Bitcoin is useless or is it? - page 4.

doomloop

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Quote from: Gaaara on July 12, 2017, 09:24:50 AM

Quote from: BitcoinGirl.Club on July 12, 2017, 09:13:16 AM

Quote from: Lampaster on July 12, 2017, 08:54:33 AM

Bitcoin is indeed very convenient to use on the Internet, but for me the main thing not it. The main thing for me is freedom of choice. The man himself can decide in what country to make money and how to manage them. Everybody needs freedom, and hence bitcoin is needed.

Bitcoin is growing fast now and can be used outside the internet circles which makes it useful than ever before. Bitcoin fees are still cheaper as compared to other well known remittance services which makes it the preferred mode of payment by many today.

I do agree with you mate, bitcoin is still growing even with its current state. Bitcoin now is more convenient to use than other remittance services like you just said and the other reason for that is the time utility, and every utility which business has to offer, its easy to use, its convenient, and its less hassle for those who doesn't have a time to go elsewhere.

well you are right that bitcoin is increasing its price every day instead of decreasing it has become more easy and more convenient with the development and improving of the using procedure of the bitcoin so it is now more easy to use than before.

Illiana

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It is absurd to think that a cryptocurrency valued at $1800 and with a $30B market cap is useless due to high fees. It's like you think there aren't a plethora of other advantages. Bitcoin will scale and the fees issue will be solved at some point.
If any of you think Bitcoin is gonna die because the fees are too high, then you have NO idea what Bitcoin (or cryptocurrency for that matter) is and should go back to using cash.

~Bitcoin~

legendary

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Quote from: Drnice on July 12, 2017, 04:43:26 PM

I wish that we get a positive result from this upcoming segwit event.

I am quite confident that segwit will bring positive result because it is the only viable solution right now to solve all block size related debates we have for years.

Drnice

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Quote from: SONG GEET on July 12, 2017, 09:57:28 AM

Quote from: Drnice on July 12, 2017, 09:18:56 AM

The fees for transactions is so high that if you make a low transaction, it will be as even equal to the amount that is to be transacted, I have faced such in coinbase more often.

Those fee depend on lots of things specially size of your bitcoin transaction rather than the amount you are transacting. However It is true that bitcoin is not suitable right now for micro transactions but I am quite sure that bitcoin will be cheapest and fastest way to move our money again after activation of segwit on this august.

I wish that we get a positive result from this upcoming segwit event.

BitHodler

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Quote from: xSkylarx on July 12, 2017, 03:26:12 PM

How can something worth too much be useless?
I can't really understand it just because of the transaction fee being high that doesn't really mean that it is useless.

People here are shortsighted ~ just because the higher fees are burning through their faucet/captcha earnings (which took them days to collect), Bitcoin has no more use for them, and thus its useless.

It's their twisted and toxic form of logic. If you globally look at the people who are complaining about the higher fees, then the faucet/captcha farmers account for the largest part.

People for once should stop wasting their days earning a few satoshis here and there. In order to move that dust, a fee that likely is more than double in quantity needs to be included, otherwise it will never confirm.

Siki773

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Well you gotta take note that in some countrys there are litterally BTC ATM's and you can actually buy something with it so i would say it really is a real currency.If you dont think it is just wait for more ppl to accept it and see

Barbut

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Quote from: Adbitco on July 12, 2017, 03:34:20 PM

Quote from: xSkylarx on July 12, 2017, 03:26:12 PM

How can something worth too much be useless?
I can't really understand it just because of the transaction fee being high that doesn't really mean that it is useless.

Absolutely correct and bitcoin is useless then even gold and other precious metals or even every other expensive thing is useless. If bitcoin were useless the governments of so many big countries like Japan and other big companies wouldn't recognize and accept it as a payment method. High transaction fee doesn't make bitcoin useless, that issue of high transaction fee will be resolved sooner than later but besides just high transaction fee bitcoin has many more qualities which make it awesome and very useful digital currency.

OP is referring on raised fees, that is behind us now but we must agree that transaction fees were high for many of us. To pay 5$ for 10$ transaction is a problem. I know that 5$ fee is OK if you are sending +1000$ but not all of us here are rich and not all the things are expensive, bitcoin would be useless in that way, why would we use bitcoin if using is cost too much?
Every coin have a two sides, all I can say that with high fees bitcoin would be useless for daily use. Situation is much better now, and I hope that we will not see similar situations in the future. In the beginning when I started to use bitcoin was promoted as a decentralized currency with very low sending fees, it would be best to stay like that.

Adbitco

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Quote from: xSkylarx on July 12, 2017, 03:26:12 PM

How can something worth too much be useless?
I can't really understand it just because of the transaction fee being high that doesn't really mean that it is useless.

