Bitcoin is useless

[vsyc]

If you now said bcash is the real thing, and that it's the only crypto that could be used as a payment system or a currency, I would say you are working for Roger Ver. As a Sr. Member you should be here for a while, so you had enough time to make some research about crypto and bitcoin, but you are either going to the wrong sources, or you didn't understand anything you've read.

You are entitled to your opinion, but you are wrong in most of the aspects of your analysis.

You say it has no value or use, but lets compare it to fiat. Fiat might have an enormous amount of liquidity, is backed by governments and it's well established worldwide. It's our traditional financial system but although it might seem stable, we do see come big crises now and then, simply because people can just borrow money from banks, and since there is no max supply, there is the risk of hyperinflation, and it does happen. Just look to Venezuela now. This happens because our financial system is broken, but we don't really have an option.

Bitcoin on the other hand, has a limit supply, just like gold, but it's easier to use, it's much more secure than fiat and can't be forfeit (and you don't need banks to verify this for you), and isn’t confined by borders of countries. Bitcoin is is independent, robust and most importantly, decentralized. It's price can't be influenced by banks or govern politics, and this makes it much more reliable than fiat.

You are correct about fees and txs taking a while to confirm, but this is where your research is probably failing you. The lighting network has the potencial to solve these issues, and it's close. A lot of users are testing it on the main net, and we even have universities that are committed to put the LN to the test, so we will see it soon, and right now things looks promising.

https://bitcointalk.org/index.php?topic=2784564.msg28574299#msg28574299

As soon as everything is up and running, we will see more stores using it, adoption will grow, BTC will get more stable, and it will not just be used for payments, it will actually have the potencial to replace fiat.

Maybe we will never see all this happening, but it has the potencial for that, and you can't deny it.

Your propaganda is simple copy/paste, no critical thinking. Every code has a maintainer, every system has a maintainer. Everything is maintained, and this is very true centralized aspect of every system with no exclusion.

[1714901187]

1714901187

[1714901187]

1714901187

[1714901187]

1714901187

[1714901187]

1714901187

[1714901187]

1714901187

[kier010]

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.

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.

well bitcoin have a lot of supporters and the most popular in cryptocurrency. it is proven that many benefited in it and became millionaire. bitcoin have flaws we can't deny that because it is the first to be created but still people accept it and use it.

if you say bitcoin is a scam then stay away from it. i see your account is made for the sole purpose of supporting that "coin" and to bash bitcoin and other altcoins. everyone have its own opinion and they can think and they respect bitcoin and other altcoins but what you got is a broad minded thinking blindly supporting that "coin".

[Nick Abimanyu]

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.

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.

It seems like you are being hurt with this condition, or maybe you`re a person who is having a crop failure.
Just be honest what you say is true, as there are 'high transaction fees' that haven`t been resolved yet, and it did really interfere with my trading activity in bitcoin. If bitcoin like this forever, maybe I will 'swerved' and steer the vehicle to the altcoin track.

[vsyc]

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.

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.

well bitcoin have a lot of supporters and the most popular in cryptocurrency. it is proven that many benefited in it and became millionaire. bitcoin have flaws we can't deny that because it is the first to be created but still people accept it and use it.

if you say bitcoin is a scam then stay away from it. i see your account is made for the sole purpose of supporting that "coin" and to bash bitcoin and other altcoins. everyone have its own opinion and they can think and they respect bitcoin and other altcoins but what you got is a broad minded thinking blindly supporting that "coin".

Everyone is blind just because Bitcoin made other millionaires, this is why it useless, no-one gives a shit about how it can be usefull, 99% thinks about become millionaires, but bitcoin, put into cold wallet and wait. Typical ponzi game. Where is the use?

[Bonsaiav]

I understand with your word or judgment of bitcoin and it's your right completely.
For me personally, the main obstacle to my trading is the high cost of the transaction to be paid, and my trading plan becomes chaotic. Currently I`m lazy to run trading in bitcoin, and move it to the investment section while waiting for the price to change, hopefully the price will move up, Amen.

[vsyc]

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.

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.

It seems like you are being hurt with this condition, or maybe you`re a person who is having a crop failure.
Just be honest what you say is true, as there are 'high transaction fees' that haven`t been resolved yet, and it did really interfere with my trading activity in bitcoin. If bitcoin like this forever, maybe I will 'swerved' and steer the vehicle to the altcoin track.

I am no hurt, and transaction fee is just small problem that could be ignored. You are traded, so you ride waves until they come.

