Topic: Bitcoin has no role in real world (Read 6002 times)
Bitcoin is one of the part of every bitcoiners in their life. So in the new world bitcoin is a major part of financial structure of every bitcoiner or citizen of each countries. The financial stability of each and every citizen make impact on the countries financial condition,so it points that bitcoin have a great role in real world.
Yes, you can say as Bitcoin is still not widely accepted at offline stores so easily. And the main reason for this thing is that people are unaware of this thing and one who get aware are afraid of losing their money due to lack of proper knowledge. These things and many more really make us wonder when this Bitcoin will come to real use.
Bitcoin is playing an important role in my part of the world. It's a digital currency and I know quite a number of people who use it for their transactions
Yes it is because it is a digital currency which makes the world better,it can revolutionize the fiat system and the centralized banking system that is why it is better to have it,the altcoins are going to be the upgrade or the solution for the bitcoin's shortcomings which is why we need to expect more with these new altcoins in the market.
i don't believe this speculation about bitcoin are no role in real world, if put on your mind bitcoin helping to people giving hope in the daily routine in lives because bitcoin giving a lot of benefits for the people and helping to economy of every nation accept the bitcoin as currency using the volatile, example the role of bitcoin in world giving decent job for the jobless and if the nation or country are in troubles to provide the great job for his people bitcoin giving this and give good income.
Absolutely not. There are so many things bitcoin can do and contribute to the society if given the chance to excel and saturate. Bitcoin is a much awaited cryptocurrency. This could actually give way to people's hope for a cashless society.
I think that Bitcoin has no role to play in the real world affairs. There are some problems about it. Bitcoin does not provide controlled visibility . Fees are rooted in the design.
I don't think I agree with this statement.
Just tracing back from the history from past years, we can see that bitcoin is working and used by lots of consumer.
Blockchain and smart contract technology is something that is applicable to many things.
Bitcoin is relevant with people needs, and it serves a special role in this world.
Just tracing back from the history from past years, we can see that bitcoin is working and used by lots of consumer.
Blockchain and smart contract technology is something that is applicable to many things.
Bitcoin is relevant with people needs, and it serves a special role in this world.
who says btc is useless in the real world, in fact many people have changed their lives overnight because btc, now there are many public facilities that accept it as a means of transaction so that one proof, indeed for now only a few circles that can mersakan benefits but I am sure along with the growing popularity of crypto money, will be many people who can use btc optimally in their day to day life
Bitcoin is a new revelation and it has changed the face of banking sector. Though in its initial phase, this crypto currency has become an innovative payment system that is private and most importantly not controlled by any Government. You can send your payment to anywhere, anytime and any day. Dollar took some time to get foothold in the market and so bitcoin will also become popular with people in the real world too.
You are wrong, in fact Bitcoin actually has a big role in the real world, and this has been proven in various countries that have legalized Bitcoin. Bitcoin can be used as usual fiat money. if this Bitcoin does not have a role in the real world, then why Bitcoin is created.
I watched a documentary last night about cashless societies. From I realised that bitcoin can not replace fiat as an alternative currency, because bitcoin's value relies on fiat. If it wasn't worth $40000 it would be worthless, because its the fiat number that gives it value.
when bitcoin has no real-world role why bitcoin exists?
and now I still enjoy the bitcoin given to me, because bitcoin is real.
and now I still enjoy the bitcoin given to me, because bitcoin is real.
what makes you think that? bitcoin has changed a lot of lives quite a real people and how can we say that it does not matter in a real place?
It really don't have a certain role in real life for some people, but think on how much is it being adopted to the society, about its purpose and its importance to the future generations. It is really sure hard to adopt from changes, but what else can we do, people will really choose to find more easy way in life rather than those old conventional ways we've grew up with.
I think bitcoin plays important role in the world because it helps improve financial transaction and country's economic growth.
BTC has no role to play in the real world affairs. People who try to create such a role are confused between asset and currency. The design itself only considers pure virtual activity with no touch with real world. People also mistake the buzz words such as "peer-to-peer", "border-less", "decentralised" etc as the problems to be solved. But sadly these are not real problems. The insignificant problems (speed and fees) are hardly enough to sell and these problems are going away anyway. I have no respect to Nakamoto because he ignored the most important element (govt and authorities) in social situation and still want to sell it as some solution to social situations. Hardly any country has regulatory framework that deals with btc.
The problems are rooted in the philosophy of crypto, not in the code. So, the beauty of blockchain tech is irrelevant for btc. It is like selling a bad app by showing how great Android is.
1) Bitcoin does not provide controlled visibility, because it doesn't recognise the existence of governments. Now if you make changes to provide visibility to authorities, ALL privacy is gone. If you don't, then ALL visibility is gone.
2) Fees are rooted in the design. Whatever consensus you invent for a public blockchain, you can't escape rewarding the work of validating transactions. So zero fees are not possible.
