Bitcoin is useless

[djselery]

Despite all problems, Bitcoins till very useful, in my opinion. It is still the most profitable crypto currency right now, and also can be used easily as a simple currency to buy and sell online. It is also opening the doors to altcoins and to using blockchain technology in so many fields.

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[vsyc]

I don't think bitcoin is useless, we all know so many people alreay get rich because of bitcoin.
so in my opinion bitcoin is very useful.

Those who were rich with Bitcoin were those who invested in Bitcoin from old times. From this day on, everybody will have a harder profit, because Bitcoin's worth under $ 10,000.

Those people who will buy bitcoin now will make a lot of profit in the future because a lot of professional investor says that the price of bitcoin might get up to 6 digit pricing which is a really far price from the current price now but if that target is reached by the market then it will be a very huge profit for all of us and to those who bought bitcoin now.

Typical ponzi ad

[Zach707]

Bitcoin is not useless for me. Many people around the world have already earned millions because of bitcoin. No matter what you say how long the transaction and high fees, many are still a believer of bitcoin. But i respect your point of view.

[Rebisco]

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 12/02/2018:

As this forum full of bots, I will emphasize one question from the user:

Ok, for all of you that insist that Bitcoin is not useless, tell me!

What do you use Bitcoin for?

Please don't tell me what it could be used for or how other people might use it. I want to know how you use it. Also, please don't tell me about trading or hodling. Those are not uses.

Hope to get constructive answers.

UPDATE 11/02/2018:

One by one, it becomes recognizable that Bitcoin at this stage is very useless. DarkNet, is the one who started one, and the one who will make a dump: https://cointelegraph.com/news/is-darknet-done-with-bitcoin

This is a very worried signal

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.

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 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 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.

Bitcoin is not useless! There are many benefits that we can get from the bitcoins. Bitcoins can be the key for us to become successful person in the future. I believe that many more people will become interested to the bitcoin because there are many advantages that the people can get from the bitcoins.

[Shamburis]

LOL. This problems you have pointed is just being ignored by its users. You know why? Because it has been very profitable, of course RISK will always be there, but it is nothing compared to the price you can get.

why would you say its useless if you does'nt know about bitcoin as far as i'm concern bitcoin brings as a lot of benefits and it is very east to transact by networking and it is very useful to us who experience about bitcoin.

[vsyc]

People still speak about "profit", still smells ponzi, no constructive comment.

[Sam76512]

People still speak about "profit", still smells ponzi, no constructive comment.

I agree with you there. Sure wish people would try and articulate their meanings and come with more valuable responses other than broken english get rich quick responses. I know everyone's native language isn't english but come on. "I made income, it provide will wealth, i dont not work anymore because I'm millionaire, it helps me buy my groceries and pay bills, blah blah blah.

Don't get me wrong I am very bullish on blockchain and crypto-currency goes hand in hand with that. Sorry they are here to say. As for Bitcoin. It was the first and is still a very valuable asset to have and will rise again. It will not always remain on top. Ethereum will overtake it by market cap this year. Nothing against Bitcoin as it has paved the way and opened the doors to the masses. But as for a use value for transactions sorry but that is not currently the case. Maybe future updates will fix that. But it is too volatile and tx fees are still to high to use it in our daily lives. But still a great store of value. Still a sound investment if you don't mind the RvR. (Risk vs. Reward)

No ponzi scheme as they are backed by a certain group of people looking to prey on others. Any currency only has value by who is willing to trust it and use it. I trust crypto more than my own government currency that is backed by "trust". It will collapse. It was great when it was backed by gold but not anymore. Hyper-Inflation will drive it to collapse. Value comes from if people are willing to use it and accept it. Crypto is beginning to do that. So while there will always be millions of people willing to accept Bitcoin it will never be useless. OP just has to learn to accept that.

[tonyosa]

you point can be debated.much of the points made can also be said of fiats which are not back by anything.Our government print them at will.We have had failed fiat at different time history.Bitcoin has its own challenges but not totally useless in my opinion

[Cedie]

We respect your opinion about bitcoin, considering there are different views from people when it comes to cryptocurrency. My question is, if you think bitcoin is useless why do you make efforts just to make us believe in your point of view? Yes, I know, bitcoin might be useless but bitcoin cab be a source of income. That's your own view with a touch of irony. But for me, bitcoin is useful because it enhances MY everyday transactions.

[bitctrimor1]

I respect your point of view when it comes to bitcoin. It wasn't entirely useless if a lot of people are benefiting from it. A lot of people get rich because of bitcoin and I think it is quite rude to say it was useless.

