Post
Topic
Board Bitcoin Discussion
Re: Bitcoin the New Gold & Dash for Payments?
by
NeuroticFish
on 15/12/2017, 08:09:44 UTC
What about the high transaction fees of bitcoin? Can you imagine if amazon accepted bitcoin payments and people order a book for $20 and have to pay high transaction fee which makes it too expensive? I see BTC more as a investment than a currency for daily payments.

Of course the fees are way too big now. And I still believe that the current size of the mempool is unnatural. And you are right on this, there was already a story about Steam no longer accepting Bitcoin exactly because of the fees.
There are already merchants accepting some of the altcoins here and there, I know that too.

For now, the best option is indeed to work with Bitcoin-as-asset, not Bitcoin-as-currency if you cannot use SegWit.
But Bitcoin is evolving. SegWit is already a big step. LN will follow. The devs will improve Bitcoin until it will become fit to be used as currency.


And let me give an example. I have a "Bitcoin card". Before, converting Bitcoin to fiat was expensive. They moved to SegWit and now I don't even know if it's for free or just dirt cheap. It's a good step forward.