Bitcoin has no role in real world

[BrockHunter]

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.

You have been thinking too much about it and in the negative direction I don't like this, It has no role in the real world, but its influence on the real world is so great that investors are interested in. No one investor wants to invest in something that does not affect the reality.

Lets settle on a truce , I dont trust that bitcoin has no part in reality since when individuals realizes that bitcoin has a rising value they progress toward becoming pulled in utilizing it as theyre wellspring of wage and not just that, they additionally utilized it for gaining more benefits and its like a win-win to everybody.

[AdamCooper]

I watched a documentary last night about cashless societies. From I realised that bitcoin can not replace fiat as an alternative currency, because bitcoin's value relies on fiat. If it wasn't worth $4000 it would be worthless, because its the fiat number that gives it value.

[khaled0111]

I am sorry to tell you that you are wrong.
Many people became so rich because of Bitcoin and they still investig in cryptocurrency and even those who are famous and already rich started to invest in Bitcoin market because they know how Bitcoin is changing the financial world.
Another point, if you presume that Bitcoin have no effect, why governments are making such effort to control it?

[ubeng07]

I am sorry to tell you that you are wrong.
Many people became so rich because of Bitcoin and they still investig in cryptocurrency and even those who are famous and already rich started to invest in Bitcoin market because they know how Bitcoin is changing the financial world.
Another point, if you presume that Bitcoin have no effect, why governments are making such effort to control it?

yes exactly that's right bitcoin has a such a great affect in real world because it changes everyone life just by investing the bitcoin that they are invest for makes a lot of profit that they want to have than saving it in a bank so for me nothing is impossible with bitcoin. Government see the potential of it so that's why they control it.

[B!llyB0y]

technically speaking YES!, Bitcoin has no role in the real world if you leave in an isolated island with no electricity and internet. But if you leave in an urban city bitcoins are precious like gold You can make a living for just doing Bitcoins. It can solve your financial problems and it can provide our daily bread.

[Restmand]

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 we just accept the truth, we know that the bitcoin has no role in the real world because bitcoin is made in the online that will used only for the online marketing and for black market only.even though bitcoin has really big help in our life in terms of earning and exchanging, bitcoin is bitcoin. its just have the role on the internet but if you'll exchange it into the alternative coins or in your money country bitcoin is disappear because you exchange your bitcoin in your money country that's why the bitcoin has no role in the real world

[PonYabody!]

technically speaking YES!, Bitcoin has no role in the real world if you leave in an isolated island with no electricity and internet. But if you leave in an urban city bitcoins are precious like gold You can make a living for just doing Bitcoins. It can solve your financial problems and it can provide our daily bread.

I agreed! This is a case to case basis. It depends on what area your at. Also bitcoins are useless if the electricity and internet are shutdown. But that's not the point. Bitcoin is one of my source of income and I treated it was a good thing that I have. All of us are leaning on Bitcoin for our daily lives.

[1Referee]

technically speaking YES!, Bitcoin has no role in the real world if you leave in an isolated island with no electricity and internet. But if you leave in an urban city bitcoins are precious like gold You can make a living for just doing Bitcoins. It can solve your financial problems and it can provide our daily bread.

The people you are talking about are an extreme minority - even in third world countries there is a way for people to make use of the internet in whatever form or shape. Don't forget that the only thing you need is your private key(s) containing all your Bitcoin wealth to utilize Bitcoin. It can be stored on a piece of paper, or if you prefer a more solid/durable form of storage, you can have them engraved in Gold or whatever piece of metal. These private keys can give you access to billions of wealth, and that without anyone knowing that. It takes no space or whatever, it doesn't require you to depend on any financial service to exist, etc. Not everything with Bitcoin has to do with earning money.

[jaocoincrypto18]

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.

Where did you get this links? Be sure that this not came from JP Morgan blogs in which bitcoin was so much criticize like this one. Bitcoin is already established a big role for the mankind and that is to make life easier and an equal opportunities to all especially for the poor. Before only the rich can be able to earn big because of their big capital but now thru bitcoin everybody is equal as long as you work hard.

[stunvn]

I use bitcoin, litecoin to transfer money and avoid taxes.

It does has a role in real world mate  

[Zicadis]

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.

