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

[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.

[Proty]

Bitcoin is actually worthless in the sense that it doesn't yield income like stocks.
Bitcoin isn't a good store of value as some people has claimed because a good store of value is supposed to have a stable value but this is not so with bitcoin.
Government regulations can affect bitcoin adoption there by restricting it not to be used in  countries were this regulations are made and making it to be worthless just like what happened in china.

[beerlover]

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.

The reason is because WE are the owners of it, and nothing else could be said the same. All the fiat, all the stocks, all the resources are owned by others and we are given a chance to be part of it we want to invest, but with bitcoin it's us that own it directly and nothing else comes even close.

Maybe if you own physical gold itself, because that way you would own it yourself and not be part of something, but with bitcoin it's a lot easier because it's digital and you do not actually have to own something physical to make that work. I know it is not going to be easy because it takes time for it to get there, but as long as we can trust ourselves and bitcoin then we are going to end up with a lot better return without a doubt.

[Joeboy]

The reliance of Bitcoin on the belief of the people makes it a very worthless.. Let say the belief that people have about Bitcoin begin diminishing today, this can lead to high sales, without a corresponding increase in buying, and this can seriously affect the price of Bitcoin making it more worthless than it has ever been.. Also Bitcoin volatility is another reason why it's so worthless, imagine keeping your money in Bitcoin only for it to be need e urgently to settle some things, volatility will make it very impossible to withdraw that same amount you put into Bitcoin. The value can depreciate so quickly, thereby making it very worthless for Bitcoin to even be used as a store of value or even as a medium of exchange...

[jossiel]

It is a worthless asset if someone doesn't know how to use a gadget or device.

And when things are hard to understand because it portrays not just one but various use cases like being a store of value, a currency and a retirement fund.

To them that don't understand it makes it worthless because there are so many dynamics that are needed to be understood by a normal guy.

Another reason is they're saying that Epstein = satoshi lol.

[kawetsriyanto]

Are you trying to make a research on how people view the bad side of BTC, mate?  


Well, if I must state about the bad side of BTC, I will focus on 3 points.

- It has no physical underlying such as Gold or another thing that has stable value

- There is no guarantee for the established demand in the future

- BTC price is too influenced by news/issues

[JimboToronto]

Bitcoin is based on mere mathematics, not on something as trustworthy as organized religion.

[philipma1957]

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.

The reason is because WE are the owners of it, and nothing else could be said the same. All the fiat, all the stocks, all the resources are owned by others and we are given a chance to be part of it we want to invest, but with bitcoin it's us that own it directly and nothing else comes even close.

Maybe if you own physical gold itself, because that way you would own it yourself and not be part of something, but with bitcoin it's a lot easier because it's digital and you do not actually have to own something physical to make that work. I know it is not going to be easy because it takes time for it to get there, but as long as we can trust ourselves and bitcoin then we are going to end up with a lot better return without a doubt.

I can't see that this applies to this thread.

So I quoted it and will read it again. It likely will go in the reject thread number 3.

It feels positive and for btc.

[vapourminer]

quantum computers and AI are gonna eat bitcoins lunch. combined, they will be able to toss blocks around like popcorn, and rewrite the blockchain to any depth at will.

[Doan9269]

You may be stuck at a point in time where you are unable to make a transaction, if the mempool is congested and you can't afford a higher fee to perform your transaction at that moment.

Another interesting point to raise here is the fact that if you are not tech savey, you may not be able to operate and use this digital network because it's require a little bit of being able to perform a transaction and also have knowledge about the network, know when to buy and sell, what to do and what to avoid and how to prevent from being scammed, so let me bluntly say it out that, an illiterate will definitely find it difficult to use Bitcoin.

[PhilosopherKing]

Real estate can generate rent, stock generates dividend, but bitcoin it has no intrinsic value and so cannot produce any any goods or service or physical income. It just sits there completely lacking productivity. And if bitoiners decide to stop demanding for bitcoin it relevance will just phase out if existence. I can see why Robert Shiller called Bitcoin a tulip mania 2.0. hahahaha.

[Sim_card]

Bitcoin blockchain is full of shit because you can store whatever nonsense you want on the blockchain like porn with OP_RETURN. Bitcoin blockchain has become a place to watch store and watch child porn.

Bitcoin is a scam and has made some investors run at big loss.

[Frankolala]

Bitcoin is a dark web currency. It's used for illicit activities by criminals. It's used to pay kidnappers, selling of drugs, ammunitions and for money laundering. Bitcoin isn't from the government which makes it a rat poison squared and a speculative bubbles.