Bitcoin is useless or is it? - page 7.

stripykitteh

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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.

Monnt

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Quote from: dihari on June 05, 2017, 10:24:31 AM

The high transaction fees is now trending in everywhere and many complain threads are born in these weeks. No doubt, it really make bitcoin useless but not at all. It's just affecting to small (micro)transactions, and for the big one it is no problem.

Yes bitcoin fee can be a problem for the small transactions but for the high transaction the Bitcoin is the ideal for people and they trust the Bitcoin more than any other cryptocurrency.
I guess this is taking the Bitcoin to enter into a new stage, according to my analysis the Bitcoin is going to deal the high transactions in the future only, while the small transaction will be made with the alts & I hope it will not affect the Bitcoin negatively.

imeetup

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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.

AmeSakibimasu

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How can bitcoin is useless for everyone?
bitcoin is not definitely useless otherwise many people or members here are really interested and willing to learn or to earn money for them to lift their lives in a proper way. If you say useless basically means NO USE of it . It is not that bitcoin is useless on its own therefore bitcoin is more useful time to time and it is more you never realized the profits especially those people who doesn't want to earn and also after you have already sold all your coins maybe bitcoin will be useless for them. The members of bitcoin will be absolutely will spread out around the world and will definitely make bitcoin more and more stronger, just learn to be patient.

Reid

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Quote from: zidanw on June 07, 2017, 11:18:05 PM

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.

We still have other alternatives like eth even though our expensive bitcoin transaction fee, can't deny that bitcoin is still feasible and many want it, so I think bitcoin is still useful even a very high bitcoin price becomes a remarkable thing in its use.

For some reason that high transaction fee makes me optimistic.
It stops bitcoin holders specially the people who have lower funds to withdraw over and over.
With that, the bitcoin number is being held and that means another price increase.
Although it is not good for merchants which do transactions all the time and people who buys item with bitcoin as payment.
What else can we do but just think of a positive side of it.

zidanw

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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.

We still have other alternatives like eth even though our expensive bitcoin transaction fee, can't deny that bitcoin is still feasible and many want it, so I think bitcoin is still useful even a very high bitcoin price becomes a remarkable thing in its use.

HashieNewb

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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.

Lecam

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For some people who dont really know the real purpose of bitcoin,i mean the people who dont know yet about bitcoin, its useless, they think it was illegel or so on, but for us, it is useful, some people are making it as a source of income, like me. I used this to support my financial needs, so i was able to support myself in studies and this was my source of income as of now and im using this oppurtunity to save much money for my future.

arcanayou

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Useless? are you kidding. Bitcoin is very valuable and very useful. If you think it is useless you can give me your bitcoin. Hehe ,, bitcoin very useful, for transactions between countries and banks to be sent quickly and easily, indeed the transaction fee is now too big, but that's not the point. The most important thing is how to use bitcoin

bicork

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Gold is gold not not for it's usage. It's value in other things. The same with bitcoin.

canvan

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Quote from: qwertyup23 on June 07, 2017, 10:26:12 PM

In my opinion, bitcoin is not useless AT THE MOMENT since you can always convert it into cash. The real problem lies only on earning it. Bitcoin also has the potential to replace cash in the future. It is not useless for as long as it has monetary value in conversion.

As an asset its obviously not useless when you can still convert it, but I guess as a currency it is.

qwertyup23

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In my opinion, bitcoin is not useless AT THE MOMENT since you can always convert it into cash. The real problem lies only on earning it. Bitcoin also has the potential to replace cash in the future. It is not useless for as long as it has monetary value in conversion.

richsoon

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Quote from: MostHigh on June 07, 2017, 04:00:07 PM

The transition fee is a big issue and it is not advisable to make small transactions and daily payments otherwise you will be losing a lot to transaction fee. To my best of knowledge this fees are what miners feed on. And it is needed to sustain mining.

Miners would earn ten times more with 1/10 the fee and 100x more transactions but this is only possible with a real scaling solution. What is going to happen as more and more transactions get priced out due to ever increasing fees is that people will eventually realize that bitcoin is useless and everyone will scramble to sell out causing another big crash.

We need a scaling solution now and before its too late.

daringdiscovered

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Quote from: MostHigh on June 07, 2017, 04:00:07 PM

The transition fee is a big issue and it is not advisable to make small transactions and daily payments otherwise you will be losing a lot to transaction fee. To my best of knowledge this fees are what miners feed on. And it is needed to sustain mining.

I don't think so, because the transaction fee is not a big deal if you are earning enough bitcoins, but if your excuse will be "But I'm only earning bitcoin through FAUCETS" then it is your problem, just simple quit faucet and start to do other way where you could earn bitcoin so the transaction fee won't be a big deal to you anymore, for example is doing Signature Campaign on this forum.

Or you could do also Trading or Investing it on some investment site, though it is still depends on which way are you good at, because it would be better if the thing that you are going to do is the one that you wanted or you are good at, since you are going to do it on the long run.

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Quote from: kidmodo on June 05, 2017, 10:00:08 AM

I think high transaction fees are not a reason to call bitcoin is useless. Transaction fees from the past until now are the same, nothing has changed. Indeed increases if we measure with the dollar but if we measure with bitcoin will remain the same. Bitcoin gives us a lot of benefits and uses, even many who become rich with bitcoin

Yeah, having a high transaction fee with Bitcoin does not make Bitcoin useless because the people that use Bitcoin may already know that if they really want something and they can’t wait for it then they would pay a high transaction fee for it. If a person wanted an item and they didn’t care for the wait then they could just put a low transaction fee and have the transaction confirmed in a couple of days.

darklus123

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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 doont think so. You issed the part in which because of the current btc raise people have also gain more profit and opportunity. Tho I would say that some of us small time earners were really butt hurt about this current crisis

Kizaki

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This changes happens for a good reason i think,there are many people complaining about the rise in the fees but many are in with it,fees makes alot of sense on bitcoins transactions,it helps transaction to get confirm faster than other transactiom behind it

Hutalar

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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 transactions take too much time but still people are using it and the reason is that the benefits of bitcoin are more than any other payment system or any other currency. Currently some developers are trying to solve the issue through some services like viaBTC and in the future more convenience will come.

sasaku bitbit

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Quote from: citywise2 on May 14, 2017, 08:54:23 AM

Bitcoin is not useless at all and it makes sense in every way you look at it. Before anyone starts grumbling over bitcoin, I think taking time out to consider the so many solutions bitcoin have brought compared to what we have with payment systems like Paypal, we can now begin to appreciate bitcoin the more.

I think taking the time out to consider this solution so much bitcoin has brought compared to what we have with the payment system such as Paypal, we can now begin to increasingly appreciate the bitcoin. due payment system follows the price of bitcoin

Inkdatar

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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.

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