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Author Topic: How can we suggest bitcoin to people after this?  (Read 1308 times)
shield132 (OP)
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June 09, 2017, 04:21:28 PM
 #1

We all know how wonderful was bitcoin at first, fast mining and fast confirmations. But now will new people in crypto start using bitcoin? Fees are so high, very bad, it's only for 2000$ and higher transactions because of it's high fees. It's useless for normal transactions because why the hell will I use bitcoin if I want to pay something, for example paying 10$ for mobile network when I have to pay additional bitcoins fee which is nearly 2$? Is there any logic? If I want to start bitcoin business, how can I tell people that it's good? If I say so, than this will be 100% lie. Bitcoin don't gives us opportunity to spread it worldwide because it sucks now. It's now good for rich people and darknet users, not for someone who wants to use it as an alternative of real money.

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June 09, 2017, 04:31:36 PM
 #2

We all know how wonderful was bitcoin at first, fast mining and fast confirmations. But now will new people in crypto start using bitcoin? Fees are so high, very bad, it's only for 2000$ and higher transactions because of it's high fees. It's useless for normal transactions because why the hell will I use bitcoin if I want to pay something, for example paying 10$ for mobile network when I have to pay additional bitcoins fee which is nearly 2$? Is there any logic? If I want to start bitcoin business, how can I tell people that it's good? If I say so, than this will be 100% lie. Bitcoin don't gives us opportunity to spread it worldwide because it sucks now. It's now good for rich people and darknet users, not for someone who wants to use it as an alternative of real money.

Yeah, its hard time for bitcoin ecosystem and high fees are taking 'dream of BTC utopia' away.
But yeah there is still possibility to induce people towards bitcoins and that is through its 'volatility' obviously.
If we tell people that if they receive payments in btc, there money will increase overtime, isn't that fantastic. This would kill fees pain to some extent.
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June 09, 2017, 05:13:10 PM
 #3

We all know how wonderful was bitcoin at first, fast mining and fast confirmations. But now will new people in crypto start using bitcoin? Fees are so high, very bad, it's only for 2000$ and higher transactions because of it's high fees. It's useless for normal transactions because why the hell will I use bitcoin if I want to pay something, for example paying 10$ for mobile network when I have to pay additional bitcoins fee which is nearly 2$? Is there any logic? If I want to start bitcoin business, how can I tell people that it's good? If I say so, than this will be 100% lie. Bitcoin don't gives us opportunity to spread it worldwide because it sucks now. It's now good for rich people and darknet users, not for someone who wants to use it as an alternative of real money.
If we tell people that if they receive payments in btc, there money will increase overtime, isn't that fantastic. This would kill fees pain to some extent.
That's an absolutely terrible idea.  You risk losing family and friends for giving them investment advice without even using tentative terms.

If people's only aim when receiving Bitcoin is for the price to increase, then there are no fundamentals and that situation sure as hell couldn't last forever.

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June 09, 2017, 05:18:23 PM
 #4

We all know how wonderful was bitcoin at first, fast mining and fast confirmations. But now will new people in crypto start using bitcoin? Fees are so high, very bad, it's only for 2000$ and higher transactions because of it's high fees. It's useless for normal transactions because why the hell will I use bitcoin if I want to pay something, for example paying 10$ for mobile network when I have to pay additional bitcoins fee which is nearly 2$? Is there any logic? If I want to start bitcoin business, how can I tell people that it's good? If I say so, than this will be 100% lie. Bitcoin don't gives us opportunity to spread it worldwide because it sucks now. It's now good for rich people and darknet users, not for someone who wants to use it as an alternative of real money.
If we tell people that if they receive payments in btc, there money will increase overtime, isn't that fantastic. This would kill fees pain to some extent.
That's an absolutely terrible idea.  You risk losing family and friends for giving them investment advice without even using tentative terms.

If people's only aim when receiving Bitcoin is for the price to increase, then there are no fundamentals and that situation sure as hell couldn't last forever.

