r/btc • u/OrneryAd403 • 3d 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/Select-Schedule-1155 3d ago
The mining centralization point is the one that gets glossed over way too much. Everyone talks about decentralization like it's a given but when one country can theoretically mess with the whole network it kinda defeats the purpose
The rest feels like growing pains though. Lightning network and other L2s are slowly fixing the payment speed thing and volatility tends to calm down as markets mature. Not saying it's all solved, just that these aren't permanent roadblocks
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u/DangerHighVoltage111 2d ago
Lightning network and other L2s are slowly fixing the payment speed
They don't. In fact even Maxis admit LN failed. You can't build a reliable L2 on a crippled L1.
I agree on the mining centralization point. Since BTC expelled everyone who was not a NgU fanatic no one in that community even cares about fundamentals anymore unfortunately.
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u/OrneryAd403 3d ago
All of what you said is true, but as far as adoption.
I can’t see a future where majority of people use bitcoin as a monetary system. Remember us, who understand bitcoin, it’s easy for us to use and understand but the average person doesn’t give a fuck.
A lot of people are financially illiterate. These people will not adopt to it willingly and don’t care about the whole decentralization and having full ownership of their own finances. When talking about adoption, you have to see and think in a way “will the average person do this?” And most of the time it’s going to be a no.
It’s slower, less convenient and a hassle. The pros are very good and promising but the cons are just as important.
Btw I just bought more bitcoin after I posted this thread.
This was made because I wanted to see the insights of other people and seeing what they think
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u/anon1971wtf 2d ago edited 2d ago
It's hilarious to me that exact reverse is true - Bitcoin is the most decentralized today then it has ever been
- Because mining machines are most efficient
- Because they are distributed closest to the global capital
- ~1.2k equivalent days of Proof-of-Work
From one inefficient machine of one man disconnected from world capital with cheap-to-rewrite chain - to heavy global industry of extremely efficient machines owned by all kinds of people, that pop out everywhere people with capital need energy monetized, with basically immutable chain
Don't be distracted by pools charts, if a pool would misbehave and endanger bottom line of client miners, they will switch away. Not necessarily immidiately and all at once, but game theory makes it inevitable. Bitcoin works because just mining (and saving a bit) it is more profitable than attacking it in any way
when one country can theoretically mess with the whole network it kinda defeats the purpose
No such realistic scenario exists. I was expecting national pools already (forcing miners within jurisdictions to mine with govt especially outside the West), but even that - all big nations are too toothless to go for, fortunately. Later they will have even less proportional purchasing power to pay men with guns for this kind of aggressions
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u/OrneryAd403 2d 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?
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u/anon1971wtf 1d ago edited 1d 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
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u/OrneryAd403 1d 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?
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u/anon1971wtf 1d 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
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u/PresentGuard4707 Redditor for less than 30 days 2d ago
Don't forget to add the headache of dealing with capital gains taxes, every purchase. And the added security risks. It's extra time and effort. A lot of reasons it's currently not gaining mass adoption as a payment mechanism. It's more a niche case thing, as it stands.
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u/OrneryAd403 2d ago
Only time will tell where it’s tragectory is headed but besides it being a currency, it is a good investment that will continue to appreciate due to the scarcity and halving and mining.
Some people do use it as a currency but those are the people who got in early to use their profits. Most people don’t use it and rather hold it
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u/oneenigma4u 2d ago
You don't go into a Convenience store and buy a cup of coffee with your share or Berkshire hathaway , do you. Bitcoin is a store of value. I know there are people out there who are going to cry out that they bought in at a 120 now.It's only worth eighty How is that a store of value. It's a store of value in the long run , not short term swings of year or two years. Anybody who bought in more than two years ago is up money right now. And the further back you go , the more money you are up.
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u/buffotinve 2d ago
Parte de una premisa falsa luego todo lo demás deja de tener sentido. No es una moneda ni nunca lo será
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u/DrSpeckles 1d ago
It was an Interesting proof of concept. Then the banks picked up the only useful part (instant free payments) and that was that.
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u/think_harder_plz 3d ago
No positive narrative, no gains. Bitcoin is purely hype driven as it has no utility. Mostly is just an exercise in in-group dynamics and delusion.
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u/OrneryAd403 3d ago
It definitely has utility and is considered valuable
But as becoming a stable currency, we are wayyyy to far from that.
Its functionality and thesis is strong. It is a hard fork of money but as far as scalability, that’s where the problem comes in. Getting it adopted globally. It’s too volatile and confusing for most people to be comfortable with.
I would say the delusional part might be Bitcoin becoming the world currency. The only way that will happen is if all fiat currencies collapse and people resort back to hard assets such as gold and bitcoin
Only time will tell but one thing is for sure, it will continue to appreciate
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u/Adrian-X 3d ago
It definitely has utility and is considered valuable
It's good to build rapport, throw in a few complements. Who exactly defines the value you mention?
