Bitcoin has no role in real world

[iram1011]

Really, Bitcoin don't have any use in real world?

Yesterday, I was reading a report of cryptocurrencies boom in India. There I read that Bitcoin can save billions of dollars in remittance fee that overseas Indians pay to US firms for money transfer back home. India pay $5-7 billion in remittance fee alone every year. It is a fundamental technology and would change society sooner than later.

[pearlmen]

I really find it hard to believe how people are trying so hard to discredit bitcoin with several writings and arguments but what they have successfully done is to just make the faith in it increases and I don't see that stopping. If Governments, personalities, CEOs can come against bitcoin even to the point of using the forces of the law to achieve such purpose, yet people are still not convinced, then I don't know what else will work.

[denny27]

I don't think at all like that, obviously at this time bitcoin really has a role in the real world for many people who using it. Let's see, how many peoples has already made great profits from bitcoin that can change their lives towards a better life. Bitcoin does have an unreal character, but the incomes from bitcoin is really real in the real world and can provide to be good profitable.

[kafiddrhman]

even though bitcoin is a virtual currency category but its functionality and benefits are noticeable for all of its users who have participated in bitcoin, even of course many bitcoin users have gained significant changes in their economic recovery for better phases, even the bitcoin role has been able to reducing unemployment in many countries including in my country.

[jatin729]

I think Bitcoin is playing important role in modern world because people are more interested in bitcoin earning.
because Some of websites start accepting bitcoin as payment and also govts. showing interest in bitcoins like japan legalize bitcoins.

[hitrawal91]

Sorry to say but i don't agree with you sir, People including me are Learning some valuable knowledge and side by side they are also earning a good income which they are expecting from their daily jobs. The Bitcoin trading has been increased to a new record high limits on Price and volume basis.And Bitcoin is the best payment gateway for all the people in the world as we can transfer money from one people to another with out even disclosing our details to them by paying less taxes and commissions. If you see in this forum Bitcoin is playing its major role in paying the members of Signature and Bounty campaigns, which in-turn is beneficial to both the giver and taker.

[bettercrypto]

Probably OP does not really understand the function of Bitcoin.  Bitcoin enable the unbanked to transact online, isn't that real world role?  If a person does not have a bank account, he cannot transact or buy and sell online.  But with bitcoin, it enable the transfer of money without the use of a ban thus making it easier for people to move their money anywhere  in the world.

[rausvi15]

I don't agree with you mate, more and more people are adopting the bitcoins by each passing day. The demand for the bitcoins is constant and it would be continue to increase in the future as well. Many service providers have already started to accept the bitcoins as a payment; many countries are also in the process to regularize the bitcoins. It has the required potential to became a popular and universally adopted currency in the future.

[djsugar]

I don't agree with you mate, more and more people are adopting the bitcoins by each passing day. The demand for the bitcoins is constant and it would be continue to increase in the future as well. Many service providers have already started to accept the bitcoins as a payment; many countries are also in the process to regularize the bitcoins. It has the required potential to became a popular and universally adopted currency in the future.

Why people are adopting Bitcoin increasingly?

The reason is simple because it is deflationary and hence its value will increase with time. Thus, a nice investment asset. Is that a real use? Of course, not. The price is rising because of increasing demand. That demand is rising because people want to double their money through Bitcoin investment. Isn't this developing a kind of bubble. Once people get some other better asset to invest and that will definitely happen with advent of technology, people will shift to it and demand will decrease and so does the price. I agree in next 10 years, nothing of that sort gonna happen, but it will. Unless Bitcoin develop some real use that is unbeatable, it will not sustain for longer.

[raven7886]

I am really unable to understand the topic. Is the Op trying to say that bitcoiners do not live on this planet or they don't exist ?

This forum is also a dream and we all are part of that dream. I thought we were real and I am living. Like you, I also have earned a lot from bitcoins and it has helped in many financial crisis. Maybe all that was a dream also.

We are real and bitcoin is playing a significant role in our lives.

[Lyancy001]

You may not notice or feel it, but Bitcoin is starting to startle the world. So, not long for now, it will definitely going to have a role in our world.

