Does bitcoin solve more problems than it creates?

[Meuh6879]

Few people hold the majority of bitcoin.

and 3600 BTC are created every day ...

[virtualx]

good things:
1. cheap way to send money
2. only 21 mil ever in circulation

So why should more people start using btc?  It seems the cons outweigh the pros.

You forgot a few.

good things:
3. control of your own money (no need to trust an institution)
4. enables business to reach larger market
5. enables individuals various legal ways to earn
6. enables to donate directly to the people in need, as opposed to intermediary thieves in charity organisations
7. enables you to send money to friends online
8. improves technology economy (people buy lots of hardware equipment)
9. many fun projects
10. proof that decentralized systems can and do work

[Elwar]

Few people hold the majority of bitcoin.

and 3600 BTC are created every day ...

Funny how people are acting like this is something new.

Have you read the white paper?

[ebliever]

Problems with btc:
1. wild, unstable exchange rate
2. difficulty to obtain and use (for most people)
3. getting coins hacked or lost by sending to wrong address
4. fraud/theft at exchanges (if it happened at Gox it could happen anywhere)
5. it enables criminals to get paid online
6. there are already plenty of ways to send money online a lot easier, it doesnt really do anything new
7. absolutely no buyer protection
8. scam companies/scammers

1. This is just a functional of the relatively small market cap and speculation in BTC; as the market matures this will be a self-solving problem. But it's a bit silly to complain about a "problem" that exists only because BTC has rocketed upward in value in the past 5-6 years. That's like complaining Apple stock has a problem because it's been so profitable.
2. It's easy to sign up on coinbase and link your bank and/or credit card to it, to buy BTC. Trivial really, and no harder than signing up for a new user account on any given retail website. So I don't buy this one either.
3. I don't see anything unique in this - in principle you can make equivalent errors with Fiat transactions.
4. I agree this is a problem; customers of exchanges do need to keep voting with their funds, favoring exchanges that are the most transparent and aggressive in maintaining good security. Fiat exchanges in principle could be just as vulnerable to online theft, so I see the difference here as largely one of crypto exchanges being less well-funded and they've not been around long enough or have enough experienced employees to have a full security system in place.
5. Criminals also move fiat around on-line. Granted, the pseudo-anonymity of crypto is attractive to criminals. But it is also attractive to legitimate dissidents to repressive governments, and free citizens worldwide who shouldn't have government/neighbors/anyone else snooping on them either.
6. With logic like that we'd still be walking and refusing to ride horses, much less drive cars! Sure you can send fiat around with a 2.9% or $10 or more transfer fee, but BTC is MUCH more efficient. And much faster. These are clear wins for crypto that will ultimately force the issue - people do not like wasting money and BTC/altcoin transfer efficiency will steadily defeat competition over the long haul for this reason.
7. Buyer protection is only as good as the company offering it anyway; legitimate businesses will treat customers fairly if they want to avoid a death spiral of negative publicity. I think this is the one issue BTC supporters stress about more than they should. It's not a non-issue, but long-term business self-interest makes it much less of an issue than many people think.
8. Granted there is an intense focus by criminals on bitcoin these days; most of us here for any length of time have shrapnel in us attesting to that fact, myself included. So I'm in agreement on this one, and think we as a community need to develop and publicize best practices for individuals and businesses to defeat the scammers. If we can block 90% of the scamming with a reasonable combination of security improvements at exchanges and so forth, and increased user awareness, and improvements in wallet software and so forth, we'll hopefully drive the scammers to go chase lower hanging fruit somewhere else or just give up.

[BitCoinNutJob]

Problems with btc:
1. wild, unstable exchange rate
2. difficulty to obtain and use (for most people)
3. getting coins hacked or lost by sending to wrong address
4. fraud/theft at exchanges (if it happened at Gox it could happen anywhere)
5. it enables criminals to get paid online
6. there are already plenty of ways to send money online a lot easier, it doesnt really do anything new
7. absolutely no buyer protection
8. scam companies/scammers
feel free to add to this list ^^

good things:
1. cheap way to send money
2. only 21 mil ever in circulation

So why should more people start using btc?  It seems the cons outweigh the pros.

