Bitcoin has no role in real world

[orions.belt19]

What a short-sighted tool.

1. Bitcoin is not recognized by governments TODAY, but slowly and eventually bitcoin's value will shine through and adoption will increase. With this, will come stability in terms value which will make it viable as a global currency.

2. Fees are rooted in the design yes, thats basic and I doubt any legitimate statements declare bitcoin as zero-free. The key to understanding this is that the fees are LOWER than what your traditional blood-sucking financial institutions are charging.

Come on, open your eyes bro.

As we can see, more and more jurisdictions are now starting to give some recognition for cryptocurrency and Bitcoin. It's quite impossible for there to be zero fees because there's no such thing as a "free lunch". Everything comes with a cost and everyone just wants to profit in almost anything. As compared to other financial investments, Bitcoin is the best because the fees and interests offered by other establishments are way too heavy and cost too much that you sometimes just lose your investment in the long run or breakeven.

There may be minimal or limited uses for Bitcoin now, but that's how most great things start. There's no surprise to that because its not yet even known to some people.

You may not see it now, but Bitcoin has and will have a significant role in society. It's just in the process of getting there.

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[kier010]

you can say that in the past but not to present and maybe to future. more and more people use bitcoin everyday and bitcoin do his role. you see bitcoin is money and can be use in real world.

[Red-Apple]

all of the things you said are just YOUR OPINION. nothing more.

and reading other comments i can see nobody agrees with it.
and i find it absurd that you say bitcoin has no role in the world just because it is not backed by anything like a government. that just shows you have trouble understanding what a decentralized cash means.

[cybersofts]

Hi getreal,

Do i know you from BBHF? it appears you are still skeptical about bitcoin.
But let me brief you about the advantages of bitcoin; bitcoin is digital currency that is fast, secure, decentralized and also has very cheap transaction fee compare to PayPal, WebMoney, or Skrill. Bitcoin provide the easiest way to transfer money from one person to another without the intervention of third party. Bitcoin is giving back people the freedom of sending and receiving money online without borders, restrictions or any regulation what so ever. Bitcoin is completely for the people and controlled by the people.

[Colt81]

Bitcoin today already has a huge role in the real world as it helps improve the financial situation of many people and in many places you can pay for purchases with it. He has just started to develop and he needs even more time for everyone to feel his importance.

I absolutely agree to that, bitcoin has a huge role in the real world like it helps many people to gain and make money. Furthermore, it is also serve as their job because they could make high salary. I hope bitcoin will continue to develop because I know it has positive effect in our real world.

[FrayDigger]

I don't agree with this statement cause of Bitcoin is our future.. And also the government try to legalized it in many countries and the blockchain system.But in majority blockchain system. BTC is a worldwide coin.

[ged00u]

No dude. Bitcoin is playing an important role in our life since there are many people depending on bitcoin and bitcoin has also brought us a new kind of technology. It has been only 9 years since bitcoin was created and therefore, we need to wait for a long long time for bitcoin to be accepted widely. Even though bitcoin fail, the blockchain technology in bitcoin will help us to rebuild the world

[FrayDigger]

I think his frustration is mainly due to the slow rate of Bitcoin adoption by the mainstream public, and this argument has some merit. However, the simple fact that few years ago, people who talked about bitcoins as really valuable currency were considered nutjobs. Now it is a little bit weird still to everyone, but people start coming along with the whole idea of it being limited currency.
So I’m sorry to hear that you see no value in cryptocurrency.
Quite large developers are coming up with wallet applications and more and more people are now really into the whole Bitcoin mining. So, it’s probably just a manner of time before Bitcoins will have as the person says “real world value”. Not this year or next, but eventually.
 And regarding the whole argument about people depending on it, therefore it has value. I don’t necessarly agree that it holds up too. The global infrastructure of the cryptocurrency is not finished and not accepted (mostly on the side of society, rather than technology), so the whole concept of Bitcoins is simply incomplete, since one of the primary goals of any currency is not only to have value, but also to have a large economic circulation i.e. being used by a large group of people.

I'm absolutely agree with you. This is not to majority understanding.

[matuson]

This is not so. Bitcoin is of great importance in real life. No matter it helps you make more money or not. Bitcoin is a completely new approach to the economy. This is an opportunity for people to feel their own strength. With it, people will be able to dictate terms to the government. You just need to understand it.

