Post
Topic
Board Bitcoin Discussion
Re: Britain keeps the penny but micropayments might promote crypto adoption
by
Bitinity
on 03/05/2019, 11:59:36 UTC


The marketing side in Bitcoin is something that is really lacking. This is in my opinion a big disadvantage for a decentralized platform. As in anything, there is a need for a marketing strategies. On this matter, there must be an effective and less costly way for people to spend Bitcoin on products and service below $1. This can be helping towards more Bitcoin adoption everywhere. And of course, can push for more merchants to join the Bitcoin bandwagon.

When are talking about micropayment, I do not think that bitcoin is suitable for micropayment due to its transaction fees. Indeed there is Lighting Network to avoid the high fee of the transactions. I do believe micropayment is suitable for coins with low transaction fee only like what is being discussed on the linked article by OP.
Of course there will be still some pros and cons to use crypto for micropayment purpose especially about the pricing as it will be always changing due to the volatility of crypto. It wont be effective to use crypto for pricing, so the best way for merchants that accepts crypto is keep on using Fiat for the pricing and they should have an automatic system to convert it into crypto based on the latest price.