I propose that Bitcoin is a worthless asset. Please show why I am correct.

[Fiatless]

Bitcoin needs an Internet connection to be used. So those who live in areas where there is no Internet connection might not be able to use it. This could be a problem in times of emergency.

The inability to retrieve your coins if you lose your seed phrase is also a problem.  Many people have lost money because there is no way to recover their coins when the password or seed phrase is misplaced.

[Ambatman]

True decentralization is a myth
There's always some level of centralization in it.

Very simple My proposal is Bitcoin is worthless.

This thread is for arguments  against the value of Bitcoin.

Any thing in favor of BTC get deleted and placed in a third thread.

It fails to accomplish what it was created as
Many don't even use it as a medium of exchange
Crisis comes
Bitcoin falls
A supposed deflationary asset.

[STT]

Inversely bullish I like it   Bitcoin is not backed by heavy metals so cannot be of any use to the wider world especially not in this era of face to face commerce and slow trade transportation.
    If we have government larger then ever & able to write as much debt as it likes then the idea of any value beyond simply spending the nations wealth in advance becomes redundant, politics has proven entirely reliable and productive with perfect book keeping.

[CryptoYar]

[...]

Moreover, with Social Recovery wallets and MPC technology, risky single backup word model has been left behind and now the business is focused on getting back the money through the trusted friends or helpers in case of lost password.

I think biggest problem of Bitcoin is not technology, but lack of preparation. Setting up these Plan B tools now is what will make you strong user who cannot be taken offline by power cuts in area or even by simple issue of human mistake.

[crwth]

Without the people, it would be worthless, like any other asset, it's speculative. Any exchange could delist it, which would slow adoption.

If the miners leave, it will collapse!

Imagine having to pay and wait for minutes, hours, and days! That's not a suitable point-of-sale.

We all know that most liquidity sits on centralized exchanges, so it's not really decentralized.

[Dr.Bitcoin_Strange]

Since I started hearing about Bitcoin, it's just praises of Bitcoin that I have been preaching and what also gave me the courage to believe in Bitcoin is because other people (a whole lot of people worldwide) are also into Bitcoin and they invested with a huge amount of money, the fact that I trust Bitcoin is because others did and I have had profits from my investment as well, but asking me why I think Bitcoin is worthless, the answer is simple, realistically we are just believing in Bitcoin by "faith" And what is faith? Faith is having a strong believe or hope for something that you have never seen physically but you just believe it's real.

We only have faith in Bitcoin and that's not enough, so that makes it worthless.

[KiaKia]

Epstein has influence over Bitcoin, he was part of the funding of Bitcoin development.
Craig Wright is the true Satoshi Nakamoto.
Bitcoin mining is heavily reliant on fossil fuels.
We will run out of Bitcoin by 2040 because the supply is just too small for the whole world population.

These are my own reasons why Bitcoin is a worthless asset.

[philipma1957]

True decentralization is a myth
There's always some level of centralization in it.

Very simple My proposal is Bitcoin is worthless.

This thread is for arguments  against the value of Bitcoin.

Any thing in favor of BTC get deleted and placed in a third thread.

It fails to accomplish what it was created as
Many don't even use it as a medium of exchange
Crisis comes
Bitcoin falls
A supposed deflationary asset.

It fails as a deflationary asset due to the belief in four year cycles.
It is small enough to be yo-yo up and down by whales and large companies.

Ie a biggest pump and dump coin.


Basically  miners need

80k a coin today to break even and 100k a coin for profit.

in 2028

miners need

160k a coin to break even and 200k a coin for profit

in 2032

miners need

320k a coin to break even and 400k a coin for profit.

in 2036

miners need

640k a coin to break even and 800k a coin for profit.

in 2040

miner need

1280k a coin to break even and 1600k a coin for profit.

So in well under 20 years th supply of coins will be too small to be viable to mine.


Some time down the road the switch to scrypt is coming.

merge mine of LTC/Doge allows for endless supply of coins

a far better design.

And since every year x doge printed  it is a shrinking inflation percentage.

in year 100

x doge printed

inflation is x / 100k or 1%

in year 200

x doge printed

inflation is x/200k or 0.5%

a far far far far better idea for continuous operation

[Bitcoin_Budha]

Bitcoin is like plague its spreading and increasing problems for people even governments are also trying to ban this for the safety of their citizens. Just because of Bitcoin financial world is also feeling not good because its creating chaos many were expecting something positive but its having nothing good now I also want It's needed to be banned and no one allowed to be having use of this worthless crypto.
But I am sure no one will be agreed with me about this because many peoples already addicted and have no mind to leave this and have better life which is more important.