If in abundant supply, Blacker Lotus has a place in every deck and is often strictly better than Black Lotus.
Blacker Lotus can also be used in conjunction with copy effects and control-changing effects in order to rip up your opponents' cards. This strategy is made significantly more threatening with the inclusion of Mindslaver and Richard Garfield, Ph.D., which allows you to play most of your opponents' instant and sorcery cards as permanents. With Research and Isochron Scepter, you might thin out your opponents' collections considerably.
Tearing a card into pieces is an ownership-changing effect. For rules purposes, nobody owns a card once it has been torn to pieces. This does not affect legal ownership.
Frequently Asked Questions
If an opponent takes control of my Blacker Lotus, is there any way I can stop him or her from ripping my card?