I think its better to tell them that bitcoin is good as investment currently rather than using it for small transaction across the web. Its really hard to buy online using bitcoin because of its high transaction fee. So it is much better to tell your friends and families to used it a investment for now and once the issue has been settled, they can used bitcoin to transfer money as remittances or buy things online using bitcoin as payment method.
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June 09, 2017, 05:24:06 PM
 #5

We all know how wonderful was bitcoin at first, fast mining and fast confirmations. But now will new people in crypto start using bitcoin? Fees are so high, very bad, it's only for 2000$ and higher transactions because of it's high fees. It's useless for normal transactions because why the hell will I use bitcoin if I want to pay something, for example paying 10$ for mobile network when I have to pay additional bitcoins fee which is nearly 2$? Is there any logic? If I want to start bitcoin business, how can I tell people that it's good? If I say so, than this will be 100% lie. Bitcoin don't gives us opportunity to spread it worldwide because it sucks now. It's now good for rich people and darknet users, not for someone who wants to use it as an alternative of real money.

i think what we can suggest for people to buy bitcoin is how much they want to bitcoin with their money. for example, if they only have $100, then we are trying to convert $100 that will equal with bitcoin. and then, they can save it into their wallet, while they can wait or used for start trading. i think if that people want to pay $100, then i think he don't have to think about the fee which is only small fee that he can pay. what i want to show here is if someone wants to used bitcoin, then he should know how much the fee that he should pay and will agree with the fee if he wants to get fast confirmed. if he don't want this, then he don't need to use bitcoin to pay something.

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June 09, 2017, 05:27:54 PM
 #6

That's an absolutely terrible idea.  You risk losing family and friends for giving them investment advice without even using tentative terms.

If people's only aim when receiving Bitcoin is for the price to increase, then there are no fundamentals and that situation sure as hell couldn't last forever.
Since we can no longer recommend people to use Bitcoin for the purpose of avoiding fees and delays in transactions, this is one of the few advantages that a regular person can benefit from using Bitcoin. So I do not see a problem with that. Obviously it is not entirely correct to recommend receiving all your money in Bitcoin, but investing as much as 30% of your monthly income does not seem to be such a bad idea.

Or what else would you say about Bitcoin to someone like your mother to make her want to buy Bitcoin? Why should she care about having a decentralized money that isn't accepted in the market she goes to buy cleaning products for her house?

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June 09, 2017, 05:36:36 PM
 #7

That's an absolutely terrible idea.  You risk losing family and friends for giving them investment advice without even using tentative terms.

If people's only aim when receiving Bitcoin is for the price to increase, then there are no fundamentals and that situation sure as hell couldn't last forever.
Since we can no longer recommend people to use Bitcoin for the purpose of avoiding fees and delays in transactions, this is one of the few advantages that a regular person can benefit from using Bitcoin.
That is not an advantage of using Bitcoin.  That's just from the fact that more and more people are getting involved.  If those people's only reason for getting involved is that the price will go higher, then as soon as it reaches a point where no more people are getting involved, people will start selling because of the low "returns" that they're getting on their digital cash.

At that point it's no longer any kind of currency, just the ultimate speculation for traders/gamblers.
Quote from: TryNinja
So I do not see a problem with that. Obviously it is not entirely correct to recommend receiving all your money in Bitcoin, but investing as much as 30% of your monthly income does not seem to be such a bad idea.
Nothing to do with how much you can invest into it.  It's about why you're doing it and whether you're actually intending to spend.  It's also about being tentative when referring to the price, because past returns do not indicate future gains.  With that as the only indicator the people you're talking to will piss you off if it doesn't happen.
Quote from: TryNinja
Or what else would you say about Bitcoin to someone like your mother to make her want to buy Bitcoin? Why should she care about having a decentralized money that isn't accepted in the market she goes to buy cleaning products for her house?
That's a pretty annoying generalisation about mothers.  You either talk about decentralisation, you talk about why fees are high and how this can change, or you (unfortunately) direct her to an alt.  This is how you would talk to anyone.

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June 09, 2017, 05:49:38 PM
 #8

That is not an advantage of using Bitcoin.
IMO it is right now for people to look at Bitcoin and actually have at least a reason to buy the coin. As I said at the bottom of this post, there is a huge porcentage of people who simply doesn't care about Bitcoin technology.

