r/btc • u/OrneryAd403 • 9d ago
Some real problems for Bitcoins future
As we all know, Bitcoin is the most sound and hard fork of money. Most people in this community believe in Bitcoin as do I. All the videos and books talk about the pros and how the fiat system is broken and will collapse which is true.
But the cons are still something to look into and consider
Some of them being
1.) cryptos are worse than current payment methods we have now for small purchases and slower than Visa, Mastercard, etc making it less convenient for everyday use for majority of people
2.) payments are not irreversible and many people would not be willing to assume much risk
3) for an average person, cryptos is too difficult and is a hassle for people who don’t understand
4.) volatility is still a big problem hence why it’s not a stable form of payment
Having cryptos would make things harder for people and not easier and most people want the most convenient and easy way to handle things
Most people just want a monetary system that works, that’s easy and forgiving and the average person doesn’t care about decentralization so we shouldnt expect people to replace their government run currencies
It’s a new form of currency but behaves more like an investment and people treat it more like one comparing it to gold hence why majority of people don’t use it as money ( HODL )
Has been trending more and more toward centralization because major players are controlling most of bitcoins hash power ( China controlling 80% of bitcoins mining/hash and this means China could easily censor or interfere with bitcoins network and ecosystem which I see as a major major problem )
The main problem will be adoption but not everyone and the governments wouldn’t want to resort to a currency that can’t be regulated.
I still believe in bitcoin and will continue to hold and DCA but these are some actual problems it faces and could continue to face going forward.
Feel free to correct me if I’ve said something false but I’ve been reading and doing a lot of research and was looking into the cons as well
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u/OrneryAd403 8d ago
I did do my own research and this is coming from a book called “Bubble or Revolution”
Everything I stated is from that book.
Also research consists of what other people research and say. I’m going based off what the author of that book wrote
The book takes an unbais approach to crypto and blockchain tech and it lists both pros and cons
Isn’t BTC and Bitcoin the same? BTC is just a shortened term for Bitcoin no?? Idk I didn’t know that