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Author Topic: Bitcoin is useless so why high price?  (Read 4588 times)
chamika888
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October 13, 2018, 04:19:29 PM
 #801

The blockchain economy is up and coming, in some shape. Little uncertainty remains that we will in the end push toward a world in which the vast majority of our exchanges will be handled on the blockchain, and we will, after some time, utilize digital currency for our day by day exchanges. What stays to be seen is whether bitcoin or a contender will be that digital money.
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October 13, 2018, 04:26:22 PM
 #802

Bitcoin has a very common name and many people confuse all the crypto with just Bitcoin. Very less people know about the other alcoins
That is why Bitcoin will be the most useful coin. Most people don't know how to use any Altcoin because it's so complicated.

 
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Oltort
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October 13, 2018, 04:29:08 PM
 #803

BTC is the first generation crypto that had a promising technology for the 2010 year. Right now this market evolved in something more interesting. we are now seeing 4th generation of crypto in development. But without BTC it couldnt be happened.
Bitcoin been around longer than that though....You are correct, the coin did changed how people purchase and sell things. That is part of the reason why it is expensive.
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October 14, 2018, 10:31:07 PM
 #804

The question has an answer. Useless things can not be expensive, especially in the long term. Bitcoin is almost 10 years old and its value is constantly growing (of course, there are UPS and downs, as in all financial markets).

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October 21, 2018, 10:54:48 PM
 #805

the high price is that this coin is the first of its kind, it is the main tool for all cryptocurrencies, and therefore it is in the first places, most traders have this coin and many trade this coin every day, so the price is high
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October 21, 2018, 11:25:07 PM
 #806

I don't agree with you... Bitcoin having high transaction fee doesn't make it a useless coin if you really understand what Bitcoin is in details you won't say it  a useless coin. Moreover it the mother to all other coin, Bitcoin is the source you can't just forget about the source. It more reliable unlike the Altcoin.
Tahdayi
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October 21, 2018, 11:52:14 PM
 #807

Well I do not agree , bitcoin is certainly the first of all cryptocurrency said to us all what we have now , so I think we should only store bitcoin due to the fact that he's the real future!

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October 22, 2018, 01:16:39 AM
 #808

I don't think Bitcoin is useless. It is used online for value transfer (no chargebacks), be it person to person or buying/selling from a company.  It is also used to buy other alternative coins (altcoins). Also, it is used as an asset/investment (is secure). The price doesn't matter because if you need to buy $100 worth of Bitcoin, lets say to buy some altcoins, you will get about $100 worth of Bitcoin no matter what the price is ($5k, $10k, or $20+k) unless the price changes really quickly.

Also, I don't know why people complain about high fees when I used Bitcoin for years and don't really remember high fees except around last summer (2017) but that got fixed. I just sent $7 worth of Bitcoin and the fee was like few cents.
EducoinVietnam
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October 22, 2018, 10:37:24 AM
 #809

I believe that BTC is really of great importance for the modern crypto market. It becomes the main currency for modern digital transactions, with benefits for users, financial institutions and potential investors.
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October 22, 2018, 10:40:29 AM
 #810

I am fully confident that today a similar situation in the crypto market is completely logical. Since BTC today is the main, the first cryptocurrency in the modern crypto market. I believe this is the most reliable coin for profitable transactions and long-term investments.
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October 22, 2018, 10:42:03 AM
 #811

Bitcoin has a very common name and many people confuse all the crypto with just Bitcoin. Very less people know about the other alcoins
therefore bitcoin is a very useful asset and a good investment place, so bitcoin is very useful to help launch the country's economy or society...

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October 24, 2018, 06:29:02 AM
 #812

In many ways, BTC can really be compared to the dollar. After all, he is a confident leader, the king among all cryptocurrencies. Most transactions occur with the use of BTC, it causes more confidence and interest among potential investors.
MikeP243
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October 24, 2018, 06:39:40 AM
 #813

You know how the monetary system works right ? Banks, Tax Departments, Governments, all that political nonsense ?

You would know that for all that to work they have to borrow money that doesn't exist and the only person that can borrow on debt is the Federal Reserve, basically long story short they keep making money out of thin air whilst having an even higher debt repayment than before the last borrow (IOU) amount.

Bitcoin has a hard cap of 21 Million coins to ever exist (20 Million and less if you discount satoshi 1M and lost + burnt coins, no more coins will be created after 21 million have come into existence, every 4 years the reward for mining is halved, eventually miners will power the network in reward for transaction fees (When this time comes there will be many transactions going on to make it viable for a miner)

General Supply and Demand Scenario...

This sounds like Gold doesn't it ? well it is but digital + better, bitcoin is the Pioneer of the scene so it would make sense to go to #1

This is only the beginning as there is much more of a ride for generations to come Cool
daviidalpert
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October 24, 2018, 06:54:27 AM
 #814

BTC is the first cryptocurrency.It has a very important position in this market.Although its transaction cost is very high.Although its transaction cost is very high.it is recognized and traded in many places.
Fluxtorrence9
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October 24, 2018, 07:05:08 AM
 #815

Slow transaction and high withdrawal fee are main problem plaguing bitcoin but that doesn't mean its useless , bitcoin is one of the best coins out there that are stable now and I'm future in the future we might see soft upgrade that will fix the high sending fees
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October 24, 2018, 07:38:45 AM
 #816

BTC is the first cryptocurrency.It has a very important position in this market.Although its transaction cost is very high.Although its transaction cost is very high.it is recognized and traded in many places.
yes the position of Bitcoin is important in the market, Bitcoin has the highest value and always occupies the top position in Crypto. he is the most expensive and widely sold coin on the exchange, and many get profit from Bitcoin. he will always be needed and he will rise again so that his value can be high again.
sinkfish
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October 24, 2018, 10:19:55 AM
 #817

Bitcoin serve a big role on crypto market. it serve as the gate way to crypto market. no matter how unuseful compare to altcoins. but in order to buy altcoins, you must go through Bitcoin. hence elevate the status to king of crypto.
tridverju
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October 24, 2018, 10:39:49 AM
 #818

I also cannot understand, why people are trusting in Bitcoin. There are so much great altcoins at the moment as NEO, IOTA, XLM and so on. Ethereum is also one of the best coins that was created but the price is around 200 USD. Invest in altcoins and one day they will overcome BTC.
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October 24, 2018, 10:52:32 AM
 #819

Why is he useless? After all, bitcoin is not just a coin. It is held by other coins, and they are signed by their projects. Like a Dollar. That is, the dollar sets the course for the center, but the center reinforces the dollar. Here, too, most is happening. Bitcoin sets the rate to other coins, but he himself is fueled from coins that have their value from the projects that had been left in the light after ICO. TUI's closed!
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October 24, 2018, 10:53:20 AM
 #820

Slow transaction and high withdrawal fee are main problem plaguing bitcoin but that doesn't mean its useless , bitcoin is one of the best coins out there that are stable now and I'm future in the future we might see soft upgrade that will fix the high sending fees
This is not topic about withdrawal fees and topic is outdated. It started when bitcoin was at ATH, network spammed and we had very high fees.
If you only try to send transaction you will see that fees are very low. Slow transaction is problem, sometimes it takes 1 minute for confirmation and sometimes 1 hour but I don't see that as a problem at all. What has to be so urgent and could possible happen while you are waiting transaction to confirm, it is not our life is depending on it.
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