They did tell you this is not the BTC site when they gave you the contract. Even though it's called r/BTC it's actually a Bitcoin Subreddit that focuses on teh Bitcoin fork called Bitcoin Cash.
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u/OrneryAd403 2d ago
The people? Many people and investors consider it valuable with a price of roughly 84k and a market cap of almost 2 trillion so yes it is considered valuable by many, maybe just not to you.
And no one told me. It says BTC so I’m assuming it’s going to be for BTC. If it was for BCH it should say BCH
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u/Adrian-X 2d ago
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u/OrneryAd403 2d 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
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u/Adrian-X 2d ago
If the book was worth its weight, it would say bitcoin transaction are irreversible, (the dictionary definition is not revisable) the book would not say Bitcoin transactions are not irreversible.
If the book said "not irreversible" its just crap, if you understood, "not irreversible" you have poor comprehension skills.
If you are not being paid to make this comments, you probably should heed the thesis in the book and stay away from speculating on BTC. Value is subjective, you define it, humans are susceptible to hypnosis, and can be made to believe value is something you can store digitally, or even in the element gold.
It's not my prerogative to tell you want to value and what not to value.
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u/OrneryAd403 2d ago
It was worth its weight I’d say, a 9/10 book explaining bitcoin and other alt coins and their purposes and functions and how blockchain works and if it’s a useful tech and along with other things.
And oops I meant to say not reversible, I didn’t know I made that mistake. My fault on my end I didn’t notice I made a typo
Yes value is subjective and it depends on the person. But if you look at it from an asset perspective, a 1.7 trillion dollar market cap with a price of 84k isn’t worthless. That means multiple people DO see value in it.
As regarding all the concerns I’ve mentioned, it was to get a different perspective from people and see what their thoughts on some of these concerns might be.
I’m still going to be investing into bitcoin regardless because that’s my own conviction that I built with the books and articles and videos I’ve watched on it.
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u/Adrian-X 2d ago
That means multiple people DO see value in it.
That's not the conclusion one should draw. We can learn a lot from mob mentality. The mob is speculating on a dream that can't materialize given the cons you may have read in that book.
The value is in the greater fool, so long as the narrative is growing the dream, demand will increase, when dream pops demand will chase more practical values. It's designed to pop, and undermine the people who want to see a change in our corrupt money system. The new BTC ecosystem is being used as a tool of repression.
The adage a market can stay irrational longer then you can stay solvent holds true, you can't bet against Bitcoin because we're in an infinite game. So long as the dream stays alive it can be revived.
The only way to realize the Bitcoin dream, is to build tools that overcome the tings you believe are shot comings, and in that market if others find your solutions solve their problems you create a profit, and indirectly a market for Bitcoin.
Just buying Bitcoin = speculating on others doing that.
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u/OrneryAd403 2d ago
Okay yes I agree but anything is a speculation.
When you invest into stocks or any investment it’s a speculation, what I’m speculating on is that when inflation and debt grows. Money goes into harder assets such as gold, silver, bitcoin, etc.
Inflation and debt will always continue to grow, constantly rising prices.
So let me ask you. Are you against it or do you believe in it
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u/Adrian-X 2d ago
ps Bitcoin was hacked, BTC is a Ponzi, it can't deliver on any of the early ideas until the original project intent is restored. BCH was one of the projects that attempted to retain the original design, unfortunately it was also hacked.
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u/anon1971wtf 2d ago
Heaviest chain, rest is noise. I learned it the hard way
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u/Adrian-X 2d ago
It's just the herd, and when it turns the true value is exposed.
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u/anon1971wtf 1d ago
Not even close. Real weight in Joules/watt-hours representing entrepreneurial bets of all kinds of peope over the years, most recently - whole industries
Herd things are Reddit/Twitter/Telegram noise, opinions. Empty
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u/OrneryAd403 2d ago
Really? I wasn’t aware. What do you mean by hacked.
The actual network and ecosystem hasn’t been hacked before, unless I’m not aware of it.
And BCH was made because Mike said bitcoin has many flaws and attempted to make a version that was better, faster and more reliable. But the market decided.
BCH has failed as it didn’t gain the adoption it wanted and Bitcoin is still #1 by far in terms of crypto currency success
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u/Adrian-X 2d ago
Read: Hijacking Bitcoin: The Hidden History of BTC
it's about 90% accurate, the process was more insidious than the book lets on.
The actual network and ecosystem hasn’t been hacked before, unless I’m not aware of it.
Hacked is in the definition of the word hacked. The Bitcoin code has been hacked many times, but each of those hacks have been responsibly removed.