[mrcash02]

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.

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.

well bitcoin have a lot of supporters and the most popular in cryptocurrency. it is proven that many benefited in it and became millionaire. bitcoin have flaws we can't deny that because it is the first to be created but still people accept it and use it.

if you say bitcoin is a scam then stay away from it. i see your account is made for the sole purpose of supporting that "coin" and to bash bitcoin and other altcoins. everyone have its own opinion and they can think and they respect bitcoin and other altcoins but what you got is a broad minded thinking blindly supporting that "coin".

It's true, Bitcoin is a great success today because its supporters, that are many. And if they support Bitcoin it's because they are satisfied with the results we have today or because they still see a big potential on this currency. I don't understand why OP blames Bitcoin as it was the first and original Crypto-Currency, that united many people around a new conception of financial system. He should be proud of this...

If he wants so many guarantees and fast solutions he should use fiat instead of Bitcoins...

3. Development team sucks, uncapable solve scalability issues for years

In a decentralized system, changes take more time to happen as there are many disagreements, there isn't a central authority to say "we will do this or that, dot". What annuls OP's fifthy point: "It's centralized".

[ZenRoy]

I agree that it's not safe to put in large amounts of Bitcoin especially in online wallets since it's not insured... This does apply to all cryptos though...I would just rather invest some amount in Bitcoin just so I wont miss the ride if any.

[vsyc]

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.

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.

well bitcoin have a lot of supporters and the most popular in cryptocurrency. it is proven that many benefited in it and became millionaire. bitcoin have flaws we can't deny that because it is the first to be created but still people accept it and use it.

if you say bitcoin is a scam then stay away from it. i see your account is made for the sole purpose of supporting that "coin" and to bash bitcoin and other altcoins. everyone have its own opinion and they can think and they respect bitcoin and other altcoins but what you got is a broad minded thinking blindly supporting that "coin".

It's true, Bitcoin is a great success today because its supporters, that are many. And if they support Bitcoin it's because they are satisfied with the results we have today or because they still see a big potential on this currency. I don't understand why OP blames Bitcoin as it was the first and original Crypto-Currency, that united many people around a new conception of financial system. He should be proud of this...

If he wants so many guarantees and fast solutions he should use fiat instead of Bitcoins...

3. Development team sucks, uncapable solve scalability issues for years

In a decentralized system, changes take more time to happen as there are many disagreements, there isn't a central authority to say "we will do this or that, dot". What annuls OP's fifthy point: "It's centralized".

I do not see success, I see price where traders can benefit, but still point #5 and #6 is failing.

[burner2014]

We are here not only for a reason to become rich or to earn money, we are here because we believe in changes and to strengthen the cryptocurrency world, if some would just discriminate or even give a negative feedback without enough proof and a purely mere accusation about it then how we are able to encourage some of the people to invest as well just like we are doing right? Remember, we are the one creating value in crypto currencies.

[vsyc]

We are here not only for a reason to become rich or to earn money, we are here because we believe in changes and to strengthen the cryptocurrency world, if some would just discriminate or even give a negative feedback without enough proof and a purely mere accusation about it then how we are able to encourage some of the people to invest as well just like we are doing right? Remember, we are the one creating value in crypto currencies.

Point #3 is your friend. Encourage to invest? At current state you encourage people to replace you in bag holding.

[vsyc]

Just a question: How many of you run full clients? How many people have enough knowledge to run full clients? How many people will be willing to run 1TB client?

[bosede1]

As often said everybody has the right to freedom of speech so you can say your point on any issue. But I can bet with you if you are among the the few people who invested in bitcoin early enough and has become a millionaire you won't be here todayay posting the subject you just did. Everything on earth has its pros and cons I know you get this.

[Maestro75]

I quite agree with you on numbers 1, 2 and 4. Those issues raised there are considerable and without doubt will soon be solved. But your 7 and 8 are not only bitcoin specific problems. It also happens with fiat, especially number 8. Shit happens and people do also lose their fiat in banks or robbed on their way from banks. Nothing is totally insured in life, not even life itself.

[KaffkaN]

I fully agree with the author of the post. I have been claiming this for 2 years, but everyone insults me.

[khaled0111]

1. Transactions takes hours
2. Fees are high

Maybe true but there are some temporary solutions like Lightning Network and SegWit.

3. Development team sucks, uncapable solve scalability issues for years

Bitcoin is open source any one can contribute to improve it. SegWit also can solve the scalability problem.