With that as the only indicator the people you're talking to will piss you off if it doesn't happen.

That's why I say that Bitcoin is a investment. Not a guaranteed way to profit. You can tell your friends to invest in any company you believe the stock prices will rise, doesn't mean you are 100% correct and doesn't mean you can't recommend them any kind of investment.

That's a pretty annoying generalisation about mothers.
ROFL. That actually made me laught. Not sure if you are joking or you simply did not understood the message I wanted to pass. I'm talking about the regular people who are not tech-savvy and simply don't care about Bitcoin's core concept. Yes, this kind of people exist, and they live with us in the same world. I have friends who think like that, and even my brother doesn't care at all about Bitcoin when I talk to him about this new technology. Just remember that to Bitcoin become mainstream, people need to WANT to accept Bitcoin as a method of payment in their stores.

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iluvpie60
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June 09, 2017, 05:57:37 PM
 #9

We all know how wonderful was bitcoin at first, fast mining and fast confirmations. But now will new people in crypto start using bitcoin? Fees are so high, very bad, it's only for 2000$ and higher transactions because of it's high fees. It's useless for normal transactions because why the hell will I use bitcoin if I want to pay something, for example paying 10$ for mobile network when I have to pay additional bitcoins fee which is nearly 2$? Is there any logic? If I want to start bitcoin business, how can I tell people that it's good? If I say so, than this will be 100% lie. Bitcoin don't gives us opportunity to spread it worldwide because it sucks now. It's now good for rich people and darknet users, not for someone who wants to use it as an alternative of real money.

It still is wonderfull though. Wait until the USD price crashes more and our debt continues to go up and the stock market goes down by a lot.

Having some BTC will be a good thing when that all happens.

Transaction fees can be lowered many ways. Segwit. Increase blocksize. OR take the blockreward in half and have 5 min block time instead of 10.

More people are likely able to get their transaction into a 5 minute block than a 10 min block because of it takes a little bit more of a first in first out apporach(which i never seen discussed here).

No reason for it to be 10 minute confirmations. Also other places dont need to require 3 confirmations. We really just need 1.
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June 09, 2017, 06:29:46 PM
 #10

We all know how wonderful was bitcoin at first, fast mining and fast confirmations. But now will new people in crypto start using bitcoin? Fees are so high, very bad, it's only for 2000$ and higher transactions because of it's high fees. It's useless for normal transactions because why the hell will I use bitcoin if I want to pay something, for example paying 10$ for mobile network when I have to pay additional bitcoins fee which is nearly 2$? Is there any logic? If I want to start bitcoin business, how can I tell people that it's good? If I say so, than this will be 100% lie. Bitcoin don't gives us opportunity to spread it worldwide because it sucks now. It's now good for rich people and darknet users, not for someone who wants to use it as an alternative of real money.

You still can advice Bitcoin as a currency, but the number of cases when it's better than fiat is fairly limited. First, it's big transactions. Bitcoin's fees are determined by the number of input/output addresses and not the amount of transacted funds, so moving $20 000 worth of BTC with $20 fee is a 0.1% fee. Second - overseas transactions. Usually they are very expensive and receivers in some countries may lose 5-30% of the sum after bank fees, currency exchanges, etc. Bitcoin fixes that.

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June 09, 2017, 06:35:51 PM
 #11

We all know how wonderful was bitcoin at first, fast mining and fast confirmations. But now will new people in crypto start using bitcoin? Fees are so high, very bad, it's only for 2000$ and higher transactions because of it's high fees. It's useless for normal transactions because why the hell will I use bitcoin if I want to pay something, for example paying 10$ for mobile network when I have to pay additional bitcoins fee which is nearly 2$? Is there any logic? If I want to start bitcoin business, how can I tell people that it's good? If I say so, than this will be 100% lie. Bitcoin don't gives us opportunity to spread it worldwide because it sucks now. It's now good for rich people and darknet users, not for someone who wants to use it as an alternative of real money.
If we tell people that if they receive payments in btc, there money will increase overtime, isn't that fantastic. This would kill fees pain to some extent.
That's an absolutely terrible idea.  You risk losing family and friends for giving them investment advice without even using tentative terms.

