Bitcoin is useless or is it?

[jovs]

Even with high fees,bitcoin is still used and would be used in future also for transactions.It would be better if there is lesser fee but people will not go to altcoins for this reason.

Now that bitcoin has really taken over the world, it is not being used, acknowlegde and known to many users nowadays it is really not good that fees for transactions are raising high. Like where do this fees go. They promised small fees for every confirmation of any transaction. But yeah, even though this is happening bitcoin will still be known, and used.

[deisik]

Oh my god... An asset with almost 30 billion dollars and you're asking whether or not it's useless. 

Yeah, and still more so given that Bitcoin is nowhere near being worth 30 billion dollars (or even 20B dollars)

I thought increase in transaction fees is directly proportional to increase in Bitcoin value or prices

False, for the n time.. there is no link between the tx fee and the price of bitcoin.
Bitcoin could reach 100k but if there are no transactions or under 200k /day you could still send payments with 1 satoshi per kb.(and get confirmed)

Also, even if the price drops back to 1000 but we experience 10x more transactions get ready for fees up to 3$ for input

You are false and that got confirmed

Since you yourself mentioned transaction fees in dollar terms, it is as clear as day that the size of transaction fees is in linear dependence over Bitcoin price (provided all other things remain the same). I guess this is what the poster you replied to meant, i.e. transaction fees in fiat terms, just like you said yourself. After all, it was your claim that Bitcoin is there only because of fiat and people are ultimately interested only in fiat, not in Bitcoin. It kinda looks you should stick to your guns, shouldn't you?

[stompix]

Oh my god... An asset with almost 30 billion dollars and you're asking whether or not it's useless.  

Yeah, and still more so given that Bitcoin is nowhere near being worth 30 billion dollars (or even 20B dollars)

I thought increase in transaction fees is directly proportional to increase in Bitcoin value or prices

False, for the n time.. there is no link between the tx fee and the price of bitcoin.
Bitcoin could reach 100k but if there are no transactions or under 200k /day you could still send payments with 1 satoshi per kb.(and get confirmed)

Also, even if the price drops back to 1000 but we experience 10x more transactions get ready for fees up to 3$ for input

You are false and that got confirmed

Since you yourself mentioned transaction fees in dollar terms, it is as clear as day that the size of transaction fees is in linear dependence over Bitcoin price (provided all other things remain the same). I guess this is what the poster you replied to meant, i.e. transaction fees in fiat terms, just like you said yourself. After all, it was your claim that Bitcoin is there only because of fiat and people are ultimately interested only in fiat, not in Bitcoin. It kinda looks you should stick to your guns, shouldn't you?

What a surprise ... 4 lines on text.
Deisik the four liner.

How about you stick to your English manual cause "stick to your guns" doesn't mean what you think it does.
And if anything it means the exact opposite in this situation.

Or are you really encouraging me?
Go away (please) take a break, 4liners are too much for you.
 

[deisik]

Oh my god... An asset with almost 30 billion dollars and you're asking whether or not it's useless. 

Yeah, and still more so given that Bitcoin is nowhere near being worth 30 billion dollars (or even 20B dollars)

I thought increase in transaction fees is directly proportional to increase in Bitcoin value or prices

False, for the n time.. there is no link between the tx fee and the price of bitcoin.
Bitcoin could reach 100k but if there are no transactions or under 200k /day you could still send payments with 1 satoshi per kb.(and get confirmed)

Also, even if the price drops back to 1000 but we experience 10x more transactions get ready for fees up to 3$ for input

You are false and that got confirmed

Since you yourself mentioned transaction fees in dollar terms, it is as clear as day that the size of transaction fees is in linear dependence over Bitcoin price (provided all other things remain the same). I guess this is what the poster you replied to meant, i.e. transaction fees in fiat terms, just like you said yourself. After all, it was your claim that Bitcoin is there only because of fiat and people are ultimately interested only in fiat, not in Bitcoin. It kinda looks you should stick to your guns, shouldn't you?

What a surprise ... 4 lines on text.
Deisik the four liner.

How about you stick to your English manual cause "stick to your guns" doesn't mean what you think it does.
And if anything it means the exact opposite in this situation.

Or are you really encouraging me?
Go away (please) take a break, 4liners are too much for you

I know perfectly well what the phrase means and when it is used (but you may want to finally find out)

It means that even if you are trying to troll (which is what you are doing here, the Witch will punish you), you should do that wisely. Otherwise, you'll be a ludicrous and despicable troll which doesn't know where his mouth is (think clown here). That means as well that you should remember what you had been saying at least yesterday if not before that, i.e. not to say things which are in direct "opposition" to what you claimed previously. In this case specifically, I remember how you were laying yourself out proving that people don't care about Bitcoin, that all they care for turns around fiat, and things like these. And now you defiantly forget all that you have been preaching for and against yourself. I hope this gets through somehow

[Kyraishi]

For me, Bitcoin is very useful. I can use it in every transactions and payment. This is one of the best things I've ever known in bitcoin. There are no transaction fees and no need to give your real name. In bitcoin transactions, banks are not involved. Bitcoin solely stands on its own.