[Bakemat]

BTC has no role to play in the real world affairs. People who try to create such a role are confused between asset and currency. The design itself only considers pure virtual activity with no touch with real world. People also mistake the buzz words such as "peer-to-peer", "border-less", "decentralised" etc as the problems to be solved. But sadly these are not real problems. The insignificant problems (speed and fees) are hardly enough to sell and these problems are going away anyway. I have no respect to Nakamoto because he ignored the most important element (govt and authorities) in social situation and still want to sell it as some solution to social situations. Hardly any country has regulatory framework that deals with btc.

The problems are rooted in the philosophy of crypto, not in the code. So, the beauty of blockchain tech is irrelevant for btc. It is like selling a bad app by showing how great Android is.

1) Bitcoin does not provide controlled visibility, because it doesn't recognise the existence of governments. Now if you make changes to provide visibility to authorities, ALL privacy is gone. If you don't, then ALL visibility is gone.

2) Fees are rooted in the design. Whatever consensus you invent for a public blockchain, you can't escape rewarding the work of validating transactions. So zero fees are not possible.

Public blockchains sacrifice all good qualities of a business application for the sake of trust-less environment which is not even actually a problem to solve in many contexts. Also they make it extremely costly to run small amount of code or small storage. Who wants their business code to be validated by all arbitrary people in the world?

Most ICOs are sharing economy concepts similar to uber model. Lack of a responsible intermediary and costs will make these "innovations" to fail, if they ever have to touch real-world activities.

Bulk of the blockchain activity will move to business collaborations which might not even look like a blockchain. Crypto coins will be used in most business blockchains, but these coins will be value-less tokens and very specific to the business or institutional activity.

if you think practically then bitcoin has no role in our life, its true because bitcoin is only alive in the online currencies but if you think logically bitcoin have a great role in our life. it can gives our daily needs by the bitcoin and bitcoin has a expensive value so if you change it to your country i think your practically thinking will become logically.

[loof99]

you make me laugh 
and i feel sorry for you

just accept the reality the bitcoin will change the world ^_^

[markj113]

Bitcoin has no role?

What about having true control of your money without having to ask a bank for permission to spend your own cash.

Recently I ordered a 1kg gold bar and tried to pay with fiat :
Tried to pay with online banking - declined as amount was too great.
Number pops up to ring to complete transaction - number was dead.
Rang the bank, answered the security questions and still refused as amount was too great.
Get put through to another department, answer all the security questions and still refused as my mobile phone number had only been on file for 2 years.
Have to travel to bank branch with lots of documentation, wait ages and finally get them to send my money as requested.


Ordering 8 X 1kg gold bars with bitcoin.
Click send bitcoin.
Job done.


Had the same issues when buying my last car.
Gave pre notification I was taking out a large sum of cash from a branch to pay for a car that was being delivered.
Went to bank with all documentation and they still refused to give me my money.
In the end I got them to electronically transfer funds to the dealer.

Fuck the banks.

[JTASSOCIATES]

When I came to know about Bitcoin I didn't believe on it and just start and idle for few months and when I got the chance to meet my friend who introduce me Bitcoin told me that he is doing nothing then Bitcoin and it become his bread earning from that day I start learning about Bitcoin seriously and now reply in this forum for the question Bitcoin has no role in real world.

If one person fulfilling his family need through Bitcoin means Bitcoin has a role. This is my simple explanation which is more then enough for the question raised.

[Baby Dragon]

I don't agree with you, Bitcoin is playing its role for everyone, Take me for example, i can now pay with bitcoins where i had to give my personal info like credit cards etc, Its protecting my privacy. Almost every major retailer accepts it, yeah the fees are a bit on the high side these days, but a fix is coming soon. Also to me my privacy is everything, So i won't mind paying an extra $2 here there if it can protect me in the long run, So when you say bitcoin isn't playing its role its just plain BS. It's serving the Elite Group, Helping them to move money from one country to another without paying the Extortion(tax) along with people like us who don't own much but Definitely use in our day to day life. Bitcoin is exactly doing what it was made to do.

We all know that bitcoin has a big role in this world because it helps some people to gain and make money that they need in their daily life. In addition to that, bitcoin has a big role in this world and it also reduced some unemployed people because they use as their job.

