Bitcoin is useless or is it? - page 6.

Supercrypt

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Quote from: bncbnc on June 10, 2017, 12:12:20 PM

Quote from: imeetup on June 08, 2017, 12:46:06 AM

In my opinion the high transaction costs does not make Bitcoin useless. It is still a great store of value and using it that way doesn't require frequent transferring. It is also the number one crypto currency for trading pairs on exchanges.

yes although it can effect it but not so. the transaction fee is in fact effecting the small trading, it will only effect the shopping for small items, for exxaple i am gong to recharge my mobile i have to pay government tax on it. and i also have to pay transaction fee which which is more than the recharging amount that i normally do for my mobile.

Yes I agree the transaction fees is an issue for the small transactions. The huge transactions where having a huge profit will not be affected greatly.
Yeah the small top up type of things will cost high for the people so I guess if possible it is better to use the alts for such purposes and it has been noticed that the small transactions are now more common it the etherium and the tore coin.

BigBall

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Bitcoin is not useless and it will not be,same like etherum it will be really important in our future and it will change fiat money so there is no worry that bitcoin will destroy us,it can just bring good.

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Quote from: Happydd on June 10, 2017, 12:07:07 PM

Quote from: nominee on June 10, 2017, 11:38:31 AM

It was not useless at the very first stages of its improvement. Now the blockchain network is extremely slow and transactions takes very much time to get confirmed. It is becoming useless evey day. Hopefully, this problem is solved.

Only stupid people say that bitcoin is useless, bitcoin is the future of the world, it helps us to generate a stable and good income.

I agree. 2 years ago, my brother tried to study Bitcoin by himself and also try to explain it to my parents. The results that he was beaten by them, poor for him actually :v But after a bad event, he now the role of the head of the family

USBitcoinServices.Com

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The more negative people talk about bitcoin the stronger bitcoin gets. Perhaps for each naysayer, there are way much more new bitcoin users. Thanks for the contribution of spreading the word, even the negative ones help :-)

Andri.Ghani

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It used to be useless, because the bitcoin price increase that once was considered rubbish, again I wasted a lot of money
And I will not repeat it again.

Pettuh4

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Quote from: Happydd on June 10, 2017, 12:07:07 PM

Quote from: nominee on June 10, 2017, 11:38:31 AM

It was not useless at the very first stages of its improvement. Now the blockchain network is extremely slow and transactions takes very much time to get confirmed. It is becoming useless evey day. Hopefully, this problem is solved.

Only stupid people say that bitcoin is useless, bitcoin is the future of the world, it helps us to generate a stable and good income.

I agree with you but your words are also harsh. Bitcoin is the future of money so it cannot be useless in the sense that all existing money and cryptocurrencies are trying to adopt the virtues of Bitcoin

bitbob82

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Quote from: bncbnc on June 10, 2017, 12:12:20 PM

Quote from: imeetup on June 08, 2017, 12:46:06 AM

In my opinion the high transaction costs does not make Bitcoin useless. It is still a great store of value and using it that way doesn't require frequent transferring. It is also the number one crypto currency for trading pairs on exchanges.

yes although it can effect it but not so. the transaction fee is in fact effecting the small trading, it will only effect the shopping for small items, for exxaple i am gong to recharge my mobile i have to pay government tax on it. and i also have to pay transaction fee which which is more than the recharging amount that i normally do for my mobile.

we can hope that this issue will be solve on preyority bases, because it is now creasing problems. people are now facing hard to do small transaction, although high transaction is not creating problem, but for small transactions the problems should solve.

bncbnc

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Quote from: imeetup on June 08, 2017, 12:46:06 AM

In my opinion the high transaction costs does not make Bitcoin useless. It is still a great store of value and using it that way doesn't require frequent transferring. It is also the number one crypto currency for trading pairs on exchanges.

yes although it can effect it but not so. the transaction fee is in fact effecting the small trading, it will only effect the shopping for small items, for exxaple i am gong to recharge my mobile i have to pay government tax on it. and i also have to pay transaction fee which which is more than the recharging amount that i normally do for my mobile.

