Bitcoin is useless

[Yara1]

Every one is entitle to his or her opinion about bitcoin.All i know is something that have transformed many people life and turned poorpers to owners of business and properties can still be considered useless.

[Magister Magus]

You are pointing to a well known issues, that - really - make bitcoin still impractical to use; but any technology at its beginning had a lot of trouble and was difficult to utilize.
But there are lot of people working on these aspects, so I'm pretty sure that they will be resolved in a reasonable time.

[Triyavam]

We all have different views about everything especially about bitcoin and I appreciate your opinion,
You say that bitcoin is actually useless,
But for me, bitcoin is not in vain so it helps many people make life better and go forward,
I can see people with a positive view of the benefits of life from bitcoin because they know everything should go well, If developers will find a way to lower costs, it will definitely be a currency alternative in a meaningful timeframe,
That's what made them successful.

[cellard]

Already refuted a million times but here we go:

"Scaling issues". Not an issue if you treat it as digital gold cold storage.
"Not decentralized". Yes it is, the chinese or whoever has the most hashrate cannot change bitcoin properties at will, they have never done so and they never will, because they would kill themselves doing so (and someone else would take their place as difficulty adjusts)
"Devs cannot reach consensus". This fact only proves that it's indeed decentralized, everyone has different opinions, nobody can get what they want = decentralized, positive value, reinforces it as an immutable store of value.
"It's slow and expensive". Not really, specially now after Coinbase got their shit together with transaction batching and Ver stopped the spam, mempool is empty. Not that it matters if you use it as a store of value anyway.
"It's pegged to USD". Not really, if USD stopped existing, there would still be bitcoin, and the supply wouldn't change. People use USD for price because it's the (current) largest currency. It was not the case 100 years ago. Empires come and go.

[bobq]

I do not think like you. Bitcoin is not useless because you use with Bitcoin to buy alternative cryptocurrencies in almost all major crypto exchanges.

[Andrej Peiboski]

Of course bitcoin has some structural issues, and for sure they should be solved before bitcoin could be used as a general accepted currency.
But to say that it's useless it's a nonsense, as the whole cryptoworld is moving around it.

[Mihaylovic]

I can agree about it is not the best. There are already much better alternatives with better network size and transaction speed. But bitcoin is not pratically useless right now because it is dominating the crypto market.

[Cryptophorus Columbus]

Bitcoin is a young creature, so it has a lot of aspects that must be improved, and the list you've made is absolutely correct.
But this doesn't make bitcoin "useless": in the meanwhile the behind technology is getting better and better, you can use it for transactions and profit.

[vsyc]

I can agree about it is not the best. There are already much better alternatives with better network size and transaction speed. But bitcoin is not pratically useless right now because it is dominating the crypto market.

Not for long

[vsyc]

Already refuted a million times but here we go:

"Scaling issues". Not an issue if you treat it as digital gold cold storage.
"Not decentralized". Yes it is, the chinese or whoever has the most hashrate cannot change bitcoin properties at will, they have never done so and they never will, because they would kill themselves doing so (and someone else would take their place as difficulty adjusts)
"Devs cannot reach consensus". This fact only proves that it's indeed decentralized, everyone has different opinions, nobody can get what they want = decentralized, positive value, reinforces it as an immutable store of value.
"It's slow and expensive". Not really, specially now after Coinbase got their shit together with transaction batching and Ver stopped the spam, mempool is empty. Not that it matters if you use it as a store of value anyway.
"It's pegged to USD". Not really, if USD stopped existing, there would still be bitcoin, and the supply wouldn't change. People use USD for price because it's the (current) largest currency. It was not the case 100 years ago. Empires come and go.

1. Does not solve scaling issues
2. Nothing stops on miners, there are powers much bigger than them. That can turn the off. "someone else would take their place", or some else will just put hash power somewhere else.
3. It mean stagnation and Ice Age, no forward movement, no progress. It proves that it decentralized without consensus. Even though, to say it decentralized in this context very stupid.
4. You can use any Blockchain as store of value, do not see benefit of Bitcoin here.
5. You did not answer the question, what will be price of the pizza?

[feinter]

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.

I just totally agree with everything but the most important thing is that bitcoin start these whole fun and make crypto market alive, without it there won't be any other alts imo.

[kamike]

I just totally agree with everything but the most important thing is that bitcoin start these whole fun and make crypto market alive, without it there won't be any other alts imo.

When bitcoin was still at its early years we can consider this to be useless as there is no value yet but now that bitcoin plays a big part in our life then we can consider this as worthy and valuable just like how we value our house and a car unlike those early years that it is just considered as a token.

[grabpopcorn536]

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

With the current situation, Bitcoin is considered a valuable currency in the market; many people think that these coins are a foundation for the future and there are also many bad words about Bitcoin. As this year Bitcoin will end soon or end up unexpectedly.

[playboy654]

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

With the current situation, Bitcoin is considered a valuable currency in the market; many people think that these coins are a foundation for the future and there are also many bad words about Bitcoin. As this year Bitcoin will end soon or end up unexpectedly.

No,2018 is not going to be the end of the year the rumors are always there since bitcoin was created but now the bitcoin is the most expensive currecy of the world so it will continue to grow even the bitcoin haters spreading negativities about it.

[Warren Buffert]

By now we definitely have some use cases for bitcoin, just because you don't know them or don't find them useful doesn't mean bitcoin is inherently useless.

[Semleho]

Bitcoin is useless .... wow, .. i admire you for this problem .. cool: d
But more cool is us, who already pay attention to your proposal
One word from me.
I love bitcoin. For my reasons, bitcoin is more useful than others. Do bitcoin with your eyes, heart and mind.
Forgive me, if I am wrong.
Thank you

[Ctn]

By now we definitely have some use cases for bitcoin, just because you don't know them or don't find them useful doesn't mean bitcoin is inherently useless.

Sort of true. There are many around ways which can be used to see that how bitcoin can help us in the daily life. The most useful way to do it is by converting the whole stuff into fiat currency and thus making the use in daily life. I am doing this method of using the bitcoin since very long and it is most convenient way to do it.

I have seen many more threads in the forum which also list the number of hotels, motels, food industry, entertainment industry which use crypto currency as their payment mode. So I think it's unexpected call for the bitcoin that it's not useful.

[vsyc]

BTC transaction volume as-well going down, so, everyone realize that it just useless.

[ashahin7799]

Bitcoin is  useless, I do not believe it.Because, I have seen many people that they have been financially dependent on Bitcoin work.They even chose bitcoin as a profession.Besides, they are running bitcoin and supporting their families.So I think, do bitcoin useless it's a misconception.It is very valuable and has great importance.

[MuffinMaster]

Maybe now we can think like that but for me this is just a matter of time when bitcoin will be again the strongest coin with the biggest price nearly 20x more than the second coin.