Every good thing has side effects, I believed bitcoin ha play roles of changing lives and improving digital structural economy. But bitcoin also has negative damnation on lives by impoverishing people of their spare resource and income. Today I want point out some negative impact of bitcoin on societies such as:
1. Bitcoin is not easily understood by people with no knowledge of it, at such scam and fraud is high on them.
2. No refund to anyone who incurs loss through keys, seed phase or fraud.
3. Privacy- bad people trying to give bitcoin bad name by faking bitcoin apps and site.
4. Cyber hacking - cyber wizards an fraudsters makes people to loss bitcoin wallets and money.
5. Price vitalities - bitcoin price is unpredictable and nobody as monopoly of the market.
Scammers are everywhere and they're not just taking advantage of bitcoin but also even in the use of fiat, they can be found.
While someone who's enthusiastic about bitcoin don't see bitcoin's volatility is a negative thing to be considered. It is for sure that newbies will think of when you say that it doesn't have a stable price but instead it has got a variance on its price.
Instead of them to try figuring out what Bitcoin is all about, they hope for it to fail.
These are people that knows nothing but want people to see on their misfortune. As a Bitcoin investor, we don't intend to see non-bitcoin investors miss these opportunities.
But them to expect bitcoin to fail, these minds are nothing but crab mentality.