Quote from: mpfrank on December 04, 2013, 03:07:20 PM

Quote from: bootlace on December 04, 2013, 02:47:56 PM

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

How about some warnings about the U.S. dollar:

1.) WARNING: Your dollar has a serial number which can be used to track marked bills.
2.) WARNING: Your money in exchanges, banks, annuities, etc. could be stolen or hacked or not easily withdrawable.
3.) WARNING: The U.S. dollar is not government-proof and could be easily debased by the government. It is not backed by anything.
4.) WARNING: The concept of fiat sovereign currency is not protected by any non-expired patents and can be easily imitated by any third-world banana republic.
5.) WARNING: A developing country's currency might gain prominence and severely impact the U.S. dollar's value.
6.) WARNING: A better currency has already been developed (namely, Bitcoin).
7.) WARNING: Your entire retirement savings might be eradicated in case of bank error, user error (you forget where you put it), your company going bankrupt and defaulting on its pension fund, or politicians changing the terms of your social security program.
8.) WARNING: You are highly likely to be scammed at some point using U.S. dollars in cyberspace or meatspace and often there is nothing that can be done about it.
9.) WARNING: Too-big-to-fail banks and central banks can compromise the financial system's integrity, lead to financial crises and bailouts. Quantum computers could crack systems used to secure legacy financial networks.
10.) WARNING: No one knows what the U.S. dollar is really worth since it is no longer backed by gold or anything else tangible and its price is purely being driven by Ponzi-natured speculation on the sustainability of the traditional financial/political system.

Cheesy

These would indeed be good warnings for anyone not aware of what the dollar is about and is interested to invest in them. Bitcoin is a new/obscure technology so it needs the disclaimers even more than a 3 decade old worthless fiat currency.