Bitcoin is useless

[Prettyme]

For now, I think the best use for Bitcoin is just investing instead of transferring funds because of its fees and tat for confirmations.

Bitcoin is not useless unless you dont know things about it but i assure you that this kind of business can give you a better life that you are dreaming of, its not useless because many people are earning on it and many businessman are investing on it because Bitcoin is trustworthy and they already be winner. thats why im telling you that Bitcoin is not useless.

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[Magister Magus]

What you are saying about bitcoin is valid to any other currency: we are talking about trust, so a dollar is useful until we believe it's useful. If not, it's just a piece of paper.
I don't know how "useful" can be bitcoin. But if with this "useless" thing I can buy what I need, I'm pretty satisfied, without thinking too much to other philosophical considerations you did.

[Adamant06]

What you are saying about bitcoin is valid to any other currency: we are talking about trust, so a dollar is useful until we believe it's useful. If not, it's just a piece of paper.
I don't know how "useful" can be bitcoin. But if with this "useless" thing I can buy what I need, I'm pretty satisfied, without thinking too much to other philosophical considerations you did.

In my personal opinion I don't think Bitcoin is useless. Although there are people who misunderstand bitcoin in other way.But I think its lack of information and knowledge make them have negative thoughts about bitcoin.Maybe they should do more research and study futher about bitcoin,in order for them to understand how usefull bitcoin is.

[deisik]

Really ? If it is useless, why do you waste your precious time here spreading FUD ? The market will decide if it is useless, not from a clueless/uneducated person like yourself.

The price is indicative of value, not utility. The market isn't currently deciding it's useful so much as deciding it's valuable, and the value assessment is being derived purely from speculation and neophytes chasing get-rich-quick schemes. In this respect, it's value proposition is wildly skewed and irrational, or what economists call a "bubble."

It is a matter of convention

Utility is what gives value to something (strictly speaking, marginal utility, e.g. we don't value or price air because its marginal utility is 0). So if Bitcoin has some value which is denominated by its market price, then it should have utility by definition. Another question is what this utility is. As I said in one of previous posts, Bitcoin has some transactional utility even though it is pretty marginal (not to be confused with marginal utility mentioned above, which has a special meaning), so we are left with the utility which gives most value to Bitcoin. I would call it speculative utility, which basically reflects Bitcoin's usefulness for generating income in speculation. In other words, if it stops generating profits mid to long-term, Bitcoin will lose this usefulness and its price, as its numeric representation, will inevitably collapse

[BTG-BTC]

There is clearly better than bitcoin and I think people have understood it, when we see its dominance today ..

[kimkimkim852]

I do wish bitcoin to advance in its technology, seeing its dominance % and u can see the truth - its importance is decreasing, due to its "usefulness".

else it will become a history really soon

[bitcad4u]

Really ? If it is useless, why do you waste your precious time here spreading FUD ? The market will decide if it is useless, not from a clueless/uneducated person like yourself.

The price is indicative of value, not utility. The market isn't currently deciding it's useful so much as deciding it's valuable, and the value assessment is being derived purely from speculation and neophytes chasing get-rich-quick schemes. In this respect, it's value proposition is wildly skewed and irrational, or what economists call a "bubble."

The price of bitcoin is reduce further due to some panic seller.So use this and don't hesitate to a bitcoin at low price.There is nothing to get panic in this.This is just a fluctuation which use to happen  in bitcoin.Now the value is reduced to 8100$,use to by at low price.

[Lhanjhong]

Bitcoin is useless to those who dont have idea about bitcoin and to those who dont get any profit from it.Many people earn money from bitcoin how it become useless.there are ups and downs but it is profitable.

[John Wallker]

Bitcoin is useless for those people who don't know how this market works and what they should do with btc and others c currencies.

[Johnzky]

I am amazed with number of people being fooled with BTC:

1. Transactions takes hours
2. Fees are high
3. Development team sucks, uncapable solve scalability issues for years
4. Its not anonymous, every solution to make it, failed so far
5. Its centralized: who is biggest hash power owner? Who is biggest miner hardware provider? Who owns most of bitcoins? What is % of Bitcoins in coldstorage and what in exchanges ( Ye Mt Gox )
6. There is 0 economics for BTC, it just tight to USD with liquidity providers, cut that and try to value pizza box with just BTC
7. Its not store of value, its not digital gold, and it will never be 100k USD. Because it has no value. It has value only for energy probiders, hardware manufactures and random phils.
8. Its not insured, If some crap happened to your BTC, its gone.
9. Bitcoin has a limited supply, but it does not help much. Bitcoin has a code that can be amended and its enough of small group of people to work together to support that. Question really is: do someone need that hassle? No really. Bitcoin has satoshis, that currently meaningless and just nice numbers after dot, but this a very well painless way to inflate any crypto currency and its up to liquidity providers. Again it falls to point #5 and #6. Added on 24/01/2018

Such crap will never be used in payments, noone wants to support Terrabytes or Petabytes of data.