1. that is due to it being early days
2. same as 1
3. that is the responsibility of the user
4. do not trust your money with third party
5. criminals also use cash
6. it sends money without the need for 3rd party, this is new
7. buyer protection requites 3rd party which could be organized by a 3rd party
8. government hasnt yet had time to regulate the space

[franky1]

Problems with FIAT
1. wild, unstable exchange rate
2. difficulty to obtain and use (for most people as they are all on minimum wage)
3. getting taxed fined or robbed by doing things where others are not even hurt
4. fraud/theft at banks (if it happened at HSBC, JPMorgan it could happen anywhere)
5. it enables criminals to get paid
6. there are already plenty of ways to send money online a lot easier, it doesnt really need anything new thats free, after all FIAT = added fee's
7. absolutely no protection, unless you pay for insurance or band security
8. scam companies/scammers
feel free to add to this list ^^

good things:
1. if you hand police, judges or state officials it.. they leave you alone

[jcoin200]

Problems with FIAT
1. wild, unstable exchange rate
2. difficulty to obtain and use (for most people as they are all on minimum wage)
3. getting taxed fined or robbed by doing things where others are not even hurt
4. fraud/theft at banks (if it happened at HSBC, JPMorgan it could happen anywhere)
5. it enables criminals to get paid
6. there are already plenty of ways to send money online a lot easier, it doesnt really need anything new thats free, after all FIAT = added fee's
7. absolutely no protection, unless you pay for insurance or band security
8. scam companies/scammers
feel free to add to this list ^^

good things:
1. if you hand police, judges or state officials it.. they leave you alone

So you're agreeing that btc has all the same problems 

Except, fiats exchange rate is not exactly day to day "wild," and the income equality problem is not solved by btc.  Its still controlled by elites who hold the majority and are able to manipulate price.

And if someone steals cash from you, police will at least look into it.  BTC, your on your own.

[franky1]

Problems with FIAT
1. wild, unstable exchange rate
2. difficulty to obtain and use (for most people as they are all on minimum wage)
3. getting taxed fined or robbed by doing things where others are not even hurt
4. fraud/theft at banks (if it happened at HSBC, JPMorgan it could happen anywhere)
5. it enables criminals to get paid
6. there are already plenty of ways to send money online a lot easier, it doesnt really need anything new thats free, after all FIAT = added fee's
7. absolutely no protection, unless you pay for insurance or band security
8. scam companies/scammers
feel free to add to this list ^^

good things:
1. if you hand police, judges or state officials it.. they leave you alone

So you're agreeing that btc has all the same problems  

Except, fiats exchange rate is not exactly day to day "wild," and the income equality problem is not solved by btc.  Its still controlled by elites who hold the majority and are able to manipulate price.

And if someone steals cash from you, police will at least look into it.  BTC, your on your own.

police wont look into fiat crimes.
if its small amount of bank notes they will say unless you have a suspect on video or can prove it, its just hearsay.
if its credit card fraud they tell you to go to your credit card company.
infact if you carry $10k+ over a state border they take it off you (research policing for profit)
if you think FIAT is stable in the last 5 years has the income you got in 2009 bought you more goods or less. EG bread 2009 ~$2... but now ~$2.50 meaning less bread now. (remember the financial crises!?)
should i bring up venezuela, argentina, cyprus, russia, greece, etc and their current economy?

bitcoin is not controlled by the elite. i had someone just last month start selling goods in bitcoin, he is making a nice income.
mining is not the only way to earn bitcoin and profit, infact just like gold its easier to open a pawn shop accepting gold, rather than start mining for gold
its easier to start a bitcoin business compared to a FIAT business. no paperwork to get 'accounts', etc to start accepting payments.

[johnyj]

Bitcoin only solve one problem: Fiat money being legally counterfeited everyday, while with bitcoin you can not counterfeit it even you pass a law

[shawshankinmate37927]

Bitcoin only solve one problem: Fiat money being legally counterfeited everyday, while with bitcoin you can not counterfeit it even you pass a law

Bitcoin also solves this problem:
http://downtrend.com/71superb/small-business-owner-fights-back-after-irs-seizes-35000/

[Q7]

Yeah bitcoin has its weaknesses but it also solves many of the financial issues we are facing with cheap free flowing fiats. But once these issues get overcome it will definitely take off.

[247casino]

Problems with btc:
1. wild, unstable exchange rate
2. difficulty to obtain and use (for most people)
3. getting coins hacked or lost by sending to wrong address
4. fraud/theft at exchanges (if it happened at Gox it could happen anywhere)
5. it enables criminals to get paid online
6. there are already plenty of ways to send money online a lot easier, it doesnt really do anything new
7. absolutely no buyer protection
8. scam companies/scammers
feel free to add to this list ^^

good things:
1. cheap way to send money
2. only 21 mil ever in circulation

So why should more people start using btc?  It seems the cons outweigh the pros.

my opinion has always been

vice needs fuel new user wallets

GREED (people get into btc for greed, invest and mining examples)
DRUGS (people use and sell it's a great vice currency)
GAMBLING (people all over the world gamble and btc casinos are a huge growth industry)
PORN (great currency for adult industry since tradtional banks hate porn)

