Bitcoin has no role in real world

[Twinscoin2017]

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.

Bitcoin has role in real world, i disagree with your speculation because many coutries has convinced that bitcoin was the most valuable currency and more people who invest in bitcoin. I have trust in bitcoin because i have experience to take my payments and get support to my family. Not only me but bitcoiner in my country.

Well i also believe that bitcoin has a big role in the wolrd specially in the economy and also with the life of the individual that  really depend on the investment profit in the said bitcoin.i believe that bitcoin is hope and its role is to make the people arround believe that there is a light of hope which really in front of us we only need to grab it.

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[Jannatul Shefa]

I don't agree with the view that bitcoin has no role in real world.Every moment bitcoin provide us with many facilities.People became self dependent because of it.They don't need to be depend on their bosses for wages.
Bitcoin also gives a lot of benefits to the investors.
Though it's not a paper money but it has a crystal clear role in real world.

[btcminer6212]

I don't agree with the view that bitcoin has no role in real world.Every moment bitcoin provide us with many facilities.People became self dependent because of it.They don't need to be depend on their bosses for wages.
Bitcoin also gives a lot of benefits to the investors.
Though it's not a paper money but it has a crystal clear role in real world.

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.

[Stef9292]

no role, are you joking? Maybe is not bitcoin but is the blockchain technology, smart contract is the future. Nothing will stop it, its just the natural progression to improve our life.

[eCrypto]

Bitcoin can be swapped for fiat and that is enough

[GreenBits]

i don't believe this speculation about bitcoin are no role in real world, if put on your mind bitcoin helping to people giving hope in the daily routine in lives because bitcoin giving a lot of benefits for the people and helping to economy of every nation accept the bitcoin as currency using the volatile, example the role of bitcoin in world giving decent job for the jobless and if the nation or country are in troubles to provide the great job for his people bitcoin giving this and give good income.

I hear this particular rhetoric alot, but I dont understand it. usually, you arent going to earn enough in bitcoin to make a wage, unless you have a very particular skill. if you live in a place where the income from token bounties/ faucets can make a difference, it seems like the level of adoption would be even lower. bitcoin, in its direct format, may assist with transferring value to the poor, but it offers no solutions as far as ameliorating poverty. poverty is a result of unfair resource allocation; this is the raison de etre for how bitcoin prices itself.

final question; for all the value that was gained in bitcoin, has the global economy improved one bit? or for that matter, poverty in general?
they dont seem correlated

[Mike Mayor]

Wow what a load of nonesese and you spent so much time writting it. Pity you never spent that much time thinking. I use Bitcoin to buy things all the time so please tell me he that is not real world applicable? I buy all my video games with Bitcoin too. I love to use Bitcoin it lets me pay for things I otherwise could not because the biggest problem for me was actually making a payment for something online. This is solved by Bitcoin. If Bitcoin has no role then I guess my life neither since I'm all about the Bitcoin baby. xD

[50ouncebrew]

Yes it does. Anyone who says Bitcoin/crypto doesn't have any use in the real world is straight up lying or doesn't know what they are talking about. It has many uses and people use it every day to pay for almost anything.

[Washball]

This statement shows the state of denial this person is in.  It's understandable that you do not accept something new for real. Change is always hard to accept and some people prefer a living without too many changes. But in the end they will have to live with the reality, which is that technology is developing and new ideas come alive. Bitcoin is relatively new and there might be some problems, but It's here to stay. It will develop and improve and already proofs it certainly has a role in real live. Even the financial world with large banks who were sceptic, now join in and invest and trade cryptocurrencies.

[IanRidgwell]

I don't agree with the view that bitcoin has no role in real world.Every moment bitcoin provide us with many facilities.People became self dependent because of it.They don't need to be depend on their bosses for wages.
Bitcoin also gives a lot of benefits to the investors.
Though it's not a paper money but it has a crystal clear role in real world.

No doubt that bitcoin is playing a very important role in the world. In future I think its importance is increasing, Bitcoin has a vital economical role in this world. Bitcoin is providing good support to people to get their livelihood, it has already make people billionaire, specially those people who are holding bitcoin for a long time.

[montefalco09]

Bitcoin has role in the world it helps people in their everyday lives and it can be also donate on some charity funded by market that has bitcoins so bitcoin has so many role in the real world

[ceferov]

In some point you are right. Not enough usage yet. And BTC is still in BETA version of it. That's why price moving this much. I believe it will have more real world usage in near years. And BTC price needs to calm down to make it possible

[buwaytress]

This statement shows the state of denial this person is in.  It's understandable that you do not accept something new for real. Change is always hard to accept and some people prefer a living without too many changes. But in the end they will have to live with the reality, which is that technology is developing and new ideas come alive. Bitcoin is relatively new and there might be some problems, but It's here to stay. It will develop and improve and already proofs it certainly has a role in real live. Even the financial world with large banks who were sceptic, now join in and invest and trade cryptocurrencies.

