As a long-time Bitcoin hodler, I welcome the current development of Bitcoin and find the increasing acceptance great. But the question arises as to whether Bitcoin can still be considered as money for everyday transactions or whether the idea is outdated and Bitcoin is more of a store of value option like gold than a means of payment.
Why? I try to pay with Bitcoin wherever possible. Fortunately, more and more merchants and services are accepting Bitcoin. Whether directly or through third-party providers. Here are my experiences over the past few weeks.
I wanted to take out a subscription to my favorite streamer. $4.99 payable with Bitcoin. Timely Confirmation Fees, $ 6.71. 134% of the purchase price. Even with an annual subscription, the fees would still be around 20-23%.
Paying my web hosting costs of around $30, Bitcon fees also around $5, which would be 16-17% fees.
The fees may be acceptable for buying a Tesla for $ 40-50k, but certainly not for daily payments.
You are not wrong over here! What I find amusing is that people will still try to oppose your opinion. They are either blind or are just a huge fan of bitcoin that if anyone says anything against it, they will get aggressive. I don't hate bitcoin or anything (in fact I love bitcoin and is the only coin I hold along with other top two altcoins), but I do admit that there are many flaws over here. Flaws that is going to make bitcoin "unusable" as a regular currency. As long as people don't admit, there is no hope of fixing things.
But I do believe we all are smart enough to come up with a solution that won't break the main protocol.