Topic: Bitcoin is useless so why high price? - page 43. (Read 4708 times)
Bitcoin is certainly useful. Are not we now that many online shops adopt Bitcoin as a payment method on their website. Although Bitcoin transactions are slow and more expensive transaction fees (value is based on Fiat), it does not affect the Bitcoin price, because of the high demand for Bitcoin.
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 type of thinking would stop someone from investing in something for the future. Example: Look at any tech company in the early 2000s. Nobody thought they were going to succeed in the current climate. Heres the key. Nobody is investing long term in the current climate. They are banking on the technology surrounding that investment to catch up. Technology will catch up to BTC and make it useful. Just give it time.
It's first cryptocurrency, and many people only heard about bitcoin. Then buy it and the price grow. And so in a circle.
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.
Your statements are a bit counteractive, you say bitcoin is useless right now because of the high fees (I agree) but then that you will get rid of it when the fees are low (why move it once the problem which makes it useless is solved?)
It's not like everyone has dropped bitcoin all of the sudden, things will stabilize again.
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 in downward trend,
when the tx fee becomes more reasonable it will sablise and the market will support bitcoin again, so if you own bitcoin sell it,
regards
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 fees is really high, but I don't agree that this is useless because I believe in the future of every cryptocurrency and bitcoin is one of them. If you really think bitcoin is nothing then stop holding on it. Bitcoin will be better in 2018 and people who sold it on panic will surely buy back.
First off, why would you say it's useless. I mean, right now, it has a very high price point, plus it's marketability has been really up there. These are not the only things that make bitcoin quite relevant right now. It has really opened a lot of opportunities and doors for bitcoin to be seen and to continuously prove its potential. So, having said, people keep it as an investment or some sort of a savings that they can get or use in the future.
That's a bit of a circular argument. Bitcoin will always have a special place in my heart (and my portfolio)- but it is rapidly becoming legacy tech because of lack of community consensus on solving the scalability issues. Segwit2x doesn't solve them- it just kicks the can for another 3 year debate (by which time it'll be useless), and Lightning is heresy because it goes off-chain. Bitcoin was designed for one purpose- the be a mechanism for a Transfer of Value- it's been argued that it is a 'Store of Value' but it's really not good at that because of the characteristics of cryptocurrencies. Bitcoin is at a cross roads- it can either upgrade itself to face down the 2nd generation cryptocurrencies, or go the way of Betamax and gradually deflate in value over time.
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.
For now this is the situation of bitcoin which it do really have high tx fee which isnt really worth it to make transactions specially on smaller amounts. Fees will hurt you out but its not a hindrance for me to continue to engage with bitcoin because i do believe this thing would really be innovated or changed soon. Bitcoin isnt useless if you do try to look how big the community is on its current state. 
It is not useless. I think it is reserve currency of this cryptocurrency world like gold. And many see it as safe harbour.
I look at BTC as at Dollar. It's like a father of all cryptocurrencies. Yes, it is slow, expensive and needs lots energy to be mined, but for now there isn't alternative coin for this role. Nobody knows what we will have tomorrow and if BTC will so important as today. But i always keep 40-50% of my portfolio in bitcoin and other part in Altocoins and sleep well night)
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 fees is really high, but I don't agree that this is useless because I believe in the future of every cryptocurrency and bitcoin is one of them. If you really think bitcoin is nothing then stop holding on it. Bitcoin will be better in 2018 and people who sold it on panic will surely buy back.
First off, why would you say it's useless. I mean, right now, it has a very high price point, plus it's marketability has been really up there. These are not the only things that make bitcoin quite relevant right now. It has really opened a lot of opportunities and doors for bitcoin to be seen and to continuously prove its potential. So, having said, people keep it as an investment or some sort of a savings that they can get or use in the future.
I think people are so impatient and can't wait for a change that's why they shift into altcoins. And it also sounded like a FUD because you want the price to get down. Well, you are sorry because it doesn't affect to a long-term holder. lol
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.
I guess its what everyone have to live with at this time and the only thing we can all do is just to hole that things will get better either by design or by mistake. Things just needs to get better because without that, I see bitcoin losing its position really fast to other alt coins that are competing for that position which is really happening fast and the series of improvement that should be witnessed in the coming year will have to be put on hold for now.
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.
A good solution will be to buy ethereum and sell through ethereum. Because it is a good, stable coin that will not be lost price in shipping for a few minutes I've been converting it to DOGE to send it between exchanges. 120000sats to withdraw from cryptopia or 3DOGE (180sats).
well you learn something new every day, thanks for the tip
I've been converting it to DOGE to send it between exchanges. 120000sats to withdraw from cryptopia or 3DOGE (180sats).
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 latest segwit 2x hardfork just another shit to give a very big pre-mined token to the unknown developers, Already discussed in some crypto news site about segwit 2x. The bitcoin only win on its mass adoption. Rather than bitcoin and if you are using ethereum, and it may only cost around $0,3 for every transaction. Bitcoin is pretty ridiculous.
As of this past week, bitcoin is indeed pretty fucking useless, and you're pretty much in denial if you don't think so. That's not just my ego talking. I can't sell what I have, nor can I spend it because the cheapest fee on my Mycelium wallet is about $43--and there's no way I'm spending that amount just to spend a somewhat larger amount (around 0.015BTC). This is insanity. Once the network fees come back down, I'm out of bitcoin for the forseeable future. I'm going to hold something else.
Bitcoin itself isn't useless--the concept is fantastic--but what it's become is a joke. I don't care if it goes to $1million. If I have to include huge fees just to send small amounts...that's not for me.
Bitcoin itself isn't useless--the concept is fantastic--but what it's become is a joke. I don't care if it goes to $1million. If I have to include huge fees just to send small amounts...that's not for me.
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.
Is not useless because it is paired with most altcoins in exchanges, hence if you want to trade you need to buy. However, I agree, high fes are going to kill the coin.
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.
Right now that is indeed the problem, however since bitcoins are really flexible and a the whole community sees the problem perhaps another push for segwit2x would occur and that it would likely unite the whole community this time around. As the transactions has not really improved after just the initial segwit upgrade, I think the upgrade to a segwit2x would be a much needed one. Well this will result to another debate over the upgrades all around the community but I do hope we reach a consensus before it is too late that everyone wants to get out of BTC.
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