The bad attributes of Bitcoin:
- Huge transaction costs
- Waste of resources such as
2.1. computing equipment,
2.2. energy
2.3. and even physical space.
These resources could have been used for scientific purposes or to lower purchase costs for retail consumers.
- Slow transaction speed
- Extreme inequality, similar to corrupt sovereign money.
Early adopters and miners kept it in secret and abused public resources for their personal benefit.
Why would I want to pay to these people in order for them to sell in profit?
I prefer that it will go to zero.
How is it a good store of value with such huge fees for entrance and for exit?
Have you made a wire transfer recently? Bitcoin's fees are still substantially cheaper and substantially faster. Try sending money across boarders, it's not easy nor is it fast. Bitcoin is extremely fast by comparison.
Also, regarding energy use...
There are currently over 2.5 million ATMs in the world, the sum of which consume far more energy than bitcoin mining.
If you want it to be more widely dispersed, all you have to do is buy it.
The entire bitcoin network is only worth $100 billion. That is literally a drop in the ocean in the world's financial markets. Apple for comparison has roughly $250 billion dollars in cash on their balance sheet. They could buy the entire bitcoin network 2x over and that is just one company.
You may dislike bitcoin compared to your favorite cryptocurrencies, and that is your right, however there is a good chance that whatever bitcoin doesn't do currently, it will in the future.
After all, it is only software and software can be upgraded and updated regularly.
It's also still the most decentralized crypto project in the world currently, even if it is not perfect.
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