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Author Topic: Besides its speculation ,what is the real use of bitcoin ?  (Read 2511 times)
DoublerHunter
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May 13, 2017, 08:49:30 AM
 #41

I think the real use of bitcoin is to become an additional currency to our current fiat currencies that are available in the market. Bitcoin is one of the best tool for the people who want to have investment and also money to be used online without having a problems for the taxes because bitcoin is tax free so we don't need to spend or get reduce from our money there.

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dinofelis
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May 13, 2017, 09:43:43 AM
 #42

without having a problems for the taxes because bitcoin is tax free so we don't need to spend or get reduce from our money there.

I think this is extremely naive. 
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May 13, 2017, 10:45:53 AM
 #43

Now the world is crazy about bitcoin!

We talk about its price ,its mining all day.

Besides its speculation ,what is the real use of bitcoin ?
I think the real use of bitcoin is a payment method, uncontrolled payment method spesifically even by the government or the bank as the creator Satoshi propssed on his paper  "a system for electronic transactions without relying on trust" but i don't know is it just me or... the bitcoin as payment method seems like annoying, the transaction of the bitcoin is extremely slow if we compare it to the another payment form out there let's say paypal. One thing that make bitcoin still exist as payment form i think it's simplicity and the fee (for big transaction of course), i hope this issue will be fixed soon, because there are too many competitors out there.

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ekoice
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May 13, 2017, 10:50:53 AM
 #44

Now the world is crazy about bitcoin!

We talk about its price ,its mining all day.

Besides its speculation ,what is the real use of bitcoin ?
Financial freedom which bitcoin has provided to a common man even if he is from an under developed country.
No more dependence on banking sectors for transactions and no more huge transaction fees.
Giving full control over our money through wallet.
Ever growing price which has termed bitcoin's name as digital gold.
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May 13, 2017, 11:17:09 AM
 #45

Now the world is crazy about bitcoin!

We talk about its price ,its mining all day.

Besides its speculation ,what is the real use of bitcoin ?

bitcoin is designed to work as a new medium of exchange so it is obvious that the real purpose of bitcoin is to be currency and a payment method which is very much like our primary currency and it is just starting to considered as a digital assets that can be also an investment probably most people are confusing to it .

makolz26
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May 13, 2017, 11:34:41 AM
 #46

Now the world is crazy about bitcoin!

We talk about its price ,its mining all day.

Besides its speculation ,what is the real use of bitcoin ?

bitcoin is designed to work as a new medium of exchange so it is obvious that the real purpose of bitcoin is to be currency and a payment method which is very much like our primary currency and it is just starting to considered as a digital assets that can be also an investment probably most people are confusing to it .
That is true, that is the purpose and main reason why bitcoin exists, the uniqueness of it is that it is anonymous of whom is the owner of it unlike in cash, and also the value  of it is continuously increasing as of today. Of course, it is not because bitcoin wanted to replace cash but as an alternative way in the said transactions.

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virasog
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May 13, 2017, 02:08:26 PM
 #47

I think the real use of bitcoin is to become an additional currency to our current fiat currencies that are available in the market. Bitcoin is one of the best tool for the people who want to have investment and also money to be used online without having a problems for the taxes because bitcoin is tax free so we don't need to spend or get reduce from our money there.

Exactly, Bitcoin has lots of real benefits and speculation of bitcoin price is only used by traders or investor. A normal person uses bitcoin to transfer money from one country to another free of cost. Previously one has to use paypal, western union and other expensive services which cost them lots of taxes , fee etc but bitcoin has made it virtually zero fee transaction all over the world.

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FasTroy
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May 13, 2017, 02:42:20 PM
 #48

Bitcoin can be used in different ways, The simplest way we can convert it to fiat or in other alternative coins. because is too good for trading, people can earn a lot by using it in the market. you can buy anything anonymously, no one can track your orders like when you pay with your credit card. furthermore transactions fees are very low.

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May 13, 2017, 03:20:49 PM
 #49

illegal people use Bitcoin for illegal activity. Bitcoin protect the identity and no one can find out who we are


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May 13, 2017, 06:20:31 PM
 #50

Now the world is crazy about bitcoin!

We talk about its price ,its mining all day.

Besides its speculation ,what is the real use of bitcoin ?
Bitcoin is pretty much used for things that can only be purchased online at for a special price. Bitcoin could get used for offline payments as well though there is not that many people that accept Bitcoin transactions offline right now. Since the price of Bitcoin is going up, there is a bunch of things that could be purchased online for a discount. I've purchased Bitcoin at a cheap price and was able to get a bunch of discounted things online.

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May 13, 2017, 07:04:55 PM
 #51

Now the world is crazy about bitcoin!

We talk about its price ,its mining all day.

Besides its speculation ,what is the real use of bitcoin ?