If people's only aim when receiving Bitcoin is for the price to increase, then there are no fundamentals and that situation sure as hell couldn't last forever.

I think its better to tell them that bitcoin is good as investment currently rather than using it for small transaction across the web. Its really hard to buy online using bitcoin because of its high transaction fee. So it is much better to tell your friends and families to used it a investment for now and once the issue has been settled, they can used bitcoin to transfer money as remittances or buy things online using bitcoin as payment method.

I think bitcoin is still good for making high payments. The transaction fee is only burden for those who have to send low multiple payments and with each payment a dollar extra as fee make it a real pain.
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June 09, 2017, 06:42:12 PM
 #12

The only probelm here is having high fees for transactions that do not to be fast, i mean normal peopel who are not in a hurry should not use high fees to send thier transactions because they can wait a few hours, however for those who are in bussnies like trading or investing where every second matter that is where the probelm lies.
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June 09, 2017, 06:42:37 PM
 #13

Expensive fees for transactions shouldn't last forever... At some point things should go back to the good times, when the fees weren't high and it was very worthful for all parts and not only for miners like now. If you aren't confortable to introduce people to Crypto-Currency now because this situation you can wait until things start improving or you can give people hope that this won't last forever as I said...

 
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June 09, 2017, 06:44:04 PM
 #14

Hard times for BTC. I don't like the idea of digital gold / big investment, I more likely want BTC to be used for anything from small micropayments to huge ones. Let's buy coffee with BTC again!

1 BTC = 1 BTC
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June 09, 2017, 09:41:42 PM
 #15

We all know how wonderful was bitcoin at first, fast mining and fast confirmations. But now will new people in crypto start using bitcoin? Fees are so high, very bad, it's only for 2000$ and higher transactions because of it's high fees. It's useless for normal transactions because why the hell will I use bitcoin if I want to pay something, for example paying 10$ for mobile network when I have to pay additional bitcoins fee which is nearly 2$? Is there any logic? If I want to start bitcoin business, how can I tell people that it's good? If I say so, than this will be 100% lie. Bitcoin don't gives us opportunity to spread it worldwide because it sucks now. It's now good for rich people and darknet users, not for someone who wants to use it as an alternative of real money.

I think bitcoin wont use for send and receive money, first time i used bitcoin is because of bitcoin fast and cheap transfer fee, but now it seems bitcoin not suitable for send money. It's more suitable for earn mony
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June 09, 2017, 09:50:36 PM
 #16

We all know how wonderful was bitcoin at first, fast mining and fast confirmations. But now will new people in crypto start using bitcoin? Fees are so high, very bad, it's only for 2000$ and higher transactions because of it's high fees. It's useless for normal transactions because why the hell will I use bitcoin if I want to pay something, for example paying 10$ for mobile network when I have to pay additional bitcoins fee which is nearly 2$? Is there any logic? If I want to start bitcoin business, how can I tell people that it's good? If I say so, than this will be 100% lie. Bitcoin don't gives us opportunity to spread it worldwide because it sucks now. It's now good for rich people and darknet users, not for someone who wants to use it as an alternative of real money.
I personally believe Bitcoin is now dramatically swinging to the "investment" side of the "currency v. storage" debate since there has been zero realized progress by the mining community to get the blocks bigger and get fees smaller for the average person. The queues are starting to become insane and it's borderline not worth moving any Bitcoin anymore; just keeping it in exchanges seems to do the trick.
Darknet has already started using Monero and other alts since they're more anonymous.
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June 09, 2017, 09:56:36 PM
 #17

We all know how wonderful was bitcoin at first, fast mining and fast confirmations. But now will new people in crypto start using bitcoin? Fees are so high, very bad, it's only for 2000$ and higher transactions because of it's high fees. It's useless for normal transactions because why the hell will I use bitcoin if I want to pay something, for example paying 10$ for mobile network when I have to pay additional bitcoins fee which is nearly 2$? Is there any logic? If I want to start bitcoin business, how can I tell people that it's good? If I say so, than this will be 100% lie. Bitcoin don't gives us opportunity to spread it worldwide because it sucks now. It's now good for rich people and darknet users, not for someone who wants to use it as an alternative of real money.

