Hard truths about Bitcoin

(This is a repost from my original article for Stacker News)

Let's dive right in

• Bitcoin doesn't fix everything. "Everything fixed" is not a state you can ever be in. And you don't want to either.
• Bitcoin is a software. It has bugs and it has critical bugs in all layers. There is no way around that.
• Bitcoin will be used by the most oppressive regimes and by the most atrocious criminals as well as by the most pro freedom communities or organizations.
• Bitcoin will be used by leftist/socialists, communists, nazis, but also by statists, liberals or anarchists. And that's a good thing.
• Bitcoin doesn't result in everyone having an equal amount of money. There will be super rich people and they will be getting richer.
• There are possible scenarios in which switching to Bitcoin ends really badly. If you can't see and comprehend those, you can't evaluate or understand the goals of what we are doing.
• Kids will hate learning at school about Bitcoin. It will be boring. If you are "famous" now, kids will hate you later.
• When someone tells you “it’s easy, Bitcoin is like…” No, it’s not. Bitcoin is not like any other thing and so instead you have to explore and learn its properties one by one.
• Scaling is not something that can be done or enabled. Scaling is a never-ending fight.
• What you think you know about Bitcoin now will be mostly wrong 10 years from now.
• Bitcoin is still missing easy solutions for many life situations, including divorces, inheritances, deaths and similar. Large amount of BTC is and will be lost by people dying.
• If Satoshi would set the initial block reward constant to 64 instead of 50, we would have 26.8 million coins instead.
• There are other topics in life than Bitcoin.