Three years ago or two years ago, if you asked me what Bitcoin is, Id tell you it is the future of money. It is managed by the network, not by the government. Plus, it is private, anonymous and fast. Its just perfect!
And Bitcoin is proved very successful. But it has inherent risks like anonymity, hacking，51%attack, double spending. Stop imagining bitcoin is perfect. No coins are perfect. Id say bitcoin means more about possibilities, possibilities of expression of value. Before, Ive been taken it for granted that the government should control currencies. But now Id like to take a moment to think of the question:
What is the nature and origin of money?
You're right! i embraced bitcoin for the first time in the beginning of 2013 i thought that it was the "future" "private" "simplest" and "faster'' payment method well all three are doing well but the last i mean the "faster" idk if it's just me or..? that bitcoin transaction is very slow for normal transaction you must wait 10-30 minutes to get confirmed, i know that if you want to decrease the time you must increase the fee but it's not simple anymore if we must check and estimate which fee should we use to get fast transaction. Maybe this is the only reason why i don't like bitcoin, while others I'm very satisfied.
There is still a problem with bitcoin where blocksize can't be upgraded and still using the size of 1 mb for each transaction, this becomes a complicated problem if the transaction ballooned in one time and will result in pending in long term. I am not so sure that people always boast of anonymity because the world government puts more emphasis on financial transparency and self data, this is a reverse current for bitcoin so until now the American government doesn't regard it as legal tender.