Quote from: royale143 on December 30, 2017, 11:28:36 PM

Quote from: crzy on December 30, 2017, 10:12:46 PM

Quote from: fred22 on December 30, 2017, 10:07:14 PM

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.

That's a bit of a circular argument. Bitcoin will always have a special place in my heart (and my portfolio)- but it is rapidly becoming legacy tech because of lack of community consensus on solving the scalability issues. Segwit2x doesn't solve them- it just kicks the can for another 3 year debate (by which time it'll be useless), and Lightning is heresy because it goes off-chain. Bitcoin was designed for one purpose- the be a mechanism for a Transfer of Value- it's been argued that it is a 'Store of Value' but it's really not good at that because of the characteristics of cryptocurrencies. Bitcoin is at a cross roads- it can either upgrade itself to face down the 2nd generation cryptocurrencies, or go the way of Betamax and gradually deflate in value over time.