Quote from: Pan Troglodytes on January 25, 2018, 09:26:06 AM

Quote from: r00 on January 25, 2018, 09:19:20 AM

Thanks for the welcome, you were the first to welcome me.
I also thank you for your advice and your directions.
In this regard, if it is a chance to make money over time, why retail traders do not start to adopt Bitcoin? What blocks them? Is it a lack of trust and security towards the Bitcoin itself?

Unfortunately the problem is more complex than that. This is true that media throughout the world try to discredit bitcoin as having no official government support, but to the people well informed it would be just FUD. So lack of trust is not the reason behind low acceptance.

The problem is that the fees for spending Bitcoin are very high. You will buy a coffee for 2$ and spend 20-30$ on fees. Some merchants and services (Steam is the most notable) that previously accepted bitcoin - stopped doing it. I have read in some other thread by German user, that Berlin was full of places that accepted bitcoin and it is no longer the case now.

The only hope is the Lightning Network, which may create channels to spend bitcoin with no fee. How this will play out - we shall see in the future

Transaction fee is on the way down at the moment, so transactions are becoming cheaper compared to the end of last year, you don't have to pay 30$ on a transaction as a fee. The speed is a different story, in order, to get a confirmation (in the next block) you need to wait for 10 minutes (if you have your transaction included in the very next block). To have the necessary 6 confirmation, it takes roughly an hour. The Ligthning network will help to move the transactions in some seconds or less (no need to wait for confirmation), so for me it would be fine with the current fees, but it will cut the fees too, so win-win in connection with speed and fees. Merchants will be able to collect the payment in a few seconds if they connect to an LN hub with enough connections to other hubs. My only concern is that merchants are legal entities, so they need to prove the incomes of their shops, and if they accept bitcoin but they cannot include it in their tax report, because governments don't allow payments in bitcoin, it will be harder to get to the mass adoption. But if governments want to collect taxes on bitcoin payments and on bitcoin incomes (and not a small income but rather huge) they have to enable bitcoin payments sooner or later...