For low value transaction it really doesn't worth, much cheaper are the other cryptocurrencies like ethereum or doge which charge almost nothing compared to bitcoin which is very expensive now. If we transfer a high amount of money $100, 1000+ then I think that it worth but it's not like before, now people will think twice before making any transfer.
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June 09, 2017, 10:00:33 PM
 #18

We all know how wonderful was bitcoin at first, fast mining and fast confirmations. But now will new people in crypto start using bitcoin? Fees are so high, very bad, it's only for 2000$ and higher transactions because of it's high fees. It's useless for normal transactions because why the hell will I use bitcoin if I want to pay something, for example paying 10$ for mobile network when I have to pay additional bitcoins fee which is nearly 2$? Is there any logic? If I want to start bitcoin business, how can I tell people that it's good? If I say so, than this will be 100% lie. Bitcoin don't gives us opportunity to spread it worldwide because it sucks now. It's now good for rich people and darknet users, not for someone who wants to use it as an alternative of real money.

For low value transaction it really doesn't worth, much cheaper are the other cryptocurrencies like ethereum or doge which charge almost nothing compared to bitcoin which is very expensive now. If we transfer a high amount of money $100, 1000+
In this matter, more precise amendments are needed, otherwise people will really not want to use Bitcoin, because of expensive transactions and therefore one must look for a way out in this situation. Because we will lose the popularity of Bitcoin in the future.

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June 09, 2017, 10:04:20 PM
 #19

We all know how wonderful was bitcoin at first, fast mining and fast confirmations. But now will new people in crypto start using bitcoin? Fees are so high, very bad, it's only for 2000$ and higher transactions because of it's high fees. It's useless for normal transactions because why the hell will I use bitcoin if I want to pay something, for example paying 10$ for mobile network when I have to pay additional bitcoins fee which is nearly 2$? Is there any logic? If I want to start bitcoin business, how can I tell people that it's good? If I say so, than this will be 100% lie. Bitcoin don't gives us opportunity to spread it worldwide because it sucks now. It's now good for rich people and darknet users, not for someone who wants to use it as an alternative of real money.

For low value transaction it really doesn't worth, much cheaper are the other cryptocurrencies like ethereum or doge which charge almost nothing compared to bitcoin which is very expensive now. If we transfer a high amount of money $100, 1000+ then I think that it worth but it's not like before, now people will think twice before making any transfer.
In this matter, more precise amendments are needed, otherwise people will really not want to use Bitcoin, because of expensive transactions and therefore one must look for a way out in this situation. Because we will lose the popularity of Bitcoin in the future.

We see that even though the transaction fees are much higher than before the number of transaction is still high, the number of unconfirmed transaction is also high enough, this because of the bitcoin popularity. But if this will not get lowered/fixed then we will see a slightly decrease of bitcoin popularity or slightly a lower number of bitcoin transaction within 24 hours.
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June 09, 2017, 11:39:00 PM
 #20

Bitcoin slow transaction and high fees has become a classic problem and some of the solution hasn't solve this problem yet, eventhough for now it is not really effective to be used as currency but it is still a good investment and it can be used as trading currency
the problem of fee and speed need to be solved immediately, if obstacles still around,it will be difficult for bitcoin to be used as currency


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June 09, 2017, 11:57:12 PM
 #21

This is one of the most important current problems of bitcoin. Recently I don't even try to introduce people into bitcoin, because there are not many bitcoin benefits against traditional banking systems and electronical cash. For example, bank transfers are cheaper and in mostly cases faster. Now I think lot of new people investing into bitcoin just to hold it and wait for price increase, but not to use as money. I agree to mind above that now bitcoin swinging from currency to a form of investment.

