Bitcoin is not perfect, and that's okay.

[Mate2237]

~

Yes bitcoin also has advantages and disadvantages but that doesn't mean it is not perfect. It transactions are irreversible because it is a decentralized cryptocurrency blockchain nobody control but if the recipient is a good person and you discuss with him or her, you the coins can be send back to you therefore it has been reversed .

The volatile and unstable Market price make bitcoin more interesting because when the price is low anybody who has money at that time can buy it and hodle it for the next bull market.

Remove that particular clause that says "bitcoin is used for crime". Bitcoin is a newbie in the world and crime has been on this Earth centuries before even bitcoin come to this world so bitcoin has nothing to do with crime. It is crime that comes to it and not bitcoin that looks for crime. People use it to commit crime and that doesn't mean bitcoin is a crime invention.

I only like democracy and not capitalism. I am not a pro capitalist but a strong believer of socialism. And I might only adopt the mix economic system. Yes I agree with you on the saying that, the flaws of bitcoin is not it weak point either they are making it more stronger.

[1715553437]

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[Shishir99]

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?

I don't know about other countries pooya87, but I know about my country. The explanation from the central bank is Bitcoin and all other cryptocurrency are banned here because criminals use these currencies for money laundering and their crimes. The government agrees with the central bank and there is no one who can explain to them the good side of Bitcoin.

There is one minister who thinks it's just a currency nothing else. If someone wants to do money loundering, they can still do it by using skrill, Payoneer, or perfect money which is available here. The problem is, all most everyone in the government is outdated people (Old age).

[YUriy1991]

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?

I think the government is only reading the negative implications of a part of society that doesn't yet understand this technology and what is most felt is that the use of cash and its circulation is decreasing rapidly and a lot. Why is this because the creator of BTC does not want to submit to financial institutions that like policy monopolies and centralized governments that try to control all aspects of their money supply. I think they just limit the market. But, whether they like it or not, many people want to be exposed to bitcoin.

[Shishir99]

I think the government is only reading the negative implications of a part of society that doesn't yet understand this technology and what is most felt is that the use of cash and its circulation is decreasing rapidly and a lot. Why is this because the creator of BTC does not want to submit to financial institutions that like policy monopolies and centralized governments that try to control all aspects of their money supply? I think they just limit the market. But, whether they like it or not, many people want to be exposed to bitcoin.

It's not like they don't know about the positivity of Bitcoin. They just pretend like there is no good or positive side to Bitcoin. But we all know why they don't want to legalize Bitcoin. They are scared of Bitcoin. They know they will lose revenue if they approve Bitcoin as legal tender. People will use Bitcoin freely and the government won't make any money from Bitcoin use.

As long as they have the authority to legalize anything and declare anything illegal. So, why miss the opportunity to make some money from people's transactions? They are unlikely to legalize Bitcoin until people pressure them about it.

[legendbtc]

I think the government is only reading the negative implications of a part of society that doesn't yet understand this technology and what is most felt is that the use of cash and its circulation is decreasing rapidly and a lot. Why is this because the creator of BTC does not want to submit to financial institutions that like policy monopolies and centralized governments that try to control all aspects of their money supply? I think they just limit the market. But, whether they like it or not, many people want to be exposed to bitcoin.

It's not like they don't know about the positivity of Bitcoin. They just pretend like there is no good or positive side to Bitcoin. But we all know why they don't want to legalize Bitcoin. They are scared of Bitcoin. They know they will lose revenue if they approve Bitcoin as legal tender. People will use Bitcoin freely and the government won't make any money from Bitcoin use.

As long as they have the authority to legalize anything and declare anything illegal. So, why miss the opportunity to make some money from people's transactions? They are unlikely to legalize Bitcoin until people pressure them about it.

The government understands bitcoin better than we do and that's why they don't want to accept it. It's naive to see them ban or dislike bitcoin, meaning they have no knowledge about it. If they don't have knowledge about it then how will they know that it will harm them more than it will benefit them? The government is not as stupid as we think, if they were stupid they would not become our leaders. Furthermore, I think they are the ones spreading negative things about bitcoin, not anyone else.

