I know that bitcoin was made to be better, but lets take a look at the reality now.


Bitcoin as a way to send money to someone:

If I send money to my buddy overseas he will have to open up a account at an exchange and then pay all their taxes to cash out the money. At some places the bitcoin currency is different from the bitstamp. So at the end I could spend a lot more to sent him the money. I know that if it was just bitcoin it will be ok, but as of now fiat is the money that everyone accepts.

Bitcoin as a way to buy stuff:

If I want to buy stuff with bitcoin, I have to have the wallet , cold, hot and also some security hardware. The store would have to have all that and also take the risk of bitcoin do up or down too fast. So to accept bitcoin as of today, this would be more marketing than actual business.


I think bitcoin would be good only for a regular money channel between to parties. If you have to send money to your partner and if this is very expensive and take too much time, than maybe bitcoin could be better. Lets not forget that a exchange is needed to make bitcoin turn in to fiat. That may cost a lot.