Bitcoin is useless or is it?

[Drnice]

The fees for transactions is so high that if you make a low transaction, it will be as even equal to the amount that is to be transacted, I have faced such in coinbase more often.

Those fee depend on lots of things specially size of your bitcoin transaction rather than the amount you are transacting. However It is true that bitcoin is not suitable right now for micro transactions but I am quite sure that bitcoin will be cheapest and fastest way to move our money again after activation of segwit on this august.

I wish that we get a positive result from this upcoming segwit event.

[~Bitcoin~]

I wish that we get a positive result from this upcoming segwit event.

I am quite confident that segwit will bring positive result because it is the only viable solution right now to solve all block size related debates we have for years.

[doomloop]

Bitcoin is indeed very convenient to use on the Internet, but for me the main thing not it. The main thing for me is freedom of choice. The man himself can decide in what country to make money and how to manage them. Everybody needs freedom, and hence bitcoin is needed.

Bitcoin is growing fast now and can be used outside the internet circles which makes it useful than ever before. Bitcoin fees are still cheaper as compared to other well known  remittance services which makes it the preferred mode of payment by many today.

I do agree with you mate, bitcoin is still growing even with its current state. Bitcoin now is more convenient to use than other remittance services like you just said and the other reason for that is the time utility, and every utility which business has to offer, its easy to use, its convenient, and its less hassle for those who doesn't have a time to go elsewhere.

well you are right that bitcoin is increasing its price every day instead of decreasing it has become more easy and more convenient with the development and improving of the using procedure  of the bitcoin so it is now more easy to use than before.

[magmar]

indeed. The low transaction fee's are a lie now. better to buy your pizza with real money or pay more with BTC.

Can anyone tell me for whom those fee's are, and why they are rising?

Yes that's a wonderful question, I'm also getting curious about that fee. On the first time it was just okay but as time goes by the fees are getting high. I wonder where that fees goes, the last time I checked, bitcoins are decentralized. Where does that goes? Can you tell me where?

[gribble]

How can something worth too much be useless?
I can't really understand it just because of the transaction fee being high that doesn't really mean that it is useless.

You are right, bitcoins is just not good for transaction of small payment because of the fees sending
but bitcoins is still good to be considered as digital asset or digital gold,
bitcoins is still useful, it is just not good for be currency especially for small amount of transaction
let's wait until the activation segwit2x on bitcoin's network sounds can fix this problem.

[An1ks]

People were thinking that bitcoin is useless 4 years ago.
Look at them now

[ActiveP]

With transaction costs rising above $1 the original promise of cheap remittance using Bitcoin is officially dead. Without utility Bitcoin use is limited to speculation only and even further what is there to speculate about?

I would like to debate this and gauge the community's response to Bitcoin experiment.

This post has to be the stupidest  I've come across on this forum. even with the increased fees, bitcoins is still cheaper than most money transfer instruments. For tiny amount, it may not be ideal if compared to paypal or skrill, both those are centralized and can decide to keep your money with no recourse to you. I expect the fee issue to resolved at some point.

[BitBite5]

How could bitcoin be useless? As long as is the strongest cryptocurrency with highest value, as long as you can trade it or buy and sell stuff for it it will not be useless. So I don't think bitcoin is just experiment, it's much more.

[GoodLuck2]

People were thinking that bitcoin is useless 4 years ago.
Look at them now

umm you are very much right here that bitcoin is a kind of currency in which people invest happily and confidently and with each investment the price of bitcoin increases so! Bitcoin can never get down infect bitcoin is being more and more safe and secure so the future of bitcoin is very high and  it will never get down.

[Gameroid]

indeed. The low transaction fee's are a lie now. better to buy your pizza with real money or pay more with BTC.

Can anyone tell me for whom those fee's are, and why they are rising?

Yes that's a wonderful question, I'm also getting curious about that fee. On the first time it was just okay but as time goes by the fees are getting high. I wonder where that fees goes, the last time I checked, bitcoins are decentralized. Where does that goes? Can you tell me where?

although still people are giving priority to bitcoin but for most of the time they use it for big transaction, while while for small translation people try to avoid because of the high transaction fee. i think this problem should be solve so that we can becoming able to purchase small items through online shopping for example it is really cost too much to topup our mobile, some time the transaction fee is more than the recharge amount.

[bs.glory]

"Digital money such as BTC will only match the attributes of physical cash if there are major advances in the ease, cost and certainty with which digital transactions are handled. In particular there will need to be considerable progress in the following areas: verification, confidentiality, ease of use, interoperability and reliability – throughout the entire transaction chain."

Obviously, BTC is not useless. Everything has a purpose. That is an excerpt from my all time favorite PDF for moneys

[xbiv2]

1. International money transfer,
2. for keep money,
3. gambling,
4. pay for internet service,
5. pay to freelancers it foreign countries

[oktana]

indeed. The low transaction fee's are a lie now. better to buy your pizza with real money or pay more with BTC.

Can anyone tell me for whom those fee's are, and why they are rising?

Yes that's a wonderful question, I'm also getting curious about that fee. On the first time it was just okay but as time goes by the fees are getting high. I wonder where that fees goes, the last time I checked, bitcoins are decentralized. Where does that goes? Can you tell me where?

Decentralization includes many parties, which we need to know is the need for exchange services and many miners to help us transact, this doesn't change the decentralization element, high fee depends on the price level and mempoll depth.

[HaXX0R1337]

People were thinking that bitcoin is useless 4 years ago.
Look at them now

I am sure no one in the right sense would think that bitcoin was useless in 2013 if that is what you are telling,if you are getting a valuation for a product how can that be useless and how would anyone think like that,so everyone who understand the technology and understand the impact it can make will understand the true value of bitcoin.

[killgald]

People were thinking that bitcoin is useless 4 years ago.
Look at them now

I am sure no one in the right sense would think that bitcoin was useless in 2013 if that is what you are telling,if you are getting a valuation for a product how can that be useless and how would anyone think like that,so everyone who understand the technology and understand the impact it can make will understand the true value of bitcoin.

Chick the last 3 years of evolution of bitcoin in the cryptocurrenci, his value go to the sky in relationship of 4 years ago and maybe it will continued to incrised his value.

[Ferris419]

Bitcoin is a money and money can never be useless and if you think that its useless then even fiat is useless but I don't think that any user of bitcoin will consider it as a useless as its helping all of us in best ways and also taking care of our expenses.

[hyunee]

Bitcoin is not that really popular in our country. But we can exchange bitcoin in Philippine peso. It is not useless as you can use it, I believe such sites can accept bitcoins as their payment for their access. Bitcoin is versatile  when it comes to its usage.

[clearcrystal]

Bitcoin is very useful for the new generation customers to reduce their presence while doing transactions as people are eligible to do digital money exchange between two Bitcoin wallets. At first, I didn't believe and don't care about Bitcoin technology. After some days, I heard that my friend was invested and earn money. Then, research about that and invested. I will use my bitcoins for transactions purpose only. If the value is more, then I will sell or use for my new business.

[chineseprancing]

Bitcoin is not useless, because using bitcoin more unemployed people were got job using bitcoin. Moreover bitcoin help all level of people in different countries to have an income.

[Forhadm]

Yes bitcoin is unless if you do not work at right position or if you do not maintain their link rule & regulation .then we think its unless.