Bitcoin is useless or is it? - page 10.

Anegg

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Quote from: loiterin9 on May 14, 2017, 03:06:01 AM

With transaction costs rising above $1 the original promise of cheap remittance using Bitcoin is officially dead. Without utility Bitcoin use is limited to speculation only and even further what is there to speculate about?

I would like to debate this and gauge the community's response to Bitcoin experiment.

How is Bitcoin useless? People are using it every single day and they aren't complaining. The transaction costs are also over 1 dollar and Bitcoin is definitely not dead. Just look at the price and you will see that.

virtualkeybuyer

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For international transactions the fees is still very fine. If you will send your money to any other country of the world through bank or any other payment way like western union then you will pay high fees than bitcoin.

hisuka

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Even bitcoin with a high fees or slow to confirm the transaction bitcoin is still useful. As this is the most use as the global digital online money. With its easy to use, easy to access and easy to manage most use is the bitcoin.

Distinctin

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Quote from: radamiel on June 05, 2017, 01:15:07 AM

To me, bitcoin is very usefull, usefull for everything, be it fast and secure transactions, easy to open accounts in exchangers and many more advantages, the existence of this forum I think is used to find many more good that can be obtained from bitcoin

To the majority of people who knows about bitcoin there answer will be bitcoin is useful, this will not only help us make money
but it could also be use for a faster transaction. I gamble with bitcoin and it's useful to me as it is a means for me to be entertain.

cafucafucafu

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Quote from: loiterin9 on May 14, 2017, 03:06:01 AM

With transaction costs rising above $1 the original promise of cheap remittance using Bitcoin is officially dead. Without utility Bitcoin use is limited to speculation only and even further what is there to speculate about?

I would like to debate this and gauge the community's response to Bitcoin experiment.

There is already a lot of debating going on about this topic.

I believe that bitcoin still has a lot of usages. Global money remittance is still cheaper with bitcoin than with international bank transfers, Western Union or Moneygram which all take a cut off your transaction. Bitcoin takes a flat fee.

This means that if you are transacting big amounts, bitcoin is still a good thing to use. I forgot to mention also that bitcoin could be the only form of free market currency some people are entitled to hold in certain countries.

radamiel

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To me, bitcoin is very usefull, usefull for everything, be it fast and secure transactions, easy to open accounts in exchangers and many more advantages, the existence of this forum I think is used to find many more good that can be obtained from bitcoin

deisik

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Quote from: comp on June 04, 2017, 03:35:46 PM

Quote from: deisik on June 04, 2017, 02:19:33 PM

Quote from: comp on June 04, 2017, 12:41:33 PM

Bitcoin is indeed useless. I sold my stash after holding on for a long time. Don't want to be to greedy at the moment because the limited extra bucks to be made before the big bubble burst is just not worth the risk anymore. The titanic will sink no matter what people will tell. There is a lot of noise by people wanting to squeeze that extra $ out of their investment, but in the end the bubble pops. So I've chosen to exit, before the stampede (which will cause a technical crash on itself) Bitcoin = speculation (and part religion), for practical use you need to look at the coins 2.0.

Indeed it is useless for you now

Since useless basically means of no use, and Bitcoin is of no use to you after you have already sold all your coins. Moreover, if Bitcoin continues to surge and consistently break ATH's as it has been doing since the beginning of this year, it will be of even less use to you, because all what will be left to you is watch how Bitcoin climbs higher and higher. It is not that Bitcoin is useless on its own, it is more your never realized profits (especially those which you won't earn) that will make it so. Anyway, the shills' club seems to be overcrowded already by now, so you may have to just stick around here for the time being

Oef...resembles much like an response to an attack on the church of bitcoin. Don't become overly religious about the bitcoin. A virtual something which value is propped up by the herd. The so called virtual gold. It's a fantasy. It once was a dream, about decentralized whatever for the people....it has become useless, nothing else than for fun and profit. Let's see for how long the music keeps playing on a sinking titanic. Then make room for ideas that really add something of value to the world, something with a better future. Such a transition is always hard for vested powers. I totally understand that all will be done to keep the boat afloat with message like "we go to the 10.000. Delusion is the last part of the game