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June 10, 2017, 12:24:07 AM
 #22

snip
Bitcoin and the underlying technology behind bitcoin is still wonderful,i think satoshi did not develop this thinking it will be mass adapted so soon and he might have thought that he could upgrade the network if there is a need,but some things have pushed the real creator into oblivion and we still debate which is the best upgrade to change the situation.When everyone comes to a general consensus then we will have a network upgrade and the issues will be solved until we reach another rush of new users into bitcoin.
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June 10, 2017, 12:34:21 AM
 #23

High miner fee is killing me. How can i transfer a few bucks when the fee is higher than the fee that i would like to transfer? I guess it's time to find alternative way to send my funds with fast and cheaper at the same time. Maybe litecoin or something faster. Using bitcoin is getting harder and harder these days. They should make a step for this. This couldn't attract many people except to those rich and willing to buy and use it.
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June 10, 2017, 01:15:32 AM
 #24

We all know how wonderful was bitcoin at first, fast mining and fast confirmations. But now will new people in crypto start using bitcoin? Fees are so high, very bad, it's only for 2000$ and higher transactions because of it's high fees. It's useless for normal transactions because why the hell will I use bitcoin if I want to pay something, for example paying 10$ for mobile network when I have to pay additional bitcoins fee which is nearly 2$? Is there any logic? If I want to start bitcoin business, how can I tell people that it's good? If I say so, than this will be 100% lie. Bitcoin don't gives us opportunity to spread it worldwide because it sucks now. It's now good for rich people and darknet users, not for someone who wants to use it as an alternative of real money.

Agreed. Although it is hard now to introduce the idea of bitcoin to others since transaction fees are so high you can't really say "you can send money anywhere to anyone for virtually 0 fee" because that would be the biggest lie of the century, there are still uses for bitcoin.

-Sending money overseas is still cheaper with bitcoin than with bank transfers even with this high of a fee
-Buying stuff from sites without giving them your credit card details.
-Store of wealth for the long term.
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June 10, 2017, 01:23:03 AM
 #25

Well, I can successfully suggest bitcoin to my trading friends

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June 10, 2017, 01:29:06 AM
 #26

We all know how wonderful was bitcoin at first, fast mining and fast confirmations. But now will new people in crypto start using bitcoin? Fees are so high, very bad, it's only for 2000$ and higher transactions because of it's high fees. It's useless for normal transactions because why the hell will I use bitcoin if I want to pay something, for example paying 10$ for mobile network when I have to pay additional bitcoins fee which is nearly 2$? Is there any logic? If I want to start bitcoin business, how can I tell people that it's good? If I say so, than this will be 100% lie. Bitcoin don't gives us opportunity to spread it worldwide because it sucks now. It's now good for rich people and darknet users, not for someone who wants to use it as an alternative of real money.
This is indeed a serious problem, because the amount of fees must be increased in order to facilitate the delivery. But if you tell them that bitcoin can be used whenever and wherever, they will be interested and start using it. Other than that also tell that bitcoin can be used as a very profitable investment.
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June 10, 2017, 01:29:29 AM
 #27

We all know how wonderful was bitcoin at first, fast mining and fast confirmations. But now will new people in crypto start using bitcoin? Fees are so high, very bad, it's only for 2000$ and higher transactions because of it's high fees. It's useless for normal transactions because why the hell will I use bitcoin if I want to pay something, for example paying 10$ for mobile network when I have to pay additional bitcoins fee which is nearly 2$? Is there any logic? If I want to start bitcoin business, how can I tell people that it's good? If I say so, than this will be 100% lie. Bitcoin don't gives us opportunity to spread it worldwide because it sucks now. It's now good for rich people and darknet users, not for someone who wants to use it as an alternative of real money.
If we tell people that if they receive payments in btc, there money will increase overtime, isn't that fantastic. This would kill fees pain to some extent.
That's an absolutely terrible idea.  You risk losing family and friends for giving them investment advice without even using tentative terms.

