There are a lot of shenanigans, technical distractions and people spreading fear of missing out.
In reality it is pretty easy to understand why BTC is stupid:
That is all there is to it. BTC does not magically create wealth for all of us.
According to Bitcoiners, everybody could just buy BTC and become a rich and never needs so work again.
In reality every single $ that you get out of BTC, has to come from a bigger fool that put even more into BTC.
Let us use an analogy that makes it easy to understand. For simplicity, we start with a zero sum game.
We have the artist Picasso. He made 20 drawings of a dog.
He promises to never ever paint another dog picture.
So there are only 20 drawings worldwide.
Stewie, Chris, John, Megan, Peter all own 100$. We have in total 20 dog drawings, and 5 persons having 100$, so 500$ total.
The orange rectangle represents the "art ecosystem". It is a public blockchain,
visible for everybody.
Picasso is generous. He does not want any money for his pictures but gifts all of them to John.
Basically 20 dog drawings have entered the orange art ecosystem for free.
Stewie buys 10 dog pictures for 10$ each or 100$ total from John.
Stewie shills on Youtube and X how great dog drawing are.
Megan wan't to buy 5 drawings for 20$ each. She finds nobody that is willing to sell
for that price. Everbody believes in dog pictures, nobody sells and hopes for a higher price.
HODL!
She later on decides to pay go all in and pay 50$ each for two pictures from John.
Stewie sends one picture as a birthday gift to Peter.
We can stop this game at any time. If we stop it here, if you look at the result, we still have 500$ in total and 20 drawings. We did not magically create free money. All the money that went into drawings, came from other users.
That is a zero sum game.
BTC is even worse. BTC is a negative sum game because of mining using real power in the real world, that costs real money.
So in the first step, instead of us Picasso just giving the 20 pictures to John, he would only give a picture to someone who is willing to burn a 5$ bill for each drawing.
If we do the same transactions in that scenario, at the end we have this:
We have 400$ in total and 20 drawings. Sure, Peter has double the money but the in total it was a net negative.
This is a very simplistic example and BTC works a little bit different in reality, but the main point is still true, BTC is a negative sum game.