To be fair, some of his points carry a certain weight of validity, especially once you discuss Bitcoin's aspects with a lot of real world users and businesses. The trustless aspect, particularly, which appeals to me, does not make logical sense to people from my parents' generation who believe in the role of state and institution, needing a central authority to guarantee in some way that their funds are regulated, their consumer rights are protected and their responsibilities for assets shared with the state.

This is why some who obtain Bitcoin as an investment prefer to trust some service to act as guardian and arbitrator for their holdings. The OP rightly made that comparison to Uber models, as a lot of people (mistakenly) believe that they are more protected with a third party to arbitrate on their behalf in case of problems.

He is mistaken, though, in seeing no real world role for Bitcoin. The blockchain tech behind it alone is already bringing improvements to many industries in terms of transparency and cost efficiency.

[Ronaldcoin2017]

This statement shows the state of denial this person is in.  It's understandable that you do not accept something new for real. Change is always hard to accept and some people prefer a living without too many changes. But in the end they will have to live with the reality, which is that technology is developing and new ideas come alive. Bitcoin is relatively new and there might be some problems, but It's here to stay. It will develop and improve and already proofs it certainly has a role in real live. Even the financial world with large banks who were sceptic, now join in and invest and trade cryptocurrencies.

To be fair, some of his points carry a certain weight of validity, especially once you discuss Bitcoin's aspects with a lot of real world users and businesses. The trustless aspect, particularly, which appeals to me, does not make logical sense to people from my parents' generation who believe in the role of state and institution, needing a central authority to guarantee in some way that their funds are regulated, their consumer rights are protected and their responsibilities for assets shared with the state.

This is why some who obtain Bitcoin as an investment prefer to trust some service to act as guardian and arbitrator for their holdings. The OP rightly made that comparison to Uber models, as a lot of people (mistakenly) believe that they are more protected with a third party to arbitrate on their behalf in case of problems.

He is mistaken, though, in seeing no real world role for Bitcoin. The blockchain tech behind it alone is already bringing improvements to many industries in terms of transparency and cost efficiency.

Well i believe that bitcoin has a big role towards the  negativity of some other people that has really didnt accept the fact that bitcoin is really a big help to those who really want a colorful life through gaining some other profit .I believe that the people who believe that bitcoin has no role in the real life is the person that has really didnt even know bitcoin yet.because if he or she knows about bitcoin they must know that bitcoin has a great role to ordinary people who live with a simple life and in a simple way of living.

[shawn995]

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.

I dont agree with you mate that bitcoin has no role in the real world because bitcoin changes the life of all people who believes in btc.Jobless person can be hired in this forum if that person have skills and get paid.Being here is like having a job that i dont have to deal with rude attitude of bosses and i own my time.Some bitcoiners pays their transaction through bitcoins without any hassle.So i can really say that it has role to play in the real world.

bitcoin is playing a very good role in the real world. bitcoin is changing the life of so many people that are working hard with bitcoin. Bitcoin is changing the idea of the people for the transfer of money from one corner of the world to another because the transfer of the bitcoin is very cheap tax and is very easy way to transfer even from your bedroom to all over the world.

[fruitjay]

At first glance, just because it is known as a cryptocurrency many people presume it does not profitable in the real world. When in fact, many are able to trade it and even successfully pay up projects and purchases.

[Anait]

At the beginning while getting into bitcoin every user has the same thinking that bitcoin has nothing to do with the real world. When they start experiencing the goodness in terms of economy development and other life standard changes agree how it is helpful in real world.

[Naoko]

I still think that bitcoin is real and affects the real world...I'm not only very sure that this will last for the long time(

[BlackPanda]

At the beginning while getting into bitcoin every user has the same thinking that bitcoin has nothing to do with the real world. When they start experiencing the goodness in terms of economy development and other life standard changes agree how it is helpful in real world.

Bitcoin is already very impact on our life in the real world. Bitcoin has directly changed some of the world's economic systems. today more and more people have an increasing economy. I am one of the people who have benefited from Bitcoin. Now I can earn an incredible income from Bitcoin World. This is proof that Bitcoin is already very influential and I also feel that everyone has felt the positive benefits of Bitcoin. We must continue to maintain Bitcoin, the use of Bitcoin in everyday life will make Bitcoin much more stable and more widely trusted by investors.

[mega]

I donot agree with this statement,Bitcoin has worthy impact on real world even it is not more popular but who know it and and part of bitcoin their lives become more easier,Bitcoin is best platform of trade and investment,financial security,and make transactions globally.There is no limitations earn as you want.