What do you mean exactly? I cannot actually understand what did you say.
It is true that when you are transfering your bitcoins to somewhere else, you dont give up your identity to any kind of authorities or banks, but everybody in the world connected to the internet can see your transaction , so it is all about listing an person to specified address: which is an extremely hard task in most cases.

But you have said that there are no transaction fees for using blockchain, but I think I dont even have to mention that, because everybody interested in cryptocurrencies know that bitcoin has something like "miner reward", which means that you pay some satoshis for getting transaction confirmed!

[BitDane]

I guess with the current transaction fee, we should forget about bitcoin is for buying a cup of coffee, things are evolving and so is the problem with bitcoin scaling and transaction fee.  But even if this problems are around, I do not think bitcoin is useless.  There is always an alternative use for Bitcoin.  Before the scaling is fixed, I think it is better to use bitcoin as store of value. 

[futureofbitcoin]

Bitcoin is useless for those who are not aware about bitcoins or who don't know how to make money out of it in the best possible ways and people who are aware about bitcoins are making good and enough money from it on regular basis and will never find it useless.

[kidoseagle0312]

i don't remember getting the memo about bitcoin is supposed to be cheap, and it certainly has never been the main reason for using it.

maybe people have forgotten what decentralization means! what it really means when you are in full control over your money without needing a fucking bank to tell you what to do with it, to block your money, take whatever they want from you, government put their hands in your pocket, ...

we all know fees are high and we prefer it to be lower, we want to still be able to send transactions with lower fees. specially since miners don't deserve the extra income at this point with 12.5BTC reward per block. but that doesn't change anything about bitcoin's usefulness.

I do agreed,  that most people of the bitcoin community they forgot what decentralization what it really means,  we shouldn't forget that we are in full control of our own coin we hold. Therefore,  for me it doesn't matter if the fees for every transaction is high for what important is it confirm and sent to our wallet, and I don't think that it will be useless,of course not, it still will always be useful,

[btcforall777]

i don't remember getting the memo about bitcoin is supposed to be cheap, and it certainly has never been the main reason for using it.

maybe people have forgotten what decentralization means! what it really means when you are in full control over your money without needing a fucking bank to tell you what to do with it, to block your money, take whatever they want from you, government put their hands in your pocket, ...

we all know fees are high and we prefer it to be lower, we want to still be able to send transactions with lower fees. specially since miners don't deserve the extra income at this point with 12.5BTC reward per block. but that doesn't change anything about bitcoin's usefulness.

I do agreed,  that most people of the bitcoin community they forgot what decentralization what it really means,  we shouldn't forget that we are in full control of our own coin we hold. Therefore,  for me it doesn't matter if the fees for every transaction is high for what important is it confirm and sent to our wallet, and I don't think that it will be useless,of course not, it still will always be useful,

Yes its all about decentralization. "We" can change the fee structure if needed. It will take a lot more than high fees to make bitcoin irrelevant.

[whizter]

It not useless and not dieing at all its normal for the price to go up and down in many times but ee all since the bitcoin success in passing years and become the most successful cryptocurrency we cant expect it to die easily.

to me in present time  i think bitcoin is one of the most popular currency of the world. and therefore i do not think that there is not a single reason to consider bitcoin as useless.  i think bitcoin is becoming more and more useful because still people are entering in the field of bitcoin and even investing their bitcoin here and therefore they are  making bitcoin most popular currency of the world.

[MB boss]

It not useless and not dieing at all its normal for the price to go up and down in many times but ee all since the bitcoin success in passing years and become the most successful cryptocurrency we cant expect it to die easily.

to me in present time  i think bitcoin is one of the most popular currency of the world. and therefore i do not think that there is not a single reason to consider bitcoin as useless.  i think bitcoin is becoming more and more useful because still people are entering in the field of bitcoin and even investing their bitcoin here and therefore they are  making bitcoin most popular currency of the world.

You are right as for almost all of the people who have adopted bitcoin it is useful currency. They are praising this currency and for their needs they use only this currency. It is providing more convenience for trade, transactions and online shopping etc.

[tabas]

Bitcoin is useless for those who are not aware about bitcoins or who don't know how to make money out of it in the best possible ways and people who are aware about bitcoins are making good and enough money from it on regular basis and will never find it useless.

And bitcoin is simply useless to those who sold it at lower price and they can't move on with that move they did. Bitcoin will never be worthless right now, come to think of it a crypto coin that has a value now of $1,700 and there's a bigger chance of it to fluctuate more. These people just want to spread FUD and want to scare people.