[Webetcoins]

The explanation from the central bank is Bitcoin and all other cryptocurrency are banned here because criminals use these currencies for money laundering and their crimes.

This is the lamest excuse the authorities and governments make when they want to ban or stop Bitcoin from spreading within the country because they know if that happens, they are slowly going to lose control over their people, their finances, and financial activities and they can't afford to let that happen. When they say that Bitcoin and cryptocurrencies are used by criminals to fund their crimes, they ignore the fact that criminals have been using fiat currencies for centuries for the same thing, but we never saw anyone saying that fiat currencies should be banned for this because they know it's them who are in total control of the money.

If they say that Bitcoin and cryptocurrencies are not traceable and that is the reason why they are against them and think they are easily usable for criminals, even cash that is used by criminals doesn't leave any traces for them to catch the criminals, if a criminal is using a specific currency for any crime, the money is then mixed in the economy and they can't find the criminals based on that.

[Smack That Ace]

The explanation from the central bank is Bitcoin and all other cryptocurrency are banned here because criminals use these currencies for money laundering and their crimes.

This is the lamest excuse the authorities and governments make when they want to ban or stop Bitcoin from spreading within the country because they know if that happens, they are slowly going to lose control over their people, their finances, and financial activities and they can't afford to let that happen. When they say that Bitcoin and cryptocurrencies are used by criminals to fund their crimes, they ignore the fact that criminals have been using fiat currencies for centuries for the same thing, but we never saw anyone saying that fiat currencies should be banned for this because they know it's them who are in total control of the money.

If they say that Bitcoin and cryptocurrencies are not traceable and that is the reason why they are against them and think they are easily usable for criminals, even cash that is used by criminals doesn't leave any traces for them to catch the criminals, if a criminal is using a specific currency for any crime, the money is then mixed in the economy and they can't find the criminals based on that.

There are not too many countries in the world that ban bitcoin anymore, most of them are starting to have a more positive view of bitcoin. So I think we should stop paying attention to what governments that are still hostile to bitcoin say about it. Sooner or later those countries will have to change their views on bitcoin if they don't want to fall behind the world. I'm still living in a country where bitcoin is still illegal but I'm optimistic about its future in my country. No country can stop the development of bitcoin unless they want to completely separate themselves from the rest of the world.

[Shishir99]

There are not too many countries in the world that ban bitcoin anymore, most of them are starting to have a more positive view of bitcoin. So I think we should stop paying attention to what governments that are still hostile to bitcoin say about it. Sooner or later those countries will have to change their views on bitcoin if they don't want to fall behind the world. I'm still living in a country where bitcoin is still illegal but I'm optimistic about its future in my country. No country can stop the development of bitcoin unless they want to completely separate themselves from the rest of the world.

As I said in my previous post, it's not like they don't know the positivity of Bitcoin. They know it but they don't want to give the chance to their people to use it so they don't miss any profit. If you notice, Bitcoin is banned mostly in corrupt countries. My country is one of the most corrupt countries and Bitcoin is still banned here.

Most government employees are old aged and they don't understand the tech well. They don't know how it works. So asking them to legalize Bitcoin is absurd at this moment.

[bettercrypto]

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?

I think the government is only reading the negative implications of a part of society that doesn't yet understand this technology and what is most felt is that the use of cash and its circulation is decreasing rapidly and a lot. Why is this because the creator of BTC does not want to submit to financial institutions that like policy monopolies and centralized governments that try to control all aspects of their money supply. I think they just limit the market. But, whether they like it or not, many people want to be exposed to bitcoin.

That's right, and you're right; that's all other governments can do because they don't have the ability to control Bitcoin, so in return, they will talk negatively about Bitcoin.

But no matter what negative things they say about Bitcoin, its popularity continues to rise, which shows that many people really believe in Bitcoin in the reality that is happening now in the field of this business industry.