Happydd

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Quote from: nominee on June 10, 2017, 11:38:31 AM

It was not useless at the very first stages of its improvement. Now the blockchain network is extremely slow and transactions takes very much time to get confirmed. It is becoming useless evey day. Hopefully, this problem is solved.

Only stupid people say that bitcoin is useless, bitcoin is the future of the world, it helps us to generate a stable and good income.

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Quote from: PX-Z on June 10, 2017, 11:44:31 AM

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.

Blame core with this Cheesy

But just truth its really annoying that you're Transaction fee is greater than you sending amount. Mostly you pays 20%-40% only for the transaction fee especially if you are sending 0.005-.01 BTC and thats why its really expensive.

It simply doesn't add up

Developers (i.e. the Core team) don't get anything from insane fees, and yet we should blame them. How come really? Flooding the network with spam transactions costs literally millions, should we also blame the Core developers for that? As to me, it looks rather strange if not outright suspicious that it is miners who are earning profits from higher fees and can create millions of spam transactions without actually incurring expenses, but it is still the developers who should be blamed for all Bitcoin's current misfortunes

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Quote from: nominee on June 10, 2017, 11:38:31 AM

It was not useless at the very first stages of its improvement. Now the blockchain network is extremely slow and transactions takes very much time to get confirmed. It is becoming useless evey day. Hopefully, this problem is solved.

i am sure that in future, this problem will be fixed, i think the teams behind bitcoin is working to fixed the blockchain network. but unfortunately, i don't know what exactly they did to fixed this. but yes, i admitted that transaction is getting too slow when there are any new transactions with big file to send. but i believe that once the transaction is seen by the network, then in the end the transaction will be completed but there are no estimation how long the transactions gets confirmed, we only can wait until the process is completed.

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Quote from: stripykitteh on June 08, 2017, 05:02:08 PM

Quote from: Jayshree85 on June 07, 2017, 04:02:41 PM

Quote from: oceanriver on June 07, 2017, 02:29:20 PM

yes, bitcoin is useless right now because of huge fees

I agree but if you can use ViaBTC accelarator properly then even old low fees transaction are getting confirmed and i have done this recently and got confirmed in 2 hrs. So it is that you have to put your efforts little more for this benefit.

Accelerating Bitcoin transactions using ViaBTC is one of the important tools that are out there if anyone who has a stuck transaction needs a faster confirmation rate. I am thankful that those people mining Bitcoin released the tool because I have used it so many times and had my transactions confirmed within 24 hours without having to spend like $20 per transaction just so I can send like $0.50 to another person with a Bitcoin client.

but it can't be used by everybody, the limit is 100 tx per hours, do you know other services like these? would be really helpuf to bypass the limit, i don't want to pay the overpriced fee that we have know i think it's not fair, and miners know this, they just like the current limit on the block, and it's why there are many that are neutral about what to do to fix this

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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.

Blame core with this Cheesy

But just truth its really annoying that you're Transaction fee is greater than you sending amount. Mostly you pays 20%-40% only for the transaction fee especially if you are sending 0.005-.01 BTC and thats why its really expensive.

nominee

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It was not useless at the very first stages of its improvement. Now the blockchain network is extremely slow and transactions takes very much time to get confirmed. It is becoming useless evey day. Hopefully, this problem is solved.

mrfreezeh

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If you think Bitcoin is useless, surely you have not learned about Bitcoin or have never used it. Bitcoin is good way for make payment online with BIG AMOUNT, it very fast and not take more fee when you send, can anti-inflation and change the life people use it

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Quote from: Victorycoin on June 10, 2017, 08:19:08 AM

Quote from: HashieNewb on June 07, 2017, 11:14:16 PM

Quote from: Inkdatar on June 07, 2017, 06:19:22 PM

This is I notice a high fees every transactions but still the question is sometimes the transaction is too long to confirm. Despite of this bitcoin is still being used by every users and others still got earnings with bitcoin.

