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.
You list the negative aspects of bitcoin. Do you think that cash, bank accounts, the stock market or other financial instruments have no disadvantages? Everywhere has its downsides.
Cash, for example, can also be stolen from you, it is subject to strong inflation, paper banknotes burn very well and so on and so forth. But the world doesn't stop using it, right?
I'll add some of my comments:
1. Moreover,bitcoin is not convenient for use by ordinary average people.
2. Bitcoin doesn't forgive mistakes of its users. Wrong amount or recipient address - your funds are lost forever. The need to ensure safe and secure storage of seed phrases.
3. Pseudo-anonymity and permanent preservation of the entire history of transactions in the public domain.
4. Almost the same as the 2nd paragraph. The need to take on the role of a security guard and be your own bank for yourself.
5. Non-constancy of bitcoin price and unpredictability of changes.
Despite these shortcomings (and not only) bitcoin still continues to be an excellent digital money and investment tool. This is the case when the positive aspects more than compensate for the negative ones, which can be neglected under certain conditions (that is, subject to certain actions).