Post
Topic
Board Economics
Re: Why are Venezuelan not switching to Bitcoin?
by
FinanceUS
on 04/12/2016, 13:44:04 UTC
Two arguments here stand out. How on earth can people abandon fiat for bitcoin when:

1. Blockchain simply cannot handle the extra 20 million transacts that will come daily (very conservative estimate). Should people wait 2 or 3 days to ensure they aren't victims of double spends?

2. Should electricy and internet get disrupted (a lot for more than half its population) are people going to simply pause trade and commerce?




Good points here. I'd added that still many people in this planet don't know what Bitcoin is.

One can't ask people in Venezuelan all switch to use Bitcoin when significant percentage of people there knows nothing about Bitcoin.