Bitcoin has no role in real world

[jona]

It has a role that it is playing,financially it has change so many life that would have been lost by now,it has change the life of some family and friends and that is what money is meant for,call it digital or fiat currency.

[RavRider]

I think thats true. The value of bitcoin is very high at the moment, but its not high enough to make a difference to the world. Also to less people are using bitcoin and other cryptocurrencies. When bitcoin can reach the mainstream people, which means that you can pay in stores with cryptocurrencies, then will bitcoin play a role in the world and can make a difference. But not before. Until this will happen it will take years. So the mainstream people are not ready for cryptocurrencies.

[ASICHEAD]

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 actually disagree with this, I actually feel that you may not be able to see the effect that bitcoin has on the real world but with how everything is going and progressing. I think that it is just a matter of time when the world would be needing this virtual and digitized currency to progress further. This are the currency of the future and would be used i. Many integrations like instant payments, instant transfer and being able to invest and earn and grow you money by trafing

The government does not need to use Bitcoin to use the blockchain technology. Bitcoin is just simply used the blockchain technology to create a decentralized system. And after Bitcoin released, a lot of altcoins created improve blockchain to speed up the confirmation time for this system. Ripple, Ethereum, Digibyte got success in this issue. You have to know these knowledges.

[Severniti]

Well if you give Bitcoin 10 more years you will see what it is capable of.
Is it too much to ask? Don't doom it right away.

[longwintershere]

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.

it's very easy to say things are wrong. But people behind some ICOs, bitcoin etc are trying to make the world better place. You have named the reasons why they're not good enough, now tell us how you will change it

[cryptoalfs76]

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.

Actually people have different opinion,about the cryptocurrency,and i respect for that, in your side but me as my own is still believe that all of this doom happen  in crypto world will resolved,because  for me bitcoin have a big purpose  into this real world and thats why its created to help the  economy make better and all people become a  capitalism.this all chaos now happen in cryptocurrency will  one by one resolved lets give them a chance to  evolved on there own, to solve all this situation.

[Mr.Anonymous]

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.

Actually people have different opinion,about the cryptocurrency,and i respect for that, in your side but me as my own is still believe that all of this doom happen  in crypto world will resolved,because  for me bitcoin have a big purpose  into this real world and thats why its created to help the  economy make better and all people become a  capitalism.this all chaos now happen in cryptocurrency will  one by one resolved lets give them a chance to  evolved on there own, to solve all this situation.

After used Bitcoin and cryptocurrency a long time, in my opinion, I think Satoshi Nakamoto just created the cryptocurrency to show ability of blockchain technology for the world. In the past, no one knows cryptocurrency, the concept about decentralized system. But today, many people know that and understand why do we should to have it now!

[kuruyama]

Bitcoin has actually have a role in the real world, for real bitcoin has a big value in the real world in terms of exchange. People do use it for paying or for transferring money globally without to much fee for such transfer like we do have in real world the banks.

[19faraon88]

I don't agree with you. Bitcoin is part of the world market now, how you can say that to our bitcoin. If bitcoin has no part in this world, why million of people talking about it and investing their money...

[staywoke081]

While zero fees are not possible, next to zero is and we are heading there soon. Btw the reason BTC seems like you can't use it everyday is because people will say the tech is behind. And the tech is behind because Bitcoin has to be more conservative than all the other blockchains (stands to lose more). Ergo, we should expect Bitcoin to roll out features slower but when they do, they will be powerful believe me. Don't know how long LN will take fully to roll out (2-3 years) but once it is rolled out, it will be exceptional for Bitcoin.

[Marileno]

I believe there is a role. I am not convinced the current form is it though as there are too much issues with it. The community will work these problems out over time and from there i truly believe that de centralised digital currency will be what the world uses in the future. Whether or not that is BTC remains to be seen, however i do think it is unlikely.

[zitbau]

I disagree. Bitcoins really have an important role in the real world. Bitcoin is now also considered a payment option in some countries. It is also considered as a payment method applied in many fields such as business, tourism .. it contributes very important to our lives.

[Genamant]

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.

It has a very big role for us. This is our main source of income so that is a role for real world. Sending money for payments. Not everybody wants to benifit from crypto currencies but for us it our way of life.
Maybe it has no role for you but for many of us it has helped a lot for our daily living

[cvcptit]

I think bitcoin still has role in real world, bitcoin now is become economic driver that make people create bitcoin related companies which will make a lot of job vacancies.

[Kittygalore]

Actually it has. Bitcoin has offered a lot of things already from the successful people down to beginners in investing to Bitcoin. This has helped lessen the poverty rate because as we know Bitcoin gives a lot of profit to someone that invested into it. Maybe know it is unrecognizable because it not yet legalized by the government around the world but Bitcoin really helps in the real world and in our economy as well.

[josephpogi]

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 bitcoin is unreal and do not have role play at all then why is it convertible to specific currency ? specially on USD ? we can use bitcoin as a mode of payment from the real world and on the internet? If bitcoin is unreal then why people, not just ordinary people are chasing it ? holding it ? if bitcoin is not real the why some get financially free because of this ?

[JoshMart]

I don't personally believe in this "Bitcoin has no role in real world". Yes Bitcoin is a digital currency and the entire existence and all transactions are virtual or electronically done that is correct but the big help that the amount of Bitcoin can do to the people's lives once it is exchange is something that we cannot underestimate. We are talking about the hope and help that it brings to people, real people, real situations, real lives are changed for the better. Isn't that enough to at least have a role in the real world?

[doaremon]

What I disagree with you. You must be day dreaming.
Bitcoin is the best virtual currency in the world. Not only that it is also the most valuable currency.Last year the price of Bitcoin was started with only 9000$ and ended with 16k$
This year if the price of Bitcoin rise like the last year then we will see the price at 40k$. So to becoming sure that if you invest now then there is a chance of a profit of 20k$ with in just a year. Again if you see the other people then you will observe that people are becoming addicted to bitcoin. That is the people are investing more and more in Bitcoin. The price of bitcoin will not be down easily. According to some economist, one day Bitcoin will rule the world. So if you want my suggestion then instead of storing it, invest it. More and more investment will make more and more profit.
The more the profit the more will be developing the country.

[rexona]

Bitcoin already has a role, in the real world, because until now many people have been helped, its economy, thanks to bitcoin and in some countries have started using bitcoin as a means of payment. may still take time, for everyone can feel the benefits of bitcoin.

[Tiktik]

As of now we can say that bitcoin has no role in real world but if the government and other big official in a country notice bitcoin and its blockchain system that has a lot of features and possibilities in the next generation like creating more secure and advanced system for our world like remittances and other important and helpful stuff that we can create using the technology of blockchain.