[Noughmad]

Bitcoin would solve this, if it was actually used (or fit to be used) as intended - people keeping their own wallets and making on-chain transaction.

However, because it is so poorly designed, almost nobody does that, and instead store their crypto in exchanges. Which have all the downsides of banks (they can hold your money hostage) but none of the upsides (security and regulation).

[yuvadam]

What aspects of bitcoin do you perceive as being "poorly designed"?

[Eisenstein]

* Deflationary by design

* Early adopters disproportionately end up in control of majority of coins (currently 0.03% of wallets own 59% of all bitcoins)

* Proof-of-work is wasteful

* Chain is very inefficient

* Loss of coins with loss of wallet means, for one, that inheriting the coins is not possible unless special precautions are taken which undo a lot of the security

* Other libertarian nonsense that shows very naive understanding of economics that I can't think of at the moment