Bitcoin is useless

[TheKeyLongThumbI]

I kind of agree on things you say and the longer it goes, I feel impatient on how bitcoin will end up. Bitcoin is becoming a global headline but it's still like a product that still needs a finishing touch. Maybe you are against with it but I still hope things will change.

[1714973356]

1714973356

[bhabygrim]

I don't really think that it is useless just because there is some issues in it.
We just have to remember that anything have it's pros and cons and bitcoin is not exempted from it.
So I think we just have to deal with it no matter what.

[tayecrypto]

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.

your points are genuine....but btc is not that useless

[odolvlobo]

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.

[Broonze]

which person is telling BTC is useless those people really dont know under value it and they want to destroy the market every time,those people need to do the things there doing, any field mislead people any where we can find.

This is the only thing that we can say about them because they must not be aware of bitcoin real value and importance. It can be say as lack of knowledge and information so if they must have knowledge they will accept the bitcoin as currency, investment. They really need proper guidance and information to share with them about bitcoin so they will like bitcoin and they will be agreeing to use it because bitcoin is life changer and future maker not a useless thing.

[Patadong]

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.

[thompson30]

Nope bitcoin is not useless. Because there are things that we can only achive through bitcoin. We can also get benefited by using this what we called bitcoin

[arthur25]

I think you got some point of what and why bitcoin is useless. Actually it was not totally as useless. If btc is useless why it is know in the world. The popularity become strong and well know in almost the country. It is useless if the person who have bitcoin use it in a wrong way or not using it anymore and forever.

[vsyc]

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.

The forum is 99% of Bots, and this is exactly what you get as answer: for money and hodl! Nothing else.

[vsyc]

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.

It is useless when something like PayPal exists (or regular wire transfers), again, may help some people including criminals but that is not the point. The blockchain regardless it is amazing it is just a database which is distributed and uses other technologies used by other people. Shit, like, with bitcoin you have to pay everytime you do a transfer and the electricity usage for mining is just ... non-sense.

The point is, just like Gold on its early stages lot of people profited from it and made others trust it then creating fiat money. So lot of people was forced to play an unfair game where there is no equality. Bitcoin did exactly the same, people hoarding them early and then asking for others to HODL so they can pump and dump and become even more rich (in dollars).

So really, Bitcoin at most, would be another fiat currency equally unfair for those entering the market at later game. And then, it is as unfair to society as the current banking system. It is not solving any financial problem but just fooling people into it with the hope that it can gain traction while insulting other coins that are pretty much clones of it.

• No scarcity: you can clone Bitcoin and there are hundreds of altcoins. So lot of blocks in the blockchain.
  Useless at the moment as a currency: you have to pay fees every time, and it is extremely slow. Little privacy as well as the ledger registers all transactions.
• No store of value: pump and dump asset, high volatility and no other value other than what the next guy is willing to pay for it.
  

Spot on

[ZIM17]

for your knowledge the bitcoin is important for most and for the sake of the OFWs to become able to trade money transfer it becomes easier to exchange money so this is why most OFWs use one more reason for me why he's important for me because I know that everybody's patience will be a big challenge for the past to love and make bitcoins valuable to them because of the amount of money you'll be lucky in the world of crypto currency.

[Wittycoin]

I don`t think bitcoin is useless because its a living for many people and it is where people earn big amount of profit, also some people have their lives changed because of bitcoin. Bitcoin become useless if you don`t know how to utilize it well, anything can be useless if you do not know how to use it properly for you to get benefit from it.

[josephpogi]

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.

Some people say that bitcoin is useless but for me they wrong.  We live this word having lots of new technologies for me bitcoin relly helps for fast and easiest transactions when paying bills and buying anything at the market.

[BTC-Market]

While the recent surge in bitcoin price is good news for many bitcoin investors, it should be seen as a death sentence for the functional value of bitcoin. As the price continues to reach new record levels, it becomes obvious that bitcoin is useless for anything else than speculation
Compared to government issued currencies, bitcoins wild ride proves that it lacks the necessary predictability to act as a currency; If we take off our tinfoil hats for a while we should acknowledge that currencies are regulated for a reason. To provide financial stability.
The more bitcoin prices surge due to its speculative value and increasing demand, the more useless bitcoin becomes as a currency. And as bitcoin becomes useless as a currency, it loses its intrinsic value as an asset.

[SonoCoin]

I see btc as a limited commodity.

[Kamote_1102]

I see your point.everything you said is the downside of bitcoin and it's true. However, we have different opinions.and for those people that has been helped by bitcoin, it is something useful to them. We have different needs. And there's no perfect business or crypto-currency such as bitcoin.but, if we're going to focus on the negative side, we will not see the advantages of it.

[Ad Baculum]

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.

The things you said that makes us fooled by bitcoin is just the exchange of benefits you can get here in bitcoin, you need to sacrifice things to get the things that can help you in the future.

[pluMmet]

Than I feel bitcoin it is useful to me, and my friend also feel it for bitcoin already provide income for me and it was out of my salary at work I, because it’s so I got extra income could help me meet the needs of my family and.
Bitcoin also has a lot of help change the people need to get an income of bitcoin

[Granxis]

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.

[Rufsilf]

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.