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Author Topic: Bitcoin is useless so why high price?  (Read 4588 times)
yanlei2002
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May 13, 2018, 04:05:11 PM
 #261

it is now it costs so much, I am sure that over time the price will fall. it is already falling in fact and I think bitcoin may die

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MFY151
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May 13, 2018, 04:20:51 PM
 #262

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.

Sad to say it is really disappointing to see how service fees become so high which renders bitcoin to be used as a currency for regular transactions yet again it is far from being useless, its price is backed up by people around the world who believed it to be a great investment opportunity though its system have become harsh for small time users I still find bitcoin's value worthy.

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May 13, 2018, 04:21:46 PM
 #263

Lols calling Bitcoin is useless then whats the reason of holding Bitcoin and staying here. If Bitcoin and cryptos are useless, then why some banks are using Ripple? Why Facebook and amazon plans of making their own crypto?
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May 13, 2018, 05:04:06 PM
 #264

I also wonder why the prices are incredibly high only on bitcoin. but I like it when I see a high price tag for bitcoin

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May 13, 2018, 05:17:46 PM
 #265

for me, the mystery is why bitcoin is so expensive. but it seems to me that the price for it is absolutely justified, because we get the final profit and such a high price is very profitable for us in any case
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May 13, 2018, 05:26:08 PM
 #266

for me, the mystery is why bitcoin is so expensive. but it seems to me that the price for it is absolutely justified, because we get the final profit and such a high price is very profitable for us in any case
My withdrawal of Bitcoin for each user is unequivocal, because it is Bitcoin that makes it possible to earn good money. That's just a long perspective, you can not give their money to Bitcoin investments, because I suspect that this is a soap bubble and its high price is unrealistic.

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May 13, 2018, 05:26:52 PM
 #267

Because Bitcoin's network is congested, all cryptocurrencies are made to make other cryptocurrencies valuable. If Bitcoin doesn't have these shortcomings, I don't think there will be Ethereum.
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May 13, 2018, 05:36:25 PM
 #268

But this is not an indicator of uselessness, it is a drawback. It can be funny. Because of the desire to save a couple of tens of pounds on a transaction, you can lose more on the course.
deredevil
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May 13, 2018, 05:58:25 PM
 #269

I think bitcoin has a system, technology, and skill that is quite reliable, which is not owned by any other coin. Especially with the expertise possessed by bitcoin that is able to control the growth of altcoins. With the price is very fluctuating, and can provide a profit that folded, making a lot of people are tempted to have it. But because bitcoin prices are so expensive, so many people feel overwhelmed by the price, then they prefer to buy altcoins that cost far below the bitcoin price.

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May 13, 2018, 07:38:54 PM
 #270

Ever heard of Lightning technology? A lot of developers are currently working on the issue of bitcoin transaction speed and fees. Once they are done with it, transactions will become fast and cheap again. 
dewi91
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May 13, 2018, 08:05:58 PM
 #271

indeed until now we can't use bitcoin in daily rountin transaction yet but it's not mean bitcoin is useless because bitcoin is usefull for other things such as investment and trading. that is the reason why bitcoin price is increasing. a lot of people are really interested about bitcoin because it is really profitable.
popotao93
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May 15, 2018, 02:47:58 AM
 #272

People buy bitcoin not for payments. They just invest in bitcoin and store their investments in it. For translations, there are many altcoys with fast transactions and an inexpensive commission for the transfer.
Hazaki
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May 16, 2018, 08:01:55 AM
 #273

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.

So you are considering a currency that has a 140 Billion dollars of market cap , that has achieved almost the double of that 2 months ago and that has users from all over the globe as a useless coin ??
People has already made fortunes out of it , and who ever was futuristic enough and saw potential in bitcoin when it was valued at less than a dollar per coin is now a multi millionaire because of that .
The current value of bitcoin at the moment is estimated as the same when bitcoin was at it's start but on a much larger scale , and whoever buy it can just hold it and make a fortune out of it .
As for the network it is more and more getting clearer and the congestion is going away especially after so many people are showing support to the new segwitted adresses .
And no matter how things can get messy  , you can't rate a coin that has been listed into the top 30 list of coins around the world and that has been compared to safe heaven assets such as gold and judge it as a "useless coin" .
gezhid008
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May 16, 2018, 08:04:28 AM
 #274

At first, I thought bitcoin was a useless and deceitful thing. Later, I thought it was a tool for speculation. Later, I thought it was a valuable invention.

Bitcoin is still a good investment, and of course it can't be used for everyday use.
PayneCharity
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May 16, 2018, 08:06:29 AM
 #275

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.
Bitcoins are expensive because Bitcoins can be used to trade Altcoins. Or you can understand that this is the crowd effect. If you see more people buy BTC, you will also buy BTC. That makes the BTC price increase
tangsanzang7
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May 16, 2018, 08:29:19 AM
 #276

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.
You don't know bitcoin to say it's useless.
hoanghoatham04
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May 16, 2018, 08:32:07 AM
 #277

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.
As I think it is a movement. If someone is investing in Bitcoin and they have more money. Everyone will be curious and learn to invest in Bitcoin. Due to the high demand, the price of Bitcoin will have to increase

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May 16, 2018, 08:33:52 AM
 #278

Yes, it is true that one of the disadvantages of Bitcoin is the high fees and low transaction. Some altcoins have better than this.
However, I don't think so that Bitcoin is useless. In fact, BTC still holds its power as the king of cryptocurrency. This is because it still holds the good concept of blockchain technology and many people have invested in this. This is a worthy investment.
cryptomoon1005
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May 16, 2018, 08:38:00 AM
 #279

Bitcoin of today is useless because of slow speed and high transaction fees..

But do you know that TCP/IP of today had some serious technical issues with security back when the technology was under development (just where bitcoin is today)

Check this the below research paper on TCP / IP that highlights the security problems in the TCP/IP protocol suite (written around 15 years ago), where the author focuses on protocol level issues, rather than the implementation flaws... The paper "Security problems in the TCP/IP Protocol Suite" was originally published in Computer Communications Review, Vol. 19, No. 2, in April, 1989.

http://citeseerx.ist.psu.edu/viewdoc/download?doi=10.1.1.531.4314&rep=rep1&type=pdf


If you give this a read, you will never call BITCOIN useless:P

Bitcoin of today has several issues with speed, number of transactions and the transaction fees, BUT price is high because the world still wants BITCOIN TO BE THE REAL KING OF CRYPTOS in future, and are putting their money for the FUTURE BITCOIN
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May 16, 2018, 08:39:20 AM
 #280

Since bitcoin has such a high price, it shows that bitcoin is not useless, the biggest effect is investment value, and many people who invest early in bitcoin have achieved wealth freedom.
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