Not all countries can benefit on bitcoin because some of them can't access to internet and even if they do they don't have time to check on it. The real use of the bitcoin is really up to you. You can always check online on what you can use on it but most commonly people use bitcoin in gambling, investing, buying and selling. Those are the most common things to use bitcoin, as for me put my bitcoin on investment because I wan't to earn more than what I have now but it really depends on you there many ways you can do with bitcoin.  Smiley


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btcforall777
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May 14, 2017, 10:59:35 PM
 #52

Who cares as long as the people that are crazy about it continue to make money. If that stops then as the question. Besides bitcoin is still trying to find its place.
Bitcoin is at it developmental stage and because of this op may never thing that outside speculation bitcoin has no any other means. Bitcoin as a crypto currencies was made to be a decentralized currencies, store of values, mode of payment  and medium of exchange. We may not see the full values and potential of bitcoin today but in near by future we shall see it.

Thats what Im talking about. Why does everybody expect everything to happen in a few days or weeks? So when people say Bitcoin can hit $10,000 of $100,000 they are absolutely right.
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May 14, 2017, 11:05:13 PM
 #53

Now the world is crazy about bitcoin!

We talk about its price ,its mining all day.

Besides its speculation ,what is the real use of bitcoin ?

What you are doing right now is the use of Bitcoin. It is intended to create a new type of payment that is thru internet. To provide convenience to us, with Bitcoin. You can easily pay/receive money to another person without going somewhere which saves time and money. Due to our busy schedule, we  need a currency that will enable us to make a transaction wherever and whenever we are available, and Bitcoin gives us that opportunity. Now, the exchanges are the secondary use of Bitcoin, we can use it to earn profit by trading it with other currency and maximizing its fluctuation to generate profit.

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MingLee
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May 14, 2017, 11:07:32 PM
 #54

illegal people use Bitcoin for illegal activity. Bitcoin protect the identity and no one can find out who we are
Criminals can try and use Bitcoin as effectively as they may to try and perform illicit activities, but a lot of the time there simply isn't enough anonymity provided by something like Bitcoin for it to be of much use to criminals. They can utilize a lot of other cryptos that are a lot more secure and anonymous than Bitcoin is. With enough dedication anyone can be traced using Bitcoin. With other cryptos it's a lot harder.
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May 15, 2017, 06:17:42 AM
 #55

Now the world is crazy about bitcoin!

We talk about its price ,its mining all day.

Besides its speculation ,what is the real use of bitcoin ?

Global payment processing dude, without the need of a central authority/controller or government.

freedom of your finances... not meaning it to say you'll have a shit load of money i mean it in the since that your money even if its just a little bit that you own is your money and cannot be denied to you or stolen from you buy an organziation or government because they control it. thats what it is to me. it gives me the freedom to do what i want with it and keep the nosy little shits from the government out of it.

on top of just that basic tier of things i like it should be noted that now wealthy governments cant steal the funds of poor governments who are using bitcoin as there currency meaning there might actually be hope for third world countries. bitcoin, to me, is the best currency there is. fiat currencies contain to me bs things that say certain people can come and take what you've worked your ass off for without any realistic cause or legitimate reason.

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May 15, 2017, 10:55:18 AM
 #56

Just because bitcoin was taken by the speculators money, doesnt mean it have no other uses. If bitcoin would have only the role of a speculation vessel, it would just be pump and dump scheme like some subprimes. It constantly rises in price because of the hodlers that believe it has a lot more value than the fiat it was bought with.

Usage that is harder or imposible to do with dollars:

1. Big money transfer with low fees.
2. Micropayments.
3. Easy to give tips with over the internet.

And everything of this being scam free.
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May 15, 2017, 06:25:51 PM
 #57

The simple fact that it is decentralized gives it value. It opens up opportunities for the unbanked. Access to capital via p2p lending, decentralized marketplaces, more privacy. These are just a few. I like the idea of someone in a 3rd world country getting a p2p bitcoin loan, and selling goods and services globally even in a decentralized marketplace and making money to support a family. An opportunity that never would exist with bitcoin

Look at the big picture.
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May 16, 2017, 10:36:34 AM
 #58

Now the world is crazy about bitcoin!

We talk about its price ,its mining all day.

Besides its speculation ,what is the real use of bitcoin ?

You have entered the community and didn't know the use of Bitcoin, the real use? You know you can google it or search in the forum so you will wake up and know. Like in what way will you use Bitcoin and in what manner does it help you?

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June 08, 2017, 04:12:36 AM
 #59

Well, Bitcoin can be used to buy things: (https://spendabit.co). It is peer to peer which is completely different to government tendered money, namely fiat. It is also a deflationary currency that is capped at 21 million coins.
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June 08, 2017, 06:20:30 AM
 #60

Just in case if anyone is wondering what is the use of Bitcoin, what can you do with money when you have money what do you do with it?

You can spend it of course and easier to spend with ability to spend world wide also makes it more convenient and as a result we see crazy

Popularity and people rushing towards the whole thing. I'm sure when for the first time rail roads were invented and built after a while people

Started to see the benefits and as a result we had an industrial evolution with the help of steam engines. right now flying cars are in story books

But recently some prototypes of them were launched in to the air as air taxis in some country in EU. where ever international banks are blocking

Your access to their transferring of money system you could use Bitcoin instead and since it is a world wide accepted currency the other party

Shouldn't face any trouble cashing it out.
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