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POLL: Do you use Bitcoin?

Bitcoin or no bitcoin?


  • Total voters
    85

Seliph

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WiiMiiSwitch

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dAVID_

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Bitcoin has no practical purpose. If it's privacy you want, then Bitcoin is not the answer, as all transactions on the blockchain are public. The moment you turn your Bitcoin into usable money (e.g. USD), any semblance of privacy is destroyed, as you'll have to declare that income to the IRS or risk hefty fines and/or prison time. If you want to use it as a regular currency (in other words, you're not just buying Bitcoin hoping the price will hike), you'll quickly realize that transactions on the blockchain are painfully slow, with a maximum of seven (7) transactions per second at any given time. This is why Bitcoin transactions take an hour to complete on average.
Then there are the fees. A $17 fee on any transaction of any amount means that Bitcoin is completely useless for transferring small amounts of money.
Bitcoin, in its current state, is a burning pile of shit.
 
Last edited by dAVID_,

AkikoKumagara

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It's shitty for the environment, and it's the reason me and many others can't get a gpu
Big agree that mining farms are absolutely toxic. I think retailers need to start assuring that this doesn't happen by limiting orders and requiring some sort of customer verification to limit purchases of high-demand items, especially when supply is as low as it's been.
 

Julie_Pilgrim

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Bitcoin has no practical purpose. If it's privacy you want, then Bitcoin is not the answer, as all transactions on the blockchain are public. The moment you turn your Bitcoin into usable money (e.g. USD), any semblance of privacy is destroyed, as you'll have to declare that income to the IRS or risk hefty fines and/or prison time. If you want to use it as a regular currency (in other words, you're not just buying Bitcoin hoping the price will hike), you'll quickly realize that transactions on the blockchain are painfully slow, with a maximum of seven (7) transactions per second at any given time. This is why Bitcoin transactions take an hour to complete on average.
Then there are the fees. A $17 fee on any transaction of any amount means that Bitcoin is completely useless for transferring small amounts of money.
Bitcoin, in its current state, is a burning pile of shit.
So, it destroys the environment, and doesn't even have the privacy benefit
 
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