Bitcoin Currency Adoption
This cluster discusses whether Bitcoin functions as a practical currency or medium of exchange, focusing on low merchant adoption, volatility, scalability limitations, and its primary use for speculation rather than everyday transactions.
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Bitcoin is not used for medium of exchang, at scale, that's the point.
Thank you for clarifying. I'm not advocating for bitcoin, just fact-checking their (for me the strongest) argument for wider adoption.
At the moment Bitcoin is not better than other currencies because it is a layer on top of existing currencies and their related infrastructure. Because almost nobody accepts Bitcoins there is a constant need to convert back and forth between Bitcoins and other currencies. While I really liked the idea of Bitcoin when it came into existence I now tend to believe that Bitcoin will die slowly because it does not solve any important problem for the average person. Anonymity is not important for almo
Bitcoin isn't money, and adoption by merchants has never been lower. I was talking about the original vision.
yes.Because bitcoin still needs infrastructure to be useful to normal humans.Think of bitcoin like pay pal[1]. Paypal or bitcoin itself doesn't help you if store is down.[1] Not really but its 3am and that's the best i can come up with
(Bitcoin is no currency...)I put it bluntly sorry, but to be more explicit:because of its volatility, BTC is very difficult to adopt for real transactions.Also, with a simple VPN, you access PayPal and you're good to go.I'd argue that the real tech saving the world right now is the VPN.Even to use BTC somehow you will need VPN, because those dictatorships will block the IPs.
BTC isn't inherently painful to use. Things are improving a lot.
It is a currency, a fairly new one that hasn't gained mass adoption yet, with many problems (tx cost and tx/s limits) but people can and do use it to buy stuff. My energy provider in Romania lets me pay my bills with bitcoin.That's like saying any new social media website you create isn't really a social media website because it has only 10 users.
Only because bitcoin isn't used by anyone. I'm not willing to wait for that to switch.
Not gonna work. Bitcoin people are all for adoption but only on paper. In reality, nobody wants to pay for gas or purchase a pizza using bitcoin. All these people care about is speculation and 'beating the market'.