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Author Topic: Bitcoin is useless so why high price?  (Read 4588 times)
Jako0203
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January 24, 2018, 07:11:49 AM
 #81

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 as you can see, is really high. But you can't say its useless. Many investors are using this kind of banking for a modernize economy. Its nice to see though, its very useful nowdays. Many wants to invest and grow their own ways! Thats the thing bitcoin isn't something you can say useless. Keep urself up!
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usechain
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January 24, 2018, 07:17:54 AM
 #82

I do not think bitcoin is useless. Bitcoin's price is so high because of the high cost of bitcoin, the price of BTC from scratch to the highest equivalent of an ounce of gold, though speculative and bubble-forming, but the price Long-term fluctuations around the value of the underlying source of bitcoin price is the value of bitcoin, the value comes from the use of bitcoin has many uses, so this is the value of bitcoin.
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January 24, 2018, 07:27:33 AM
 #83

The OP thinks it might be because he just used Bitcoin. Do not know in detail how Bitcoin works. Indeed Bitcoin currently has a high fee but that does not mean Bitcoin is useless. I think the problem of the high fee can be fixed later.
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January 24, 2018, 07:28:39 AM
 #84

i think bitcoin its not useless because bitcoin have a high price value in cryptocurrency even its unpredictable most of people use it

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January 24, 2018, 07:33:34 AM
 #85

I don't think Bitcoin is useless,as you can see without bitcoin all of this upcoming projects are nothing.It maybe have low transaction and high fees but at the moment this is the useful currency in crypto world.I believe that someday it will be use in our society as use for payments.
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January 24, 2018, 07:34:33 AM
 #86

Bitcoin isn't useless. Problem with bitcoin lies in its speed. It is very secure and probably best in stability. But its speed is so annoying now, I don't use it in my transactions anymore. I am bored.

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January 24, 2018, 10:30:10 AM
 #87

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.

The thing is bitcoin's price is volatile and it is not always low, and what if the price goes higher then you will regret selling it at a very low price. That's why it is really ideal to hold onto it until the price goes back up, that way you can earn more than what you have spent in buying it. So, you still need to learn more about bitcoin.

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Jarx
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January 24, 2018, 10:38:20 AM
 #88

Why is bitcoin useless?
Bitcoin has become a convenient way to transfer assets between countries, and bitcoin, like gold has its value. It's not useless.

It's useless due to high price (some other coins are much more flexible and useful for a smal transactions), speed of the transaction and the extremely high transaction fee.
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January 24, 2018, 11:29:45 AM
 #89

I think it's not. For now bitcoin has been decreasing but the future of bitcoin is bright.
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January 24, 2018, 11:33:34 AM
 #90

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 was a pioneer. And still gets profit from this fact. Plus, he has the most biggest decentralization and many people agree to such fees just to be sure of the safety of the funds.

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January 24, 2018, 11:42:38 AM
 #91

Allow me to disagree with you. Bitcoin is gold in the market of crypto-currencies. It serves to accumulate and store its assets. I agree that now it is not very profitable to do tarnzaktsii in bitcoin. But for these purposes there are altcoyins. Although the technology bitcoin does not stand still.

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January 24, 2018, 11:54:31 AM
 #92

Bitcoin is not useless . Even transactions become much cheaper and faster from the last week . But main btc feature is that he was the first crypto currency . Bitcoin was a pioneer and it attracts people from all over the world to invest in crypto , it is a brand .

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January 24, 2018, 12:15:10 PM
 #93

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 fees is really high, but I don't agree that this is useless because I believe in the future of every cryptocurrency and bitcoin is one of them. If you really think bitcoin is nothing then stop holding on it. Bitcoin will be better in 2018 and people who sold it on panic will surely buy back.

That's right. Firstly, I don't agree that it's useful, in fact, it is so useful in many different facets of the trade and market industry that it brings forth so many promising developments that could really change the market for the better. It offers a new way of dealing and transacting with a new technology that has never been seen before. It is not like any other currency that has been around in the market. Its quick rise is an indication that it is something useful, which contributes to the idea why it commands a very high price point. It's potential and marketability are really off the charts, which urges people to actually support it even more.
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January 24, 2018, 12:18:26 PM
 #94

Price and usefulness are two different things. Bitcoin is useful as a good tool of investment or a good asset. But its use as a currency is almost negligible. Bitcoin is not at all a useless thing, its currency of future. Its unique features made it popular so far. But it needs some regulations. Price of any currency is determined by the flow of demand and supply. Bitcoin`s supply is restricted to 21million coins at the time of its introduction. But its demand is growing continuously. This imbalanced demand and supply situation is pushing its price up.
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January 25, 2018, 05:36:52 AM
 #95

May be it is useless for you but it never useless for thousands of people who are holding bitcoin and getting decent earnings. it is the base currency of crypto market if bitcoin was not there then there was no existence of any altcoins.

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cryptosifu
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January 25, 2018, 05:53:02 AM
 #96

This useless thing you called bitcoin has made many people wealthy.  Transaction fees maybe high but many people are willing to pay it.  Take a look at this link to see transactions flowing in every second.  https://blockchain.info/new-transactions
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January 25, 2018, 06:05:21 AM
 #97

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 the first cryptocurrency and for this reason it is te most expensive!
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January 25, 2018, 06:09:37 AM
 #98

Bitcoin is the father of all coins and with lightning network implementation coming soon, your question now should be why we need so many alt coin to perform similar function (like BCH, LTC and so on)

BTW, the transaction fee now drop to around USD$1.xx, time for bitcoin usage to fly...
tahmad
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January 25, 2018, 06:12:51 AM
 #99

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's about trust and the decentralized. A lot of people trust that bitcoin will grow up, and trust that bitcoin not controlled by a party.
And about the slow transaction and high fees, it's because the higher traffic and the increased value of bitcoin.
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January 25, 2018, 06:31:38 AM
 #100

Bitcoin is the father of all coins and with lightning network implementation coming soon, your question now should be why we need so many alt coin to perform similar function (like BCH, LTC and so on)

BTW, the transaction fee now drop to around USD$1.xx, time for bitcoin usage to fly...
Good point. Looks like op underestimates the potential of the king of the crypto world. I do realize that the current transaction fees and confirmation time when it comes to bitcoin is annoying and expensive sometimes, but this is only a temporary problem. The upcoming integration of the lightning network will help solve these problems to a large extent which is something many people fail to think about.

Also, I advise people to use segwit wallets to store their bitcoins which will further help alleviate these problems to an extent. I am currently using a segwit wallet and an happy with the confirmation time and transaction fees.

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