First of all, nothing has any real value without being physical. Bitcoin is entirely digital so it has no real lasting power. So of course it's just a frivolous fad that can't really be money any more than in-game currency. Everybody knows that.
Another argument I've heard is that since most of the entire supply has been bought for cheap and the price has gone up so much for the amount remaining it's not really fair for those who weren't able to start early so it should all be abolished. It's just too much of an exclusive club at this point. It's just no good.
Also it's used for scams all the time. Do we really want to be using a digital currency that scammers love? Criminals have never been able to use fiat currencies for their scamming and crime because of the inherent goodness of dollars and pesos and whatnot. Bitcoin's too evil. Can't have that.
Have you heard of any other really solid arguments against Bitcoin? If so please add them in the comments. And thank you for reading my sarcastic rant. I'm still in the process of learning to just keep my mouth shut about Bitcoin and just stack. Cheers.
We all know why it's important to buy Bitcoin. How about listing your reasons why NOT to buy Bitcoin? I'll go first.
byu/TerminatedPotato inBitcoin
Posted by TerminatedPotato
10 Comments
The one true argument, shitcoins are ruining crypto in general.
It’s going to zero.
“It’s not really fair” and “nothing has any real value without being physical” tell me everything I need to know. Stick to the dollar little boy
The best reason is not to buy BTC because fiat is accepted everywhere and banks can hold it for me, also governments can print more and we will have limitless supply for ever.
The best argument is in my opinion: A lot of people are not to be trusted with their own security.
None of these are “solid arguments”.
People keep talking about it in $ value. Why?
I would think that the ledger being accessible to everyone actually decreases the ability for criminals to utilize it as it would be harder to launder but I don’t know. Back in the day they used it because no one really knew about it, now that it’s become more mainstream I would think it would end up making it a safer currency than going through the many chains of middle men like we have today. I also hear these arguments, especially the non physical one all the time but I think it is erroneous as most currency is already digital. The only difference being that one inherently resistant to inflation which to me automatically gets my vote. It will click to the rest of the world eventually.
Bitcoins value is in its anonymity. It was originally used on the silk road for illegal and nefarious purposes the people didnt want a direct link leading to them so they used Bitcoin. Bitcoin will always be around and I see it going up to a million over time. Its extremely difficult to regulate. The reason think twice about Bitcoin is its supposed to be a hedge against inflation and do well in recessions but everytime theres a crash Bitcoin comes tumbling down as well. It’s lost half its market cap in just a few months because whales are panicking about the world and economy. Its insane. Thats why I ladder in and out. I dont trust it that much
Gotta pay medial bills, make the rent, otherwise avoid going into debt