Bitcoin is useless so why high price? - page 41.

Coin12

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1st of May

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 is considering to use as trading pair of cryptocurrency but not use it for sending because its high fee.
Bitcoin now can not be used for currency and only for store of value. Bitcoin is still popular because the price remain higher.

VackFromOhm

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It's turtles all the way down!

It's the most established coin and the one that everyone has heard about. Due to the "Coinbase" effect, basically anyone can easily get bitcoin within a day, whereas with other coins you have to buy bitcoin first, then go to another exchange, which might be beyond most people's technical skills who are just buying it using apps and stuff. It's entirely speculation, but we all knew that anyways.

myrliska1313

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How can bitcoin be useless? He began the birth of cryptocurrency in general, so he will always be popular, especially since the common people have finally learned about him. The popularity grows, accordingly and price

iconoclast

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Matrix Built On An Ethereum Smart Contract

Bitcoin has value because of the size of its network, same reason Facebook has value.
Lightning network will solve the problem of slow speed and high fees.

KingScorpio

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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 is unobtainable by the banksters, and outside of their controll, it was originally also much cheaper to transfer values over long distances

even if bitcoin price collapses, thefact that it helped loosen the banksters grip wont be forgotten. satoshi had to be anonymous because of this.

regards

9tails

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Bitcoin is the father of crypto currency. Bitcoin high price because of high demand.

zeke29

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Besides in being the first cryptocurrency.

correct me if I'm wrong, I think bitcoin is the only way or the most known way to cash out your profit from other coins. (as of now)

Wink

mycoinlife

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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.

My opinion is pure speculation. Most people buy this bitcoin just to cash it out, which means no one wants a bitcoin. If a big bitcoin mining company wants to get filthy rich, they can just sell big amount of them with increased price to another company, then the cycle and snowballing continues until the price reaches the peak, they and other smart people who manipulating the market short it. The whole rising thing is based on hype, it just most people keep the coins just to perform these forex style trading instead of using it to buy stuff. Without much economics trading supporting and federal government scrutinising it, the top guys profit from this(pyramid schemes), while the average people who try to sell it will sell nothing but keeping these useless coins.

yamortsac

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Bitcoin is not useless. Transaction is slow and with high fee because bitcoin is in demand and many people want to invest on it. They believe that bitcoin will increase and continue to rise that's why they are still buying while the price is low now.

Odat

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Being the first doesn’t mean anything!. It might give you an advantage in the beginning but in the long run, that’s not enough!. There are better coins out there with cheaper fees and much faster than bitcoin and I think they’ll eventually replace bitcoin. Most people who are not familiar with the technology that buy bitcoin buy it as it’s the most famous one but don’t really understand the technology. MySpace was first but when Facebook came along with a better product, it wiped MySpace off the map. I personally don’t see a good future for bitcoin. Again, this is my opinion.

Greenrace

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there are some exchanges that ask for a high fee but there is also a low exchange fee for example 1%. So even so people still want to have bitcoin because the price is good for investment

iarkusha

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it good investment as we have proof on the chart

rehydrogenated

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That is a question I have been asking since Bitcoin was $80. Bitcoin can continue to get better, but all the miners especially would have to agree to work together and decide on a fork plan that isn't contested.

hyunee

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Bitcoin is being useless because of the fee? The fee is always there whether the price of bitcoin is high or not. What matters here is holding Bitcoin. People tend to buy Bitcoin as of now because of its low price or value. They all say that when one value of a coin becomes lower it is now your chance to buy that coin and hold it for a longer term. You'll never know as it is unpredictable that the price of Bitcoin will gets pump. And we all know that it is the number cryptocurrency so it really has a tendency to get pumps and reach its finest and let's see the profit.

Mary_Swift

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Quote from: Acguy on December 30, 2017, 10:57:28 PM

It is the first crypto currency and it is like the usd to the NYSE.

In a sense Bitcoin is a legend of cryptocurrencies. Everyone wants to have a legend.

Joriecoinbit

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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 is not useless at all because the price of bitcoin is so high. I would consider bitcoin as a powerful because we can gain profit and earn as much as we can. If we are talking avout useless it means the things that we cannot use for life and no value at all. But bitcoin gives stable life and successful to the near future. Bitcoiner will be happy if the price is keep on the high percentage.

yura888

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“Create Your Decentralized Life”

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.

If you still have bitcoin, you can already send it. Even small amounts, the commission became very good in order to send bitcoin

rodmanqs

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For those who are painfully experiencing correction and are afraid that Bitcoin is over. I did a technical analysis for you and found out that everything would be fine with Bitcoin. The graph showed that on February 22, Bitcoin will restore its maximum values (just after the Chinese New Year, coincidentally coincided). So you can not worry, tech analysis will never deceive.

KeithBeeCham

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Marketplace for sensor data

Bitcoin is having a massive problem with the average transaction fee of 0.001 BTC / transaction. Also confirm the time is very long, causing discomfort as well as anxiety for everyone. Future if Bitcoin does not overcome Ethereum will easily replace this weakness with Blockchain 2.0 technology.

Blas

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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.

First of all, Bitcoin is not useless. Unfortunately now it is not worth to have small amount of Bitcoin, because the transaction fees are big. But if you want to move a couple of bitcoins than 28$ won’t be a problem.

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