If people's only aim when receiving Bitcoin is for the price to increase, then there are no fundamentals and that situation sure as hell couldn't last forever.
Yeah. That completely ruins the point of having a decentralized currencies. We shouldn't be telling people that they are just going to be making money, we should let them know that they get to manage their money and don't need to use a bank.
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June 10, 2017, 01:38:12 AM
 #28

We all know how wonderful was bitcoin at first, fast mining and fast confirmations. But now will new people in crypto start using bitcoin? Fees are so high, very bad, it's only for 2000$ and higher transactions because of it's high fees. It's useless for normal transactions because why the hell will I use bitcoin if I want to pay something, for example paying 10$ for mobile network when I have to pay additional bitcoins fee which is nearly 2$? Is there any logic? If I want to start bitcoin business, how can I tell people that it's good? If I say so, than this will be 100% lie. Bitcoin don't gives us opportunity to spread it worldwide because it sucks now. It's now good for rich people and darknet users, not for someone who wants to use it as an alternative of real money.

It's really high fee for low amount transaction like $10-$30 but it's still low fee if your transaction is around $2000+. It's really fuck up though, the miner takes a high fee for that. Actually we can still attract new people to stat using bitcoin without tell them about the fee tho. I'm sure someday the fee will decrease.


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Blind Legs Parker
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June 10, 2017, 02:35:37 AM
 #29

It's useless for normal transactions because why the hell will I use bitcoin if I want to pay something, for example paying 10$ for mobile network when I have to pay additional bitcoins fee which is nearly 2$? Is there any logic?
If bitcoin is too expensive to use as a currency, why not just stop using it as a currency? I have stopped paying for my beers at the pub with bitcoin (but yes, I used to: there's a pub in my city that accepts bitcoins), unless they specifically give discounts on that day for bitcoin users and it covers the cost of the fees (which actually happened recently in said pub).
Yet I haven't become bearish regarding bitcoin. It doesn't need to see mass adoption to have value. Look at gold. Who actually uses gold? Not me. And clearly not a lot of people if "using" means "transaction with". Yet gold is a couple hundred times more expensive than bitcoin. The catch here is that gold is a store of value. Its value lies in the very fact that it won't fall too much even if it has to go south. And guess what: bitcoin is also a store of value.

Bitcoin doesn't need to be used for transacting by the whole planet to have value. In fact, no one could use it for transactions that it would still have value. Ergo, high fees just mean a different conception of bitcoin from yours, not that "it is bound to die soon and that whatever shitcoin will take over".

Vous pouvez maintenant refermer ce topic et reprendre une activité normale. À ciao bonsoir.
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June 10, 2017, 02:43:29 AM
 #30

Well, I can successfully suggest bitcoin to my trading friends

Indeed, trading I'd still an integral part of the bitcoin ecosystem no matter how you look at it. Basically everyone that uses bitcoin will have at least speculated on its price or other altcoins concerned during their bitcoin career. And this aspect of bitcoin is not as affected as other areas by the rising transaction fees, such as faucets and micro earnings sites who have to process significant amounts of inputs and outputs in a single day.

I'd also argue that bitcoin is still a good long term investment no matter what transaction fees are. Because as long as you save up enough bitcoin in your wallet. These people in Venezuela for example is currently experiencing high inflation. Holding bitcoin would be an excellent way to hedge against the ever depreciating national currency.

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June 10, 2017, 02:50:29 AM
 #31

Bitcoin has small chance to be used as a currency right now due to this problems, but who knows how much people still use it that way, maybe in Netherland or in Japan. But we do know for sure mostly people don't use bitcoin as an alternative currency instead of using it as trading object or store of value. Untill this unconfirmed transaction be resolved, we don't have any other option just hold your bitcoin and use it as you want, no need to suggest bitcoin to people who don't want to.
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June 10, 2017, 03:30:32 AM
 #32

A lot of problems are happening to the world but all there are here that have high transaction costs that are not fast, I am quite pitched as a normal person that all that does not have to rush and should not wait for high fees to send transactions.

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June 10, 2017, 03:41:43 AM
 #33

We all know how wonderful was bitcoin at first, fast mining and fast confirmations. But now will new people in crypto start using bitcoin? Fees are so high, very bad, it's only for 2000$ and higher transactions because of it's high fees. It's useless for normal transactions because why the hell will I use bitcoin if I want to pay something, for example paying 10$ for mobile network when I have to pay additional bitcoins fee which is nearly 2$? Is there any logic? If I want to start bitcoin business, how can I tell people that it's good? If I say so, than this will be 100% lie. Bitcoin don't gives us opportunity to spread it worldwide because it sucks now. It's now good for rich people and darknet users, not for someone who wants to use it as an alternative of real money.


