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Author Topic: Bitcoin is useless so why high price?  (Read 4588 times)
Xioma
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February 18, 2018, 07:21:07 PM
 #161

At this point, it has a lot of hype behind it. Everyone knows it, it's the number one coin, so on.
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February 18, 2018, 07:35:53 PM
 #162

Bitcoin is very slow transaction and fee is rediculus then why people bother buying it or considering it. I have £130 of bitcoin and I want to move it and it is asking for £28 network fee. Why should people bother having it. I can't wait to get rid of it when the fee is low.

Bitcoin is a classic. It was the first trial of a cryptocurrency based on blockchain. And it succeed. Now there are better alternative coins with faster transaction speed and larger network capacity. But it will take time for them to start dominating crypto market.

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February 18, 2018, 07:36:18 PM
 #163

Bitcoin is great because it has worldwide recognition which is good for crypto in general. If you go on the street and ask people if they invested in ripple or ethereum, they would have no idea what you are talking about. Bitcoin is needed to ensure the blockchain goes mainstream, it is the only coin that can do it

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February 18, 2018, 07:54:44 PM
 #164

I don't think that Bitcoin is useless, because BTC is the father of all currency in Crypto markets. Although there are few coins that seems to have more potential for growth but still Bitcoin holds the number one position in terms of value.
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February 19, 2018, 12:09:35 AM
 #165

I don't think that Bitcoin is useless, because BTC is the father of all currency in Crypto markets. Although there are few coins that seems to have more potential for growth but still Bitcoin holds the number one position in terms of value.

Bitcoin has its purpose and as a digital currency, its very easy to send and received btc from anywhere int he world. Its becoming popular right now. Also, its the demand that determine the bitcoin prices. Bitcoin is a good alternative to remittances, as you have control over it, you can send it anytime wherever you are, quite anonymous and fast.

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February 21, 2018, 01:15:33 PM
 #166

How'd you say it's useless? It's the first cryptocurrency in the world and altcoin will never be invented if there's no bitcoin.
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February 21, 2018, 01:21:00 PM
 #167

Bitcoin useless?

What other coin besides eth can you freely convert to fiat?
What other coin can you actually use to purchase real life services and products?
What other coin has a proven history of success and still continues to grow?

And the last one, what other coin is the entire crypto market value based on?

While bitcoin doesn't scale well, your own personal problem is that you have so very little of it.
If you are serious about trading crypto, you can't just have a couple hundreds pounds invested and expect to get anywhere.
My advice would be to invest more or if you really are that anti bitcoin then move over to eth.

And if you think eth is too expensive then, well, good luck is all I can say.

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February 21, 2018, 01:24:42 PM
 #168

Bitcoin is really useful for some things, like to buy and sell at exchanges and as a reserve of value in many cases, it is just not that useful sometimes depending on the network.
Yeah you cannot say it useless for the trillion market cap can you imagine how large bitcoin is, it is like a GNP of small a nation, bitcoin is not a joke and being recognized as a treat to their economy . If it continue to prosper it even become more powerful than Us dollar. And because of its aggressiveness investors are flooding
Trying to buy that is why the value is high.


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February 21, 2018, 01:48:15 PM
 #169

Bitcoin is very slow transaction and fee is rediculus then why people bother buying it or considering it. I have £130 of bitcoin and I want to move it and it is asking for £28 network fee. Why should people bother having it. I can't wait to get rid of it when the fee is low.
its nor bitcoin whos useless,but its You..block chain is congested that time because of high value and lots of transactions have been goinh that time.so what would you expect?why you wanted to convern your funds that time?just because of HIGH PRICE RIGHT?so youre the one who wants to take advantage of the situation

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dificanovi
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February 21, 2018, 02:47:06 PM
 #170

Bitcoin is very slow transaction and fee is rediculus then why people bother buying it or considering it. I have £130 of bitcoin and I want to move it and it is asking for £28 network fee. Why should people bother having it. I can't wait to get rid of it when the fee is low.

people are racing to buy bitcoin because the profit from bitcoin is overwhelming. bitcoin many people enjoy because every year the price increases. bitcoin is a definite and promising crypto currency than any other coin. by earning a lot of bitcoin then they do not really consider the cost they will spend.

