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The Water Cooler
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<blockquote data-quote="OKC03Cobra" data-source="post: 2155667" data-attributes="member: 7518"><p>Bitcoin has too many drawbacks:</p><p></p><p>- It would cause deflation (as the number of units is limited) if it would be the official currency.</p><p></p><p>- The world earns nothing by mining Bitcoins. In fact, it consumes energy, it takes CPU/GPU time and is being wasted.</p><p></p><p>- Bitcoin transactions are not as anonymous as they claim to be ( read here: eprint.iacr.org/2012/584.pdf ).</p><p></p><p>- Bitcoin prices are motivated mainly by fear nowadays, which is never a good thing.</p><p></p><p>- It might be working as a pyramid scam, where the early adopters make money on behalf on the new buyers. (The question is - is Bitcoin here to stay or not, cause otherwise many would lose their money on Bitcoins).</p><p></p><p>(And the list goes on).</p></blockquote><p></p>
[QUOTE="OKC03Cobra, post: 2155667, member: 7518"] Bitcoin has too many drawbacks: - It would cause deflation (as the number of units is limited) if it would be the official currency. - The world earns nothing by mining Bitcoins. In fact, it consumes energy, it takes CPU/GPU time and is being wasted. - Bitcoin transactions are not as anonymous as they claim to be ( read here: eprint.iacr.org/2012/584.pdf ). - Bitcoin prices are motivated mainly by fear nowadays, which is never a good thing. - It might be working as a pyramid scam, where the early adopters make money on behalf on the new buyers. (The question is - is Bitcoin here to stay or not, cause otherwise many would lose their money on Bitcoins). (And the list goes on). [/QUOTE]
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