The only thing bitcoin has going for it is "decentralised", without that premise it would be pretty mush bullshit.
So you're saying without decentralization it's about par with your opinion?
Ad-Hominem attack detected. You loose by default.
But seriously. What is the advantage of using some "bockchain" vs. a simple database transaction?
Blockchain is bloody expensive and slow. Database is quick and efficient and cheap.
"Hot wallets" cannot be backed up. In case of an instrusion any theft is permanent.
Bitcoin prooves that a decentralised payment system is possible. But without decentralisation it is pure bullshit.
So, please provide information what BTC provides over a centralised system.
The following dont count:
* Fixed monetary supply.
Reason: The "share holders" (and that happen to be the miners) decide what transactions are legit. Higher fees and/or further output of coins are possible if the mayority of miners collude.
* Anonymity:
Bitcoin never was anonymous. It was pseudonymous. If or how many mixing pools are operated by gov institutions is up for debate, but even if it hasnt been done before it it highly likely law enforcemant will target money laundry (and face it, that pretty much the definition of "mixing pools")
So, please do tell me why bitcoin is better than "PayPal", "PerfectMoney", etc..
