Bitcoin is useless

[Alalex]

Already many above explained that bitcoin is a cripto money investment, and we can make a profit by investing cripto money.

People who invest cripto money expect more profit from depositing cripto money investment deposits.

So bitcoin is very useful for everyone to invest digital bitcoin money.

Bitcoin is a digital money investment where everyone in the world can invest with bitcoin.

Because bitcoin price is very valuable for all bitcoin members of the world.

And for further development with cripto money everyone can give you the best advice or idea for future bitcoin development, which is useful for forum and the development of bitcoin digital money.

Surely the future will come and from now bitcoin very useful for us.

Bitcon will never be lost or useless bitcoin a very lucrative investment and very many who like to invest with bitcoin.

If there is no place to invest cripto money such as bitcoin and other cripto cripto currency money is also not there, the whole world must be like it once was, poverty lela the country's economy decline low and there are many other influences that will happen to all people in the world.

And let us help for the development of investment cripto money that is useful for all people in this world.

[chengyinoing]

I totally agree with you, but you're missing the point that there are a lot of people who are making a lot of money by investing in bitcoins, and I think that's why bitcoin is so popular.

I believe that the blockchain technology needs to be improved continuously. No matter which country is the first to use this technology, it can gain huge economic advantages.

[Bugsbey]

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.

You are so true. If BTC is a scam why is it that there are lots of us here? And why is that the people I known became rich because of this? There are lots of investors here that are living now in their decent homes and riding in their luxurious car. These are evidences that BTC is helping people and it is true!

[nightfury]

I don't think that those people who become millionaires because of bitcoin are being fooled by BTC. That sounds so ridiculous and for me, if bitcoin is giving you profit and makes your life better, then bitcoin is more than being so useful at all.

[really01]

Many people have no understanding of bitcoin. They only see that investing is profitable and they will invest. They do not even care where the profits come from. so many people were cheated.
We can also be like them, so always find out and validate the information before investing somewhere

[First77]

Bitcoin is an illusion of digital currency

[Crypto Vitriol]

Bitcoin still has many points to refine - like any new technology - before it can be used fluently.
But to say that it is useless seems to me really wrong.

[Farhan786]

Bitcoin may not be meaningless Bitcoin can still be helpful Many people are already benefited by working or investing. Because it is the best opportunity to earn money. For these things. Bitcoin will be pumped soon. And I'm happy to get a real life.

[jaysabi]

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.

This just isn't true. Plenty of governments have tried to make their currencies have value and aren't able to do so, so it's not because the government forces you to use a fiat currency that gives it value. Look at Venezuela right now, the government is forcing people to use the currency and the currency is worthless no matter how much the government says it is worth. A fiat currency has value then not because the government says it has value, but because the people believe it has value. The difference between the USD and the Bolivar is only that people believe the USD is valuable and they do not believe the Bolivar is valuable. In both instances, the governments have said this is the currency and it has value, but it only actually has value in one of these cases, which proves that it's not because the government forces people to use it that gives the currency value. The key element is confidence in the currency. People don't trust the Bolivar, but they trust the dollar, therefore they consider the dollar valuable.

[rainezerr]

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 reason why you keep on complaining is that, you only see the bad things about the system that will not even matter in the future because the technology is keep on growing so we can expect an enhancement in the system that will satisfy us in the future transactions.

[bearexin]

Bitcoin will never be useless because it still has its value. I'm sure that the value of bitcoin will last for a long time because it is the king of Cryptocurrency.

Bitcoin will remain the king of the crypto currency and we will see it but here I just want to say that nothing in this world is useless it all depends upon what all features and opportunities that specific thing is offering and how much demand is in the market. Right now bitcoin is the only currency which is offering trade, profit and block chain methodology. So till the time people are using it, it is not useless but when everyone will leave this thing (which seems impossible) then you can drop it too.

[long8899]

i think bitcoin is useless when spending it or treating it with food or other things. but it is not useless to make an investment.

and these two purposes are conflicting with each other.

say an ice cream worth 1 bitcoin, then next day the ice cream worth 0.1 bitcoin. how can you use bitcoin to buy things? you will always hestitate

[Ismat Morshed]

That is not right.It is wrong.Bitcoin can still be helpful Many people are already benefited by working or investing. Because it is the best opportunity to earn money.Bitcoin is giving you profit and makes your life better, then bitcoin is more than being so useful at all.So,to say that it is useless seems to me really wrong.It is useful and helpful Cryptocurrency.

[jeremypwr]

GTFO of here if you truly think this,  I mean you're on a Bitcoin forum!!
Useless is a harsh word to describe something, and BTC is way too technologically advanced to claim it has zero uses.

[vudeptraihpv]

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.

People said Bitcoin is useless because they don't understand about it.
I will give you some Benefits of Bitcoin to see that bitcoin is not useless.
Bitcoin has numerous benefits and advantages over using localized currency; we will discuss some of the biggest advantages.

 - Irreversible Transactions
As existing merchants will be well aware, when accepting credit card payments, or even bank payments the sender has the ability to reverse or “chargeback” the payment.  There is nothing worse than sending products to a customer, only to receive a message that the payment has been reversed, you have been cheated and there is nothing you can do about it.

Bitcoin is the only payment method that is 100% irreversible and cannot be charged back.  For this reason you should be careful when sending Bitcoins; be sure that you are sending them to a trusted vendor.

