Post
Topic
Board Economics
Re: Bitcoin as a Medium of Exchange
by
richardsNY
on 08/01/2018, 23:58:50 UTC
That's because bitcoin is easy to used and it won't need much time doing transaction.

We can't ignore the situation of the last 12 months where the fees have been a significant obstacle, especially for those who are new to this market. People investing with smaller amounts have a hard time looking at how a single fee of $10-$15 eats through their initial investment amount. For traders and others that are generating whatever form of income in Bitcoin it might not be that much of a problem, but if you start out with a $50-$100 investment, it's going to bother you. Priority nowadays is entirely based on the fees you include, so with some variables in mind, a lot transactions will not settle within 3-4 blocks. SegWit would be a tremendous help in this case, but adoption lacks unfortunately....