[Magic-Money]

You spoke well in the respect of Bitcoin function by comparing it to others source of financial sector transaction, especially local bank transaction from one account to another without irreversible after sending the funds, which is absolutely applicable to Bitcoin been creation as a simple means of digital currency assets which is highly demanded in the global market.

[Solokan]

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.

Yes, there are definitely positive and negative sides to Bitcoin, and apart from Bitcoin, there are definitely positive and negative sides, for example vehicles or factories also definitely have positive and negative sides because they usually cause bad pollution as well as other businesses. The point is that nothing in this world is the name does not contain positive and negative sides. but what is clear and my personal experience is of course I feel the positive side of bitcoin because with bitcoin my economy has become more advanced and because of bitcoin I can get to know this fun forum, and in this case of course we have to accept reality and enjoy life, make life happy and always think positively.

[Silberman]

That's right, and you're right; that's all other governments can do because they don't have the ability to control Bitcoin, so in return, they will talk negatively about Bitcoin.

But no matter what negative things they say about Bitcoin, its popularity continues to rise, which shows that many people really believe in Bitcoin in the reality that is happening now in the field of this business industry.

This is happening because despite all the lies they like to spread about bitcoin people are deciding to give it a chance and they are finding it to be useful for their goals, something that we should not find too surprising, as with the economy in some countries presenting a high level of inflation and unemployment it is natural for those people to look for alternatives which will help them to somehow deal with such a difficult environment.

[ultrloa]

That's right, and you're right; that's all other governments can do because they don't have the ability to control Bitcoin, so in return, they will talk negatively about Bitcoin.

But no matter what negative things they say about Bitcoin, its popularity continues to rise, which shows that many people really believe in Bitcoin in the reality that is happening now in the field of this business industry.

This is happening because despite all the lies they like to spread about bitcoin people are deciding to give it a chance and they are finding it to be useful for their goals, something that we should not find too surprising, as with the economy in some countries presenting a high level of inflation and unemployment it is natural for those people to look for alternatives which will help them to somehow deal with such a difficult environment.

To many negative words spread by those people who didn't believe on bitcoin or have bad motive because they have other something to promote but none of them succeed since bitcoin still been supported by majority and even if we see some flaws like high fees when there's a problem on the network still people find it normal event happening. That's why any entities that want to destroy bitcoin will not succeed since people already know that bitcoin is not really perfect but already show some positive result that's why many people still believe the strength of this coin.

If they keep their hate on this coin and to many good events will happen like legal adoption also more bull run for sure those people will miss a lot of opportunity that they might regret later on.

[Ale88]

"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.

I don't know the details but if for some reason you make a wrong wire transfer the bank should be able to get the money back. And if you receive some money that you were not supposed to receive and you decide to simply keep it/spend it then you are going to be in some serious troubles. With bitcoin none of this happens and I never know whether consider it something good or bad.

[jrrsparkles]

"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.

I want to correct your statement, bank transactions are reversible and it's simply possible with a single click from the banking side and the common term we see is chargeback. Whereas in Bitcoin the transactions are impossible to reverse and the difficulty becomes higher and higher along with number of confirmations so how can you say it as bad thing?

[Wend]

"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.

I want to correct your statement, bank transactions are reversible and it's simply possible with a single click from the banking side and the common term we see is chargeback. Whereas in Bitcoin the transactions are impossible to reverse and the difficulty becomes higher and higher along with number of confirmations so how can you say it as bad thing?

But it's not easy for you to convince the bank to help you get your money back once you've sent it. If it's just a small amount, you won't have a chance to get your money back after transferring it to someone else. If it is a large amount of money, you will certainly have to present a lot of evidence and ask the police to intervene and you will spend a lot of time waiting for the bank to process it. In general, I think getting your money back in a banking transaction is not simple if the error is on the user's side.

[Blitzboy]

~

Yes bitcoin also has advantages and disadvantages but that doesn't mean it is not perfect. It transactions are irreversible because it is a decentralized cryptocurrency blockchain nobody control but if the recipient is a good person and you discuss with him or her, you the coins can be send back to you therefore it has been reversed .

