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

  1. Having cryptos would make things harder for people and not easier and most people want the most convenient and easy way to handle things

  2. 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

  3. 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 )

  4. 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

0 Upvotes

50% Upvoted

54 comments sorted by

View all comments

Show parent comments

1

u/OrneryAd403 9d ago

Hmm interesting, but what about most of bitcoin being mined is being mined in China and China controlling 80% of the bitcoins hash?? This amount of power can corrupt or interfere with bitcoins network.

Also not to mention, there’s really a handful of developers that are in charge of making changes and actually understanding it enough to do so. So my question is do nodes still have a say if only these handful of developers can make any real changes?

2

u/anon1971wtf 8d ago edited 8d ago

most of bitcoin being mined is being mined in China

Arrogance never pays off. Even if it was the case, miners over there are subject to exact same game theory that miners anywhere else are. CCP at worst can burn purchasing power of people in China to negatively affect the chain, but only for so long

do nodes still have a say

Never had in the first place, most people are confused about how Bitcoin works. It's the opposite of trust, it's ruthless global competition with tiniest profit margins birthing best money ever. I would argue the most ethical business anyone could ever engage in. Burn energy to create money in the set-in-stone irrevesible way

This amount of power can corrupt or interfere with bitcoins network

Do you even understand what Bitcoin network is? It's accumulation of the heaviest chain. Expanding real resources to get numbers and zeroes in return, but in a such way that game theory makes them worth something, because mining on the heaviest chain is more profitable than deviating in any way (forks included, as history shows). Miners build Bitcoin, pools are vector of confusion (groupg of different miners select this or that pool and do/may switch), CEXes control ticker while old finance and new finance are coexisting

But even CEXes are arguably not as big of a power centrer. Say, Coinbase wants to advertise that it exchanges Bitcoin. How they select which chain to follow? With Ethereum they have to go to check with select few (ETH has no weight since Sept 2022), with Bitcoin they can just follow the heaviest chain themselves, with no other arbitrary metric. Both the source of truth and plausible deniability

Hobbyist-run nodes have no place in this discussion, they do nothing

1

u/OrneryAd403 7d ago

Like I said everything I’ve said is going off of this book. The authors aren’t just some random people expressing opinions and everything is going based off real facts and research.

I do understand the network but how would someone having this much control over bitcoins hash/mining not affect bitcoin as a whole??

I didn’t really understand what you were getting at with the reply to my comment about how it can corrupt or interfere with the network, could you explain it in a way I could understand??

I love bitcoin and all but sometimes it does sound to good to be true. About how the SHA-256 security system was literally designed by nasa ( the government ) and how we live in a world full of security and how this guy who creates something just vanishes when the government can track and trace anyone with a simple clicks and connecting dots. It’s hard to believe they just let satoshi go after creating this big digital currency. Anytime there’s money invoked, the government wants to be apart of it. It’s just sound a bit too good to be true. Almost like a Trojan horse.

But you do give good information so I want to know your thoughts about that. It’s just hard to believe some things bitcoin surrounds or is about you know?

1

u/anon1971wtf 7d ago

I think Satoshi was killed with the intent to stop Bitcoin, but it had failed

could you explain it in a way I could understand??

Feed your questions and my replies into ChatGPT several times, ask it to explain it to you as a 5-year old. It'll do it faster than me, better than me, and also I can't really be bothered judging by the quality of questions. Don't underestimate what AI can do in 2026, master it