- Ponzi Scheme
- Fake internet money
Anything else? 😆
680 sats \ 0 replies \ @nullcount 25 Oct 2023
- I dont understand how it works, therefore I am too scared to learn about it
- I understand everything because I did 10-hours of research, therefore I don't need to know anything more
- My fiat banks aren't censoring me. My money is insured. My portfolio of index funds and bonds is safe. I don't need the risk.
- We need the Fed to adjust rates and print money to maintain stability. Covid would have been much worse without the fed's soft landing.
- Is not scarce if there are 10k copycats
- Is not secure if MtGoX, FTX, Celcius can lose it
- what about all the coins that were lost? No way I can trust myself to guard 12 words.
- I need a phone number to call so I can clawback a mistaken transaction
- I can't buy a house with noKYC
- its used in crimes and scams
- my bank says I shouldn't use it
- Who is Satoshi? I don't trust him, seems shady.
- Who are these devs that control it? Seems shady.
- what happens when they change the code to take all your money?
- It uses too much electricity
- bitcoin is dirty, wasteful
- I don't like the idea of bribing miners so my payment gets processed. My bank has a transparent fee
- Needs more inflation to encourage spending
- too slow, not private for medium of exchange
- too volatile to work as a store of value
- its too expensive. I cant afford to buy a single coin
- bitcoin can't do X that Y crypto does therefore it will fail
- governments will not allow it to be used as unit of account
- people with gains on their BTC got lucky
- bitcoin is just like all the cryptos, but its already obsolete
- what if I buy the wrong Bitcoin?
- what if it forks again, how can I know which is the real BTC?
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245 sats \ 2 replies \ @CryptominerGMI 25 Oct 2023
While listening to a Twitter Spaces recently I heard a TradFi person claim it is private money, and all historical attempts at private money have failed.
This was the first time I've heard that argument against Bitcoin.
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131 sats \ 0 replies \ @nerd2ninja 25 Oct 2023
It makes a man just want to:
When they say private money, what they mean is private banking institution issued currency, sometimes community currencies, or company scrip
What they DONT mean is Shell money, Rai stones, Glass beads, or any other organically forming socially constructed money and that is exactly what Bitcoin is and what shitcoins are not, because shitcoins very much are private monies, but the misinformation that has caused their deep association has caused this type of confusion.
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75 sats \ 0 replies \ @franzap 26 Oct 2023
How can something completely open, transparent and not controlled by any entity be considered private? Do these people even have a brain?
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103 sats \ 5 replies \ @nerd2ninja 25 Oct 2023
We need a "Shit shitcoiners say about Bitcoin" thread too
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70 sats \ 2 replies \ @birdeye21 25 Oct 2023
nO uTiLiTy
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71 sats \ 1 reply \ @Natalia 25 Oct 2023
what can shitcoiners buy besides the stupid NFT with their shitcoins? 🤣
me: just paid Bitcoin for my food!
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50 sats \ 0 replies \ @birdeye21 26 Oct 2023
Fiat brain sees anything you can’t rent seek with as useless
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50 sats \ 0 replies \ @harrr 25 Oct 2023
- slow blocks
- small blocks
- no smart contracts
- no tokens
- no privacy
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50 sats \ 0 replies \ @brianh 25 Oct 2023
"it's too expensive, I need to find the next big thing to buy a large bag of"
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20 sats \ 0 replies \ @designsats 25 Oct 2023
- Its too volatile (ignore the volatility of fiat supply)
- its too expansive (ignoreing internation wire fees and card fees)
- its used for crime (ignorig USD is most used criminal money)
- its not physical (ignoring virtual fiat)
- doesnt work without internet (ignroing fiat, internet-connected ATMs)
- limit can be changed (ignoring the fact it makes no economic sense)
- governments gonna ban it (some did, yet its still used there)
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10 sats \ 0 replies \ @gabybaby 25 Oct 2023
"it's not backed by anything"
"but it doesn't have any yield or a dividend!"
"why should I buy it compared to the other 20,000 cryptos?"
"it's too volatile, I need something more stable like bonds or a CD"
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131 sats \ 1 reply \ @DarthCoin 25 Oct 2023
full list here https://endthefud.org/
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0 sats \ 0 replies \ @aoeu 25 Oct 2023
Thanks Darth! Hadn't seen this page yet.
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10 sats \ 0 replies \ @lvurz OP 25 Oct 2023
It has no real value
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110 sats \ 0 replies \ @SATsStandard 26 Oct 2023
Bitcoin is
- Bubble
- Dead
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0 sats \ 0 replies \ @franzap 26 Oct 2023
No smart contracts (although this probably comes more from shitcoiners)
Mute point now with BitVM
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0 sats \ 0 replies \ @343pg 26 Oct 2023
The one I hear most often (from generally otherwise intelligent people who have a very basic understanding of how Bitcoin works) is that..
it has no intrinsic value
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0 sats \ 0 replies \ @DiracDelta 25 Oct 2023
"Where shall we have lunch?"
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0 sats \ 0 replies \ @Ge 25 Oct 2023
If you guys just concentrate on bitcoin you can miss so many opportunities like defi, deso, etc. 🫠🫠🫠🫠💀
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0 sats \ 0 replies \ @Bullen 25 Oct 2023
- doesn't solve a problem
- Wastes a country's worth of electricity
- it's just a scam
- you need inflation otherwise economy stops
- has no intrinsic value
- The scarcity is faked and doesnt mean anything
- its just 7 transactions per second, VISA has much more
- nobody uses it
- too volatile. it can lose it's value in a second
- only used by criminals and to buy drugs
- Look at ftx!? It's just a scam
Probably more from all my discussions with friends, but... These are the one I remember now.
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0 sats \ 0 replies \ @TheBTCManual 25 Oct 2023
It's too expensive is what I'm hearing once again after people had an entire year to buy it at half price but okay
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0 sats \ 0 replies \ @southside263 25 Oct 2023
Scam. Only used by criminals. boiling oceans.
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0 sats \ 0 replies \ @Zepasta 25 Oct 2023
They just flat out call you conspiracy teorist or gambler. Some people are beyond saving.
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0 sats \ 0 replies \ @2bithits 25 Oct 2023
When will you sell?
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0 sats \ 0 replies \ @kenn_b 25 Oct 2023
it is not tangible, just code
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