Post
Topic
Board Bitcoin Discussion
Re: Can the following problems be solved?
by
Slugmonkey
on 20/04/2018, 16:41:38 UTC
Can the following problems be solved?

- Bitcoin is not based on "underlying" for the transaction, the risk is high.
- Bitcoin is very close to the possibility of money laundering and terrorism financing.
- Bitcoin has no "best practice" and international standards to ensure the security and efficiency of the organization.
- Bitcoin has no central entity as the subject of arrangement, no party is responsible.
- Bitcoin price is determined by the market depending on supply and demand
- In Bitcoin there is no consumer protection.

- Bitcoin is not based on "underlying" for the transaction, the risk is high. - This is not true

- Bitcoin is very close to the possibility of money laundering and terrorism financing. - No doubt this is true, but even for money laundering to happen, you first need a transaction from bank account into the exchange and that can be tracked by government.

- Bitcoin has no "best practice" and international standards to ensure the security and efficiency of the organization. - Haven't you seen already how efficient the transactions are? The answer is self explanatory

- Bitcoin has no central entity as the subject of arrangement, no party is responsible. - Yes, the anonymity is what makes it unique

- Bitcoin price is determined by the market depending on supply and demand - Yes. Is not that true for every stock out there?

- In Bitcoin there is no consumer protection. - The user has to be cautious with the security of his wallet. So this market is definitely not for idiots.