Bitcoin has done everything well up until now, as the number of users has increased, it has overwhelmed, now it can not meet the needs of people across the country, so it needs Major changes to continue to evolve, however, have not yet been unanimous as the bitcoin core has consistently refused to take action. It's bad if this continues





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June 10, 2017, 10:39:03 AM
 #34

There is alternatives to bitcoin, one of the legit coins is LTC which every bitcoiner somehow has investment in it as well, when there is no controlling force, no authority to take matters under control, when the whole network is decentralized it mean no one actually can do anything other than miners.
You'll have to either use alternatives or try to do less transactions in bitcoin. Besides no one guaranteed this to be a favorable cryptocurrency.
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June 10, 2017, 10:52:30 AM
 #35

We all know how wonderful was bitcoin at first, fast mining and fast confirmations. But now will new people in crypto start using bitcoin? Fees are so high, very bad, it's only for 2000$ and higher transactions because of it's high fees. It's useless for normal transactions because why the hell will I use bitcoin if I want to pay something, for example paying 10$ for mobile network when I have to pay additional bitcoins fee which is nearly 2$? Is there any logic? If I want to start bitcoin business, how can I tell people that it's good? If I say so, than this will be 100% lie. Bitcoin don't gives us opportunity to spread it worldwide because it sucks now. It's now good for rich people and darknet users, not for someone who wants to use it as an alternative of real money.
Meanwhile in our country, we get comission of 5% percent from what we have purchased with bitcoin. I'm using it to purchase load, pay bills, send money for someone wothour fee. Don't be negative since bitcoin would be less fee if local exchangers has been built i  your country.
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June 10, 2017, 01:17:41 PM
 #36

We all know how wonderful was bitcoin at first, fast mining and fast confirmations. But now will new people in crypto start using bitcoin? Fees are so high, very bad, it's only for 2000$ and higher transactions because of it's high fees. It's useless for normal transactions because why the hell will I use bitcoin if I want to pay something, for example paying 10$ for mobile network when I have to pay additional bitcoins fee which is nearly 2$? Is there any logic? If I want to start bitcoin business, how can I tell people that it's good? If I say so, than this will be 100% lie. Bitcoin don't gives us opportunity to spread it worldwide because it sucks now. It's now good for rich people and darknet users, not for someone who wants to use it as an alternative of real money.
we can explain to them that, it is not bad to have a transaction fee for fast transaction every kind of bussiness has it too, just tell them that do not mind all day the transaction fees just work harder for us to get our salary in bitcoin more bigger and we can save more in bitcoin and when we need to withdraw we will not problematic about the fees.
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June 10, 2017, 01:23:06 PM
 #37

We all know how wonderful was bitcoin at first, fast mining and fast confirmations. But now will new people in crypto start using bitcoin? Fees are so high, very bad, it's only for 2000$ and higher transactions because of it's high fees. It's useless for normal transactions because why the hell will I use bitcoin if I want to pay something, for example paying 10$ for mobile network when I have to pay additional bitcoins fee which is nearly 2$? Is there any logic? If I want to start bitcoin business, how can I tell people that it's good? If I say so, than this will be 100% lie. Bitcoin don't gives us opportunity to spread it worldwide because it sucks now. It's now good for rich people and darknet users, not for someone who wants to use it as an alternative of real money.
we can explain to them that, it is not bad to have a transaction fee for fast transaction every kind of bussiness has it too, just tell them that do not mind all day the transaction fees just work harder for us to get our salary in bitcoin more bigger and we can save more in bitcoin and when we need to withdraw we will not problematic about the fees.

Explaining to people about bitcoin is easy, but to trust them and use bitcoin, it is a very difficult task, although bitcoin has a lot of potential and advantages to develop, but it is still a co Virtual money, very few people trust it, they are always afraid of its existence, and it can collapse at any time.
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