People who get confused about this need to be corrected with correct information, for a start bitcoin is both an asset and a currency...simple as that.

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.

totally fud that bitcoin has no real world affairs I think more research is needed to present facts to the public and not uncertainty or fear and bitcoin main use is removal of middlemen and be used for cost-effective transaction especially for high amounts of money

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.

This technology is barely 10years old and most govts are still trying to understand it which is why  regulatory frameworks are not in full force and if you want to experience the speed and affordable fees of bitcoin talk of remitting a million dollars in fiat and compare it to bitcoin

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.

The govt is free to jump on board just as we saw with whats happening in China and when your talk of visibility isnt the public ledger visible enough? Because anybody is free to access tx info on the blockchain.

[CoffeeForMe]

I don't agree with your question. Bitcoin have many role to this world, because they help to change many people daily life or their life style. But many people are not agree with this because they not believe what bitcoin gamer's do.

[Granxis]

technically speaking YES!, Bitcoin has no role in the real world if you leave in an isolated island with no electricity and internet. But if you leave in an urban city bitcoins are precious like gold You can make a living for just doing Bitcoins. It can solve your financial problems and it can provide our daily bread.

If you want a physical money, these funds take up space in your wallet, can fall from your pocket, your money may lose its validity. we are on this forum because we have seen these problems.

[yoseph]

I watched a documentary last night about cashless societies. From I realised that bitcoin can not replace fiat as an alternative currency, because bitcoin's value relies on fiat. If it wasn't worth $4000 it would be worthless, because its the fiat number that gives it value.

I certainly agree, its only through the bitcoin equivalence in fiat that we can see how valuable bitcoin really is, fiat will continue to be the the most used currency until the various governments of the world decides to make their own cryptocurrency for their specific country that will undoubtedly bring an end to fiat.

[Lancusters]

I don't agree that bitcoin has no role in the world. Just you are too rush things. Bitcoin is still too young to defeat such heavyweights as the us dollar. But bitcoin has managed to unite like-minded people around the world. If they work together it is difficult even to list all the prospects which they opened.

[CaesarCipher]

The fact that there is strong demand for it suggests that it does in fact have a role to play in the real world.

Bitcoin provides almost all of the same benefits as gold, and consequently the same reasons to hold it, but with some added advantages.

[Karimeen]

       Bitcoins role in the real world is increasing day by day and I totally disagree  with the perception that the bitcoin has no role  in the real world.Its operational feasibility in world wide is outstanding and its main features are a decentralised one and only limited quantity of bitcoins are available in the market.Since it is a social network no government can control it. Though it has started the cryptocurrency in 2009 but its real growth has started in 2017.  The block chain technology maintains its electronic ledger.From the current market volume of transaction ,high speculation  the bitcoin demand is increasing day by day and  hence the price also shooting up and the bitcoins role is establishing worldwide.

[magz]

accepting change has always been hard. whenever something new comes along that changes a lot of things about the old ways that people are used to, they are known to go out of their ways to defy it. to bring so much logic and argument to try and convince (most of all) themselves that this change is not good. call the change "buzz words" just because they can not see the revolution.

but the change happens no matter if some people accept it or not.

Correct. We people having a hard time to change what we are used to, that is why most of the people when they heard something new that they didn't know about, they just ignore it. I do not believe Bitcoin doesn't have a role in this real world. Whether it is a speculative asset or a digital currency, Bitcoin has its role. And we believers know that.

[setupbounds]

not the bitcoin that plays but we as bitcoin users who have to enlarge his name.

Yeah it is also true that the value of the bitcoin is making more pumps just because it is being use by all of the people in my country so we cannot say that the importance of the bitcoin will be ever low and it will not increase any farther. So the bitcoin and the users both are playing the very important role in the income of each other. Both are important for each other.

Bitcoin has users because it deserves users. It is being supported by millions because it deserves that support. Due to this digital currency, we all have now a stable life with a good capital. I am not saying that public support is not important, it is for making bitcoin famous and strong but nobody would have cared if it was some useless invention.

[Miles123]

It is not true because bitcoin has a big role in our world. For example, it can help in our financial needs and can help us to earn money. But not everyone are using bitcoin so they can't really know how important it is. If you don't believe that bitcoin has its own role in our real world, that your choice.