Bitcoin is useless so why high price?

[Geenstijl]

This topic was created on December 30, 2017 and at that time there were really slow and expensive transactions. But now bitcoin has been improved and all the problems problems are almost solved. Yesterday I sent a few coins with a very small transaction fee. I think this is a very big step forward.

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[cicciogas]

I couldn't agree more. Once we will have fiat - crypto BTC will become useless. Mark my words.

[tot-o]

Useless you say? Then why are you here, just sell your BTC and leave, the transaction has a fee to keep wallets progress and function for their maintenance too. Well as for the BTC price it does increases because a lot of buyers want it.

[decano]

Bitcoin transfer fees are very high. I believe in blockchain technology. Crypto money will be used all over the world in the future. Bitcoin is the world's most popular crypto currency.

[mornabo]

bitcoin is not useless ridiculous fees are already gone now so and transactions get confirmed using cents even bitcoin is very old its still getting updated look at lightning network which can make even transaction fee cheaper bitcoin also gets the most attention than altcoins.

Yes just because of high fee calling bitcoin is useless is not good and everyone experienced this issue in December but now everything is good and people are happily doing bitcoin transactions with low fee. now they come with lightning network and in future, they will improve a lot so just forget those bad days and collect more bitcoins or else in future you will feel so sad.

I think it's normal when users are disappointed because the previous bitcoin transaction fee is very expensive because the actual function of a cryptocurrency is for means of payment or transaction right ? so when they get an expensive fee for bitcoin transactions of course they are reluctant to use bitcoin as payment again? so bitcoin function is just for investment nowadays?

[coinluisa]

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.

Who said that bitcoin is useless? This is the the problem to some people a little delay of transaction they frustrate their self or stress their self waiting is the key. If bitcoin useless why many people love it to buy and how do we invest to other like altcoin if bitcoin is useless?

[aencarnaci]

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.

Yes, the fact is it is too early to call bitcoin is useless. Because we do not have all the required infrastructure to realize the real potential of bitcoin ecosystem. We must give it some more time so that we can find out how useful it will be.

Probably in coming years more people will come with many new ideas to develop those infrastructures so that bitcoin will deliver for what it was really invented.

I must agree with this. When there will be no proper environment where we can use bitcoin, we cannot call it useless. First we need to design a complete system so that we can use bitcoin more effectively. But that will not happen within a  day so we must give at least 10 more years of time to find the actual potential of bitcoin. I strongly believe bitcoin is capable of making our life much easier than what we have now a days.

[therwas]

First of all bitcoin is most known coin and its brend, its like you pay for  watches 100k$ only because of brend, you could buy for 10$ , so if there is no another known coin in future, bitcoin will increase.

[castis]

I think bitcoin high price is because it was first coin and it had blockchain technology, and of course because bitcoin is limited edition, only 16 million of them in the world.

[Falmera]

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.

Your idea is absolutely right. Bitcoin is very useful to those who knows exactly what the system is all about.It changes or shall we say improve the living of many bitcoiners. Especially when it is at its higher price. It might not important for others because they don't know how to use it especially that it is not tangible unlike the money that we have on hand.

[webmone]

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 don't think that Bitcoin is useless. We are on the forum where the plenty discussions about cryptocurrencies are started. And this is not just a game of words. Crypto is practical important tool. But fiat money exist for other purposes.

[QueenOfCrypto]

Now the fees have reduced and they are fine. So Bitcoin has started to function again. However, it has stopped being a coin time ago, now it's just a store of value. People don't buy bitcoins for buying things, they buy it because they expect that its price will rise.

[Gangy]

I don’t agree with you about bitcoin is useless but it’s fee is very high that’s true. Bitcoin is the most popular and first coin in cryptoworld. And it’s promising for investment.

[alexeylom]

I agree that there are high fees, but still it is crypto gold, and I think that in the near future you will cover your fees and collect as much as you had at the time of investing.

[ronbt]

BTC is pretty useless as a medium of exchange, so I expect it will not last, but some other altcoins surely will.

[pat231]

Bitcoin will be detronized by some altcoin but it will take a couple of years for that to happen. Most people out of crypto who heard about bitcoin do not know any other coin. It takes time another crypto will be introduced to wide public.

[slonbegemot]

Bitcoin is not useless, just because it already exists and people make payments in BTC. It’s like gold in the cryptoworld because it has limited emission.  Also price to mine bitcoin raise over time and it is a lot of money honestly. That’s why bitcoin costs too much.

[ashaksagnis]

Useless? I disagree. Bitcoin will be most popular coin ever and will be more useful over time for sure but fees ar pretty high. 

[BitProCoin]

Because Bitcoin is not useless but you are? Scalability problem will be over next few months. Meanwhile we are using Bitcoin as store of value. It's not a good way to send money for low amounts.

[hdclover]

Useless? I disagree. Bitcoin will be most popular coin ever and will be more useful over time for sure but fees ar pretty high.  

Fees are damn low now when you compare with its all time high fees. Coinbase and other exchanges are started to adapt segwit which significantly reduced fees. Spam attack on Bitcoin is also not seen nowadays. 10 sat/byte transactions are getting confirmed easily.