The biggest hack that's yet to be resolved, is restricting the use of BTC to 1MB of transaction every 10 minutes. Satoshi put in a temporary transaction limit to prevent Bitcoin being hacked with transaction flooding when the network was vulnerable and free to transact, when it came time to remove it, there was a social hack to prevent it, BTC also removed the private property concept with Segwit, another hack. it's explained here: https://youtu.be/VoFb3mcxluY
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u/anon1971wtf 2d ago
it has no utility
Nothing comes close in defending oneself against inflation, all without dealing with anyone face-to-face, sharing no data and asking no permissions. Only few things compete on being as useful to me as Bitcoin is
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u/Quirky-Reveal-1669 3d ago
I believe the payment component will eventually come.
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u/DangerHighVoltage111 2d ago
How many more years until they reverse developing away from it? No, BTC was hijacked and moved as far away from p2p payments as possible.
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u/Adrian-X 3d ago edited 2d ago
2.) payments are not irreversible and many people would not be willing to assume much risk
- Do you mean Bitcoin payments are irreversible? or
- Do you mean Bitcoin payments are "not irreversible"? (aka revisable)
If the latter #2. you've just exposed yourself as someone who didn't totally understand his brief, of the former #1. then someone who is trying to manipulate people.
Fish all you like, only the minnows will bite.
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u/OrneryAd403 2d ago
Once you send a payment, there is no customer support or anything to get it back if you sent it to the wrong address. If you lose your key phrase your assets are gone.
And what am I trying to fish? I’m naming some concerns I found.
And it’s true, most people wouldn’t use crypto for payments when they have visa or credit cards that offer more flexibility and safety. Not to mention much faster
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u/Adrian-X 2d ago
ok let me FT;4U
2.) payments are
notirreversible and many people would not be willing to assume much riskThat's a feature not a bug.
I’m naming some concerns I found.
By saying the opposite. and to what end.
And it’s true, most people wouldn’t use crypto for payments when they have visa or credit cards that offer more flexibility and safety. Not to mention much faster
I'm not arguing that, you're handlers if you're getting paid are winning at that, and if you're a useful idiot, you're just letting everyone know as opposed to fixing it.
And what am I trying to fish?
Among many things, the people who are actually solving those problems.
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u/OrneryAd403 2d ago
I’m speaking in terms of the majority of the population. Not everyone understands bitcoin is what I’m getting that.
That not everyone will be on board with this.
And the for the people trying to solve it, have they?
They can’t solve adoption problems which is the main obstacle for it to prosper as a currency.
I’m not saying I don’t believe in it, I do.
I’m speaking in terms of globally and not just within the community
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u/Brilliant_Ad128 2d ago edited 2d ago
Hi haces una compra y quieres un reembolso se necesita una transacción nueva, por eso los pagos son irreversibles.
Si te vacían la billetera también es irreversible, no lo puedes recuperar.
El bitcoin y las criptomonedas nacieron en los años 90, ya que los primeros libros e ideas datan de esa época, es un sistema ponzi, el bitcoin no tiene utilidad alguna.
La época de las grandes ganancias terminó y los que salieron ganando son los que entraron primero, los que están en la cima de la pirámide, actualmente el precio está lateralizado subiendo al ritmo de la inflación es donde está la mayoría ahora y la próxima década entrará en una caída negativa, los nuevos compradores estarán en la base de la pirámide ponzi.
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u/pop-1988 3d ago
believe in Bitcoin
You keep your cult beliefs if you need that sort of thing
Bitcoin isn't any of the things in your post
China controlling 80% of bitcoins mining/hash
False
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u/OrneryAd403 2d ago edited 2d ago
Okay prove it’s false
And I can believe something and it not be some sort of cult belief
I’ll wait for you to give me some evidence that China doesn’t control 80% of bitcoins mining/hash instead of you just typing “false”
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u/pop-1988 1d ago
https://www.globaltimes.cn/page/202106/1226598.shtml
Your very old "research" book was published before this
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u/Varjek 3d ago
I used to believe Bitcoin’s promises, but I started to change my mind when I realized it’s never going to be decentralized in a meaningful way.
Cash is far more free than bitcoin can ever be… which is really saying something.
I can go buy a lawnmower from the guy down the block and pay him for it with cash, cases of beer, gold/silver, or trade him my labor. The government has no eyes on the transaction and cannot prevent it or tax it.
But if I want to pay him in Bitcoin, it’s a public transaction. That transaction has to get recorded and verified. The government can absolutely track it and even prevent it by seizing my wallet from afar.
And now states are opening the door to tax crypto transactions. They’re not going to only take a cut from large transactions… it’ll end up being from all of them.
And after we saw the protesting Canadian truckers get debanked, and the same happened to anyone who tried to help them, I completely lost interest in speculating on Bitcoin.
Bitcoin used to be something all the outsiders and forward thinking freedom types wanted. Now it’s something that big government wants because they can track and control it so much more efficiently and completely than they could ever do with cash.