Its funny to observe how uneducated shills trying to make casual office landline phone to look smart phone.

BTC is scam of the century, stay away.

UPDATE 23/01/2018:

useless, guys the fact that some of you become reach and wealthy does not make Bitcoin useful. You wealth does not come from values that are used in propaganda.

1. Why I am still here? I believe there are technologies that are better maintained and lead than BTC, I prefer put money in something that bring value, has use-case and been used.
2. LN is panacea! Well not, so far its more dream than reality, no doubt it will be delivered in one or other way, but it will not solve all problems and so far it has more questions than answers.

UPDATE 24/01/2018:

Everyone is amazed of why I called it useless, well, recently Stripe dropped support for Bitcoin payments. This is the prove of Bitcoin being useless. Stripe was not the only one in recent months to do so. It should ring a bell.

UPDATE 29/01/2018:
Few points were made here that are unfair:

1. Bitcoin is a first one, its revolutionary and so on and so forth, wrong, Bitcoin is a client that is build on top of practices that were developed and test long time before Bitcoin e.g. Proof of Work, Hashcash, eCash, bit gold, Merkle Tree, Peer-to-Peer,Byzantine fault tolerance etc.

2. Bitcoin is still in development and it needs a time and so on and so forth, really? its a 10 years old technology. Its usage is very easy predictable, no rocket science here. Scailibility problems were addressed long time ago. But like in every corrupted government, Bitcoin has biased devs, greedy miners and exchanges driven by capitalists. Why to care about tech? When everyone is just become wealthy on nothing. This is why its scam and this is how it become useless, because everyone only cares about price, not utility on day-to-day basis. Typical ponzi game.

3. Bitcoin is store of value, fake as is. Everything that has Blockchain underneath is store of value, Bitcoin is neither exception nor unique here. And again it has no value, because there is no utility. Remove exchanges from equation, and tell me how much BTC will be worth 1 pizza?

UPDATE 30/01/2018:

Bitcointalk, and many other crypto related forums are heavily manipulated by bots, the amount of useless posts and conversation is just crazy. Even look at this thread, so much messages about "it will make me reach", "it growing", "I am going to be wealthy" so much manipulation, only in ponzi game this possible. It proves just on how bitcoin is useless, because 90% of people just copy paste message from bots, even not knowing basic fundamentals.

if bitcoin is useless what comes you here?and i am sure that your still holding bitcoin in your portfolio so dont be like that because theres no need too.lets just hold and wait for the rising of the market.this bleeding took so long now

[Leanna44]

We all have different views in everything specially in bitcoin and i respect your opinion. But for me bitcoin is not useless in fact it helps a lot of peoole make lives better. Heard about an inspiring story of my classmate with regards to his bitcoin experience that makes me encourage to do bitcoin too. How his life changes and even quitted his job just to focus bitcoin and now he is getting what he want in his life.

Exactly bitcoin is not useless sir  eveyone proves that it really helps them in their deprivation before true it is very risky,unbeleivable but  it is ok everyone go through that to commit there stunning victory.

[Shanmatthew]

You cannot address bitcoin as a useless thing because it has been proven that it was able to help people, teach all of the users to manage, invest and trust this kind of transaction. Btc should not be considered useless since it is a helpful thing in the industry and economy.

[GeniusAko]

Bitcoin is not useless or worthless. Do you know that 100,000 + of stores in Japan that are accepting bitcoins as payment? Do you still think that the bitcoin is worthless? Bitcoin wilk change the current economic system.

[Gingsa]

Bitcoin isn't useless. And if it is useless why are you using bitcoin and why are you here?

Some of us is depending only in bitcoin because of its value. Bitcoins have ups ad downs but it is surely worthy for us.

[doraegun]

I am amazed with number of people being fooled with BTC:

1. Transactions takes hours
2. Fees are high
3. Development team sucks, uncapable solve scalability issues for years
4. Its not anonymous, every solution to make it, failed so far
5. Its centralized: who is biggest hash power owner? Who is biggest miner hardware provider? Who owns most of bitcoins? What is % of Bitcoins in coldstorage and what in exchanges ( Ye Mt Gox )
6. There is 0 economics for BTC, it just tight to USD with liquidity providers, cut that and try to value pizza box with just BTC
7. Its not store of value, its not digital gold, and it will never be 100k USD. Because it has no value. It has value only for energy probiders, hardware manufactures and random phils.
8. Its not insured, If some crap happened to your BTC, its gone.
9. Bitcoin has a limited supply, but it does not help much. Bitcoin has a code that can be amended and its enough of small group of people to work together to support that. Question really is: do someone need that hassle? No really. Bitcoin has satoshis, that currently meaningless and just nice numbers after dot, but this a very well painless way to inflate any crypto currency and its up to liquidity providers. Again it falls to point #5 and #6. Added on 24/01/2018

Such crap will never be used in payments, noone wants to support Terrabytes or Petabytes of data.