Almost everyone on the planet can be slotted into one of those vice areas as to WHY they need btc

btc is a perfect fit as to a vice currency to feed those vice needs

cash has fueled drugs, porn, gambling vice for years

now OL drugs, porn and mostly gambling is fueling btc

silk road was the drug vice fuel, now there's hundreds of silk roads
OL btc casinos are the new major fuel for new consumers entering into btc
GREED is obvious, all the mining and investing is GREED vice related, the insatiable need of humans to MAKE MONEY
Porn will soon convert to btc IMO

[Finchy]

People need to remember bitcoin is still an experiment/experimental really. It was created to solve the problems of current money and it does, but that doesn't mean it is currently perfect and whether it will truly succeed as a useable currency.

[RodeoX]

Mo money, mo problems. So I guess it does create problems. 

[Lorence.xD]

Everyone draws conclusions based on their situations.

This is particularly true, in my opinion, bitcoin helped me more because I found a way to earn while in quarantine, maybe with all the bad news associated with bitcoin, we can't the good thing that if offers, the scammers will always be there and there will be problems but this could be solved if we help in shouldering the burden.

[fullhdpixel]

First of all, the way I see Bitcoin it’s not something that everyone must use. No one is really forcing anybody into it, if you want to make use of it it’s up to you. As for being volatile, that’s not a problem, it’s an asset that we are all investing in and the price is meant to fluctuate. You’re already being told that you shouldn’t invest in Bitcoin or any other volatile crypto asset what you can’t afford to risk, so this one is no longer a problem.

As for your second problem, I don’t see what’s difficult in obtaining Bitcoin, you can make use of legit exchanges to buy Bitcoin, we have Binance, Coinbase, and even BitPay, Luno, and Blockchain wallet, they all now allow users to buy Bitcoin. That one is not even problem. Then number three, I don’t see how you’re sending to a wrong address when what you do is to copy the address and click send. Most of the things you have stated is not a problem for many people.

[Chris Barth]

6. there are already plenty of ways to send money online a lot easier, it doesnt really do anything new

Really? So, how many of these plenty ways allows users to send any amount of money shortly? With bitcoin sending money doesn't need all this documents verification(KYC), high transaction fee, long protocols, etc. ¯\_(ツ)_/¯

[Emmychris]

Well for me I would say bitcoin has actually helped solved many problem than it creates.
 For example the problem of joblessness in some countries were much because of lack of companies, but citizens who embraced bitcoin will eventually become self employed because there work and get paid in crypto and the rate of unemployment and joblessness will be reduced because citizens has found something doing which could even pay them much more than what most companies offers.

[kezinaur14]

good things:
1. cheap way to send money
2. only 21 mil ever in circulation

So why should more people start using btc?  It seems the cons outweigh the pros.

You forgot a few.

good things:
3. control of your own money (no need to trust an institution)
4. enables business to reach larger market
5. enables individuals various legal ways to earn
6. enables to donate directly to the people in need, as opposed to intermediary thieves in charity organisations
7. enables you to send money to friends online
8. improves technology economy (people buy lots of hardware equipment)
9. many fun projects
10. proof that decentralized systems can and do work

Whoah, not sure you'll actually read this, as this is a very old post. But LOTEO man, these guys scammed me and many others good, are they even still around?

As of 2020 most of the points in the OP are very outdated anyway, so I wont bother answering that. I'll actually send you a DM about this, want to catch up with people still dealing with Loteo

Well for me I would say bitcoin has actually helped solved many problem than it creates.
 For example the problem of joblessness in some countries were much because of lack of companies, but citizens who embraced bitcoin will eventually become self employed because there work and get paid in crypto and the rate of unemployment and joblessness will be reduced because citizens has found something doing which could even pay them much more than what most companies offers.

Why create an account to seemingly just bump such an old post?

[Sadlife]

Problems with btc:
1. wild, unstable exchange rate
2. difficulty to obtain and use (for most people)
3. getting coins hacked or lost by sending to wrong address
4. fraud/theft at exchanges (if it happened at Gox it could happen anywhere)
5. it enables criminals to get paid online
6. there are already plenty of ways to send money online a lot easier, it doesnt really do anything new
7. absolutely no buyer protection
8. scam companies/scammers
feel free to add to this list ^^

The first is not really entirely correct, i mean look at the stocks it has been in wild swings and currently about to dump, probably the worst.

2nd i dont see difficulty in obtaining it, there already a lot of Online Wallets and BTC ATM's that support it.

it seems to me that you've just spouted things you haven't fully researched on and only based your statements in heresay.