Bitcoin is useless so why high price? - page 40.

w33man

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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.

The thing is bitcoin's price is volatile and it is not always low, and what if the price goes higher then you will regret selling it at a very low price. That's why it is really ideal to hold onto it until the price goes back up, that way you can earn more than what you have spent in buying it. So, you still need to learn more about bitcoin.

breeze170

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Bitcoin isn't useless. Problem with bitcoin lies in its speed. It is very secure and probably best in stability. But its speed is so annoying now, I don't use it in my transactions anymore. I am bored.

alkhie01

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I don't think Bitcoin is useless,as you can see without bitcoin all of this upcoming projects are nothing.It maybe have low transaction and high fees but at the moment this is the useful currency in crypto world.I believe that someday it will be use in our society as use for payments.

abztabz

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i think bitcoin its not useless because bitcoin have a high price value in cryptocurrency even its unpredictable most of people use it

mitchr4

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The OP thinks it might be because he just used Bitcoin. Do not know in detail how Bitcoin works. Indeed Bitcoin currently has a high fee but that does not mean Bitcoin is useless. I think the problem of the high fee can be fixed later.

usechain

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I do not think bitcoin is useless. Bitcoin's price is so high because of the high cost of bitcoin, the price of BTC from scratch to the highest equivalent of an ounce of gold, though speculative and bubble-forming, but the price Long-term fluctuations around the value of the underlying source of bitcoin price is the value of bitcoin, the value comes from the use of bitcoin has many uses, so this is the value of bitcoin.

Jako0203

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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.

Bitcoin as you can see, is really high. But you can't say its useless. Many investors are using this kind of banking for a modernize economy. Its nice to see though, its very useful nowdays. Many wants to invest and grow their own ways! Thats the thing bitcoin isn't something you can say useless. Keep urself up!

Lingqingyi

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Why is bitcoin useless?
Bitcoin has become a convenient way to transfer assets between countries, and bitcoin, like gold has its value. It's not useless.

CarylnBoy

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I think the cost of bitcoin can not be flat because it always goes up over time leading to difficulties for small investors. I would like the competent bitcoin to advance in time for this important condition. And bitcoin is still one of the big currencies in cryptocurrency to always be traded.

antchains

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People believe in its value and potential. Bitcoin is the first cryptocurrency, the father of all cryptocurrencies now, and its price can essentially affect the price of all cryptocurrencies, which is more important than other cryptocurrencies. Although its technology is useless now, but it has a great investment value, it is worth to wait.

itf991

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Like being said before BTC the father of all cryptocurrencies therefore it is the most valuable asset out there and this won't change. Transaction fees and network speed are ridiculous of course what makes bitcoin to go for segwit2x to solve these issues before it's too late. Ethereum is facing the same problems were we have to pay an expensive tx fee during ICO periods. As far as I'm aware GoNetwork supposed to solve this issue by implementing an offline chain.

Ohni_io

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The value like always has been in peoples trust. And with major coverage brings in people who would not otherwise invest or just may not understand what bitcoin is about. I think there will be a continuing correction on bitcoin unless things like exchange costs get to a sane amount.

kopijos

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Quote from: R21 on January 24, 2018, 01:35:41 AM

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.

Yes bitcoin network fee is so much high, it's a panic for small investors, large amount or low amount transactions fee is same! I think it's impolitic system made by btc authority. I wish btc authority do advance step within some of time about this critical condition.

I think the bitcoin cost can not be flat and always go up in some time and be in some market. this causes little difficulty for small investors. so I think even though bitcoin has its flaws but bitcoin is still one of the great coins in cryptocurrency to always be traded.

Sevarchik

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Only demand in this market making price.
Community trust to the bitcoin, and btc never did not fail

R21

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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.

Yes bitcoin network fee is so much high, it's a panic for small investors, large amount or low amount transactions fee is same! I think it's impolitic system made by btc authority. I wish btc authority do advance step within some of time about this critical condition.

Sureness

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Quote from: gestknpa on January 24, 2018, 01:23:24 AM

Quote from: HappyLocust41 on December 30, 2017, 08:29:46 PM

Well, I agree with you. But what I think he meant was Bitcoin is useless as a mode of payment which I couldn't agree more.

if it is like this. That's really useless payment method. If you need to pay, I still choose to use banknotes and the like. After all, the value of bit pin is not as simple as payment.

Bitcoin fee is really getting high. But I don't agree that bitcoin is useless because it very helpful for us. Not just me who is a newbie in this forum but to all people who's using it.

gestknpa

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Quote from: HappyLocust41 on December 30, 2017, 08:29:46 PM

Well, I agree with you. But what I think he meant was Bitcoin is useless as a mode of payment which I couldn't agree more.

if it is like this. That's really useless payment method. If you need to pay, I still choose to use banknotes and the like. After all, the value of bitcoin is not as simple as payment.

deeofficialx

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It is not useless, maybe just outdated, even outdated phone is not useless, think that way. And being the father or the first cryptocurrency, it can't be ignored.

Acguy

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That's because a lot of people are using bitcoin and causing the network to be congested and a bidding system comes to play for who gets confirmed faster.

kristensoto

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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.

bitcoin rightnow is very high value, it is dominating the market for many years and the fee the exchanges charge us is getting higher due to slow transactions, so in order to minimize the fee for transactions we shouldn't transfer with too little money because the fee will be enormous for each transactions, we have to accept the fee because bitcoin is very valueable and too profitable now despite how much they slow or high fee.

Topic: Bitcoin is useless so why high price? - page 40. (Read 4708 times)