Bitcoin hyped by miners?

[Nicholas Ferreiraa]

Bitcoin is an cryptocurrency that is used in transactions. Some stores now accept Bitcoin for payment. Bitcoin is growing. In the future, the general public / organization will use Bitcoin as a currency

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[ershovspa]

Bitcoin is an cryptocurrency that is used in transactions. Some stores now accept Bitcoin for payment. Bitcoin is growing. In the future, the general public / organization will use Bitcoin as a currency

We surely hope so. When it gets accepted and approved it'll spread much quicker.

[buy_crypt_sell]

Bitcoin will be used everywhere. And to play on the stock exchange, to carry out normal financial transactions-to apply in retail chains, to be issued a salary, to be accepted in medical institutions.

[semimall]

I do not think so. people must adopt crypto money first to increase their usage area. crypto money needs some time. whales create prejudice, that's the problem.

[Opusstin]

Miners at any time can switch to other crypto-currencies. By this I assure you, other people are speculating with a coin. Who?  I can not say...

[ziac]

I am struggling to understand how Bitcoin is going to be used.
I know its long standing coin, gold like qualities, not hackable etc.  But when it comes to how it can be used, I could not find any answer.  High transaction fee, limited coins cause deflation, too volatile etc.  General public, corporations cannot use it.  Gold is different, there is nothing like gold but we have better coins than this. 

Will this be used for only speculation, betting?  How would general public / institutions use it in future?

People like the idea of a currency that has finite supply not lik fiat where you can print it out of thin air. Bitcoin also serve as a payment that can easily be transferres without the hassle of doing paper work or so.

[mikhailkudig]

Perhaps in the future, the use of cryptocurrency will be wider. With the development of society as a whole, bitcoin can become a universal world currency.

[CoinsGazer]

From the beginning of 2009, 1300 bitcoin 1 US dollar, and now a bitcoin sells more than 6,000 US dollars, soaring nearly 7.8 million times, becoming the only thing in recent years that is higher than house prices. For a time, cryptocurrency was again hyped by investors and miners, calling it the hope of future currency. Only when it gets more cryptocurrency can it guarantee that it will not fall on the starting line. The madness of mining has been going on for many years. More and more people are pouring into this industry.

However, in the short term, the output and appreciation rate of cryptocurrency has greatly exceeded the demand of consumer circulation. The fast appreciation is not destined to replace the long-term mainstream currency. Otherwise, the gain of waiting for appreciation is much greater than investment and labor, and no one consumes. Money can't be circulated, and finally the cryptocurrency will return to its essence, becoming a string of meaningless code in the hands.

[pozmu]

Coins which contained little gold/silver were hyped by kings.
Paper money by presidents.
So what's wrong with bitcoin being hyped by miners?
Do you think it's some kind of ponzi/ pyramid scheme? Yeah, as for its valuation you could argue it is, but the same is true for paper money.

whales create prejudice, that's the problem.

Unequal distribution is a problem, but same can be told about paper money.

[gesdan]

actually, bitcoin is created for being the digital currency, and I think right now is not a good time for use bitcoin as the currency, because we need a stable currency when we want to use it daily, and bitcoin price is not stable, the price is down and up immediately, and i hope in the future we can see that the price of bitcoin can stable and we can use it as the currency

[georgiasus]

Bitcoin itself can be considered as the first push to the development of cryptoindustry. Yes, it is not perfect, but we all need to strive for the best. To achieve ease of use, it is advisable to exclude transaction fees and generally secure the use of cryptocurrency from criminal use

[Buttermellow]

I consider bitcoin as an asset at the same time it could be also a digital currency for it could be used also as a form of payment but should be agreable to both parties. As we all know that there are some difficulties to consider when using bitcoin a method for payment.

[dohh]

I am struggling to understand how Bitcoin is going to be used.
I know its long standing coin, gold like qualities, not hackable etc.  But when it comes to how it can be used, I could not find any answer.  High transaction fee, limited coins cause deflation, too volatile etc.  General public, corporations cannot use it.  Gold is different, there is nothing like gold but we have better coins than this. 

Will this be used for only speculation, betting?  How would general public / institutions use it in future?

Many misbeliefs in here.

1) there are no similarities between gold and BTC.
2) BTC may be undecryptable without key, but it is definitely VERY hackable.
3) transactions fees are very low. Its not actually only good, its bad as well. Whales can move coins between their own wallets and therefore mimic market activity at current price level.
4) deflation is bullshit. My salive is limited too. It is unique with my DNA code and scientists can figure out, how much of it, could I produce. It wont make my saliva useful, would it?

BTC is used for: speculation and money laundering, but most importantly: its a huge scam mechanism.

[marinavepa]

Crypto has more potential than gold, the price of gold is just the price of the dollar up. Gold is for those who prefer a safe investment. Also, Bitcoin can be used to make good purchases and payment services, It makes financial transactions easy and global.

[boakyei]

You get wrong idea about what miners do to the blockchain transactions. They are not owners of bitcoins but just as a way of verifying transaction in the network. Bitcoin is a solid invention that doesn't need any hype.

[LaurenProfi]

There is no of course, over time all not will use ! Technology will always be ahead of everything in its time ! Early and payment terminals was not on the cards erased a protective layer to send SMS

[so_stupid]

logics?)))
If Bitcoin is a consequence of the miners, then the instigators of all this are then the manufacturers of video cards: D

[cizatext]

Bitcoin could be use for numerous purposes suce as for making online payments and at the same time bitcoin can be use to pay for good in a peer to peer method, and in time to come bitcoin is going to become the dominant currency for all financial transactions within our financial system.

[supermine]

I consider bitcoin as an asset at the same time it could be also a digital currency for it could be used also as a form of payment but should be agreable to both parties. As we all know that there are some difficulties to consider when using bitcoin a method for payment.

The problem is only the volatileness of the crypto currencies otherwise anyone can easily understand the bitcoin transaction but there is no need to understand the blockchain technology.Until now bitcoin is not used as form of payment in most of the places but they were used by the traders and the investors were the miners have nothing to hype the prices.

[pawanjain]

I am struggling to understand how Bitcoin is going to be used.
I know its long standing coin, gold like qualities, not hackable etc.  But when it comes to how it can be used, I could not find any answer.  High transaction fee, limited coins cause deflation, too volatile etc.  General public, corporations cannot use it.  Gold is different, there is nothing like gold but we have better coins than this. 

Will this be used for only speculation, betting?  How would general public / institutions use it in future?

It is quite expected from newbies to ask such questions since they lack in the understanding the technology i.e., the terminology of how bitcoin works.
The limited supply doesn't cause deflation but increases the price due to demand which further increases the transaction fee.
This also creates volatility in the market but once it is stabilized the transaction fees comes back to lower rates and hence it doesn't cause any problems.
The stability of bitcoin is what the actual problem is and I believe it will soon be solved.