With transaction costs rising above $1 the original promise of cheap remittance using Bitcoin is officially dead. Without utility Bitcoin use is limited to speculation only and even further what is there to speculate about?
I would like to debate this and gauge the community's response to Bitcoin experiment.
That certain thing really happens. But we cannot trulynsay that bitcoin is becoming useless just because of the high transaction fees offered in processing your transaction. It is not just the bitcoin who manage the transactions but also the miners who are paid to do the transaction process in exchange of payment. Also the higher amount of transaction, the higher amount of transaction fee you must pay for them to be able to process your transaction. Because transaction fees just rise depending upon the limit of loads in each block. Once your transaction reach its limit, you have to pay extra for the transaction process to occur.