[Bolt Brownie]

I don't think your "points" are important or say anything about the role that bitcoin can have in the world. You think it has no role? Tell that to the people in Venezuela that are being saved by bitcoin right now, and it's ability to by pass their government when they use it. I have a problem with fees? You pay so many fees when using centralized services, how can you complain about the bitcoin fees?
And what do you have to say about government debt getting downgraded all over the world? Fiat is no longer backed in gold, is just backed in faith, and the interests of few, and that is no longer working.
Not saying bitcoin will get adopted or not, no one knows is it will succeed, and yest it has many problems to solve first. But as for a role in the real world, it already has one, by showing that there are alternatives to the current standard.

[kpcian]

I don't agree with you on this issue. Bitcoin is playing a vital role in the real world. really it helps for the unemployed people regarding making money. with the help of Bitcoin, a lot of people can be able to meet up their daily essentials. not only that Bitcoin also being used as a business hub. it is becoming a popular platform for trading and investment. so Bitcoin system is playing a fantastic role in the real world.

[jasindu36]

Most of the people will not agree with your statement as you said Bitcoin has no role in real world but I am not fully disagree with you if it has been regulated till now that would be very good for us who are holding btc. but I would say it's a new thing as of now. One day according to times need it will be regulated. It will get more recognition in normal people life as they are not much aware about bitcoins. Nowadays thousands of people buying Btc as it is well known world wide but on the contrary banks are charging high fees for transactions & Btc charging less fees as compare to bank.

[jc89]

Well I beg to disagree with your statement here. We've been using bitcoin as a mode of payment online for various transactions. We've encashed some coins thru exchanges and used those money for different purposes such as paying bills, buying stuffs and others. We've used it in trading and gained really good profits. It's also been considered as a source of income especially for the unemployed. If these things aren't present and not happening in the real world, then yes, bitcoin is non-existent and I'm just using it in my imagination. Thank you very much.

[eternalgloom]

BTC has no role to play in the real world affairs. People who try to create such a role are confused between asset and currency. The design itself only considers pure virtual activity with no touch with real world. People also mistake the buzz words such as "peer-to-peer", "border-less", "decentralised" etc as the problems to be solved. But sadly these are not real problems. The insignificant problems (speed and fees) are hardly enough to sell and these problems are going away anyway. I have no respect to Nakamoto because he ignored the most important element (govt and authorities) in social situation and still want to sell it as some solution to social situations. Hardly any country has regulatory framework that deals with btc.

The problems are rooted in the philosophy of crypto, not in the code. So, the beauty of blockchain tech is irrelevant for btc. It is like selling a bad app by showing how great Android is.

1) Bitcoin does not provide controlled visibility, because it doesn't recognise the existence of governments. Now if you make changes to provide visibility to authorities, ALL privacy is gone. If you don't, then ALL visibility is gone.

2) Fees are rooted in the design. Whatever consensus you invent for a public blockchain, you can't escape rewarding the work of validating transactions. So zero fees are not possible.

Public blockchains sacrifice all good qualities of a business application for the sake of trust-less environment which is not even actually a problem to solve in many contexts. Also they make it extremely costly to run small amount of code or small storage. Who wants their business code to be validated by all arbitrary people in the world?

Most ICOs are sharing economy concepts similar to uber model. Lack of a responsible intermediary and costs will make these "innovations" to fail, if they ever have to touch real-world activities.

Bulk of the blockchain activity will move to business collaborations which might not even look like a blockchain. Crypto coins will be used in most business blockchains, but these coins will be value-less tokens and very specific to the business or institutional activity.

1) Bitcoin does provide controlled visibility, what do you think a public ledger like the blockchain does otherwise?

2) What is wrong with Bitcoin having fees? It's a way to reward people for processing transactions made on the Bitcoin network.

You see more and more governments regulating Bitcoin and most of the western world seems to stand fairly positive towards it.
The level of success is debatable but I would say that Bitcoin has had some impact in the world.

[bitbunnny]

I can't agree with such statement because it's simply not true. Bitcoin has developed a lot and passed a very long way from the begining until this role it has now. It's getting more and more accepted, it has practical use in real life, more and more governments are taking into consideration the decision for regulation and it's becoming the normal part of peoples' finances.