 - No Paperwork
Anyone, from any country, of any age can accept Bitcoins within minutes.  There is no ID card, passport or proof of address that all conventional banks required to open an account.  All you need to do to start sending and receiving Bitcoins is to download a Bitcoin Wallet program and generate a Bitcoin Address.

You could have 1000s of different addresses if you wanted, there is no limit to the number of Bitcoin Addresses that you can have.

 - Appreciating Value
As you can see from the Bitcoin exchange value graph shown on our homepage, the value of Bitcoins were initially highly volatile during the first few years of it’s inception, however during the last 6 months the currency has stabilized and has been steadily increasing in value on a daily basis.

 - Quick and Cheap Transactions
When making a Bitcoin transfer the fees are extremely low compared to conventional methods of moving money.  A normal Bitcoin fee is 0.0005 BTC per transfer, whereas with a typically international wire transfer you could expect to pay 700THB-1300THB per transaction.  Accepting credit cards will generally cost 3-5% of the transfer amount, which again is much more expensive than a Bitcoin transaction.

International wire transfers can take from a few days to more than a week, whereas Bitcoin transactions are generally confirmed with an hour.

[supercanada1]

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.

My friend bitcoin is not useless because many people really deserve to be a wealthy elite because of bitcoin and the crypto currency that most effective in online income.

Whosoever is working hard and giving a lot of time to crypto market trying to understand how the market works and are supporting bitcoin, I don’t think so there is anything that makes them ineligible for not becoming rich with bitcoin. Bitcoin is paying them off for their hard work. They are not at least scamming others or robbing people off their possessions for becoming wealthy. They deserve it.

[jaysabi]

- Irreversible Transactions
As existing merchants will be well aware, when accepting credit card payments, or even bank payments the sender has the ability to reverse or “chargeback” the payment.  There is nothing worse than sending products to a customer, only to receive a message that the payment has been reversed, you have been cheated and there is nothing you can do about it.

Bitcoin is the only payment method that is 100% irreversible and cannot be charged back.  For this reason you should be careful when sending Bitcoins; be sure that you are sending them to a trusted vendor.

This is not as big of a benefit as people claim. All this does is shift all the power from the consumer to the merchant with no mediation in the middle that exists in the current system. Now merchants can rip off consumers by sending them faulty products and leave consumers with no recourse. The reversibility of payments in the current system allows for mediation for disputes, which will wholly disappear under a system where there is no reversibility. People who scam the current system get banned from the payment platforms. It's not perfect, but it's better than a system where there is no mediation required like Bitcoin would usher in.

- No Paperwork
Anyone, from any country, of any age can accept Bitcoins within minutes.  There is no ID card, passport or proof of address that all conventional banks required to open an account.  All you need to do to start sending and receiving Bitcoins is to download a Bitcoin Wallet program and generate a Bitcoin Address.

You could have 1000s of different addresses if you wanted, there is no limit to the number of Bitcoin Addresses that you can have.

This is a legitimate benefit, although I would expect KYC laws to apply to Bitcoin. There's no benefit in allowing pure anonymous transactions, we don't live in a world where that will turn out well for anyone.

- Appreciating Value
As you can see from the Bitcoin exchange value graph shown on our homepage, the value of Bitcoins were initially highly volatile during the first few years of it’s inception, however during the last 6 months the currency has stabilized and has been steadily increasing in value on a daily basis.

Nope. Not only is the value in a long term down trend, but it is highly volatile on the way down as well. Volatility hasn't leveled off. The unstable price is the biggest detriment to Bitcoin being used a currency. Even appreciating value is bad for the economy because it incentivizes people not to spend and reduces economic activity. Bitcoin isn't a suitable currency, and it probably never will be, for commerce.

- Quick and Cheap Transactions
When making a Bitcoin transfer the fees are extremely low compared to conventional methods of moving money.  A normal Bitcoin fee is 0.0005 BTC per transfer, whereas with a typically international wire transfer you could expect to pay 700THB-1300THB per transaction.  Accepting credit cards will generally cost 3-5% of the transfer amount, which again is much more expensive than a Bitcoin transaction.

International wire transfers can take from a few days to more than a week, whereas Bitcoin transactions are generally confirmed with an hour.

Quick, yes. Cheap, sometimes. There was a one year period where it wasn't even competitive with traditional wires, and because Bitcoin hasn't even solved the scaling issue, wider adoption will bring back the cost issue. Plus, the more halvings we have, the more fees miners will demand to process transactions to keep their revenue up, so unfortunately it seems cost of transactions is only going up over time.

[Markupoltit]

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 can nit say that butcoin is useless, because we use bitcoin everyday and by using a bitcoin everyday is a way to earn a lot of money, even if there is a lot things that we must do by earning a bitcoin, it's just okay, because it can also help us to our needs daily.

[rickyNmorty]

We respect your own point-of-view. However, it seems to me that you only focused on the disadvantages of bitcoin and didn't put into consideration the advantages of bitcoin itself. Only considering the advantages far outweighs the disadvantages you have focused on in my opinion.

[sharted]

But after Lightnings Network,the transaction of bitcoin is 20-30 minutes.After this the transaction fee of bitcoin is reduced  to half of previous fee.
Bitcoin is the decentralized digital currency and not a centralized one.This is the one of the main features of bitcoin.