I agree. I think it just depends on the person you're asking. I think for many people here and all those around the world supporting the cryptomarket, I would believe that they would never say that Bitcoin is useless. It introduced the cryptocurrency market to the world, being the pioneer coin. It has been the medium of many cryptocurrency traders and investors in the market, that most certainty, brought them alot of profit, and therefore, good changes in their lives. So, I think that it's very useful.

[tonyosa]

some are profitable.i have had the fortune of participating in some.it is always a good idea to do some checks before you invest your time in it.

[trashvin]

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

I dont agree that bitcoin is useless, i am a big fan of bitcoin since last year and i am confident that bitcoin is very helpful for a lot of people here in crypto world and ever since that bitcoin was running a lot of people are making a lot of money or profit.

[jhamz03]

For me, no! Bitcoin is not useless. How can you say that when many people lives was change by bitcoin unexpectedly and many become millionaire instantly who start from nothing. Bitcoin is indeed reducing poverty because of a lot of jobless people are now working to earn bitcoin and it extremely useful for their lives that it really aided them financially.

[samtarly]

For me, no! Bitcoin is not useless. How can you say that when many people lives was change by bitcoin unexpectedly and many become millionaire instantly who start from nothing. Bitcoin is indeed reducing poverty because of a lot of jobless people are now working to earn bitcoin and it extremely useful for their lives that it really aided them financially.

That's not what the OP meant, bitcoin by being useless is because there is no actual use after its creation, you imagine transaction cost is higher than paying what you get, i'd stick using fiat for transaction than using bitcoin. Yes bitcoin gave a lot of fortune and wealth to a lot of people but its practical use and function is still unknown.

[stepwilli]

I see btc as a limited commodity.

Take away the opportunities that I have to earn money from Bitcoin, then it will become useless to me. The only reason I still remain with Bitcoin is because I’m earning from it, apart from that, it’s totally useless (now) cause every other features it has to offer doesn’t make sense anymore. The time it takes for carrying out transaction, processing and confirmation, they all sucks and waste time. The only thing that is good now is the fees for transaction, but it will become costly again once price starts to rise.

[charmaine08]

That's not true , bitcoin is very useful to us.People who says bitcoin is useless they are the person who really don't know what and how to use Bitcoin .They don't have any idea how Bitcoin will help them to grow their money and also help them to become rich soon .I hope someday bitcoin will also help me in many things

[DaftAjax]

That's not what the OP meant, bitcoin by being useless is because there is no actual use after its creation, you imagine transaction cost is higher than paying what you get, i'd stick using fiat for transaction than using bitcoin. Yes bitcoin gave a lot of fortune and wealth to a lot of people but its practical use and function is still unknown.

If there's no actual use after its creation then why did it pumped to $20k from last year? And also why there are now companies wanted to use this cryptocurrency.
It is higher, simple, its the highest crpytocurrency in the market right now, so its just all marketing strategy. Sticking with fiat? Good luck with that.
Its not unknown, its just that you're not familiar with its utilization yet.

why would you say its useless if you does'nt know about bitcoin as far as i'm concern bitcoin brings as a lot of benefits and it is very east to transact by networking and it is very useful to us who experience about bitcoin.

There are no 'a lot of benefits'. Although I can tell that it is the highest cryptocurrency yet, and t reached $20k last year. But that very convenient still. How can you say that it is very useful, please have examples.

[Lhaine]

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

I dont agree that bitcoin is useless, i am a big fan of bitcoin since last year and i am confident that bitcoin is very helpful for a lot of people here in crypto world and ever since that bitcoin was running a lot of people are making a lot of money or profit.

Bitcoin can help us in many way, like on its easy transaction ,this is also help us because we can paid others through bitcoin just make sure that you have internet to send easily bitcoin to another address. This kind of way is help us to paid easily.

[CoolSkeleton]

I do not think it is useless. It has given us so many opportunities to become rich. Besides, I think the Bitcoin technologies have been improved because they are always traded in large volumes. But it making not so much use to pay for something tbh). BTC is too young for now

[Hotel_Prodeo]

I do not think it is useless. It has given us so many opportunities to become rich. Besides, I think the Bitcoin technologies have been improved because they are always traded in large volumes. But it making not so much use to pay for something tbh). BTC is too young for now

Which says useless bitcoins are the ones who do not understand with bitcoin and do not want to change, they're comfortable with traditional transactional systems that rely on safes to save their money.