Bitcoin has no role in real world

[aryaadikariyansyahsuwarto]

I never believed such an issue, it made me sick, the issue did not work for me. I will continue to be a bitcoin hunter, with the positive things I always do. Lazy as refreshing as you tell me, too much to say. so don't judge bitcoin is wrong.

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[EiKaGlaShPriSAThWEl]

Yes we may not literally hold in our hands but for me bitcoin has a very big role in my life. It made earn money at this young age wherein I can't be hired on a real job. Money that I can use to buy my needs.

[acener]

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 think it does have a role, because bitcoin already changed a lot of people's lives. As you know, bitcoin can be converted to fiat money and because of it's volatility, a lot of people were able to become rich because of investing bitcoin as early when it was very cheap.

[ongels]

If it has no role in real world, Then don't you ask why you are interested to discussed it further in the thread? What is also your purpose of joining this forum? Maybe you did not see how btc reflects to the mass. Right now there's a huge impact happen in our society,

[The Sceptical Chymist]

But sadly these are not real problems.

I used to be a member of the JREF forum, one for skeptics, and it's since closed.  There used to be a thread there on bitcoin, and some of the members used to say that bitcoin is a solution in search of a problem, and I kind of tend to agree with that to an extent.

On the other hand, it's a global currency and that's significant.  Banks and governments don't control it, and that's an extremely important feature.

It's true.  It's not like my life or my (physical) wallet was crying out for bitcoin in 2009.  I definitely prefer spending fiat than bitcoin.  I don't have relatives overseas who need money immediately.  It's not like I needed an irreversible, protection-less form of money to buy my daily living items.  But it's an asset that performs on the markets like stocks do, and that appeals to me.  People all over the globe--most of them shitposters here--use it, and everyone is, for some reason, chasing the same bitcoin.  That's also appealing.  So it does have a use, but no, it's not necessary.

And it does have a role.  You can buy stuff with it, and you can make money off of it.

[e-coinomist]

If it has no role in real world, Then don't you ask why you are interested to discussed it further in the thread? What is also your purpose of joining this forum? Maybe you did not see how btc reflects to the mass. Right now there's a huge impact happen in our society,

+1
... about the need to discuss, if needless.
About the current impact I think we are dreaming about everyday purchases and that's miles away. Even moving further, since conventional methods rule the whole area without any discruptions happening.
Current lever seems to be the outer rims, where classical money doesn't rule. Shady stuff even, perhaps. But mostly the area of developing bussiness ideas that couldn't make it so far. Group collaboration, worldwide, paid in an artificial cyber currency. Coding for Bitcoins. Writing (I'm doing that right now). Design work, hiring employees around the world. Where ever intellectual property gets generated, paying tasks in bitcoin could disrupt a lot of old structures.

[peterthegreat]

Bitcoin does have a role in the real world because people  use it everyday. They use it for saving and they use it for spending. Investing even or accepting it for goods and services, etc.

[lucifochrome]

My friend you are entitled to your own opinion, you must have done some research regarding this. If what you mean is the role of bitcoin in the real world having it physically present like you could touch it or something then that is not the role of bitcoin there are other currency, real world currency. Bitcoin's role is somewhere on the digital part that is why it is a digital currency, if bitcoin does not have a role then why do some people use it and some are getting interested in it. Financial analysts, bankers, big time investors, law makers, entrepreneurs etc. these are just the common folk who patronize bitcoin. If bitcoin is of no interest in the real world then these guys must be some idiot who continuously using bitcoin. Why do they use it? Simply because transaction is much faster for some people time is money and they dont want to waste their time to go to the bank having their payment to be transferred in 2-3 business days. That's where bitcoin comes in. So realistically speaking bitcoin does have a role in the real world.

[Aventhe]

Well, yes and no.

Bitcoin is a new and emerging trend of technology. It will still be many years before it can function as a fully operational currency that many more businesses will accept. I think it has real potential and should not be regarded as a 'scam' or 'fraud' - as many banks have labelled it.

[szpalata]

What role apart from physical handling has fiats over Bitcoin in the real world? They are just the same but Bitcoin is even better because it can do more than any fiat could everyone dream of doing. So OP please come again!

[MOTHIT]

I would like to inform you that if Bitcoin doesn't have role in real life you might not ask this question in this forum and I wouldn't reply to this.

This question itself explain that Bitcoin has a big role in real life.

Bitcoin become bread earning and lots of people depend on Bitcoin only.

[andaresta]

when bitcoin has no real-world role why bitcoin exists?
and now I still enjoy the bitcoin given to me, because bitcoin is real.

[spadormie]

Then why you are still here if you are here to stand that bitcoin has no role in this world.  . Well if you are not seeing the importance of bitcoin, probably you may realize it in the future when all people will use bitcoin as a primary source of exchange. Like buying something with the use of bitcoin. Who knows, bitcoin might be the fiat money in the future. Bitcoin is the greatest thing that happened in this world . If you will look in its purpose in this world you'll realize its importance. Probably you are not just seeing the importance just because you got rekt on some of your investments in cryptocurrency.

[Collinslevi]

Is Bitcoin an innovative response to facilitate meaningful commerce or simply a designer currency for the criminally inclined? For Bitcoin to function as a currency, it has to be trusted as an honest means for transacting business. Its reputation needs to be rock solid. Since its inception, Bitcoin has been a decentralized experiment with a morphing purpose. In 2009, in response to the Great Recession, Bitcoin was seen as a way to take back control from irresponsible central bankers, reallocating power of currency to the people through computer code and a decentralized payment system. However, creating an unregulated and untraceable currency also made it the currency of choice for those engaged in illicit activities.

[dacsee]

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.

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.

We don't believe this, we feel that there are many potential uses for blockchain tech that go far beyond the simple currency.

[djsugar]

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.

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.

We don't believe this, we feel that there are many potential uses for blockchain tech that go far beyond the simple currency.

Blockchain and Bitcoin are two different things. Bitcoin has indeed given this world the blockchain tech. But it can very well exists without Bitcoin. Blockchain is indeed revolution, so does Bitcoin. But Bitcoin need to have real utility to survive as a currency which it lacks as for now. The condition might change in future but right it is all demand that is sustaining Bitcoin price and only demand as a price driving factor leads to bubble in long run.

[leonix007]

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.

Well, I guess you have an Idea what updates are coming on our way to Bitcoin.

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.

You mislead the purpose of blockchain, this is not something to do with Greedy government and Authorities, Respect is utmost to people who disrupted financial institutions Like Nakamoto.

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.

O really, I am wondering people embracing it, It is like, buying the bad app and usually use it, seems its not bad anyways.

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.

That's how bitcoin works, that is why we love it, we are on own banks, no government attachments.

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.

Oh Look, haven't you heard of what you called " Small transaction Fees".

There are people somewhat, hate Bitcoin.

Cheers.

[Shreek]

it seems like your statement needs clarification ,,, !! or maybe you do not understand what bitcoin is or you know bitcoin bit ,,, in this case i can only give you advice ,, try you read and understand bitcoin ,,,

[skjus]

If someone does not understand something, this does not mean that this is something bad, or not right. It says only about a lack of understanding or knowledge in a particular field. Bitcoin, without a doubt, has an effect on the lives of many people.

[domgamer]

Right now it has no real value in real world but we didn't know in the future, why not!. The possibility is really big as long as many believes in it