Bitcoin is useless so why high price? - page 30.

djgtr

sr. member

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Quote from: tng811 on May 17, 2018, 08:45:20 PM

Bitcoin has its price high because it is the King, the Father of all crypto, and it has the iconic meaning of all cryptocurrencies. Also, Bitcoin is the gateway to alt coins, if anyone would like to invest in alt coins, he/she would need to buy Bitcoin first. In addition, it is backed by largest investors around the world, and they never let it down Wink

There's no boundaries on how bitcoin really implicates its popularity to peole, and as it goes older it became more stable. That’s why the price really have to take good and sustainable value as well, and more people think that bitcoin is worth an investment particularly on long term holdings.

tng811

full member

Activity: 350

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Bitcoin has its price high because it is the King, the Father of all crypto, and it has the iconic meaning of all cryptocurrencies. Also, Bitcoin is the gateway to alt coins, if anyone would like to invest in alt coins, he/she would need to buy Bitcoin first. In addition, it is backed by largest investors around the world, and they never let it down Wink

hermoine

newbie

Activity: 140

Merit: 0

Quote from: fred22 on December 30, 2017, 05:07:14 PM

Bitcoin is very slow transaction and fee is rediculus then why people bother buying it or considering it. I have £130 of bitcoin and I want to move it and it is asking for £28 network fee. Why should people bother having it. I can't wait to get rid of it when the fee is low.

It is not useless if you will keep on posting and if you have motivation in life because posting will help you earn and develop yourself to have a better future.

asduznxz9999

newbie

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I'm insanely happy when the prices are really high for bitcoin, but why they are such I never understood and I think I will never understand

vivuta107

newbie

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When there will be no proper environment where we can use bitcoin, we cannot call it useless. First we need to design a complete system so that we can use bitcoin more effectively.

onesalt

hero member

Activity: 756

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BTC is like the gate opening to the cryptocurrency world. You are right about the transaction fees and slow transfer but it will not affect people to have BTC as an investment.

jemine

newbie

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Bitcoin is not useless. In my country some merchant are accepting it has a means of payment for goods and service so it worth it value and I see it going higher this year

rxplcgna

newbie

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Since bitcoin has such a high price, it shows that bitcoin is not useless, the biggest effect is investment value, and many people who invest early in bitcoin have achieved wealth freedom.

cryptomoon1005

newbie

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Bitcoin of today is useless because of slow speed and high transaction fees..

But do you know that TCP/IP of today had some serious technical issues with security back when the technology was under development (just where bitcoin is today)

Check this the below research paper on TCP / IP that highlights the security problems in the TCP/IP protocol suite (written around 15 years ago), where the author focuses on protocol level issues, rather than the implementation flaws... The paper "Security problems in the TCP/IP Protocol Suite" was originally published in Computer Communications Review, Vol. 19, No. 2, in April, 1989.

http://citeseerx.ist.psu.edu/viewdoc/download?doi=10.1.1.531.4314&rep=rep1&type=pdf

If you give this a read, you will never call BITCOIN useless:P

Bitcoin of today has several issues with speed, number of transactions and the transaction fees, BUT price is high because the world still wants BITCOIN TO BE THE REAL KING OF CRYPTOS in future, and are putting their money for the FUTURE BITCOIN

boller

sr. member

Activity: 588

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Yes, it is true that one of the disadvantages of Bitcoin is the high fees and low transaction. Some altcoins have better than this.
However, I don't think so that Bitcoin is useless. In fact, BTC still holds its power as the king of cryptocurrency. This is because it still holds the good concept of blockchain technology and many people have invested in this. This is a worthy investment.

hoanghoatham04

member

Activity: 176

Merit: 10

Blockchain Just Entered The Real World

Quote from: fred22 on December 30, 2017, 05:07:14 PM

Bitcoin is very slow transaction and fee is rediculus then why people bother buying it or considering it. I have £130 of bitcoin and I want to move it and it is asking for £28 network fee. Why should people bother having it. I can't wait to get rid of it when the fee is low.