[Fireblade]

It not useless and not dieing at all its normal for the price to go up and down in many times but ee all since the bitcoin success in passing years and become the most successful cryptocurrency we cant expect it to die easily.

yes bitcoin s not useless, it is one of the most strongest currency of the the online world. most of the people are now using for online purposes. peple are now doing shopping using bitcoin. they use it for online shopping as well in some places they are also using bitcoin in local shops, in fact bitcoin is the money and it can be use as fiat currency without changing it in to local currency.

[stompix]

Oh my god... An asset with almost 30 billion dollars and you're asking whether or not it's useless.  

Yeah, and still more so given that Bitcoin is nowhere near being worth 30 billion dollars (or even 20B dollars)

I thought increase in transaction fees is directly proportional to increase in Bitcoin value or prices

False, for the n time.. there is no link between the tx fee and the price of bitcoin.
Bitcoin could reach 100k but if there are no transactions or under 200k /day you could still send payments with 1 satoshi per kb.(and get confirmed)

Also, even if the price drops back to 1000 but we experience 10x more transactions get ready for fees up to 3$ for input

You are false and that got confirmed

Since you yourself mentioned transaction fees in dollar terms, it is as clear as day that the size of transaction fees is in linear dependence over Bitcoin price (provided all other things remain the same). I guess this is what the poster you replied to meant, i.e. transaction fees in fiat terms, just like you said yourself. After all, it was your claim that Bitcoin is there only because of fiat and people are ultimately interested only in fiat, not in Bitcoin. It kinda looks you should stick to your guns, shouldn't you?

What a surprise ... 4 lines on text.
Deisik the four liner.

How about you stick to your English manual cause "stick to your guns" doesn't mean what you think it does.
And if anything it means the exact opposite in this situation.

Or are you really encouraging me?
Go away (please) take a break, 4liners are too much for you

I know perfectly well what the phrase means and when it is used (but you may want to finally find out)

It means that even if you are trying to troll (which is what you are doing here, the Witch will punish you), you should do that wisely. Otherwise, you'll be a ludicrous and despicable troll which doesn't know where his mouth is (think clown here). That means as well that you should remember what you had been saying at least yesterday if not before that, i.e. not to say things which are in direct "opposition" to what you claimed previously. In this case specifically, I remember how you were laying yourself out proving that people don't care about Bitcoin, that all they care for turns around fiat, and things like these. And now you defiantly forget all that you have been preaching for and against yourself. I hope this gets through somehow

Wow stop pushing yourself, you might enrage your sig overlord by writing 6 liners of nothing

Take this 5 line stats

July 2013       btc price  ~90    fee ~ 8 cents
January 2014 btc price   ~800  fee ~ 20 cents
July 2015      btc price   ~250  fee ~ 3 cents  wtf???  the fee is lower than when bitcoin was at 90$?  deisik is wrong again... holy shit...
January 2016  btc price  ~450  fee ~ 8 cents  what???
January 2017  btc price  ~800  fee ~ 40 cents  what again?

Let's see pussycat do you have the balls to reply in  less than 4 lines?
Or will your master send you to the vet?

[arimamib]

day by day transaction of bitcoin take a very long time. And that is very much felt in the present moment. Takes more than 1 hour.

[carlfebz2]

If you are an active type of person which do actively make bitcoin transactions now and then you will surely feel the pain on making some transfers because fees will really hurt up your pocket but if you do make transfer on few times high tx fee wont hurt too much and shouldn't really be bother and saying bitcoin is useless.If you don't like to spend more fee then better not to make transaction at all.

[mackenzied]

maybe people have forgotten what decentralization means! what it really means when you are in full control over your money without needing a fucking bank to tell you what to do with it, to block your money, take whatever they want from you, government put their hands in your pocket, ..

Agreed, and I support bitcoin decentralization, it will solve many issues for bitcoin and create a stable pathway, otherwise people will stop using it.

[douglock]

maybe people have forgotten what decentralization means! what it really means when you are in full control over your money without needing a fucking bank to tell you what to do with it, to block your money, take whatever they want from you, government put their hands in your pocket, ..

Agreed, and I support bitcoin decentralization, it will solve many issues for bitcoin and create a stable pathway, otherwise people will stop using it.

Bitcoin decentralization can not compare to other crypto but Bitcoin is the first leader in the cryptocurrency world. The more we use it the more understand about how the ccrypto work.

[loiterin9]

Just because transaction fees go up, you say bitcoin is useless?
I myself have never thought about transaction fees in every transaction I make, while there is still a wallet that provides no fees in the withdrawal, take advantage of that. I think don't need to bother with transaction fees, and bitcoin very useful.

Useful for what?

[loiterin9]

Let me ask another question.

What makes a currency useful?