You seem to have a bunch of replies ready

I'm curious if anyone sees how little my post has to do with what can be considered as "a response to an attack on the church of Bitcoin". I don't know about you, I don't know about fun, but profits do matter a lot to me personally. Maybe, you are a multimillionaire (though I doubt), so you could hypothetically claim that profits mean nothing to you. But that would be even more suspicious since millionaires know a lot and care a lot about profits. And it is certainly not the case for the majority of players here

De Suga09

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The bitcoin?These bitcoin is very usable and has a big purpose in our economy and has a very big use to our world.Many of people knows bitcoin didnt want to find about it.So for us it is very usable but for the others didnt know it is useless

jakelyson

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Quote from: findingthemoon on June 04, 2017, 08:00:05 PM

Quote from: BitcoinzB on June 04, 2017, 01:37:51 PM

Bitcoin is definitely not useless as OP claims it to be; yes, the fees are getting really high but I'm confident there will be a change in the way transactions work very soon (which hopefully will drop the mad fees)

Well here is where the problem lies, what if the current impasse between segwit and BU or bigger blocks doesn't lead to a real solution. In this scenario if bitcoin keeps rising in price so will the transaction fees and I wouldn't be surprised to see them go to above $10 per transaction, something which would ruin 90%+ of the current usage of bitcoin.

It is supposed to hasten the confirmation time so higher fees is not needed anymore. But you are right, there is still a possibility that it is not the solution and high fees may come back. We have to trust the devs to find a new solution if these ones won't work.

findingthemoon

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Quote from: BitcoinzB on June 04, 2017, 01:37:51 PM

Bitcoin is definitely not useless as OP claims it to be; yes, the fees are getting really high but I'm confident there will be a change in the way transactions work very soon (which hopefully will drop the mad fees)

Well here is where the problem lies, what if the current impasse between segwit and BU or bigger blocks doesn't lead to a real solution. In this scenario if bitcoin keeps rising in price so will the transaction fees and I wouldn't be surprised to see them go to above $10 per transaction, something which would ruin 90%+ of the current usage of bitcoin.

batang_bitcoin

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Quote from: Kelvinid on June 04, 2017, 03:45:51 PM

Quote from: batang_bitcoin on June 04, 2017, 03:34:09 PM

A virtual coin that is valued $2,490 is officially dead. Yes it is officially dead for those people that are suffering regret upon selling their bitcoins too early. It's not useless and instead it is useful to all of us. You just need to know how to use it properly and if you want to have a better way of living, just learn how to become patient and hold it.

Well said.Be patient and learn to wait for the right time if you want to earn more because for sure bitcoin increases its value every passing day.But somehow,we can blame others to be doing like this.In the end,it's their choice and they're responsible for any consequences it may bring.

And he is complaining with the fee that is really changing because of the price fluctuation. I understand his complain but we can do something about it by adjusting the fees. But if you will set the fee lower expect the confirmation will take it longer. So the higher the fee, the faster confirmation.

Sarah08

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Quote from: loiterin9 on May 14, 2017, 03:06:01 AM

With transaction costs rising above $1 the original promise of cheap remittance using Bitcoin is officially dead. Without utility Bitcoin use is limited to speculation only and even further what is there to speculate about?

I would like to debate this and gauge the community's response to Bitcoin experiment.

Thats was just a normal thingbi guess bitcoin is increasing rapidly so the transaction fee will also increases and that was really normal in the cryptocurrency i guess so maybe bitcoin is not useless we already using it in many things and also using it to make a great profit or income.

northstarh

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Quote from: mantra on June 04, 2017, 05:41:17 PM

Bitcoin is very useful, maybe you do not understand bitcoin so call it useless. If you understand bitcoin you will never say bitcoin is useless. Many uses of bitcoin, for some people bitcoin saves them from poverty and makes their families live worthily

Do you think if someone made a profit from bitcoin and then they say bitcoin is useless? It is ridiculous, only those who do not use the new bitcoin think it's useless.

mantra

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Bitcoin is very useful, maybe you do not understand bitcoin so call it useless. If you understand bitcoin you will never say bitcoin is useless. Many uses of bitcoin, for some people bitcoin saves them from poverty and makes their families live worthily

Vaculin

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Winding down.