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February 21, 2018, 02:53:35 PM
 #171

Transaction fees are too high and network is slow.. there is also another big problem: mining bitcoin costs too much energy!
BUT, this is the first and most known crypto, so, for now, is still the "king".... but I think that in 2-3 years ETH will replace BTC in 1st place...
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February 22, 2018, 07:34:49 AM
 #172

How'd you say it's useless? It's the first cryptocurrency in the world and altcoin will never be invented if there's no bitcoin.
I believe that OP cannot give you any proper explanation for why bitcoin is useless. Only for the people who do not understand the complete system of bitcoin may call it useless. Bitcoin is the first decentralized momentary system which must be very new for all of us. The usefulness of bitcoin will be understood by everyone in coming years after getting familiar with the real applications of bitcoin system.
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February 22, 2018, 07:51:55 AM
 #173

Bitcoin is very slow transaction and fee is rediculus then why people bother buying it or considering it. I have £130 of bitcoin and I want to move it and it is asking for £28 network fee. Why should people bother having it. I can't wait to get rid of it when the fee is low.

It is the reason why you see cryptocurrency as you do now dude. Give respect to where its due.

Bitcoin is the only coin which has been tested globally and still proven until now. There were many kill attempt but as you can see, Bitcoin still reign as a king. Yes it is old, yes it is slow, yes it has outrageous fees, just spend more time in crypto and you will understand why Grin

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February 22, 2018, 08:08:58 AM
 #174

According to many experts, Bitcoin has failed on its way to becoming a currency for use in transactions. Bitcoin rates are at a high level because people treat it as a property to own, and when the exchange rate goes up, they will sell to make a profit. The future of the currency will be cryptocurrencies, but it will probably not be Bitcoin, but altcoins, which is Ethereum Smiley))

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February 22, 2018, 08:16:45 AM
 #175

Yes I agree that transaction cost with bitcoin is quite high, more so with transactions of low quantity. so better transact in big volumes so as not to feel the density of transaction costs. However, I disagree with you saying bitcoin is useless. The future is making it's way in a fast paced manner and overwhelmingly beneficial, and bitcoin is always with it.
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February 22, 2018, 08:25:40 AM
 #176

Although the bitcoin transaction costs are high, but the bitcoin is still the encryption money market leader, and the bitcoin is a kind of assets, each country and even ready to put the bitcoin as currency.

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February 22, 2018, 08:26:28 AM
 #177

The assumption is wrong first. Something that is useless won't trigger up. People are in need of it, as the demand is increasing so as is its price value. The transaction charge is high but the scalability problem can be improved by implementing a new bitcoin code which makes transactions potentially much more cheaper and faster.

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February 22, 2018, 08:28:49 AM
 #178

I wonder if OP is still around with his bitcoins that he couldn't wait to get rid off when the fee became low weeks ago. I wonder even if he would consider zero fee alts, there are quite a few around. Then I'd be extremely curious if he managed to find even one other user who would accept his alt, not to mention if he could find a merchant he could pay the alt to for a service or product.

Otherwise, he would truly have a "useless" crypto on hand.



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February 22, 2018, 09:22:09 AM
 #179

Bitcoin is very slow transaction and fee is rediculus then why people bother buying it or considering it. I have £130 of bitcoin and I want to move it and it is asking for £28 network fee. Why should people bother having it. I can't wait to get rid of it when the fee is low.
It means you have lack of education regarding bitcoin. Better do your own research before investing in any coin and please stop blaming he coin because of your lack of knowledge about a specific coin. It is your responsibility to make a research before  entering any investment.

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February 22, 2018, 10:22:07 AM
 #180

This is useless temporarily. If someone enters a good payment system, then bitcoin can be paid as usual money. And of course everybody wants to be rich))

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