Bitcoin has no role in real world

[AtheistAKASaneBrain]

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.

People are saving their ass in places like Venezuela thanks to bitcoin allowing them to receive payments from all around the world. They can also sell good and services in the dark market.

Your fatal flaw is that you are assuming all governments in the world are "good" like on developed countries. Well guess what, a lot of people's life depend on censorship resistant tools such as BTC and Tor to survive, so stop selling this narrative of it having no impact on "the real world" be cause "the real world" includes the endless amounts of corrupt governments out there.

Eventually all countries will end up like Venezuela due hyperinflation due the fiat system scam and you will be sorry of your words while BTC holders become rich.

[farhaan]

So,you really think that bitcoin has no role to play in real life affairs.You are saying that satoshi has not considered about recognizing governments.You should not forget that bitcoin is created as a decentralized currency to free people from depending upon banks for transactions.It is this decentralized nature which has made bitcoin to survive without the intervention of any government.It has got people's trust only because it is totally out of the hands of governments.Otherwise,bitcoin's life would have been compromised much earlier.I just see you as a person of bad luck since you have not understood the tremendous benefits of bitcoin.

[Cryptoogoon]

I believe in crypto currency but finding it hard to reconcile in my tiny mind why I'd use Bitcoin for 'everyday' transactions when quite a majority of folk are expecting its value to keep rising.

(yes I have used it to transact and along with the fees & time to transact, I'm wishing I used dollars now!) 

Am I better off not using fiat and hoarding/holding bitcoin?  Many are either holding it as a store of future value or trading it on markets like a commodity.

Will it be a bit like gold - keep it or trade it and use alternates for purchases?

Or will one/more of the altcoins be the 'everyday' transaction crypto currency?

Grateful for any gurus to put me on the straight and narrow here 

[sampalokmix]

You write too much in your mind It seems like you have a lot to learn about what bitcoin is You already misunderstood what bitcoin is.

Well I dont think so giving the fact that it was able to give people a profit more than an estate job can do in a shirt period of time has already a role, it provide people moneyy to sustain for daily expenses and some people use it as a way to start bitcoin, maybe youre just thinking about its medium that it was only a brain child of a person but never been useful

[getreal]

What will you do if the gold bars are not delivered after your btc payment? Would the dispute resolution be easier with fiat or with btc?

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.

[getreal]

People are saving their ass in places like Venezuela thanks to bitcoin allowing them to receive payments from all around the world. They can also sell good and services in the dark market.

Your fatal flaw is that you are assuming all governments in the world are "good" like on developed countries. Well guess what, a lot of people's life depend on censorship resistant tools such as BTC and Tor to survive, so stop selling this narrative of it having no impact on "the real world" be cause "the real world" includes the endless amounts of corrupt governments out there.

Eventually all countries will end up like Venezuela due hyperinflation due the fiat system scam and you will be sorry of your words while BTC holders become rich.

Essentially, you say that bitcoin is for anarchic situations and for extremely bad countries. That also means that for bitcoin to survive, the entire world has to look like Venezuela. That is your dream which far more unlikely to become reality than what I was saying - to let governments have control over currency.

The role in real world which I was talking about is not about whether you made some purchases using your btc or not. The role is about playing nice with all other real world systems. Providing controlled visibility to authorities. Co-existing with the existing systems. Right now, if the authorities want to track a bitcoin payments to real people, it is much much harder than for fiat. That clearly shows that BTC has no intention to play nice with the authorities.

Whenever you take a position against the law, governments etc, you are labelled as an outlaw, doesn't matter if your cult society recognises you as a visionary, leader or innovator. It is you against government. And your survival depends on knocking down all institutions that built over centuries.

Right now there is 2X more negative news than positive news about crypto in general. This applies to btc as well. This happens because now authorities are slowly able to separate the anarchy-vision of the bitcoin from its innovation fame.

From its philosophy and design, bitcoin has no scope for participation by authorities. So it is pretty limited to the law-less world - that is not the real world. Most businesses that accept btc now will stop it its price falls, and also due to hassle of record keeping, taxes etc.

[evermotz]

Crypto still not recognized by most people in my country, but it doesn't mean Bitcoin has no role...

We just need time and courage,,, more and more people became aware of crypto and it's potential, I do believe Bitcoin will be very usefull and powerfull in the future ~

[mevmike]

If all people around the world would be as closed minded as your are.
Then bitcoin and other cryptocurrencies will surely not have a role in real world.
But luckily there are people who believes that cryptocurrency has purpose.
And as days goes on, more and more roles are given with this coins.
People are now using it as a way to exchange goods and services.
And if you won't call it as a role then i don't know what should it be called...

[Al Amin]

I do not agree with your statement, because for myself bitcoin has an important role in real life. Because bitcoin is able to give me more profit in economic terms. I use bitcoin for me to exchange to banknotes in my country. And of course I use for daily needs.

