Is Bitcoin safe?

in #bitcoin7 years ago (edited)

I am going to talk about 4 points of Bitcoins naysayers in this post

  • Bitcoin is being used to advance a cashless society

  • Bitcoin is reliant on the power grid

  • Bitcoin requires the internet and is reliant on the internet providers not wanting Bitcoin to be gone ( I am not sure what the interests of the internet providers are )

  • you can not buy things unless the seller wants bitcoins

I wanted to talk about the first argument in detail. Paper dollars might be good for illegal but not immoral transactions, but the dollar IS used for the benefit of the state, as it is regulated by the "federal" reserve. As long as Bitcoin can not be tracked or endangered, I say that Bitcoin is not something trying to advance a cashless society

  • Bitcoin is reliant in the power grid
    I think that there isn't a 100 percent chance that a power grid collaspe would happen, so it is not guaranteed that all the Bitcoins would dissapears from people's accounts, if a power grid collapse did happen we would probably all die, so all the Bitcoins dissapearing would be the least of our worries

  • Now if the internet crashes, all of the Bitcoins people hold (as well as the electronic money people have) would be gone, and I think this might be a problem of Bitcoin. With the internet providers I think Bitcoin would survive one of two ways. either - it is not in the internet providers best interest to get rid of Bitcoin or - the Bitcoin users make it impossible for the internet providers to track bitcoin

-you can not buy things unless the seller wants bitcoins
I think that this is the biggest blockage for Bitcoin to face, if I go to a farmers market they would most likely want dollars.

I really would like the pro freedom bitcoin movement to think about these I am not pro Bitcoin or a Bitcoin naysayers so please do not get angry with me.

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