Public blockchains sacrifice all good qualities of a business application for the sake of trust-less environment which is not even actually a problem to solve in many contexts. Also they make it extremely costly to run small amount of code or small storage. Who wants their business code to be validated by all arbitrary people in the world?
Most ICOs are sharing economy concepts similar to uber model. Lack of a responsible intermediary and costs will make these "innovations" to fail, if they ever have to touch real-world activities.
Bulk of the blockchain activity will move to business collaborations which might not even look like a blockchain. Crypto coins will be used in most business blockchains, but these coins will be value-less tokens and very specific to the business or institutional activity.
The problems are rooted in the philosophy of crypto, not in the code. So, the beauty of blockchain tech is irrelevant for btc. It is like selling a bad app by showing how great Android is.
1) Bitcoin does not provide controlled visibility, because it doesn't recognise the existence of governments. Now if you make changes to provide visibility to authorities, ALL privacy is gone. If you don't, then ALL visibility is gone.
2) Fees are rooted in the design. Whatever consensus you invent for a public blockchain, you can't escape rewarding the work of validating transactions. So zero fees are not possible.
Public blockchains sacrifice all good qualities of a business application for the sake of trust-less environment which is not even actually a problem to solve in many contexts. Also they make it extremely costly to run small amount of code or small storage. Who wants their business code to be validated by all arbitrary people in the world?
Most ICOs are sharing economy concepts similar to uber model. Lack of a responsible intermediary and costs will make these "innovations" to fail, if they ever have to touch real-world activities.
Bulk of the blockchain activity will move to business collaborations which might not even look like a blockchain. Crypto coins will be used in most business blockchains, but these coins will be value-less tokens and very specific to the business or institutional activity.
I think whether it has a role to play is not even a question any longer. If anything, people will look back and think of Bitcoin as the cryptocurrency that changed the way the world works. Whether you see it used in business or not at the current point in time is just about factually wrong.
There are Bitcoin ATMs, there are people currently using it at the moment, there are businesses created around Bitcoin. So, technically, it is already playing a role.
If I understand you correctly, you are stating that it will NOT play any future roles in business. To that point, I can maybe agree a bit more.
Businesses are interested in the technology, in the DLT: Blockchain. More so, permissioned blockchain. Why? Well, you have the best of both worlds. More control over the newest (most secure) tech in the world, poised to change the way we do business now and in the near future.
At the end of the day, Bitcoin will at least be the cryptocurrency that started it all. Sort of the 'shot heard 'round the world'.
Whether you believe in Bitcoin or not, it deserves its respect whether you take it from a business or strictly public/decentralized system for the individual.
My question however is, where are all the forums around blockchain? It seems that business is taking off with applying many use cases, yet little talk on forums about the technology.
I think it would be wise to focus on the technology as well and not just on the thing that currently is making you money. If the Bitcoin does fail, I'd hate to be left in the dust.
#my2pennies
Yeah good insights you have there thinking of bitcoin in reality. Some are just posting ideally that thinking bitcoin could be use in a form of payment, as a salary to be given by the parties that contribute labor, that establishment will accept bitcoin. However, these are only ideals and nothing has done before like what they have said and if there were incidents that happen like stated above then i guess both parties has the knowledge about bitcoin and they have also sign an agreement that about this kind of payment which is too difficult to assess since the price of bitcoin is volatile and everytime bitcoin market price will move. Yet, they are still thinking about it ideally. But then it depends upon the perception of the person. In my opinion bitcoin has become my savings where my spare money is put into form of bitcoin. And relatively i am also about it since somehow the money i invested in bitcoin has relatively increases for some percentage.
For the fact that that bitcoin has been a successful project and Satoshi's vision have been actualized and no one can deny that. Many countries are now accepting bitcoin. Some establishments, businesses, shops, and sites are also accepting bitcoin as payment for their services. Lots of people have invested and more are investing bitcoins and it have changed many lives, and still making more lives better, without a doubt.
People are thinking like thisbut nowadays along with the rapidly growing bitcoin in different parts of the world it is more recognizable and has this value in human life especially for those who are capable of using it. And I think if people will know how bitcoin really helps for those jobless and poor people they will also know how bitcoin affects to one person's life and also in real world. For me, people need to open their eyes for them to know the worth of everything.
Nowadays bitcoin is not popular enough but i think in future cryptocurrencies gonna replace paper money. At my opinion cashless world would be much more interesting.
You write too much in your mind It seems like you have a lot to learn about what bitcoin is You already misunderstood what bitcoin is.
Yes, there are some people like this. They don't know how Bitcoin works. They just buy and buy, the technology behind Bitcoin is blockchain which is very amazing and very big help for everyone. This technology is really powerful and let's hope blockchain will adopt by the people. Jump to: