Ninjastic
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Board Bitcoin Discussion
Re: An Open Letter to the Bitcoin Community from the Developers
by
brg444
on 03/09/2015, 06:42:08 UTC
Quote from: freedombit on September 03, 2015, 06:39:26 AM
Quote from: brg444 on September 03, 2015, 06:20:17 AM
Quote from: freedombit on September 03, 2015, 06:13:20 AM
Quote from: brg444 on September 03, 2015, 04:53:19 AM
Quote from: jonald_fyookball on September 03, 2015, 04:43:59 AM
Quote from: freedombit on September 03, 2015, 04:40:07 AM
There is nothing wrong with a fork. Let's just make sure the exchanges allow the exchange of both. If there are exchanges that intentionally block one over the other, the exchange is not a supporter of free markets.

The only problem is that CURRENTLY, real world merchants like Dish, Expedia, etc will only accept "Bitcoin".  They will not bother accepting two coins, so most likely the fork with less mining power will die quickly and there will be miniscule demand for it.

In the future if crypto becomes more mainstream, a fork that leaves two currencies will be more viable.

Dude, no one is using Bitcoin to pay for his Dish bill. That type of use case is never going to make a difference... get some sense, won't you?

Dish is definitely receiving Bitcoin payments.

Yeah maybe some hardcore Bitcoin dude does it but if we are being honest this use case is negligible.

Usage is negligible now; but these are the use cases that count the most for those in the Bitcoin is a currency camp. If you are in the Bitcoin is an asset camp, then you are right, who cares about the smaller transactions. I believe in the US consumer spending outweighs government and business spending combined. Tried to find some quick stats, but couldn't. Anyhow, the largest corps by market cap are all consumer oriented.

Asset markets largely surpass retail/consumer use cases. Bitcoin is infinitely more valuable as a replacement to gold, offshore saving accounts & safe havens. It also happens to be this is what it is best at.

If we're being honest Bitcoin as a payment system and transactional currency currently sucks balls. Undecided It is still years away from being mainstream consumer ready. Bitcoin as a currency will get all its glory and flourish once the majority of people on earth hold it and it becomes a unit of account. Until then we should expect retail use to remain marginal especially seeing as people will be increasingly encouraged to spend their inflationary fiat and save into Bitcoin or whatever other asset.