matchcohnn

Because at the moment, bitcoin has no redeeming qualities.

- it is not transactional, as each trade costs $30-40. as exchanges hold the orders for weeks

- it is not rare, as there are tons of viable cryptocurrencies coming out each day

- it is not safe, as exchanges go bankrupt and shutdown.

- it is not stable, as prices fluctuate wildly each day. Downside could be 90%, upside could be 20%.

- it is not fast, as 100K+ transactions awaits

- it is not anonymous

- it is not valued correctly, as a sell order of $100M will most likely reduce the price by 50%

without wash trades to pump up its value, what good is bitcoin for??

- bitcoin isn't usable as a transactional currency. it costs $30-40 per transaction. Plus other currencies are gaining steam, and offering other choices for people to transact

- bitcoin isn't rare to be a store of value.....everyday there's a new viable cryptocurrency springing up

- bitcoin isn't safer than dollar.....it can drop 90% in any day; no official entity is going to prop it up and make sure it doesn't crash. it can be banned by countries (and has been by a few)

- bitcoin isn't easy than square cash or visa or wires.....it can take several weeks to send money. plus the transaction fees are high

Why should the US government fear bitcoin??

- bitcoin isn't usable as a transactional currency. it costs $30-40 per transaction. Plus other currencies are gaining steam, and offering other choices for people to transact

- bitcoin isn't rare to be a store of value.....everyday there's a new viable cryptocurrency springing up

- bitcoin isn't safer than dollar.....it can drop 90% in any day; no official entity is going to prop it up and make sure it doesn't crash. it can be banned by countries (and has been by a few)

- bitcoin isn't easy than square cash or wires.....it can take several weeks to send money. plus the transaction fees are high

But but but crytocurrency is so useful right??

1.) It's just like dollar! Shoot, coinbase won't allow me to trade it for 3 months! Every country is banning it? It went up 20% then dropped 50% today?!

2.) It's just like Visa!! Damn it costs me $500 to send $500

3.) It's just like gold! So rare....oh wait, another crytocurrency just came out with 100M unit of supplies.

4.) It's just like the bank!! Damn another exchange got shut down/frozen. The insiders made out like bandits

Oh well, who cares. It's for gambling!!!!