As I think it is a movement. If someone is investing in Bitcoin and they have more money. Everyone will be curious and learn to invest in Bitcoin. Due to the high demand, the price of Bitcoin will have to increase

tangsanzang7

newbie

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Quote from: fred22 on December 30, 2017, 05:07:14 PM

Bitcoin is very slow transaction and fee is rediculus then why people bother buying it or considering it. I have £130 of bitcoin and I want to move it and it is asking for £28 network fee. Why should people bother having it. I can't wait to get rid of it when the fee is low.

You don't know bitcoin to say it's useless.

PayneCharity

newbie

Activity: 126

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Quote from: fred22 on December 30, 2017, 05:07:14 PM

Bitcoin is very slow transaction and fee is rediculus then why people bother buying it or considering it. I have £130 of bitcoin and I want to move it and it is asking for £28 network fee. Why should people bother having it. I can't wait to get rid of it when the fee is low.

Bitcoins are expensive because Bitcoins can be used to trade Altcoins. Or you can understand that this is the crowd effect. If you see more people buy BTC, you will also buy BTC. That makes the BTC price increase

gezhid008

jr. member

Activity: 252

Merit: 1

At first, I thought bitcoin was a useless and deceitful thing. Later, I thought it was a tool for speculation. Later, I thought it was a valuable invention.

Bitcoin is still a good investment, and of course it can't be used for everyday use.

Hazaki

full member

Activity: 406

Merit: 156

Quote from: fred22 on December 30, 2017, 05:07:14 PM

Bitcoin is very slow transaction and fee is rediculus then why people bother buying it or considering it. I have £130 of bitcoin and I want to move it and it is asking for £28 network fee. Why should people bother having it. I can't wait to get rid of it when the fee is low.

So you are considering a currency that has a 140 Billion dollars of market cap , that has achieved almost the double of that 2 months ago and that has users from all over the globe as a useless coin ??
People has already made fortunes out of it , and who ever was futuristic enough and saw potential in bitcoin when it was valued at less than a dollar per coin is now a multi millionaire because of that .
The current value of bitcoin at the moment is estimated as the same when bitcoin was at it's start but on a much larger scale , and whoever buy it can just hold it and make a fortune out of it .
As for the network it is more and more getting clearer and the congestion is going away especially after so many people are showing support to the new segwitted adresses .
And no matter how things can get messy , you can't rate a coin that has been listed into the top 30 list of coins around the world and that has been compared to safe heaven assets such as gold and judge it as a "useless coin" .

popotao93

newbie

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People buy bitcoin not for payments. They just invest in bitcoin and store their investments in it. For translations, there are many altcoys with fast transactions and an inexpensive commission for the transfer.

dewi91

full member

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indeed until now we can't use bitcoin in daily rountin transaction yet but it's not mean bitcoin is useless because bitcoin is usefull for other things such as investment and trading. that is the reason why bitcoin price is increasing. a lot of people are really interested about bitcoin because it is really profitable.

mlkvch

jr. member

Activity: 120

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Ever heard of Lightning technology? A lot of developers are currently working on the issue of bitcoin transaction speed and fees. Once they are done with it, transactions will become fast and cheap again.

deredevil

member

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I think bitcoin has a system, technology, and skill that is quite reliable, which is not owned by any other coin. Especially with the expertise possessed by bitcoin that is able to control the growth of altcoins. With the price is very fluctuating, and can provide a profit that folded, making a lot of people are tempted to have it. But because bitcoin prices are so expensive, so many people feel overwhelmed by the price, then they prefer to buy altcoins that cost far below the bitcoin price.

ilnick

newbie

Activity: 322

Merit: 0

But this is not an indicator of uselessness, it is a drawback. It can be funny. Because of the desire to save a couple of tens of pounds on a transaction, you can lose more on the course.

Topic: Bitcoin is useless so why high price? - page 30. (Read 4708 times)