Quote from: BountyGram on July 15, 2018, 11:42:48 PM

Quote from: rhomzkie26 on July 15, 2018, 04:43:23 PM

Quote from: naphto on April 19, 2013, 08:04:15 PM

Hello guys,

To me, it seems pretty strange that people actually continues buying btc now...
I understood why they wanted to invest in btc before, after the Chyprus crisis, and all the articles in the media. But now?

I don't get it.

Bitcoin is useless, and will most likely never be used as a currency. I spent hours trying to get my first bitcoins (satoshi actually), and after working for ages, I only got 0.002 btc, which does not even allow me to proceed to a transaction (the fees are higherthan that amount Roll Eyes

). When you compare it with CC or paypal, it seems that they are free to use in comparison! Not to mention the time required to actually proceed to a transaction which can be anything between 1 minute and ... 1 year (or more?).

The only possible reason I see people are buying btc is that they (truly) believe that the price will increase, and want to make more profit. I think that 99.99 % of the bitcoins exchanged are never withdrawn from the exchangers, and the people are only waiting to make some profits. What makes them believe that the price will rise? Because the amount of bitcoins is limited? Because lost coins can never be recovered? I have no clue.

An other problem is the "mining" part. Soon, the difficulty will increase, CPU and GPU mining will be useless. People will stop mining bitcoins and try LTC or something easy to get... The interest in btc will decrease.

Other issues:
- security. Not a single company was able to provide a "professional" service. Bitcoin-24 has a serious problem ( https://bitcointalk.org/index.php?topic=174600.0 ). Even mtgox was critized for the lags, problems with missing coins, money, delay, and so on ... The hacks are countless (you can see new topics about that every day ...).

I can't see anything positive about btc, and still can't get why people are buying it. Can any captain obvious explains? Thanks.

Excuse me mate, this is not for being rude okay, If bitcoin is useless How come that you became Sr. Member in this forum? and yet you don't know why most of the people here still continuing buying Bitcoin. it is because they really do believed that bitcoin will will increase again at the right time, just all they need to is to wait more a little longer.

Yes, how come a senior member do not know about all this stuff? how do you become a senior member here in the forum? saying bitcoin is useless but you're using btt as your source of income? BTC has a potential in the future that is why many people are still believing and buying it.

I think people are still buying Bitcoin though its price is decreasing because they see the potential for strong growth. This is a promising time for them to earn their fortune in the future. Bitcoin is down but it does not lose its value. It is still perfected every day and will soon return to its heights as it has been or even more so.