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Author Topic: Bitcoin is useless so why high price?  (Read 4588 times)
fred22
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December 30, 2017, 10:07:14 PM
 #1

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.
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December 30, 2017, 10:12:46 PM
 #2

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.

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December 30, 2017, 10:19:41 PM
 #3

Do you will forget your father if something bad happen to him? same thing happend to bitcoin because he the father of cryptocurrency no matter how bad he is no matter what he do he still your father. There no another Crypto like ethereum with all his token if bitcoin never created
Chokolo
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December 30, 2017, 10:23:30 PM
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 #4

Bitcoin is only popular because it was the first coin.
Its outdated now compared to many cryptocurrencies.

Its painfully slow, its expensive and its highly inefficient network that consume over a country electricity.

Ditch Bitcoin and buy other. Its a reason why its not going up anymore
fred22
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December 30, 2017, 10:29:29 PM
 #5

Yes I bought ether, ether classic, litecoin, Monero,xrp... but not bitcoin  Smiley
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December 30, 2017, 10:32:01 PM
 #6

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 on a small amount the commission turns out to be very large, but you have no choice or pay a commission or wait.

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December 30, 2017, 10:34:47 PM
 #7

Its not useless, it still become good investment. Sure it cant be for daily use you know the fees and slow transaction but still, its bitcoin the father of cryptocurrency.
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December 30, 2017, 10:35:07 PM
 #8

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.

Right now that is indeed the problem, however since bitcoins are really flexible and a the whole community sees the problem perhaps another push for segwit2x would occur and that it would likely unite the whole community this time around. As the transactions has not really improved after just the initial segwit upgrade, I think the upgrade to a segwit2x would be a much needed one. Well this will result to another debate over the upgrades all around the community but I do hope we reach a consensus before it is too late that everyone wants to get out of BTC.
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December 30, 2017, 10:35:16 PM
 #9

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.

Is not useless because it is paired with most altcoins in exchanges, hence if you want to trade you need to buy. However, I agree, high fes are going to kill the coin.

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December 30, 2017, 10:35:43 PM
 #10

As of this past week, bitcoin is indeed pretty fucking useless, and you're pretty much in denial if you don't think so.  That's not just my ego talking.  I can't sell what I have, nor can I spend it because the cheapest fee on my Mycelium wallet is about $43--and there's no way I'm spending that amount just to spend a somewhat larger amount (around 0.015BTC).  This is insanity.  Once the network fees come back down, I'm out of bitcoin for the forseeable future.  I'm going to hold something else.

Bitcoin itself isn't useless--the concept is fantastic--but what it's become is a joke.  I don't care if it goes to $1million.  If I have to include huge fees just to send small amounts...that's not for me.

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December 30, 2017, 10:44:59 PM
 #11

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 latest segwit 2x hardfork just another shit to give a very big pre-mined token to the unknown developers, Already discussed in some crypto news site about segwit 2x. The bitcoin only win on its mass adoption.
Rather than bitcoin and if you are using ethereum, and it may only cost around $0,3 for every transaction. Bitcoin is pretty ridiculous.

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December 30, 2017, 10:51:29 PM
 #12

I've been converting it to DOGE to send it between exchanges. 120000sats to withdraw from cryptopia or 3DOGE (180sats).
Chris marshall
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December 30, 2017, 10:54:34 PM
 #13

I've been converting it to DOGE to send it between exchanges. 120000sats to withdraw from cryptopia or 3DOGE (180sats).

well you learn something new every  day, thanks for the tip
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December 30, 2017, 10:58:49 PM
 #14

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.
A good solution will be to buy ethereum and sell through ethereum. Because it is a good, stable coin that will not be lost price in shipping for a few minutes

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December 30, 2017, 11:00:01 PM
 #15

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.

I guess its what everyone have to live with at this time and the only thing we can all do is just to hole that things will get better either by design or by mistake. Things just needs to get better because without that, I see bitcoin losing its position really fast to other alt coins that are competing for that position which is really happening fast and the series of improvement that should be witnessed in the coming year will have to be put on hold for now.
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December 30, 2017, 11:06:35 PM
 #16

I think people are so impatient and can't wait for a change that's why they shift into altcoins. And it also sounded like a FUD because you want the price to get down. Well, you are sorry because it doesn't affect to a long-term holder. lol
royale143
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December 30, 2017, 11:28:36 PM
 #17

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.

First off, why would you say it's useless. I mean, right now, it has a very high price point, plus it's marketability has been really up there. These are not the only things that make bitcoin quite relevant right now. It has really opened a lot of opportunities and doors for bitcoin to be seen and to continuously prove its potential. So, having said, people keep it as an investment or some sort of a savings that they can get or use in the future.

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December 30, 2017, 11:36:03 PM
 #18

 I look at BTC as at Dollar. It's like a father of all cryptocurrencies. Yes, it is slow, expensive and needs lots energy to be mined, but for now there isn't alternative coin for this role. Nobody knows what we will have tomorrow and if BTC will so important as today. But i always keep 40-50% of my portfolio in bitcoin and other part in Altocoins and sleep well night)





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December 30, 2017, 11:39:15 PM
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It is not useless. I think it is reserve currency of this cryptocurrency world like gold. And many see it as safe harbour.

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December 30, 2017, 11:46:55 PM
 #20

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.
For now this is the situation of bitcoin which it do really have high tx fee which isnt really worth it to make transactions specially on smaller amounts. Fees will hurt you out but its not a hindrance for me to continue to engage with bitcoin because i do believe this thing would really be innovated or changed soon. Bitcoin isnt useless if you do try to look how big the community is on its current state.

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