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
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
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
WARNING: You are highly likely to be scammed at some point using bitcoins in cyberspace and nothing can be done about it9) 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
1) Bitcoin is harder to track than credit cards and bank transactions. (and possibly even paper money)
2) Bank accounts can be frozen more easily than bitcoins can be stolen (ask cyprus). As long as you are secure with your private key, noone can steal a satoshi.
3) government can't do anything against bitcoin
4) really?
5) unlikely and it's basically the same as 4
6) if that's the case, you'll see it coming long before bitcoin will crash. also, it's the same as point 4.
7) user error maybe, if you're batshit crazy. computer error, no, not if you have cold storage.
noone will help you when you get scammed for dollars either.9) by the time quantum computers would jeopardize bitcoin security, they would have already hacked credit cards and banks, as they are less secure, and also bitcoin would have already switched to a new, more secure protocol by then. (ASICs will become worthless than untill the new generation of Quantum ASICs gets developed, at which point the difficulty will become several yottahashes or even more.)
10) if you're using bitcoin purely as a currency, the price doesn't matter much, just like you don't care about the dollar to euro exchange rate.