Topic: Bitcoin is useless so why high price? - page 37. (Read 4708 times)

you can not compare bitcoin with gold, bitcoin can be easily replicated with a computer and have no use even as a decorative element, gold can not be replicated, many people have tried and failed, with current technology It can be replicated but it is very expensive, it was created by supernovas, that is why it has been valuable throughout history, and gold will always be valuable and Bitcoin not.

Don't think of it as something you trade regularly. Its a store of value. So store it. 

I personally never get that much fee during the transaction and all the transactions are running fast. I think that may be the effect of your wallet and the bank you use for the purpose of the transaction. As long as i do a transaction with my wallet, the biggest fees is when i sell 0.3 btc and it costs only 5%.

first of all Bitcoin is not useless, Bitcoin has a high price because many investors support and in my country the one who can transfer to fiat money is bitcoin.

It's because it's the first crypto people ever know and it's like a some famous brand like Yamaha or Honda for bike some people didn't buy it because it's spec but because it's brand so it's something like that.

I think what he meant was bitcoin unlike other currencies and gold. But like you said. The meaning and effect of bitcoin is the reason for bitcoin's price. Not to mention the existence of blockchain.

For me Bitcoin is not useless at all. Bitcoin is the most largely accepted cryptocurrency in the world to date. It is also the most popular and everybody is talking about it. When things gets popular surely acquiring those things will require more money. Just Imagine a popular actor to a newbie actor the popular actor gets more pay compared to the newbie actor even though they are just the same actors in one movie. The popular actor will get good treatment compared to the newbie actor. That is the same with bitcoin, because of it's popularity that is why the prices are high even transaction fees are ridiculous. But people still choose use bitcoin because of it's popularity and wide range acceptance.

Bitcoin might be useless for now due to the obsolete of their technology, however we cant deny the fact that Bitcoin was the head of all the current and coming up coins. They tap on the technology of bitcoin to improve on either technology or other area that can be improved on..  Which is just like the computer technology we are using daily which was evolve from windows 97 last time.....

It's no longer a currency. You should know that.

Good strategy but converting bitcoin to doge might have some charges even I think it’s worth. I was converting ethereum from exchanges while sending to other exchanges. But for me no option while sending to local exchanges only option pay high bitcoin transaction fees.

yeah..., sure you currently use an IBM computer

bitcoin is the first to be created and because of its success altcoins emerge. and the main reason for altcoins to emerge was to improve Bitcoin’s flaws and to somewhat, try to compete with bitcoin by innovating and developing new features as to improve and surpass bitcoin limitations. so without bitcoin altcoins could be nothing.

Nowadays the only reason to buy Bitcoin is a speculative one - nobody is USING Bitcoins. Too many people trying to speculate with Bitcoin produces a rise in the price. But beware: what goes up can also go down...

Because Bitcoin is not useless but you are? Scalability problem will be over next few months. Meanwhile we are using Bitcoin as store of value. It's not a good way to send money for low amounts. If you won't send more than 10k USD at least, don't go for Bitcoin, just use a cheaper and faster altcoin.

Yes. btc is very similar to gold, you can not eat it or use it to buy something directly, but it is worthy, right? So that is the definition of currency, you should know that.

Bitcoin is useless in the same way gold is useless..it's not.

You don't use gold for everyday purposes.

you dont move gold around daily.

You hold gold for years until you need it.

Bitcoin also dominates the entire market. All pricing is based off Bitcoin. It's extremely useful and if it goes down, everything goes with it.

In my perspective the biggest rallies for Bitcoin are of the past. Last year we experienced again another crazy run, but when you're a small investor (like me), trading with less than $5000 I don't think it makes much sense to invest in Bitcoin anymore. Could it be profitable? Maybe, if you're seeking for a 3-4x gain this year. I still think this would be possible, but I would say this would be a year of the alt coins. Bitcoin lost a lot of ground if you're comparing the dominance of BTC now with a half year ago.
There are more and more promising ICO's with real potential (still only around 20% tops maybe) and a lot of the excisting coins/tokens on the market also have more potential to rise in price than BTC. Ofcourse we had a few months before the end of the year, where there was practicly no bad news whatsoever, which made all the coins rise exponentionally. Now the market is being shadowed by FUD in all kinds of forms and coming from all around the world. But, in the end, cryptocurrencies will stand ground. We HODL through all the nonsense and will likely rise, like we always will.
For now, every altcoin out there will still need Bitcoin. When BTC crashes, the market crashes with it. But it won't take long before this will change, I believe. And perhaps real privacy coins will be the best solution with all the regulations and SEC coming our way, who knows! We can only speculate and try to wrap our minds around it at this point.

In my opinion, the high fee doesn't make bitcoin useless. Of course the amount of the fee which you said is really high, but I think bitcoin has the biggest popularity and the highest price in the cryptocurrency world.

There will always be value when there's limited supply and high demand. Simple econ

This is new problem in bitcoin blockchain.
Regarding high price, bitcoin has high price before this problem appear. And alsi because bitcoin is the most famous one so thats why people demand bitcoin and it makes bitcoin goes in high price.