Post
Topic
Board Bitcoin Discussion
Re: What bitcoin adoption really is.
by
pooya87
on 29/07/2020, 05:04:58 UTC
I believe that the main bitcoin purpose is a store of value. Many people say that bitcoin is not used as a medium of exchange
bitcoin is a store of value because it is a medium of exchange. otherwise you would be storing some virtual numbers in a very expensive database without any value.

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transactions are slow and fees are high for small purchases.
bitcoin transactions are super fast. it takes literary 1 second, or 3 worst case scenario to propagate a transaction throughout the entire bitcoin network that is spread across the globe. and fees aren't that high most of the times  but i agree that they should be lower.

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People don't use bitcoin to buy stuff,
that is your assumption.
millions of dollars worth of transaction is being processed by BitPay alone which means people are using bitcoin "to buy stuff" and that is not even considering other payment processors such as Coinbase, etc or even the merchants that accept bitcoin directly both in online and offline shops.