Was this article written in 2016? Most of the complaints here have been answered, repeatedly. Every single one of them. The author should have frankly spent a little more time researching his conjectures. Further, he should compare his complaints against those of fiat, which is also not reversable but leaves no trace at all. This has only been the most recent peak in price, there have been a half dozen previous ones, and each time some commentator says obsequiously “those who bought at the top lost money”. Thank you Mr. Eagle Eye, your service to the world is noted.

None of the things mentioned are “flaws in bitcoin”. There are criminals. People engage in fraud. This happens with cash. This happens with gold. This happens with food. Heck over and over again JPMorgan is hit with fines for facilitating money laundering. Every week, a company gets accused of wash trading on wall street. The idea that the fact people do this has something to do with bitcoin is preposterous.

The ONLY legitimate complaint here is that using bitcoin can be slow and expensive. Guess what? There are already solutions to that (other cryptos, lightning networks) that relegate Bitcoin to being a store of value rather than a currency. Further, is it really slow and expensive? Have you tried to do a bank transfer recently?

The author should have spent way more time understanding the topic he is writing about and how the complaints he posted we answered years ago. I’m amazed the author didn’t gripe about energy use (which has also been answered)