Post
Topic
Board Bitcoin Discussion
Topic OP
What I like..and don't like...about Bitcoin.
by
vn10vn
on 22/05/2014, 21:27:33 UTC
I will say what I don't like first. I don't like the hype that it's going to equalize wealth in the world because I know that will never happen.
I don't like political motivations for it.
I don't like the fees to fund an account with fiat and withdraw.
And I don't like that it's not as safe/secure from hacking as it could be, and you can wake up one morning and your life savings is gone.

What I like about Bitcoin:
I like the way you can instantly send money to anyone, anywhere and check the transaction in the blockchain.
I like the thought of paying for everything in bitcoin, so I dont need to carry a wallet with cash and credit cards, debit cards, etc everywhere and also my phone. I can just carry my phone. One thing, and do anything with it.
I like that I can spend and make money without it being monitored by people in power who are corrupt and only want to take money from me which I earned simply because they are in power and it is a tradition for people in power to take money from people who are not.
I like the novelty of it.

When it comes down to it, you are dreaming if you think digital currency is going to replace banks anytime soon. Banks have been around for centuries securing money and they do it well. And I think no one in this forum can argue that they would feel safer storing dollars in a bank than bitcoins in awallet. That's the biggest weak point for digital currency. Overcome the risk factor, and I think you will have no more resistance from critics.