Quote from: sunsilk on June 04, 2017, 04:18:42 PM

Just because experiencing a normal problem in bitcoin you will say that it is useless and dead? where's the faith in bitcoin?

We need to understand as the difficulty increases, miners need to adjust the fee and as well with the price increase scenario.

We are computing base on the price of bitcoin and not with the quantity of bitcoin which is being set by them as fee.

I agree.Bitcoin has become our buddy the moment we started it.So if any normal problem arise,is it proper to just put bitcoin as a dead investment and useless?I supposed we should be sympathetic instead.Sympathetic in the sense that we should understand its rising and depreciating value in some times.Bitcoin is not that perfect to be consistently growing.It may have also its ups and downs.

sunsilk

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Just because experiencing a normal problem in bitcoin you will say that it is useless and dead? where's the faith in bitcoin?

We need to understand as the difficulty increases, miners need to adjust the fee and as well with the price increase scenario.

We are computing base on the price of bitcoin and not with the quantity of bitcoin which is being set by them as fee.

rhamzter

sr. member

Activity: 420

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Bitcoin is not useless it is useful because by the help of this I earn another income, I buy what I want and it is easy to earn than if you are employee, due to you can earn Bitcoin every not like if you are employee you earn every 15-30 of the month.

nightxglow

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Lol i can't believe i see someone who said bitcoin is useless, only because the transaction fee is high?
Bitcoin sure, is useful for me. It really help me to earn more money quite easily. And i don't really mind with the transaction fee because i rarely use bitcoin to buy something, i prefer keeping them.
Yes it's true that bitcoin is quite much about speculation, but what's for sure the price has been increasing until now, and it actually profitable to keep your bitcoin and sell that later.
If you complained about the fee, why not try to save your bitcoin like me? Or learn other way to use bitcoin that may give you even more money so you won't even complain about it anymore because you're rich already.

Kelvinid

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win lambo...

Quote from: batang_bitcoin on June 04, 2017, 03:34:09 PM

A virtual coin that is valued $2,490 is officially dead. Yes it is officially dead for those people that are suffering regret upon selling their bitcoins too early. It's not useless and instead it is useful to all of us. You just need to know how to use it properly and if you want to have a better way of living, just learn how to become patient and hold it.

Well said.Be patient and learn to wait for the right time if you want to earn more because for sure bitcoin increases its value every passing day.But somehow,we can blame others to be doing like this.In the end,it's their choice and they're responsible for any consequences it may bring.

comp

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Quote from: deisik on June 04, 2017, 02:19:33 PM

Quote from: comp on June 04, 2017, 12:41:33 PM

Bitcoin is indeed useless. I sold my stash after holding on for a long time. Don't want to be to greedy at the moment because the limited extra bucks to be made before the big bubble burst is just not worth the risk anymore. The titanic will sink no matter what people will tell. There is a lot of noise by people wanting to squeeze that extra $ out of their investment, but in the end the bubble pops. So I've chosen to exit, before the stampede (which will cause a technical crash on itself) Bitcoin = speculation (and part religion), for practical use you need to look at the coins 2.0.

Indeed it is useless for you now

Since useless basically means of no use, and Bitcoin is of no use to you after you have already sold all your coins. Moreover, if Bitcoin continues to surge and consistently break ATH's as it has been doing since the beginning of this year, it will be of even less use to you, because all what will be left to you is watch how Bitcoin climbs higher and higher. It is not that Bitcoin is useless on its own, it is more your never realized profits (especially those which you won't earn) that will make it so. Anyway, the shills' club seems to be overcrowded already by now, so you may have to just stick around here for the time being

Oef...resembles much like an response to an attack on the church of bitcoin. Don't become overly religious about the bitcoin. A virtual something which value is propped up by the herd. The so called virtual gold. It's a fantasy. It once was a dream, about decentralized whatever for the people....it has become useless, nothing else than for fun and profit. Let's see for how long the music keeps playing on a sinking titanic. Then make room for ideas that really add something of value to the world, something with a better future. Such a transition is always hard for vested powers. I totally understand that all will be done to keep the boat afloat with message like "we go to the 10.000. Delusion is the last part of the game

Topic: Bitcoin is useless or is it? - page 10. (Read 12826 times)