Topic: Bitcoin is useless or is it? - page 15. (Read 12826 times)
I don't think it is useless but the fee is a bit high for the moment, but it still a good investment and there are still many usage especially for gambling purpose and I still like the anonymous feature from bitcoin to do transaction, so bitcoin still useful for me
If it is useless how could it get such an increased adoption as well acceptance from users around the globe. Also this could have went out of usage as most other digital currencies. Countries too won't officially support bitcoin acceptance if it has negative impacts or not a good thing for development.
With transaction costs rising above $1 the original promise of cheap remittance using Bitcoin is officially dead.
You have to accept that the cost of doing business has increased and miners need to cope with the ever growing demand, i feel rising costs are also good to prevent network spam .Quote
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.
Believe is or Bitcoin use is popular among gamblers and traders and i have seen the trend slow down, it might be expensive but all whats needed is a little adjustment.I would like to debate this and gauge the community's response to Bitcoin experiment.
FYI Bitcoin is still a young currency to be declared useless with a lot of potential to change financial system around the world.
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.
I would like to debate this and gauge the community's response to Bitcoin experiment.
If you feel like bitcoin is useless, just send me your bitcoins and I will agree with you. Having this kind of argument and still holding bitcoin is annoying. And besides why are you still here in the forum if you feel that Bitcoin is useless? Most people who do feel that bitcoin does not do them good just quit and get out of this forum unless you are trying to do some convincing and make people sell their bitcoin at a cheaper price.
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.
bitcoin is still useful because it has features in addition to side of transactions that make it easy for users. just because 1 missing feature doesn't mean other features are also dead and many gambling sites or ico investments through bitcoin it shows that bitcoin is still useful. I would like to debate this and gauge the community's response to Bitcoin experiment.
Lol the fee can be as big or small as you want. This is a non issue if you're sending money to someone who can wait a few days and you want to cheap out in the fee.
Just because transaction fees go up, you say bitcoin is useless? 
I myself have never thought about transaction fees in every transaction I make, while there is still a wallet that provides no fees in the withdrawal, take advantage of that. I think don't need to bother with transaction fees, and bitcoin very useful.
I myself have never thought about transaction fees in every transaction I make, while there is still a wallet that provides no fees in the withdrawal, take advantage of that. I think don't need to bother with transaction fees, and bitcoin very useful.
You dont have to necessarily pay those high fees it's only an option to make it faster in case you're in a hurry and need your money quickly.
Also when the price of bitcoin was low the fees were also low and when it's high the fees also increase and now bitcoin is worth billions.
The best time to buy bitcoin was two years ago, the scond best time is now.
Also when the price of bitcoin was low the fees were also low and when it's high the fees also increase and now bitcoin is worth billions.
The best time to buy bitcoin was two years ago, the scond best time is now.
it is useful to provide a freedom of trading, saving, technological development, etc. but bitcoin is often too high of fees, that's why we have altcoins. although bitcoin is useless such as cash payment, it is very important towards liberty of most of the human rights i think.
I agree. That is why I use the Bitcoin Unlimited node and am diversifying into LTC, DSH and ETC. As soon as the mempool clears, I think we'll drop below the 200 DMA, due to anger *again* over fees/wait times. It's so unnecessary. If we made it 2MB there wouldn't be the mempool.
Аll BU supporters are obvious enemies to bitcoin like you and Roger Vermin and other altcoiners
This is the type of kinda religion that I'm seeing all around the Bitcoin community, people are all around attacking each other without using arguments, logic or anything else. Its really weird. Some people created a cult about Bitcoin, its kinda sad.
I agree. That is why I use the Bitcoin Unlimited node and am diversifying into LTC, DSH and ETC. As soon as the mempool clears, I think we'll drop below the 200 DMA, due to anger *again* over fees/wait times. It's so unnecessary. If we made it 2MB there wouldn't be the mempool.
Аll BU supporters are obvious enemies to bitcoin like you and Roger Vermin and other altcoiners
BU is not the enemy of bitcoin, it's just an altcoins and it takes advantage of the power of bitcoin development. However, it did not get people's consent and it was excluded.
With transaction costs rising above $1 the original promise of cheap remittance using Bitcoin is officially dead. Without utility Bitcoin use is limited to speculation only and even further what is there to speculate about?
I would like to debate this and gauge the community's response to Bitcoin experiment.
It's the fucking chinese scum, they are rising fees on purpose to make more profits like ants I would like to debate this and gauge the community's response to Bitcoin experiment.
If bitcoin is useless, then explain why literally billions of dollars are flowing into it. The market determines the value. The market has spoken. You are wrong.