Its funny to observe how uneducated shills trying to make casual office landline phone to look smart phone.

BTC is scam of the century, stay away.

UPDATE 23/01/2018:

useless, guys the fact that some of you become reach and wealthy does not make Bitcoin useful. You wealth does not come from values that are used in propaganda.

1. Why I am still here? I believe there are technologies that are better maintained and lead than BTC, I prefer put money in something that bring value, has use-case and been used.
2. LN is panacea! Well not, so far its more dream than reality, no doubt it will be delivered in one or other way, but it will not solve all problems and so far it has more questions than answers.

UPDATE 24/01/2018:

Everyone is amazed of why I called it useless, well, recently Stripe dropped support for Bitcoin payments. This is the prove of Bitcoin being useless. Stripe was not the only one in recent months to do so. It should ring a bell.

UPDATE 29/01/2018:
Few points were made here that are unfair:

1. Bitcoin is a first one, its revolutionary and so on and so forth, wrong, Bitcoin is a client that is build on top of practices that were developed and test long time before Bitcoin e.g. Proof of Work, Hashcash, eCash, bit gold, Merkle Tree, Peer-to-Peer,Byzantine fault tolerance etc.

2. Bitcoin is still in development and it needs a time and so on and so forth, really? its a 10 years old technology. Its usage is very easy predictable, no rocket science here. Scailibility problems were addressed long time ago. But like in every corrupted government, Bitcoin has biased devs, greedy miners and exchanges driven by capitalists. Why to care about tech? When everyone is just become wealthy on nothing. This is why its scam and this is how it become useless, because everyone only cares about price, not utility on day-to-day basis. Typical ponzi game.

3. Bitcoin is store of value, fake as is. Everything that has Blockchain underneath is store of value, Bitcoin is neither exception nor unique here. And again it has no value, because there is no utility. Remove exchanges from equation, and tell me how much BTC will be worth 1 pizza?

UPDATE 30/01/2018:

Bitcointalk, and many other crypto related forums are heavily manipulated by bots, the amount of useless posts and conversation is just crazy. Even look at this thread, so much messages about "it will make me reach", "it growing", "I am going to be wealthy" so much manipulation, only in ponzi game this possible. It proves just on how bitcoin is useless, because 90% of people just copy paste message from bots, even not knowing basic fundamentals.

All people have their own  opinion like you and we just need to respect it whatever you express your feeling in a good way, any way even if it has a negative result of Bitcoin Situation now but I stick for it. I think during the time bitcoin is in a good value many people had benefits the big profit. i'm sure

[Riska katom]

For me personally, the main obstacle in my trading is the high transaction fee to be paid, and my trading plan becomes chaotic. Currently I'm lazy to run trading in bitcoin, and move it to investment while waiting for prices to change, hopefully the price will rise, Amen.

[Bacotan Bae]

For me personally, the main obstacle in my trading is the high transaction fee to be paid, and my trading plan becomes chaotic. Currently I'm lazy to run trading in bitcoin, and move it to investment while waiting for prices to change, hopefully the price will rise, Amen.

Where is trading at high cost? As far as I know the trading fee is not more than 0.05% and this is very reasonable. maybe you mean is the exchange of bitcoin to fiat and this usually cost 1% plus other cost.

[margielyn]

based on my opinion i think bitcoins is not useless in community because all people know how this website its help for our life. and if it not useless why? people enjoys the bitcoins.that way it is not useless to us..

[MIZANUR5033]

I think it is not hundred percent true because it has very much good reputation though it has some disadvantage like almost everything has. Sometimes its transaction times remains longer and have to pay some extra fees but it can help to change your life because it is the only one coin which gives you much more benefits and facilities than other and you can be a big fish at online marketplace if your luck shines.

It is very much useful at this present time and will be at future. Just you have to care about to use it because you can face with a big loss if you misuse it and that is not fault of this coin.

[budz0425]

I think it is not hundred percent true because it has very much good reputation though it has some disadvantage like almost everything has. Sometimes its transaction times remains longer and have to pay some extra fees but it can help to change your life because it is the only one coin which gives you much more benefits and facilities than other and you can be a big fish at online marketplace if your luck shines.

It is very much useful at this present time and will be at future. Just you have to care about to use it because you can face with a big loss if you misuse it and that is not fault of this coin.

Bitcoin is useless for all the people who does not want change to enter their life, yes we all want change but once an opportunity already knocking our door then we are doubting it and doesn't even give chance to know what is real about it just like cryptocurrencies, so if for them bitcoin is useless then they are missing one thing that could lead them to success.