Thomas Edison 999 failed experiment before finally coming up with the light bulb, and likewise who knows that's how Satoshi might gone through after series of failed project, who later ended successful.

[milewilda]

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.

Bank transactions arent irreversible? I dont think so.
Volatility? Its normal.
Commit crimes? Fiat had been used for a long time.
Terrorism? Same goes for fiat

I dont see these things to be flaws but rather these are issues been thrown out commonly into those someone who do hate up Bitcoin but if we do look up throughly
in regarding into its benefits not only just into its utility but also in money making opportunity then we could really be having that win-win situation.
Those issues above arent really that truly an issue, it is really just that false media on which government had been doing all this even up to this time.

They wont really be getting tired on trying to destroy the image of Bitcoin considering that it is gradually getting that kind of attention on which
government would really be that not shocking they will really be trying out to destory its image so that people wouldnt really be tending to engage out.

[Kelvinid]

It is not perfect but still acceptable in the sense that people are benefiting from this despite the risk and FUDs. Besides, we don't need to look for a perfect creation because there is nothing that exists. Importantly, Bitcoin gives us the chance to earn which I see as the reason why people love it. While there are a lot of negative issues blaming Bitcoin, the more it gains attention and interest the more this project becomes more volatile and acceptable to the community. Good thing it is not perfect where there are pros and cons, otherwise we can never see things like this.

[Z-tight]

"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.

BTC tx's are irreversible, and it is a good thing for the network, it give a true sense of security and assurance than once your tx has been confirmed, there is no way it can be reversed, why would you love BTC tx's to be reversible, if that was the case BTC would just be like the many altcoins in the market and centralized services too. Take note that bank tx's can be reversed by the banks if you follow the process and complain to them why there should be a chargeback, bank tx's are not irreversible.

[GbitG]

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.

It's wrong that somebody said that Bitcoin is not perfect. Bitcoin is perfect in all aspects. There is nothing lacking in his own position. If you meant that I need such a thing that has nothing to stand out in it, then in the world there is nothing to be perfect except God because everything is made up of some lack of stimulus.

"The bitcoin market is too volatile and unstable"

It is true that the Bitcoin market is highly volatile and unstable, but it is up to you to determine how your thoughts and steps towards volatility will prevent it and survive against it. You need to make yourself aware of the volatility sentiment and try to manage it before investing.

"Bitcoin is used to commit crimes". (The lamest).

Nop, I disagree with you that somebody else believes that Bitcoin is a criminal coin or is used for illegal activities.
It's not Bitcion's fault; it's the fault of those people who use it wrongly. Why are the accused being killed? In fact, the bullet has taken the life of the servant; the killer only fired, but the bullet was supposed to kill the accused. Why the killer? So actually, those who use Bitcoin are criminals, not Bitcoin. Bitcoin is only a medium, like a bullet. If someone uses it wrongly, it is his fault, not Bitcoin.

[Alpha Marine]

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's really a thing.
Most times you'll see government officials talk about Bitcoin and how it promotes crimes.
In my country, if security agents ask you what you do for a living and you tell them you're a Bitcoin trader, they'll most likely treat you as a cyber-criminal.
It's something they don't understand, so they see it as a fraud.
It's funny because Bitcoin is not banned in my country, but trading Bitcoin is regarded as a scam.
And I understand them because a lot of scammers use Bitcoin trading as a front while they are carrying out their cyber crimes but that doesn't mean everybody that is involved in Bitcoin is a cyber criminal.

[Dr.Bitcoin_Strange]

"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.

You can't be very sure about that, mate; it was something I experienced, and it almost caused me some disagreement with my client. I did a successful transaction and received a debit alert, but the client was not credited the value. Bitcoin transactions are irreversible, and the only way to be disadvantaged is when you wrongly send your assets to the wrong wallet. Even in the banking sector, you can also make mistakes and transfer money to the wrong account number, but the only solution is that you can go to the bank to rectify the issue. Knowing that Bitcoin transactions are irreversible, users should be very careful and always cross-check their wallets before making payments.

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

That's where the profit comes from too.

[gunhell16]

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.

Everything you said is correct; the only difficulty is that others tend to imply that Bitcoin or other cryptocurrency is harmful and a hoax. However, they do not demonstrate or state that each country's fiat currency can be used for both evil and beneficial purposes, depending on the holder of the money.

That indicates that in order to be balanced, everything we do must have both positive and bad components. As you stated, Bitcoin may be used for both good and evil, which is correct. That is why it is up to us to determine what our purpose is and why we want to own Bitcoin or another cryptocurrency.