[ajmapalo22]

You're right we cannot see or touch botcoin but it does not mean it has no role in real world in fact bitcoin has became my valuable asset and gives me an opportunity in becoming financial independent. I use bitcoin in paying some of my bills, I was able to buy some stuff using my bitcoin so it really means a lot to me and I'm sure many will agree to me and have the same idea about bitcoin

[Za1n]

For one, what is reality? To assert that something has no use in the real world, one has to first ask what constituents the term real?

By your post I assume to you it means the current state of affairs. This is a pretty narrow and not very enlightened way of looking at it though. If people lived by your model of utility in a "real" world we would probably all still be using stick and stones.

No, the world and thus our reality is instead brought about by our thoughts, dreams, inspirations, aspirations which all lead to better ways to do things, better tools and inventions to help us mold and create our environment. Throughout history people have resisted change and new technologies often citing they had no practical use in this perceived real world of theirs. Well sorry to burst your illusions, but the world (thus reality) does not stand still and it will change and what you deem useful today may soon become obsolete as progress marches on.

[djsugar]

For one, what is reality? To assert that something has no use in the real world, one has to first ask what constituents the term real?

By your post I assume to you it means the current state of affairs. This is a pretty narrow and not very enlightened way of looking at it though. If people lived by your model of utility in a "real" world we would probably all still be using stick and stones.

No, the world and thus our reality is instead brought about by our thoughts, dreams, inspirations, aspirations which all lead to better ways to do things, better tools and inventions to help us mold and create our environment. Throughout history people have resisted change and new technologies often citing they had no practical use in this perceived real world of theirs. Well sorry to burst your illusions, but the world (thus reality) does not stand still and it will change and what you deem useful today may soon become obsolete as progress marches on.

So, you mean with advent of technology, we will find some better and real uses of Bitcoin or cryptocurrencies in general. But what if with advent of technology, a new form of monetary system or currency develops that is better than cryptocurrencies? Then demand will naturally shift. What will sustain the value of Bitcoin when there is no demand? Can Bitcoin sustain itself without demand? This is the point where real utility and intrinsic value come in play. Unless bitcoin has those, I don't think Bitcoin will survive more than 2-3 decades if possible.

[chichan13]

For me bitcoin has a good role in the real world, because the criptocurrencies are the future
You need to trust more on them

Well, I do believe that bitcoin has a big role in the real support like it helps many people to gain income and money. In addition to that,  if you must believe in bitcoin and you should believe that it has huge role in our real world because it help many people to become rich.

[megynacuna]

For me bitcoin has a good role in the real world, because the criptocurrencies are the future
You need to trust more on them

Well, I do believe that bitcoin has a big role in the real support like it helps many people to gain income and money. In addition to that,  if you must believe in bitcoin and you should believe that it has huge role in our real world because it help many people to become rich.

Same here, it plays significant roles in our daily real world lives just like the fiat currencies except they bitcoin is virtual and don't have physicality. But it doesn't make it loose touch with the real world because whatever fiats are doing in the real world Bitcoin is doing same.

[bubblebit]

I think he’s is good in finding too much of how or what the negative aspect bitcoin has but forget how it helped lot of users and traders who are ordinary rather than rich. Bitcoin has a big role to me a much bigger than any dollars or peso that I have. It is more than I owned, more than the banks and the government  do, I don’t care about how the government look at it or they won’t recognised it and i don’t care either of fees, why? Does in real world there is free?
Even a single cents is taxable.

[nejibens]

I don't think so. Bitcoin indeed have a great role in the real life, because it's used to make trades around the world by a large community and also it is changing lives of so many people worldwide.
Bitcoin keep increasing and growing up daily, and getting more people using it actually

[Bezdonov Art]

Bitcoin is a technological bomb. And its explosion is already underway. A little time will pass and the whole world will be covered by it.

[Merovius]

Actually bitcoin does have a role in some real-world applications. For example it can be used to move significant amounts of money internationally for lower fees and less time than a typical international bank or ACH transfer. It can also be used for remittance payments between friends/family members across national borders in situations where one or more of the affected parties gets stuck in a country with oppressive capital controls and/or a local currency that is rapidly losing value and trust (hyperinflation scenario). Of course as many people have noticed (and often decry) bitcoin can also be used as a speculative vehicle for people hoping to make big gains with well-timed trades of the BTC currency, hopefully with money they can afford to lose. In this sense it plays the same kind of role that many small stocks and high yield bonds do.