Re: Why Bitcoin is not that good as currency?

The point here is:
1. We all are pretty aware why Bitcoin was created in the first place. Atleast the person who said this hasn't exactly said this but the advocates of Cryptocurrencies the old forum users say that it is here to replace the current financial system
2. I personally feel that blockchain technology is something revolutionary and so is bitcoin but bitcoin has it's own limitations which i mentioned above.
3. Due to these limitations government would not advocate Cryptocurrencies in long term so they can't go hand in hand. So what I am trying say is exactly that bitcoin's survival as currency is really difficult in such circumstances.

1. It's really a matter of opinion, but the fact of the matter is, Bitcoin was created to be a decentralized peer-to-peer electronic cash system. The white paper did not attack the current financial system in any way, except maybe by saying that middlemen can be slow and charge fees. It did not mention national currencies at all.
2. No arguments there.
3. Bitcoin doesn't really need governments' advocacy, as shown by its growth from basically nothing. If you're talking about regulations, countries which haven't banned Bitcoin far outnumber countries that did; sure that could change in the future, but I don't think I've seen any developments to signal that Bitcoin's survival might be in question.

Well unfortunately I think it can be a question towards survival if you don't want to Bitcoin to be the next cocaine or Weed. China & India two highly populated countries have put restrictions upon its usage. If we see more countries following the same track I don't think how are you saying that Bitcoin Survival is at question. I hope you are just a normal middle class law abiding citizen of your country lik everyone of us. Would you to use Bitcoin if it's usage in your country is banned or is penalized?

If Bitcoin would be banned in a certain country, it would be impossible to cash it out, finding a way of using cryptocurrency is easy, you can use vpn or any tool to change your IP address, but it will be useless if you cant use it to fund yourself or even use it to save for your own investment. If ever that you have been accused or seen using something that is prohibited, you have to face the consequences.

This implicates that it wouldn't be possible for Bitcoin to exist with restrictions imposed upon it. If most of the countries of the world come up with regulations No VPN or change of IP address would be at help because regulators too would be much stringent about it's usage and all it would become is a currency which can only be used in the transactions relating to Dark Web and not the real world. Why would any government allow it's citizen to launder their money into Crypto to evade taxes.