The volatile and unstable Market price make bitcoin more interesting because when the price is low anybody who has money at that time can buy it and hodle it for the next bull market.

Remove that particular clause that says "bitcoin is used for crime". Bitcoin is a newbie in the world and crime has been on this Earth centuries before even bitcoin come to this world so bitcoin has nothing to do with crime. It is crime that comes to it and not bitcoin that looks for crime. People use it to commit crime and that doesn't mean bitcoin is a crime invention.

I only like democracy and not capitalism. I am not a pro capitalist but a strong believer of socialism. And I might only adopt the mix economic system. Yes I agree with you on the saying that, the flaws of bitcoin is not it weak point either they are making it more stronger.

~

Yes bitcoin also has advantages and disadvantages but that doesn't mean it is not perfect. It transactions are irreversible because it is a decentralized cryptocurrency blockchain nobody control but if the recipient is a good person and you discuss with him or her, you the coins can be send back to you therefore it has been reversed .

The volatile and unstable Market price make bitcoin more interesting because when the price is low anybody who has money at that time can buy it and hodle it for the next bull market.

Remove that particular clause that says "bitcoin is used for crime". Bitcoin is a newbie in the world and crime has been on this Earth centuries before even bitcoin come to this world so bitcoin has nothing to do with crime. It is crime that comes to it and not bitcoin that looks for crime. People use it to commit crime and that doesn't mean bitcoin is a crime invention.

I only like democracy and not capitalism. I am not a pro capitalist but a strong believer of socialism. And I might only adopt the mix economic system. Yes I agree with you on the saying that, the flaws of bitcoin is not it weak point either they are making it more stronger.

Its like seeing the glass half full, right? Transaction irreversibility is unique. Sure, its decentralized, but like you said, if the other person's cool, they might just send your coins back. Its a trust thing, more about people than the tech itself. The market's fluctuations? Your point is clear. Some appreciate an exciting rollercoaster. Buy cheap, hold, and hope for a bull market; a risky but potentially profitable strategy.

 Its not Bitcoin's fault it gets into crime stuff. Bitcoin is a tool, and people utilize it. Democracy vs. capitalism is a complex debate. You favor socialism, which is good. It may benefit by mixing elements of various systems. Maybe maintains balance? I agree on Bitcoin's problems. Sometimes, what doesnt break you strengthens you. These faults could make Bitcoin stronger over time. We must adapt and evolve with it.

[jeraldskie11]

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

Bitcoin has the least volatility in all the cryptocurrency except stable coins such as USDT, USDC, BUSD, and etc. But if you compare Bitcoin to forex market we can say that Bitcoin is so volatile especially if you used to trade forex for a long time. Aside from that, most trading pairs in forex market are fiat which is stable, that's why they used "lots" to earn huge profit even with a small movement of the price.

[Victorik]

Wise words!
Nothing in life is perfect. Perfection is beyond humanity, Soo no one should expect it from human inventions.

Every form of investment is risky, so it is not just peculiar to Bitcoin. There are so many persons who have lost huge sum of money in forex, stocks and other forms of commodity trading.
So, it is quite laughable that some people will be bad mouthing Bitcoin and claim that it is too volatile.

[tygeade]

"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.

I don't know the details but if for some reason you make a wrong wire transfer the bank should be able to get the money back. And if you receive some money that you were not supposed to receive and you decide to simply keep it/spend it then you are going to be in some serious troubles. With bitcoin none of this happens and I never know whether consider it something good or bad.

I mean there are levels to that, you are capable of doing it if you want to, like chargebacks, but it is not that easy. The ability to chargeback a charge on your credit card and trying to reverse a wire transfer is not the same, there are difficulty differences. In one case it could be done, and in another it might be an issue.

I believe that we need to make sure that it is not a wrong transfer, we need to be aware of what we are doing and we need to take care of the parts that we have. Otherwise, we are going to end up with a trouble and we should try to avoid that. If we make a wrong move in crypto, there is no way to reverse that, it's gone, but it's not that easy like a click of a button in fiat neither, so we should still be careful.