If someone criticizing Bitcoin is slow and expensive, I don't think there's an answer because it's a fact.

There are many altcoins that faster and cheaper than Bitcoin, although they have many disadvantages that actually these are Bitcoin's advantages like decentralized, secure, and trustworthy.

We have side chains and layer 2 for Bitcoin, but it's not as safe as the on-chain.

There are many but for me the biggest one is the deadliest one for the project:

The unsustainability of mining due to halvings, two more halvings and it's over if nothing is changed.
There's also a threat that this mining companies will switch to more profitable and less demanding projects way before this halvings.

This companies will reevaluate at some point and numbers will speak in which direction to go.

Some info about the costs:
https://youtu.be/sw6aMxaNmXA?t=416

It's always the speed and the volatility of the fees. When the network is congested, fees get up and become very expensive. Just a few months ago, we saw that the network had been attacked and spammed, resulting in its fees reaching up to $100+ just because of that.


I'm not a developer but it's always been said about scalability. Maybe, there will be a real solution for that someday but I agree to Jawhead that despite that disadvantage, Bitcoin is more secure than the other cryptos. And with those cryptos that will say that they've got solution to Bitcoin's problem, just wait for them to get clogged and they'll also experience the same problem.

That's the biggest risk around Bitcoin. Once mining companies stop making profits from mining, they will surely switch to a profitable crypto to mine. Because most of the mining companies are businesses. They won't run the machines unless they see a way to make profit out of their mining activities.

Even if they do, they will solely have to depends on the transaction fees which may not be sufficient and as a result bitcoin transactions will become more expensive than the current level.

I am sure the Bitcoin Developers will think of a way out of this.

There's no necessity to defend bitcoin at where being criticized especially in the public. It's okay to be an anti bitcoiner because it's a digital asset surrounded with other related potential characteristics such as the Altcoins. The federal authorities could also be against it due to its decentralized modelitty.
So, there's no way we can expect everyone to talk good about the bitcoin. Let whoever that want to say anything about bitcoin do and your endivoirs of engaging on arguements with it is like trying to convince them to what they don't believe.
Bitcoin is a real digital currency and criticisms can't make changes over its potentials.

Bitcoin is criticized either by cunning fraudsters and shitcoiners or by regular nocoiners who still live in the fiat matrix and do not yet understand what Bitcoin is and what money is. You need to understand that Bitcoin is not Visa or Mastercard; Bitcoin is a monetary network and protocol. Bitcoin Layer 1 is something like Fedwire; it is only used for settling high-value transactions. Further building can be done on Layers 2 and 3, etc. The Lightning Network can perform millions of instant transactions per minute, but there are still significant challenges. The problem is that Bitcoin is decentralized; there is no foundation, no one taking care of Bitcoin. This is unlike scam altcoins, which have entire teams of developers and marketing teams, and who have kept a large portion of the supply for themselves before launch, earning huge amounts of money which they invest in marketing and developers.

Don't forget about layer 4, 5 and 6

What a clusterfuck...

The challenges in LN are unfixable, first you would need to modify Bitcoin protocol which is written in stone.


Have you ever researched what 51% attack and centralization is ?

It's like talking to kids, what a waste of time.

People who argue these speed of Bitcoin lack understanding of the 3 bodies of a coin such as the decentralization, the security and the speed. If you want to build coin, one must he sacrificed among that 3 and Bitcoin choose to prioritize decentralization and security before the speed. If there is no decentralization, the network will become a failure and if there is no security, nobody will have confidence and say they will buy Bitcoin that is this expensive.


Most altcoins today are prioritize 2 among these 3, mostly they prefer to make people think speed is what they need and they ignore security and decentralization, hence why most of the altcoins aren't that security tight and aren't decentralized, it's either they are hack today or the team just make decisions about the network, this never happen in Bitcoin network because of how decentralized it is for everyone.

The situation is really worrying as this mining companies are purely driven by profits and they have professional advisors who can show them they can earn twice as much on different project.
On the scale they operate even couple percents would be worth switching but due to high volatility the profitability of mining must be much greater for them to switch from one project to another and the halvings make this decision much simpler - unless the market cap will be able to multiply in value after each halving in which I don't believe at this trillion+ levels.

As for BlackRock and other sharks, they just want to multiply their FIAT - they don't have any love for cryptocurrencies but will say otherwise to pump the price up.
They will have no second thought to cash it out after getting their target or seeing that there might be some unrecoverable trouble.
Again, they are not HODL'ers, they are not Bitcoin lovers, they are businessman who want to multiply their stack of FIAT and they have a lot of professional advisors. Nothing else.


Ethereum was a big contender but they switched to PoS.
Monero is feared due to their past of changing PoW to fight off ASIC's but maybe they will be interested in CPU mining - who knows.

Edit: it is already happening: https://cryptonews.com/news/bitcoin-miner-profitability-halving.htm

All the other projects are noise but I could be wrong and they can view it differently.

It's not a myth, I would say that even green energy used on mining is a waste producing a waste because "green energy" is not that green and energy alone could be used for something different.

As for Banking system taking more energy than Bitcoin mining - overall it might be true (still) but the problem with Bitcoin mining is the big centralization of this energy use which makes it very difficult for the surrounding environment as we can see in Texas today.

As for difficulty drop, you know what else will drop ? security of the network and due to the fact Trillion+ dollars are in this project there will be state sponsored adversaries who will be able to attack the network.

Will they actually attack ? we don't know, what we know is that the security will be low.

I don't have more time for discussion so I close this by saying: If nothing changes to the Bitcoin protocol, it will collapse.
It's economically impossible to survive.
Cheers.