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What are the best arguments against bitcoin?

22 sats \ 8 comments \ @ek 9 Oct 2022 bitcoin

I always try to seek out arguments against bitcoin to find holes in my understanding of it and what large scale adoption (think USA making bitcoin legal tender like El Salvador) would mean for the world.

Also, it helps to know what opponents care about and how one can respond to such arguments in a reasonable manner (no "hfsp" or "ngmi" or the likes).

Further, I don't want this site to become a circle jerk where we all jerk each other off because we know more about bitcoin then the majority of people but don't actually care about all the implications.

So let me hear: what are the arguments against bitcoin which are the most reasonable and hardest to counter? Where we would maybe even agree, that this is indeed a problem and we still have to find a solution?

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5 sats \ 1 reply \ @DarthCoin 9 Oct 2022

https://nocoinerexcuse.com/ https://endthefud.org/ https://en.bitcoin.it/wiki/Myths

0 sats \ 0 replies \ @F 9 Oct 2022

What's the safest way to ski?

Don't ski.

2 sats \ 0 replies \ @F 9 Oct 2022

Too complicated, not user-friendly. Daunting at first, intimidating.

2 sats \ 1 reply \ @RoundaboutStacker 9 Oct 2022

I like fiat

0 sats \ 0 replies \ @0322ee777777 9 Oct 2022

Fiat is still easier to turn into food for now.

0 sats \ 0 replies \ @cryptocoin 10 Oct 2022

dEFlatiONarY sPiRAL

0 sats \ 0 replies \ @Lumor 9 Oct 2022

Chinese long game

Chinese miners have accumulated so much BTC over so many years. Around 70% of block rewards since ASICs arrived until 2021. They now own the vast majority of the 21m. Some has been used to exit the country but Chinese people are overall loyal and proud of their kin, country and the CCP.

As geopolitics get more chaotic, the CCP are just waiting for the west to abandon fiat for BTC. When we are the most exposed, they will start manipulating the BTC markets, tossing us around like midgets, throwing our economies that we thought were finally saved into the toilet.

I meant to put this into a short near-future novel but will never get around to it so enjoy.

0 sats \ 0 replies \ @2bithits 9 Oct 2022

https://joekelly100.medium.com/how-to-kill-bitcoin-part-1-is-bitcoin-unstoppable-code-7a1b366f65ee

This guy has written a bunch of articles about how to kill bitcoin. He's pretty much the ONLY guy I've seen who understands a lot about bitcoin & thinks its NGMI