People spend time in bitcoin because it is an opportunity to earn in a fastest and easy way. It was proven by many people that there is a profit in bitcoin and others become rich through it. And i believe people doesn't think bitcoin as a waste of time rather a great opportunity to earn.
I agree, bitcoin is in fact a blessing to many people in getting their needs in life and even wants. Bitcoin had proven its worth for years now and I dont think it is a waste of time and effort. Bitcoin is worth the time and risk because it can help us improve our way of living.