[LouVandetta]

Seems like the op has never earned anything with bitcoin, hence he/she didn't know anything about it.
Bitcoin surely has role in this world. I don't give a sh*t 'bout what you're talking about, I believe what i want to believe.
And there's nothing wrong with fees.

[Caladonian]

Seems like the op has never earned anything with bitcoin, hence he/she didn't know anything about it.
Bitcoin surely has role in this world. I don't give a shit what you're talking about, I believe what i want to believe.
And there's nothing wrong with fees.

Its depend mate to those who will appreciate this system bitcoin have its own advancement in terms of payment transactions if this can be adopt from most countries where market can be used the system to lessen the hassle and delayed bitcoin or any crypto will change that.

[iamMhew]

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.

you cant totally touch the virtual activity, come on, we are on modern age, and nobody wants to stock up on that classic world before, so why are so confusing about this virtual activity program and see/look around you, all virtual are totally exist at this year or maybe some other years. virtual you mentioning are had some roles by now, as we can see, the "bitcoin" you mentioned that has no role are rolling the whole world. thats a no role for you?

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.

but some of this element you mentioned are totally (already) ruined their own country  (govt and authorities). the reality is no one in the government has to deserve to respect in terms of privacy. they want to get involve on some situation that no related on the government. like for example, your all assets, government wants to know all about your hard work assets just to prove that you are totally wealth in your country but not recommended, meaning (privacy obstract)

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.

really? selling bad app showing how great the android is (products)? the beauty of blockchain tech is all over the people who totally educated by bitcoin, theres no bad in that way.

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.

yes privacy are totally gone, but for what? is that privacy to be visible to the governments and authorities? the truth is, government wants to implement some rules to take over the control of bitcoin on their country.

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.

at this time no one things are free, even you go to the public cr, theres a fee to be paid before you use that service.

 

[rhomzkie26]

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 beg to disagreed in this statement of yours, your not really deeper in bitcoin as well. Bitcoin helped a lot of people all around the world, also many of them became rich after a years here in this industry because of holding bitcoin in a long term. Aside from each everyone of this community users of bitcoin are getting much higher than we expected.

[Nisharawal]

I dont agree with your words that bitcoin dont have any role in real world, basically its doing their job perfectly and it has satisfied thousands of people including me. Infact i would like to add that It has gone beyond people's expectations and it has something big role in future for every nation who uses bitcoin and who are planning to use bitcoin. Jobless people are earning good income, and people are able to transfer money from one nation to another without paying huge taxes comparing to other payment methods.

[getreal]

I'm dismayed at how most people here go by btc price and their ability to purchase using btc.That's it. It proves that btc has a role in real world?

I asked whether it is currency or an asset.No one cared to answer. I asked about dispute resolution in case the real-world delivery of value (goods/services) don't meet the promised quality. I asked about providing visibility to government instead of being at war with govt.

No one, not a single soul cared for thinking about the above. All they think about is the current btc price. Awesome.

[Victorycoin]

I'm dismayed at how most people here go by btc price and their ability to purchase using btc.That's it. It proves that btc has a role in real world?

I asked whether it is currency or an asset.No one cared to answer. I asked about dispute resolution in case the real-world delivery of value (goods/services) don't meet the promised quality. I asked about providing visibility to government instead of being at war with govt.

No one, not a single soul cared for thinking about the above. All they think about is the current btc price. Awesome.

From the tone of your your language, you're almost paranoid with Bitcoin and the people who have embraced  it, perhaps because you missed the early morning train! That's however no reason to start brewing a storm in a tea cup, because all you have allured in this thread are bunkum. You know any answer you seek about Bitcoin is right in front of you, if only you can clear your head of misconceptions and misgivings. At the end of the day, Bitcoin and cryptocurrency cannot be for everybody and if you happen to be one of those that see nothing good in Bitcoin, it's ok, just look the other way!

[djselery]

I really disagree with this idea. Bitcoin nowadays have a big role in the real world, and even some developped countries (Japan, Germany..) legalized it, and its supported as payment method in many marketplaces around the world, and there is even many Bitcoin ATMs in some countries. Thats regardless its huge using online by a growing up and big community

[xIIImaL]

For laymen bitcoin is not playing any role in their life but for whales they very well aware of bitcoin and some of them watching best time invest and some are invested already and monitoring it.

To see how bitcoin is being used by the whales you can check the coindesk news section. There is adoption and blockchain based implementation in every day. This itself shows that we are able to confirm that bitcoin is being used in real world in every places.

[Lalafell]

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.

Well, you can simply say that bitcoin already have role in this role like it gives some income to the people, it solves our financial problem and it will support your financially. In addition to that, I agree that bitcoin has a huge role in the world and I hope bitcoin will continue to help to many people.

[darkangel11]

If it has no role then it means money have no role as well. Bitcoin is money, it can be used to purchase goods and services and exchanged to other forms of money.
Does that look like something with no purpose to you? Once you grow up, OP, have some money to move around, and you decide to send it to someone located in a different part of the world, you'll start noticing this purpose.