I dont like BitCoin for these reasons:
1. The whole idea that someone can turn on his computer/GPU and "
bit mine" and earn money is ridiculous.
People should earn money when they work hard for it. Turning on a computer and leaving it to run does not and should not count.
This is a waste of electricity as well and therefore it causes greenhouse gases and has a
carbon footprint.1a. Then I guess when farmers use automated network controlled tractors and etc to harvest their crops, that isn't work either and isn't really "proper crop".
1b. When a single volcano erupts on earth, it throws off more green house gases into the atmosphere then a few decades of human civilization.
A Volcano is a larger threat to the ozone layer then Bitcoin is and there is one going off every few minutes.
2. One would think they came up with a new currency system so theft could be prevented. No,
BC gets stolen all the time.
Why couldn't they "disable" the serial numbers of the currency that was stolen? Thats the kind of system that should have been designed.
2. Disabling "stolen" bitcoins makes no sense. Who is to say what is stolen or not? Who is the decider in a decentralized system?
3. BC is unstable. People lost a lot of money (
one tiny example; there are probably hundreds and thousands) and they did nothing wrong. A good modern currency should not have this defect.
....
3. Bitcoin currently is not a currency, it is an asset, and currently acts as an asset. As time goes on, and with stabilization, it will be a proper currency.
Edit: corrected grammar errors