With transaction costs rising above $1 the original promise of cheap remittance using Bitcoin is officially dead.
if you want to transfer a couple of thousands of dollar with bitcoin you still pay the same low fee of $0.7-$0.8 but with a bank you will end up paying a percentage of what you transfer.so it is still pretty cheap.
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Without utility Bitcoin use is limited to speculation only and even further what is there to speculate about?
the higher fees are annoying for sure but there are a lot more to bitcoin than just cheap fees.and worst things that can happen is that bitcoin can just be an investment that people speculate about. nothing wrong with that
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I would like to debate this and gauge the community's response to Bitcoin experiment.
bitcoin was an experiment once, a long time ago. now bitcoin is a real currency that many people recognize it as such and many countries are even starting to do so.