Post
Topic
Board Speculation
Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
by
billyjoeallen
on 07/11/2015, 05:26:34 UTC
Well, bitcoin is not to be used for ordinary e-commerce payments...
Why not?

That is the stated Blocksrteam/small-blockian view: bitcoin should be used only for large-value settlements between institutions, like the Lightning network hubs -- not for ordinary e-purchases by ordinary citizens.

I know that, but that is because of certain technicalconstraints.  If Bitcoin could scale without jeopardizing its security, and censorship resistance, why would they not want it to be used for e-commerce?
It just doesn't make sense. It's one thing to argue that there are technical limits and trade-offs. It is quite another to argue that, given solutions to these issues, they wouldn't want to implement them.  

An ideal cryptocurrency would be infinitely scalable, instant, completely censorship resistant and inexpensive to use, right?  So we should make bitcoin as close to that as possible, right? It's as if they think consumers exist to serve producers instead of the other way around.  That is a basic economic fail.