4. Its not anonymous, every solution to make it, failed so far

Who is Satoshi Nakamoto?

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.

I don't agree with previous arguments, many users gained a lot from Bitcoin, and no one can have access to your wallet so you are the only one responsible for what happens to your money.

[mrcash02]

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.

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.

well bitcoin have a lot of supporters and the most popular in cryptocurrency. it is proven that many benefited in it and became millionaire. bitcoin have flaws we can't deny that because it is the first to be created but still people accept it and use it.

if you say bitcoin is a scam then stay away from it. i see your account is made for the sole purpose of supporting that "coin" and to bash bitcoin and other altcoins. everyone have its own opinion and they can think and they respect bitcoin and other altcoins but what you got is a broad minded thinking blindly supporting that "coin".

It's true, Bitcoin is a great success today because its supporters, that are many. And if they support Bitcoin it's because they are satisfied with the results we have today or because they still see a big potential on this currency. I don't understand why OP blames Bitcoin as it was the first and original Crypto-Currency, that united many people around a new conception of financial system. He should be proud of this...

If he wants so many guarantees and fast solutions he should use fiat instead of Bitcoins...

3. Development team sucks, uncapable solve scalability issues for years

In a decentralized system, changes take more time to happen as there are many disagreements, there isn't a central authority to say "we will do this or that, dot". What annuls OP's fifthy point: "It's centralized".

I do not see success, I see price where traders can benefit, but still point #5 and #6 is failing.

Traders benefit from Crypto-Currency's prices in general. And after a day's work the profit is converted to fiat or Bitcoin... (A good part of it at least). Without Bitcoin there woulnd't be any other AltCoin at this point. Bitcoin is the original, the first one, it's normal people have more confidence on it than on any other AltCoin, right?

If Bitcoin succeeds (that is what it's happening), many other Crypto-Currencies can succeed as well (as we can see some solid AltCoins already).

[kevin go]

Bitcoin`s price has gone out of reach of common investors. Bitcoin`s volatility has increased a lot as a result many investors are avoiding bitcoin currency. Transaction settlement time and settlement charges are also increasing. Some countries are trying to regulate bitcoin currency; if they get successes then people will lose interest from bitcoin. If all these things continue and bitcoin community fails to take a note of it, bitcoin`s popularity will go on diminishing, and one day it will become useless. 

[vsyc]

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.

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.

well bitcoin have a lot of supporters and the most popular in cryptocurrency. it is proven that many benefited in it and became millionaire. bitcoin have flaws we can't deny that because it is the first to be created but still people accept it and use it.

if you say bitcoin is a scam then stay away from it. i see your account is made for the sole purpose of supporting that "coin" and to bash bitcoin and other altcoins. everyone have its own opinion and they can think and they respect bitcoin and other altcoins but what you got is a broad minded thinking blindly supporting that "coin".

It's true, Bitcoin is a great success today because its supporters, that are many. And if they support Bitcoin it's because they are satisfied with the results we have today or because they still see a big potential on this currency. I don't understand why OP blames Bitcoin as it was the first and original Crypto-Currency, that united many people around a new conception of financial system. He should be proud of this...

If he wants so many guarantees and fast solutions he should use fiat instead of Bitcoins...

3. Development team sucks, uncapable solve scalability issues for years

In a decentralized system, changes take more time to happen as there are many disagreements, there isn't a central authority to say "we will do this or that, dot". What annuls OP's fifthy point: "It's centralized".

I do not see success, I see price where traders can benefit, but still point #5 and #6 is failing.

Traders benefit from Crypto-Currency's prices in general. And after a day's work the profit is converted to fiat or Bitcoin... (A good part of it at least). Without Bitcoin there woulnd't be any other AltCoin at this point. Bitcoin is the original, the first one, it's normal people have more confidence on it than on any other AltCoin, right?

If Bitcoin succeeds (that is what it's happening), many other Crypto-Currencies can succeed as well (as we can see some solid AltCoins already).

Days work? What work? People now have confidence in other coins more than in Bitcoin, there is no measure here to tell % wise. And again, Bitcoin succeed in what? Its very naive to sit and think that everyone expects Bitcoin to succeed and than only alt coins will do.

[KwizatzHaderach]

Bitcoin is not useless as long as people use it as storage of value.
Fees and scalability issues can be fixed over time.

There have been a lot of same criticism against bitcoin but in the end it is still going to be surely an asset class in the next few years.