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.
All of those points are either not exclusive to bitcoin or a misunderstanding on your part.
1. You do not really need to now how your car works in order to drive it, as long as people read a few articles they will learn how to secure their coins properly in minutes, also the number of scams and frauds is much higher with cash and credit cards.
2. You do not get refunds either when you lose the cash in your wallet.
3. Governments will do anything to give a bad name to bitcoin.
4. Again, the same is true with fiat.
5. At least the price of bitcoin can go up, while with fiat your wealth only goes down.