Absolutely correct and bitcoin is useless then even gold and other precious metals or even every other expensive thing is useless. If bitcoin were useless the governments of so many big countries like Japan and other big companies wouldn't recognize and accept it as a payment method. High transaction fee doesn't make bitcoin useless, that issue of high transaction fee will be resolved sooner than later but besides just high transaction fee bitcoin has many more qualities which make it awesome and very useful digital currency.

xSkylarx

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How can something worth too much be useless?
I can't really understand it just because of the transaction fee being high that doesn't really mean that it is useless.

Leickens

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Pls I beg, bitcoin is never useless, Bitcoin value in market nowadays is more encouraging, for a value of commodity to be useless it simply means it is not significant to you or anybody. If you could gather enough BTC today, there are enough buyer to buy from you. Bitcoin is a great business.

SONG GEET

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Quote from: Drnice on July 12, 2017, 09:18:56 AM

The fees for transactions is so high that if you make a low transaction, it will be as even equal to the amount that is to be transacted, I have faced such in coinbase more often.

Those fee depend on lots of things specially size of your bitcoin transaction rather than the amount you are transacting. However It is true that bitcoin is not suitable right now for micro transactions but I am quite sure that bitcoin will be cheapest and fastest way to move our money again after activation of segwit on this august.

Zachary chen

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Bitcoin is unlimited potential.time will prove.

livinglightning

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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.

I also agree with you. I lost a lot of transaction fees. Bitcoin utility is losing. Make money from bitcoin you do not have to pay taxes. But in fact you lose a similar charge to the tax

Gaaara

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Quote from: BitcoinGirl.Club on July 12, 2017, 09:13:16 AM

Quote from: Lampaster on July 12, 2017, 08:54:33 AM

Bitcoin is indeed very convenient to use on the Internet, but for me the main thing not it. The main thing for me is freedom of choice. The man himself can decide in what country to make money and how to manage them. Everybody needs freedom, and hence bitcoin is needed.

Bitcoin is growing fast now and can be used outside the internet circles which makes it useful than ever before. Bitcoin fees are still cheaper as compared to other well known remittance services which makes it the preferred mode of payment by many today.

I do agree with you mate, bitcoin is still growing even with its current state. Bitcoin now is more convenient to use than other remittance services like you just said and the other reason for that is the time utility, and every utility which business has to offer, its easy to use, its convenient, and its less hassle for those who doesn't have a time to go elsewhere.

Drnice

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The fees for transactions is so high that if you make a low transaction, it will be as even equal to the amount that is to be transacted, I have faced such in coinbase more often.

BitcoinGirl.Club

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Quote from: Lampaster on July 12, 2017, 08:54:33 AM

Bitcoin is indeed very convenient to use on the Internet, but for me the main thing not it. The main thing for me is freedom of choice. The man himself can decide in what country to make money and how to manage them. Everybody needs freedom, and hence bitcoin is needed.

Bitcoin is growing fast now and can be used outside the internet circles which makes it useful than ever before. Bitcoin fees are still cheaper as compared to other well known remittance services which makes it the preferred mode of payment by many today.

izza123

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I cant think of any other service where you can send a million dollars across the globe instantly for less than 5$

Lampaster

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Bitcoin is indeed very convenient to use on the Internet, but for me the main thing not it. The main thing for me is freedom of choice. The man himself can decide in what country to make money and how to manage them. Everybody needs freedom, and hence bitcoin is needed.

Bitcoinislife09

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It isnt useless,but it is very useful because too many people and users use bitcxoin.And they often to save and store money because bitcoin can be used in thrifty days and.And the other thing is the bitcoin is very useful in the internet world.

hatshepsut93

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Quote from: Vikingr on July 08, 2017, 04:09:07 PM

Quote from: Ashbite on July 06, 2017, 02:33:35 AM

Bitcoin is very much useful,i think it is future currency.bitcoin is not handling by any government.this is decentralized also.it is very useful to fast and secure transactions.bitcoin is more profitable to investors,it is very useful to this internet world.according to my view many people love this bitcoins.

That is true! I don’t think so bitcoins are useless in any way. There are innumerable advantages of using bitcoins, then how one can call them useless. That would be really unjust to bitcoins’ services. Bitcoins are decentralized, highly transparent, offer easy transactions etc. what else one need. Bitcoins are the future currency of world.

I think blind crypto-optimism actually hurts Bitcoin community, the thought that Bitcoin is perfect and soon all of humanity will open their eyes and adopt it is so naive. People don't massively use Bitcoin because current fiat systems work just fine for them, most people don't understand the benefits of decentralization and immutability, and even those who do decide that the costs of using Bitcoin in terms of fees and volatility are outweighing those benefits. In order for Bitcoin to become the world currency, it must become better than fiat in all aspects.

Topic: Bitcoin is useless or is it? - page 4. (Read 12826 times)