Bitcoin is useless

[franzkie345]

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 with you bitcoin is not useless as long as it helps people. Whoever you are, we will not force you to like bitcoin because it will not change the fact that many of us here are benefiting from this cryptocurrency.

[1713586438]

1713586438

[1713586438]

1713586438

[pecson134]

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

I can't blame you if take that as your stand with regards to bitcoins. I can't agree 100% on your choice despite showing these cons of bitcoins and taking  it as an underdevelop system. It is just a several years old and just like other technologies they start from scratch and presented with some errors or problem but as time passes by they made some changes or progress to fix this issues and it is not just on a short span of time. If you think you are not getting good with bitcoins then you should decide to quit this activities pertaining to bitcoins.

[blitz18]

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 with you bitcoin is not useless as long as it helps people. Whoever you are, we will not force you to like bitcoin because it will not change the fact that many of us here are benefiting from this cryptocurrency.

The point is, why he still here if bitcoin is useless. Bitcoin has it's disadvantages that users may affected because of it's too long for transactions. I believe it will soon resolved for that matter, bitcoin has helping a lot of users mostly others become rich.

[floresjonathan123]

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.

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 people make lives better.

[bitcoinajax455]

Maybe bitcoin is useless to those people who have already what they need. Bitcoin maybe useless if you not use it. Bitcoin is useless to those people against it. But for those people seeking an opportunity, need extra income and to those people already know what i bitcoin, it is very important.

[korong ajem]

you are right this is an investment full of risk of loss but I am sure if we take care in keeping that we have then it will be fine

[vsyc]

I see just huge amount of bots in this thread telling "bitcoin is not useless", "bitcoin helps", "people work with bitcoin", "bitcoin made a lot of people rich" etc.

But noone of these shills was capable to define utility, something "how" it used and where is benefit.

Typical ponzi scheme, buy low sell high with a lot of shills.

[carlfebz2]

I see just huge amount of bots in this thread telling "bitcoin is not useless", "bitcoin helps", "people work with bitcoin", "bitcoin made a lot of people rich" etc.

But noone of these shills was capable to define utility, something "how" it used and where is benefit.

Typical ponzi scheme, buy low sell high with a lot of shills.

What would you expect? We do know that there are lots of people who do make shills without even minding if those claims are justifiable or not.Bitcoin is useless then why these people are still on this forum?They do tell about this thing when they do see that bitcoin fees are way too high but now we are already having almost free fee.The thing concerned on here is that bitcoin cant really be easily accepted to be in legal firm due to its feature(decentralized) thing but it doesn't mean that it is useless.

[dead_m92]

Well, it might be risky, but i prefer to have my money in cryptos instead of FIAT, we all know that we can get stolen and we lost everything, and this does not happen in cryptos if we have enough security for our money.

you are right this is an investment full of risk of loss but I am sure if we take care in keeping that we have then it will be fine

[jessequick]

Yes, maybe bitcoin is useless, but (excuse me, maybe it will sound cynical) who cares if we can make money on this?

[Dark Sky]

Yes, maybe bitcoin is useless, but (excuse me, maybe it will sound cynical) who cares if we can make money on this?

I think everywhere have many problems but we can solve it so don't take stress because it have a lot of benefits and that's why bitcoin is very important for easy life and its profit is not useless, it can make our future for our family, so those people who think that bitcoin is useless actually they didn't know its benefits.

[yslyv]

Okey we all know that bitcoin is not a perfect crypto currency but it is not fair to say bitcoin is useless. If they can manage lightening network it will be much more useful

[Blackmet]

Bitcoin is not useless and money that already invested saying the same. People ready to buy digital coins per $8K and sometimes even $20K i can't believe that bitcoin is usless when i'm seeing this.

[odolvlobo]

I see just huge amount of bots in this thread telling "bitcoin is not useless", "bitcoin helps", "people work with bitcoin", "bitcoin made a lot of people rich" etc.

