Topic: Bitcoin is useless - page 12. (Read 3669 times)

All that, just so you could get cheaper Bitcoin? Well done to you OP, I hope you scooped up some 6k Bitcoin in early February you deserve it for your consistent work on this thread. Way to drive fear home into the minds of those who can't critically think. Don't need a white knight to save us though, just sell all your Bitcoins and somebody will gladly take them. I would bet a lot of money though, that you FUDDED hard publicly then privately scooped the dip. I say well played and incredibly smart of you, oh and on the off chance you believe all this. Way to eat the spoon the media has been feeding the mainstream!

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.

What ever constructive answer by many to response to your opinion that will always unnecessary on your personal view because it seems that you already embrace it. This is just my own comment base on what I understand to your post.

Whatever believe you had about bitcoin I think you points is not enough to say that bitcoin is useless, that fact that it is helping people and in other positive use about bitcoin, that will tell the truth that it is not useless. In every aspect the advantage and disadvantage is always go together. What only matters is if the disadvantage is play the big part rather than the purpose which make something the greatest advantage.

By now we definitely have some use cases for bitcoin, just because you don't know them or don't find them useful doesn't mean bitcoin is inherently useless.

With the current situation, Bitcoin is considered a valuable currency in the market; many people think that these coins are a foundation for the future and there are also many bad words about Bitcoin. As this year Bitcoin will end soon or end up unexpectedly.

For now, I think the best use for Bitcoin is just investing instead of transferring funds because of its fees and tat for confirmations.

I just totally agree with everything but the most important thing is that bitcoin start these whole fun and make crypto market alive, without it there won't be any other alts imo.

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:


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.

Already refuted a million times but here we go:

"Scaling issues". Not an issue if you treat it as digital gold cold storage.
"Not decentralized". Yes it is, the chinese or whoever has the most hashrate cannot change bitcoin properties at will, they have never done so and they never will, because they would kill themselves doing so (and someone else would take their place as difficulty adjusts)
"Devs cannot reach consensus". This fact only proves that it's indeed decentralized, everyone has different opinions, nobody can get what they want = decentralized, positive value, reinforces it as an immutable store of value.
"It's slow and expensive". Not really, specially now after Coinbase got their shit together with transaction batching and Ver stopped the spam, mempool is empty. Not that it matters if you use it as a store of value anyway.
"It's pegged to USD". Not really, if USD stopped existing, there would still be bitcoin, and the supply wouldn't change. People use USD for price because it's the (current) largest currency. It was not the case 100 years ago. Empires come and go.

I can agree about it is not the best. There are already much better alternatives with better network size and transaction speed. But bitcoin is not pratically useless right now because it is dominating the crypto market.