Bitcoin is useless so why high price? - page 35.

Ailmand

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Quote from: iblistenan on December 30, 2017, 06:34:47 PM

Its not useless, it still become good investment. Sure it cant be for daily use you know the fees and slow transaction but still, its bitcoin the father of cryptocurrency.

I agree. I think the post is just to inspire people to show their sides on why they support Bitcoin. I think it's not useless because it has improved the trade and investment market a lot. Many people, companies, and even countries alike have improved themselves, their business and their economies respectively. It has helped many people become more stable financially. It also also improve the business system in a way that it offers more options to people as a currency, and it also gives more options to traders and investors as a medium of investment.

LUCKY21

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Bitcoin is a great investment coin. And it seems to me that this is what bitcoin is all about. For the rest of the tasks, there are altcoyins who perfectly cope with this. Bitcoin is digital gold. And he has completely different tasks.

Aminmon

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I don't think the bitcoin is useless, after the lightning network to improve the shortcoming of the bitcoin, then the value of the bitcoin is much more than now, because it will be a good pay system, widely used in our real life.

upsidedown75

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Quote from: ausbit on February 22, 2018, 03:34:49 AM

Quote from: DAN29 on February 21, 2018, 09:15:33 AM

How'd you say it's useless? It's the first cryptocurrency in the world and altcoin will never be invented if there's no bitcoin.

I believe that OP cannot give you any proper explanation for why bitcoin is useless. Only for the people who do not understand the complete system of bitcoin may call it useless. Bitcoin is the first decentralized momentary system which must be very new for all of us. The usefulness of bitcoin will be understood by everyone in coming years after getting familiar with the real applications of bitcoin system.

Yes, the fact is it is too early to call bitcoin is useless. Because we do not have all the required infrastructure to realize the real potential of bitcoin ecosystem. We must give it some more time so that we can find out how useful it will be.

Probably in coming years more people will come with many new ideas to develop those infrastructures so that bitcoin will deliver for what it was really invented.

CryptoClown

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Quote from: fred22 on December 30, 2017, 06:07:14 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.

This was posted more than a month ago and there's already changes with how much is the transaction fees for Bitcoin now. If I am not mistaken it only costs a cent to $2 depending on the amount to be transferred. I remember buying Bitcoin a month ago, I was so shocked to see the price which is almost an investment but I ended up buying it for the sake of the future Grin

KTPU777

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Quote from: fred22 on December 30, 2017, 06:07:14 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.

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.

adam1230

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Its the name of crypto coins. So bitcoin will have high price forever.
Its now not useless i started to send funds and making transactions. tx fee is not crazy as few months before.

buhna

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This is useless temporarily. If someone enters a good payment system, then bitcoin can be paid as usual money. And of course everybody wants to be rich))

hiddenmist

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Quote from: fred22 on December 30, 2017, 06:07:14 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 means you have lack of education regarding bitcoin. Better do your own research before investing in any coin and please stop blaming he coin because of your lack of knowledge about a specific coin. It is your responsibility to make a research before entering any investment.

slaman29

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I wonder if OP is still around with his bitcoins that he couldn't wait to get rid off when the fee became low weeks ago. I wonder even if he would consider zero fee alts, there are quite a few around. Then I'd be extremely curious if he managed to find even one other user who would accept his alt, not to mention if he could find a merchant he could pay the alt to for a service or product.

Otherwise, he would truly have a "useless" crypto on hand.

Zuilhsa

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The assumption is wrong first. Something that is useless won't trigger up. People are in need of it, as the demand is increasing so as is its price value. The transaction charge is high but the scalability problem can be improved by implementing a new bitcoin code which makes transactions potentially much more cheaper and faster.

liangweicha

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Although the bitcoin transaction costs are high, but the bitcoin is still the encryption money market leader, and the bitcoin is a kind of assets, each country and even ready to put the bitcoin as currency.

JanuaryStars

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Yes I agree that transaction cost with bitcoin is quite high, more so with transactions of low quantity. so better transact in big volumes so as not to feel the density of transaction costs. However, I disagree with you saying bitcoin is useless. The future is making it's way in a fast paced manner and overwhelmingly beneficial, and bitcoin is always with it.

maimainguyen05

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According to many experts, Bitcoin has failed on its way to becoming a currency for use in transactions. Bitcoin rates are at a high level because people treat it as a property to own, and when the exchange rate goes up, they will sell to make a profit. The future of the currency will be cryptocurrencies, but it will probably not be Bitcoin, but altcoins, which is Ethereum

))

dhka

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Quote from: fred22 on December 30, 2017, 06:07:14 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 the reason why you see cryptocurrency as you do now dude. Give respect to where its due.

Bitcoin is the only coin which has been tested globally and still proven until now. There were many kill attempt but as you can see, Bitcoin still reign as a king. Yes it is old, yes it is slow, yes it has outrageous fees, just spend more time in crypto and you will understand why Grin

ausbit

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Quote from: DAN29 on February 21, 2018, 09:15:33 AM

How'd you say it's useless? It's the first cryptocurrency in the world and altcoin will never be invented if there's no bitcoin.

I believe that OP cannot give you any proper explanation for why bitcoin is useless. Only for the people who do not understand the complete system of bitcoin may call it useless. Bitcoin is the first decentralized momentary system which must be very new for all of us. The usefulness of bitcoin will be understood by everyone in coming years after getting familiar with the real applications of bitcoin system.

tamango

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Transaction fees are too high and network is slow.. there is also another big problem: mining bitcoin costs too much energy!
BUT, this is the first and most known crypto, so, for now, is still the "king".... but I think that in 2-3 years ETH will replace BTC in 1st place...

dificanovi

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Quote from: fred22 on December 30, 2017, 06:07:14 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.

people are racing to buy bitcoin because the profit from bitcoin is overwhelming. bitcoin many people enjoy because every year the price increases. bitcoin is a definite and promising crypto currency than any other coin. by earning a lot of bitcoin then they do not really consider the cost they will spend.

carlisle1

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Quote from: fred22 on December 30, 2017, 06:07:14 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.

its nor bitcoin whos useless,but its You..block chain is congested that time because of high value and lots of transactions have been goinh that time.so what would you expect?why you wanted to convern your funds that time?just because of HIGH PRICE RIGHT?so youre the one who wants to take advantage of the situation

Tapyaks72

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Bitcoin is really useful for some things, like to buy and sell at exchanges and as a reserve of value in many cases, it is just not that useful sometimes depending on the network.

Yeah you cannot say it useless for the trillion market cap can you imagine how large bitcoin is, it is like a GNP of small a nation, bitcoin is not a joke and being recognized as a treat to their economy . If it continue to prosper it even become more powerful than Us dollar. And because of its aggressiveness investors are flooding
Trying to buy that is why the value is high.

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