Bitcoin is useless or is it?

[bangjoe]

Bitcoin is on the rise and it isn't useless at all, especially for those who are out of work and rely on Bitcoin as a day to day income. Many of us have been priced out or kicked out of the traditional job market and without Bitcoin a lot of us would be lost by the way side.

I am a bit annoyed that my government still has not set the bitcoin so bitcoin is only included in the online market that can not be applied offline, this makes bitcoin useless in the eyes of many real workers. But I see it from the point of view of the virtual investment assets and the increase in trading volume so they will be surprised when the bitcoin price is legal and has a price above the fiat average.

[PhucS]

Bitcoin is on the rise and it isn't useless at all, especially for those who are out of work and rely on Bitcoin as a day to day income. Many of us have been priced out or kicked out of the traditional job market and without Bitcoin a lot of us would be lost by the way side.

Yes, I totally agree with your opinion. I think Bitcoin has many functions and it is also very useful. The use of modern blockchain technology makes it easier and more convenient for people to transaction, trade, saving money. Another thing is that, as you say, Bitcoin has helped people without a job to earn income, although the income is not high but it is very useful to them, making their life better than before. And my life is better thanks to Bitcoin

[lombok]

If that bitcoin is not useful why the price to pay for a coin can be as high as it is now. Indeed for transaction costs are quite expensive but who need it more and more.

[Rishabh riyz]

If that bitcoin is not useful why the price to pay for a coin can be as high as it is now. Indeed for transaction costs are quite expensive but who need it more and more.

The high price is not just a thing that makes bitcoin what it is  , they have numerous advantages that are very profitable to a professional as well as a newbie.
If at all the price's go down we all know that bitcoin did set an example for the world that crypto currency are worth investments and is more than ready to be accepted by every government on the globe .
Bitcoins did cause for the birth of other digital crypto currency like ethereum .  the price's of bitcoin may fluctuate but in long term they always seem to go up if at all the value becomes low many people would buy BTC just because they have trust in BTC that it would gain value by taking its time

[SirLancelot]

If that bitcoin is not useful why the price to pay for a coin can be as high as it is now. Indeed for transaction costs are quite expensive but who need it more and more.

I don’t really see anything that makes bitcoin useless in anyway. Unless, to those that sees it as useless, but not for me. With Bitcoin you can accomplish a lot of things today, including making an easy sending and receiving of payment, a reliable source for making savings and increasing your income and a lot more of other things.

[prudencetoller]

If that bitcoin is not useful why the price to pay for a coin can be as high as it is now. Indeed for transaction costs are quite expensive but who need it more and more.

I do agree with you. The price of bitcoin keeps increasing and that has proved bitcoin is not useless. More people are buying bitcoin because they believe in it. They believe that bitcoin can give you the think which real money can not give them

[killmenow]

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.

Yes, i costs alot of money to transact small money. I have changed my default currency to another altcoin. Hope in future dev can find way to fix that problem

you don't have to worry about that problem because near in future when bitcoin become most famous the transaction fee is also so less that we can afford small transactions by very big profit, so i suggest you to stick with bitcoin

[xaxistech]

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.

Yes, i costs alot of money to transact small money. I have changed my default currency to another altcoin. Hope in future dev can find way to fix that problem

you don't have to worry about that problem because near in future when bitcoin become most famous the transaction fee is also so less that we can afford small transactions by very big profit, so i suggest you to stick with bitcoin

I agree that bitcoin fees are being to much higher at the moment, just a minutes ago i wanted to make a payment of about 0.01 and they charged 0.001 of fees, that is quite high. There are wallets that are charging up to 0.002 per transaction.
That is the only thing that i dont like of bitcoin, also today the blockchain network is so slowly.

[Bigmacduck]

One could also argue that gold is as useless as bitcoin. It is a good electrical conductor and bracelets look good on a lady's naked skin and they love jewlery gifts made from gold. Other than that it is a useless metal.

On the other hand, people use gold as a store of value since thousands of years because it is heavy, shiny, in limited supply and relatively difficult to mine.

Bitcoin is much of the same as gold, and more. But it's not possible to surprise your lady with it and it is not shiny.

[yadi cihuy]

True, bitcoin transactions are now becoming expensive .. as well as the services used are still the same. Now there is no word "easy transaction with cheap fee" is just a lie. All bitcoin fees go up and make people lose their money to make transactions. I think it's cheaper to use bank transactions than bitcoins.

[angaper]

One could also argue that gold is as useless as bitcoin. It is a good electrical conductor and bracelets look good on a lady's naked skin and they love jewlery gifts made from gold. Other than that it is a useless metal.

