Post
Topic
Board Legal
Re: General use of bitcoin as a legal currency
by
Sir Cross
on 13/02/2018, 06:48:09 UTC
No country has taken bitcoin as a legal currency for general transactions because of the complications that go along with it. It cannot be adopted yet in that way because it is still too volatile and for now, the transaction fees are too high. Imagine if you were at your local grocery store and upon paying your bill, you would have to pay almost half of your total bill just to process your transaction and on top of that, it takes hours to confirm. Also, since bitcoin is very volatile and its possible that upon paying, the price would change. It would still be a hassle to use.