Is Twitter A Waste Of Time?

It depends... but I would say this infographic is definitely a waste of time.

When you treat it as a microblogging platform, yes.

Twitter isn't useful as a microblog. Twitter is useful for interacting with your internet friends from the blogosphere. It's how you text people before you trade cell phone numbers. I found this particularly useful when trying to meet up with people for the first times at conventions and Meet-n-Greets.

Really, problogger is on Hacker News? Someone slap me.

Yes