Some real problems for Bitcoins future

[u/OrneryAd403]

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

[u/Select-Schedule-1155]

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

[u/OrneryAd403 → u/Select-Schedule-1155]

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