The high transaction fee is fine for now from my view because if the person wants the money without waiting a few days then he or she could get the money within the hour. I think that the amount for the high speed transaction is around $1 or so depending on how much is being sent over.

I guess it is still a better bargain, because if dealing with fiats, even after paying high fees, one is still often compelled to wait for a number of banking days before the transaction is completed and that goes with the extra burden of leaving h your house and showing some papers. I think this is just a phase for Bitcoin, it will get over it.

No solution other than size increase, for this we expect a lot in segwit, or there will be no other solution. We expect many new users but can't solve the problem of pending costs and transactions, as you say, this is an important phase to go through, or unlimited bitcoin issues will come back to the surface.

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Quote from: HashieNewb on June 07, 2017, 11:14:16 PM

Quote from: Inkdatar on June 07, 2017, 06:19:22 PM

This is I notice a high fees every transactions but still the question is sometimes the transaction is too long to confirm. Despite of this bitcoin is still being used by every users and others still got earnings with bitcoin.

The high transaction fee is fine for now from my view because if the person wants the money without waiting a few days then he or she could get the money within the hour. I think that the amount for the high speed transaction is around $1 or so depending on how much is being sent over.

I guess it is still a better bargain, because if dealing with fiats, even after paying high fees, one is still often compelled to wait for a number of banking days before the transaction is completed and that goes with the extra burden of leaving h your house and showing some papers. I think this is just a phase for Bitcoin, it will get over it.

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Quote from: DOGE12321 on June 08, 2017, 06:12:28 PM

Yeah, the original promise of low transaction fees is gone.

The reason why the prices are rising is because the number of transactions being made is rising exponentially. Since there is a limit on how many transactions a miner can put in a block and the number of transactions being made has risen, one needs to pay higher to get your transaction inserted in the block.

Can we do something about that? Maybe no, because we have to accept the fact that bitcoin price hit high right now. And for them to earn is to give us a really high transaction fees. Maybe we should earn more and more bitcoin first then if we need it that is the time we can exchange it.

DOGE12321

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Yeah, the original promise of low transaction fees is gone.

The reason why the prices are rising is because the number of transactions being made is rising exponentially. Since there is a limit on how many transactions a miner can put in a block and the number of transactions being made has risen, one needs to pay higher to get your transaction inserted in the block.

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Quote from: stripykitteh on June 08, 2017, 05:02:08 PM

Quote from: Jayshree85 on June 07, 2017, 04:02:41 PM

Quote from: oceanriver on June 07, 2017, 02:29:20 PM

yes, bitcoin is useless right now because of huge fees

I agree but if you can use ViaBTC accelarator properly then even old low fees transaction are getting confirmed and i have done this recently and got confirmed in 2 hrs. So it is that you have to put your efforts little more for this benefit.

Accelerating Bitcoin transactions using ViaBTC is one of the important tools that are out there if anyone who has a stuck transaction needs a faster confirmation rate. I am thankful that those people mining Bitcoin released the tool because I have used it so many times and had my transactions confirmed within 24 hours without having to spend like $20 per transaction just so I can send like $0.50 to another person with a Bitcoin client.

Really now. I get that fees are higher right now but 20$ fee for a .5$ transaction? Would you really send 18k sat and pay .0072 in fees? Better to stay away from dust tx's for now and learn to maximize every transaction.

Yes Viabtc helps, but it'd be better if people doesn't intentionally set low fees and then just use the accelerator. It's only got 100 slots hourly after all.

And as for topic, BTC is still a great investment tool. Better than ever in fact. Just not much for micro-payments as it is now.

Topic: Bitcoin is useless or is it? - page 6. (Read 12826 times)