You are right the market does determines the value. However, ask yourself, how often do markets get it wrong? Remember the Dotcom bubble? or many other time when a security crashed dragging the entire market down. What I'm trying to say is the true value of bitcoin has been misrepresented as cheap money remittance tool. Bitcoin is not a utility anymore. So, what intrinsic value is there?
Those are great points and I agree. I just think it is too soon to tell. It will go throuhg more iterations and more people will catch on over time. ONly time will tell. But today its worth billions.
From a personal perspective buying and selling games online, I've begun to stop using bitcoin because the 1$ fee + 1$ fee to convert it to USD is actually higher than paypal's.
to me i still do not think that it is expensive if you are dong shopping for a good amount of money. then its transaction fee is not such a big problem and that problems can be solve with the passage of time.
Re: Why should people use Bitcoin?
December 08, 2015, 05:52:20 PM
Reply with quote #3
Some good reasons why you use bitcoin.
1. It is fast. Transactions are instantaneous and confirmation times are usually done withing 10 minutes.
2. It is cheap to transfer any amount of money anywhere. Fees are insignificant at this point.
3. Your bitcoin are your alone, they can't be blocked by bank, IRS or any institutions.
4. There are no charge backs.
This is from another thread... from Dec 2015. Only 2 of the pints are still true.
December 08, 2015, 05:52:20 PM
Reply with quote #3
Some good reasons why you use bitcoin.
1. It is fast. Transactions are instantaneous and confirmation times are usually done withing 10 minutes.
2. It is cheap to transfer any amount of money anywhere. Fees are insignificant at this point.
3. Your bitcoin are your alone, they can't be blocked by bank, IRS or any institutions.
4. There are no charge backs.
This is from another thread... from Dec 2015. Only 2 of the pints are still true.
It seems to me that one particular characteristic is quite persistent - autonomy. Being independent of traditional institutional control the community values the most. It is an interesting point. So it's a safe haven of the 21st century this is where it's likely to derive its value. However, how stable is it? What could impact it?
From a personal perspective buying and selling games online, I've begun to stop using bitcoin because the 1$ fee + 1$ fee to convert it to USD is actually higher than paypal's.
Bitcoin has changed a lot in the past few months from a micro transaction platform we have reached to a point we are not able to do that anymore simply because of the increasing fees and the delay in transaction time and these issues have completely alienated gamers who like to purchase a thing or two with bitcoin. 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.
I would like to debate this and gauge the community's response to Bitcoin experiment.
With today prices if the fee of your transaction as you post is $1 that means about 55000 satoshis, the size of your transaction is more than the median usual (225 bytes); except if you would like your tx being confirmed in the next block. More over the the tx fees is about $1 because the today price of btc is about $1800. If we go some months ago say 11/2016 the 1btc=$600 with the today network load the same tx fees would cost 33 cents. So, I would like to ask you; Would you like a cheap btc or an expensive one so as if you hold it to be more rich in the future?
One can't predict the future. If Bitcoin is not used for remittance because of it's price the demand will likely to go down, no demand... the price will bound to go down.
But I like your question. What do we want from Bitcoin?
Do we want a stable currency or an ever appreciating in value asset?
Could there be an equilibrium?
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.
I would like to debate this and gauge the community's response to Bitcoin experiment.
1) cheaper trans fees are not the only benefit of using bitcoin, as a matter of fact i'd still be using bitcoin even if it cost me $6-7 a transaction.
so no i dont think it makes bitcoin useless, not even by a long shot.
2) my reason for using bitcoin is because it keeps going up in value: and not the just financial type. already its become possible to help change lives of those in third world countries because of bitcoin. for example i can give $1000,00 usd to 1 person in a third world country and it will not be used by or for them at a 98% probability as either the government wont allow them to keep the money i gave them or they will get robbed, i can go buy a $75 phone and spend $300 on the first 6 months phone bill and then install a bitcoin wallet onto the phone for them and use the leftover $625.00 on bitcoin for that same wallet and simply give them that phone without anyone being the wiser and said person will be able to live a far better life and have a chance to keep it that way for the long run. That is a more valuable benefit from using bitcoin, in my opinion, then transaction fees being cheaper.
indeed. The low transaction fee's are a lie now. better to buy your pizza with real money or pay more with BTC.
Can anyone tell me for whom those fee's are, and why they are rising?
I suppose that fees are going to those people who created exchangers and apps that convert bitcoin to other currencies. Well, it;s normal that sites and programms need money to pay for work to all those people who support its work. Very good scheme by the way. I think those guys are rich already with such kind of business. Can anyone tell me for whom those fee's are, and why they are rising?
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