Post
Topic
Board Bitcoin Discussion
Re: Hodlers will not change the world
by
tee-rex
on 29/06/2018, 13:19:44 UTC
Well that is the goal and purpose of cryptocurrencies in general.

But, do you really think bitcoin is ready for that? We already know it's limits and weaknesses. The moment the network clogs, transaction fees skyrocket and speed gets really slow. Add that to a very volatile nature, it's no surprise that users and markets find it hard to use it as a payment system. We know these numbers, and guess what, that's nowhere near the numbers we'll reach if people use it, say, in amazon or even smaller online markets.

The development is just extremely slow. I do like to see cryptocurrencies do what it's meant to do, but I guess we'll still have to wait a couple more years for that.

I disagree with your point of view. You seem to be putting the cart before the horse. Bitcoin is not the only currency which can be used for making payments. If we take litecoin as an example, a coin which is technically just a more advanced version of bitcoin itself, there are no such issues as high transaction fees or slow confirmation times (and it has LN activated for over a year by now). But it is still not used widely. What does it tell us? Basically, that there is no demand for crypto as a means of payment, and this is the real problem.

Also, volatility is not an issue either as there are plenty of ways to make it irrelevant, which is what payment processors and gateways do on a daily basis.