But noone of these shills was capable to define utility, something "how" it used and where is benefit.

Typical ponzi scheme, buy low sell high with a lot of shills.

I agree with you (except that you are misusing the term "ponzi scheme"). They are imagining how Bitcoin might be useful, but nobody can come up with a way that it is actually used.

Yes, maybe bitcoin is useless, but (excuse me, maybe it will sound cynical) who cares if we can make money on this?

So say the parasites and scammers.

[canque31]

I see just huge amount of bots in this thread telling "bitcoin is not useless", "bitcoin helps", "people work with bitcoin", "bitcoin made a lot of people rich" etc.

But noone of these shills was capable to define utility, something "how" it used and where is benefit.

Typical ponzi scheme, buy low sell high with a lot of shills.

I agree with you (except that you are misusing the term "ponzi scheme"). They are imagining how Bitcoin might be useful, but nobody can come up with a way that it is actually used.

Yes, maybe bitcoin is useless, but (excuse me, maybe it will sound cynical) who cares if we can make money on this?

So say the parasites and scammers.

I don't believe that Bitcoin is useless. Maybe for some but for me it serves as my primary privider. Actually Bitcoin's salary from my current job. And that's why I don't agree with this. And I believe also that Bitcoin changes lives of my friends. They quit their jobs because of the help of Bitcoin.

[weblouartisan]

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.

If people are being fooled by cryptocurrency then why there are a lot of investors in the market today, slower transactions in the block chain will not be a problem anymore in the future because there will be advance technology in the future so obviously everything will be so much better and the community of cryptocurrency will grow even more.

[jessequick]

So say the parasites and scammers.

Why is that? Did I say that we can make money on bitcoin by deceiving someone? For example, I invested in bitcoin $1 in 2015, and today I have $25. Someone from this badly?

[theedm09ka]

this argument doesn't make any sense. you said bitcoin has no utility and thus it's useless. but here's the problem. all fiat currencies will also have no use if not forced by the governments. we are not the ones who dictate the rules. why do you use peruvian soles when you go to Peru and why not USD? because peruvian government force you to use soles and won't allow you to use USD to make any kind of purchase in the country. why do you use Euros and not USD when you go to germany? same answer.

A currency being forced to its people and thus they have value. That's literally the only reason why they have value. fractional gold reserve should have blown away the value of fiat if not manipulated by governments.

if it was up to a traveler like me, i would want everything to be in USD, as it would make my life much easier. But once again, they have value not because people like to use them, but because governments force us to use  fiats.

in context of currency, the only way for something to have value is if your government force you to use it. Thus, anything that is not forced, has no value. Using above example, peruvian soles only have value in peru and nearby south american countries (because you can trade in exchange services there), but bring the same soles to southeast asia, it would lose its value, because no forex service would accept soles. Does it mean peruvian soles have no value if not forced/used by peruvian government on peruvian people?

The same with PS4 games. if there's no PS4 gamer, what's the value of the game? $0. because nobody would buy it. people say for "entertainment" but entertainment is a very vague word as different individual has different definition of 'entertainment'. Thus, outside PS4 gamer community, PS4 game has 0 value.

Bitcoin is also the same. it has value because somebody else is willing to pay for it. outside crypto community where nobody is willing to pay for it, it's literally the same with PS4 game when you offer it to someone who doesnt play video game

[kuckong]

Everyone's thoughts must be different. You have such a thought is also not a problem. But with bitcoin many people are earning. Many are also successful because of bitcoin. With bitcoin the unemployed people can work. I think it's a positive value for them. And they must think that it is useful.

[fernandoaleixo]

I used cryptocurrency to buy online goods and invest in ICO with real-world assets, that only debunks your whole argument, and BTC having a "bad team" and "taking hours" to transaction doesn't make it useless, just less effective (as if the same doesn't happen with the regular stock market).