Post
Topic
Board Bitcoin Discussion
Topic OP
Bitcoin should come with clear warning labels
by
bootlace
on 04/12/2013, 14:47:56 UTC
The latest attempt at trying to trick the masses into buying BTC by switching the units to mBTC reminded me of something: Bitcoin PR is pretty full of shit with the assertions it makes and as a result, the popular opinion around it. Bitcoin should have warning labels similar to cigarette packs - clearly visible on any exchange for first time 'investors':

1)   WARNING: Purchasing bitcoins may allow government agencies to track your every spending
2)   WARNING: Your money/BTC  in exchanges can easily be stolen or frozen or hacked or not be withdrawable
3)   WARNING: BTC is certainly not government-proof and can be severely hampered if wanted
4)   WARNING: Bitcoin has no patents around its technology and clones can be created instantly and at no cost – the network effect primarily is what gives it a higher valuation
5)   WARNING:An altcoin might gain prominence and severely impact Bitcoin value
6)   WARNING: A better cryptocurrency is probably in the process of being created
7)   WARNING: Your entire BTC wealth might be eradicated in case of computer problems or user error
Cool   WARNING: You are highly likely to be scammed at some point using bitcoins in cyberspace and nothing can be done about it
9)   WARNING: Too large of Blockchain size/large mining pools can wreck Bitcoin integrity, quantum computers could jeopardize Bitcoin security
10)   WARNING: No one knows what a bitcoin is worth and its price is purely being driven by Ponzi-natured speculation