1. It has become more of a speculative instrument than an actual currency. People are more concerned about making money buying/selling/holding BTC. Defeats the original purpose of a "decentralized currency"
2. Not sure that decentralized currency is a good thing. Some things need to be regulated unfortunately. Yes, we all hate the central banks etc but I would trust a regular currency anyday over BTC. Not to mention that you are at the mercy of these "wallets" or even worse "centralized wallets" like coinbase etc which again defeats the purpose in my opinion.
3. It wastes electricity. A lot of it just to mine. Why do we need to mine it again ? Oh it is because there is only so much of it ? Is that a good thing ? I don't know.
4. Most importantly: adoption. My mother has no idea what BTC is and will ever know. It is far too away from being a currency that can be used by regular people. Perhaps that day will come but not yet.
5. Too many scams due to the gold rush of BTC. Again, that is a bad thing.
Disclaimer: I don't know much about BTC but still have these thoughts about it.
Comments
Can't speak for others but my thoughts are:
1. It has become more of a speculative instrument than an actual currency. People are more concerned about making money buying/selling/holding BTC. Defeats the original purpose of a "decentralized currency"
2. Not sure that decentralized currency is a good thing. Some things need to be regulated unfortunately. Yes, we all hate the central banks etc but I would trust a regular currency anyday over BTC. Not to mention that you are at the mercy of these "wallets" or even worse "centralized wallets" like coinbase etc which again defeats the purpose in my opinion.
3. It wastes electricity. A lot of it just to mine. Why do we need to mine it again ? Oh it is because there is only so much of it ? Is that a good thing ? I don't know.
4. Most importantly: adoption. My mother has no idea what BTC is and will ever know. It is far too away from being a currency that can be used by regular people. Perhaps that day will come but not yet.
5. Too many scams due to the gold rush of BTC. Again, that is a bad thing.
Disclaimer: I don't know much about BTC but still have these thoughts about it.