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I just don't see what benefits Bitcoin gives to me over a regular bank. First of all because it is decentralised, it is much less scalable than the current system, so I don't think it is going to be able to replace regular banking anytime soon (although I don't know a tonne about the scalability issues). Also I like to have a centralised system, because if my bitcoin gets stolen/I screw up and lose it, it is gone forever. If my money gets stolen somehow, I call up the bank and they reverse the charges. Having a central authority is also pretty nice because they also give me lots of other benefits like credit card rewards, making it really easy to move my money around into different savings accounts or investments, etc. And regular currencies are also backed by the government, so are incredibly stable, unlike Bitcoin which changes values very quickly. Bitcoin is also deflationary, which is a bad trait for a currency to have, as it discourages investment, and encourages people to hoard money instead of spending it. I'm sure there are use cases for Bitcoin, but I don't think it is "some utopian shit", since the current system works super well for most people. |