Bitcoin is useless or is it?

[HaXX0R1337]

The transition fee is a big issue and it is not advisable to make small transactions and daily payments otherwise you will be losing a lot to transaction fee. To my best of knowledge this fees are what miners feed on. And it is needed to sustain mining.

There is a mining reward for the miners and with the scaling issue and the number of transactions increased the fees also increased and miners are having a good time to choose which transactions to get through as they choose only high transaction fees as priority and yes they are enjoying their perks.

[passwordnow]

The transition fee is a big issue and it is not advisable to make small transactions and daily payments otherwise you will be losing a lot to transaction fee. To my best of knowledge this fees are what miners feed on. And it is needed to sustain mining.

Small transactions will only eat your balance payment and it's not worth to do so. I have some micro earnings and I don't decide for it now as I know it will only goes to the miners fee. The fees today are considered high but it's because of the demand and if waiting is not an issue to you, just set it to minimum fee.

[carlerha]

The high transaction fees is now trending in everywhere and many complain threads are born in these weeks. No doubt, it really make bitcoin useless but not at all. It's just affecting​ to small (micro)transactions, and for the big one it is no problem.

yes that is right that it  is only effecting the small transaction. but I think if we want people to use bitcoin for shopping even for small item, both online and in offline shops then the transaction fee must be lower enough, because the high transaction fee is really effecting the image of bitcoin, and people will not go to use bitcoin for small investment. which is too much important for the future of bitcoin.

[CyberKuro]

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.

For remittance purpose, bitcoin may not suitable with high fees should be paid especially for big amount that sent. But, for store of value, bitcoin still one of the best option. There are a lot to speculate about bitcoin, from the beginning until how bitcoin could rise because many adopters join to the bitcoin community. What kind of bitcoin experiment that you mean?

[Superzpay]

yes, bitcoin is useless right now because of huge fees

I agree but if you can use ViaBTC accelarator properly then even old low fees transaction are getting confirmed and i have done this recently and got confirmed in 2 hrs. So it is that you have to put your efforts little more for this benefit.

I have tried ViaBTC for two times for my two transactions but at that time I face the problem that the request limit is high and try again for next time. I think there is also a burden on that service and so the developers have to search for another solution.

[Victorycoin]

Yes, I agree with you. Bitcoin is becoming useless as a payment system.

That is from the form of payment perspective, but how about its attribute as a store of value? Bitcoin as at today is fast closing in on $3000, which is quite impressive and can be some palliative to cushion the trouble of having to pay high transaction fees. So Bitcoin cannot be said to be useless as many more people are being made rich these days by reason of Bitcoin unprecedented performance.

[Inkdatar]

This is I notice a high fees every transactions but still the question is sometimes the transaction is too long to confirm. Despite of this bitcoin is still being used by every users and others still got earnings with bitcoin.

[sasaku bitbit]

Bitcoin is not useless at all and it makes sense in every way you look at it. Before anyone starts grumbling over bitcoin,  I think taking time out to consider the so many solutions bitcoin have brought compared to what we have with payment systems like Paypal, we can now begin to appreciate bitcoin the more.

I think taking the time out to consider this solution so much bitcoin has brought compared to what we have with the payment system such as Paypal, we can now begin to increasingly appreciate the bitcoin. due payment system follows the price of bitcoin

[Hutalar]

This is I notice a high fees every transactions but still the question is sometimes the transaction is too long to confirm. Despite of this bitcoin is still being used by every users and others still got earnings with bitcoin.

The transactions take too much time but still people are using it and the reason is that the benefits of bitcoin are more than any other payment system or any other currency. Currently some developers are trying to solve the issue through some services like viaBTC and in the future more convenience will come.

[Kizaki]

This changes happens for a good reason i think,there are many people complaining about the rise in the fees but many are in with it,fees makes alot of sense on bitcoins transactions,it helps transaction to get confirm faster than other transactiom behind it

[darklus123]

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.

I doont think so. You issed the part in which because of the current btc raise people have also gain more profit and opportunity. Tho I would say that some of us small time earners were really butt hurt about this current crisis

[asdalani]

I think high transaction fees are not a reason to call bitcoin is useless. Transaction fees from the past until now are the same, nothing has changed. Indeed increases if we measure with the dollar but if we measure with bitcoin will remain the same. Bitcoin gives us a lot of benefits and uses, even many who become rich with bitcoin

Yeah, having a high transaction fee with Bitcoin does not make Bitcoin useless because the people that use Bitcoin may already know that if they really want something and they can’t wait for it then they would pay a high transaction fee for it. If a person wanted an item and they didn’t care for the wait then they could just put a low transaction fee and have the transaction confirmed in a couple of days.

[daringdiscovered]

The transition fee is a big issue and it is not advisable to make small transactions and daily payments otherwise you will be losing a lot to transaction fee. To my best of knowledge this fees are what miners feed on. And it is needed to sustain mining.

I don't think so, because the transaction fee is not a big deal if you are earning enough bitcoins, but if your excuse will be "But I'm only earning bitcoin through FAUCETS" then it is your problem, just simple quit faucet and start to do other way where you could earn bitcoin so the transaction fee won't be a big deal to you anymore, for example is doing Signature Campaign on this forum.

Or you could do also Trading or Investing it on some investment site, though it is still depends on which way are you good at, because it would be better if the thing that you are going to do is the one that you wanted or you are good at, since you are going to do it on the long run.

[richsoon]

The transition fee is a big issue and it is not advisable to make small transactions and daily payments otherwise you will be losing a lot to transaction fee. To my best of knowledge this fees are what miners feed on. And it is needed to sustain mining.

Miners would earn ten times more with 1/10 the fee and 100x more transactions but this is only possible with a real scaling solution. What is going to happen as more and more transactions get priced out due to ever increasing fees is that people will eventually realize that bitcoin is useless and everyone will scramble to sell out causing another big crash.

We need a scaling solution now and before its too late.

[qwertyup23]

In my opinion, bitcoin is not useless AT THE MOMENT since you can always convert it into cash. The real problem lies only on earning it. Bitcoin also has the potential to replace cash in the future. It is not useless for as long as it has monetary value in conversion.

[canvan]

In my opinion, bitcoin is not useless AT THE MOMENT since you can always convert it into cash. The real problem lies only on earning it. Bitcoin also has the potential to replace cash in the future. It is not useless for as long as it has monetary value in conversion.

As an asset its obviously not useless when you can still convert it, but I guess as a currency it is.

[bicork]

Gold is gold not not for it's usage. It's value in other things. The same with bitcoin.

[arcanayou]

Useless? are you kidding. Bitcoin is very valuable and very useful. If you think it is useless you can give me your bitcoin. Hehe ,, bitcoin very useful, for transactions between countries and banks to be sent quickly and easily, indeed the transaction fee is now too big, but that's not the point. The most important thing is how to use bitcoin

[Lecam]

For some people who dont really know the real purpose of bitcoin,i mean the people who dont know yet about bitcoin, its useless, they think it was illegel or so on, but for us, it is useful, some people are making it as a source of income, like me. I used this to support my financial needs, so i was able to support myself in studies and this was my source of income as of now and im using this oppurtunity to save much money for my future.

[HashieNewb]

This is I notice a high fees every transactions but still the question is sometimes the transaction is too long to confirm. Despite of this bitcoin is still being used by every users and others still got earnings with bitcoin.

The high transaction fee is fine for now from my view because if the person wants the money without waiting a few days then he or she could get the money within the hour. I think that the amount for the high speed transaction is around $1 or so depending on how much is being sent over.