[serjent05]

Yeah, it is ok for Bitcoin to be currently not perfect, what matters is the innovations, upgrades, and updates that lie ahead.  It is okay if some of the features of Bitcoin are retained but it is best if many of its features will be developed to serve users more effectively.

If Bitcoin fails to adapt to the increasing demands and technological challenges, one day we might find Bitcoin to become obsolete and just a story of the past because it is believed that in this world those that survive are the one that is able to adapt to the changes and evolve.

[laurenB7742]

Nothing in this world is perfect and pleases everyone, everything has its pros and cons, just like people, no one is perfect. That's why there will be people who love or hate bitcoin, and we shouldn't be upset if someone is against bitcoin. Life is colorful and we should not impose our thoughts on others. Just like we hate fiat, hate banks but on the contrary, some people like to use them, there is nothing wrong with that as long as they are happy with their choice. Everyone has their own choice, no one is wrong if they are satisfied with what they choose.

[Oasisman]

"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.

Though this is correct, because once the transactions gets through it cannot be reverted, but there is something you can do with bank transfer to retrieve that money with the help of the bank and the recipient's cooperation.
However, for bitcoin you'll definitely leave with no option but to trace that address and ask the recipient to send back your bitcoin.
There's no form of money that is perfect btw. It can be used to bad things. Golds and any other forms of material has been used to pay criminals and terrorist long before the fiat was created.

[Assface16678]

I don't see how the statements made by the OP will be considered flaws because that is the characteristic of bitcoin—the nature of bitcoin itself. In fact, that is the beauty of bitcoin: its unique technology and characteristics that give investors opportunities. Volatile? I don't see that as a flaw. Yes, maybe from its word, but in bitcoin, it means profit potential. If there's no movement in the market, then there's no profit.

I agree with all the OPs who stated that not all things are perfect, even bitcoin. Yes, it can be subject to crimes and wrong deeds, but that is not the fault of bitcoin; the ones to blame are the people who commit the crimes.

So no matter what, I will still believe and do bitcoin stuff as long as I gain profit from it. This technology still has a lot to discover and can be applied to other technologies and daily lives.

[bluebit25]

It is not created to satisfy any individual, but rather to determine how we will accept its use. I also encountered similar prejudices from individuals, not only towards Bitcoin but also other areas of life satisfaction should be transformed into gratitude. Yes, I learned to be grateful for everything in life and to be grateful for every perspective on life from individuals, even if they oppose it. I understand the tool story that connects us and our selfgiving. The right itself represents the view of living freely, but there is no obligation to make it better.

Just like we like someone when that person doesn't meet our needs in that relationship, jealousy makes us potentially harmful to them. It's a pity that that love is just a narrow mindedness that wants to possess rather than hoping for good things to happen to them (and Bitcoin is similar).

[coinremitter]

Absolutely, like any innovation, Bitcoin has its strengths and weaknesses. It's essential to acknowledge its imperfections while highlighting its advantages. Bitcoin's transparency and security make it valuable, despite its occasional use in illicit activities. The key is to understand and address the challenges while embracing the potential for financial inclusion, decentralized finance, and borderless transactions that Bitcoin offers. As a crypto payment gateway, Coinremitter also aims to enhance the benefits of cryptocurrencies while addressing concerns through secure and user-friendly solutions.

[Z-tight]

Just like we hate fiat, hate banks but on the contrary, some people like to use them, there is nothing wrong with that as long as they are happy with their choice.

Bitcoiners do not hate fiat or banks in themselves, and that is because you cannot avoid using fiat or banks, you use it daily; what we oppose as Bitcoiners is the censorship and permissioned nature of fiat and banks, and since there is no way for us to change that, we have to use BTC for our money that we don't to be censored, and it is important not to use centralized exchanges when doing that, if not you are still being censored and your funds could be confiscated.

[Blitzboy]

Transaction irreversibility is important. This feature prevents some sorts of fraud, reflecting blockchain technology's strict ethics. However, it raises questions. What does perfect mean in the context of financial transactions? Flexibility, security, or something else?

Bitcoin's volatility is comparable to other financial markets, but its typically exaggerated. Any tradeable asset has peaks and valleys. Like the stock market, its an interaction of supply and demand driven by many factors.

If someone says that Bitcoin is used for illegal things, we should really look at the bigger picture. Human intention, not intrinsic qualities, determines the use or misuse of all tools and technologies. Why is Bitcoin often singled out? Maybe a fear of the unknown or reluctance to adopt a system beyond customary controls?