On the other hand, people use gold as a store of value since thousands of years because it is heavy, shiny, in limited supply and relatively difficult to mine.

Bitcoin is much of the same as gold, and more. But it's not possible to surprise your lady with it and it is not shiny.

It does not seem like a good analogy, since all those applications that use gold as a raw material (and many more, especially in science) are enough arguments to establish that gold is not a useless metal. In terms of practical usefulness in real life, there is no doubt that gold can not be considered as worthless ... which would be difficult to defend in the case of bitcoin and other altcoins, although it is well known that the blockchain has proven to be very useful for a myriad of utilities in the virtual world.

[jb77889]

The value of a Bitcoin depends on the perspective of each individual. Some may view bitcoin is useless while some value bitcoin and maximize its use as far as it can. Personally, bitcoin is not at all useless because in this day and age where technology is really part of our daily lives, and bitcoin, as everyone believes is the future of money, you can do a lot with it and its up to you to make it your advantage among the people who see it as useless.

[mace15]

True, bitcoin transactions are now becoming expensive .. as well as the services used are still the same. Now there is no word "easy transaction with cheap fee" is just a lie. All bitcoin fees go up and make people lose their money to make transactions. I think it's cheaper to use bank transactions than bitcoins.

The bitcoin become expensive the fees become high. This is the most issues when bitcoin become expensive and I hope this will be corrected. I still use bitcoin than bank in bank every transactions is monitor and they always verify your outgoing transactions. Bitcoin is still going strong just the transaction fees hope it would be less.

[MrEthics69]

Bitcoin is not useless it's useful for consumer.
Now days Bitcoin became more and more popular to people and people like to use it.

[Rizky Aditya]

Bitcoin is not useless it's useful for consumer.
Now days Bitcoin became more and more popular to people and people like to use it.

Words like useless, waste etc are not supposed to be called with bitcoins in any sense. Any person with a little common sense and a little search on bitcoins will avoid such rubbish thing. Bitcoins is the most expensive asset now but people are too ignorant or arrogant.

[Theb]

True, bitcoin transactions are now becoming expensive .. as well as the services used are still the same. Now there is no word "easy transaction with cheap fee" is just a lie. All bitcoin fees go up and make people lose their money to make transactions. I think it's cheaper to use bank transactions than bitcoins.

The bitcoin become expensive the fees become high. This is the most issues when bitcoin become expensive and I hope this will be corrected. I still use bitcoin than bank in bank every transactions is monitor and they always verify your outgoing transactions. Bitcoin is still going strong just the transaction fees hope it would be less.

High transactions fees does not equate to Bitcoin being a useless currency, its just that this are simply needed in order for the whole operation to be working. Additionally there are ways to avoid the fees like inter-wallet transfers, what I mean about that is some wallet providers have free transfers if you are exchanging it in the same wallet e.g. Coinbase to Coinbase and the transfer is fast. Don't judge Bitcoin just because of its fees it has other useful function such as being an investment for us.

[w33man]

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 think this is one of the problem bitcoin is facing. Bitcoin transaction fee is too high, it's not like the way it is before. I think the charges didn't change, that's why a lot of people are complaining about it being expensive, it's because of bitcoin price is increasing. Before, people would even just ingore 100k satoshi transaction fee because it was cheap, but now 100k satoshi would hurt a lot, because it costs more more than a dollar.

[Akash1243]

Of course bitcoins aren't useless you think so because transactions fees are bit high now but you won't look at the fact that how much does bitcoins value have risen past this year from $900 to sky rocketing $4800 so of course transactions fees would have increased.Though that it is around $5 i think it is worth the price of bitcoin.Its high for micro Transactions but many people use it for big transactions where thus $5 are negligible.Bitcoins are still great for long term investment and even many countries have start recognising it's potential as bitcoin has been legalised in many countries.

[Jewell]

Bitcoin is not useless it's useful for consumer.
Now days Bitcoin became more and more popular to people and people like to use it.

Yes it is true that bitcoin is getting more and more popularity day by day. So this statement is useless not really the bitcoin is. Everyone will see in the near future that there will be only one currency prevail throughout the world and that will be the crypto digital currency. It will be used by everyone to buy anything required by them throughout the whole world and they will pay from their bitcoin wallet easily.

[skyline247]

If Bitcoin was useless it would be worth $0. Anything that is useless is also worthless. Therefore given the price of Bitcoin is $4,500 and growing it means Bitcoin is very useful.