Quote from: Welsh on August 11, 2021, 07:34:59 PM

Quote from: skybot13x on August 11, 2021, 12:12:57 PM

No, that is not what they observe these days mostly. Imagine you find out about Bitcoin today and there is a restaurant accepting Bitcoin, have fun trying to pay for your 10 USD pepperoni pizza with Bitcoin... Cheesy

20 USD in fees, 10 USD the Pizza, 2 USD the tip, seems to me like a pretty expensive pizza that you also had to wait for 30 minutes because the one block confirmation took a little bit longer.

The idea is; Bitcoin won't always have expensive fees to pay for small transactions. Technology like Lightening, and Segwit try to tackle this problem, and there will likely be more, and more improvements in the future. Currently, I would probably agree that Bitcoin isn't suited for micro transactions, such as every day transactions, however that doesn't mean it'll always be the case. I also imagine that restaurants won't require block confirmations, because the likelihood of a double spend is relatively low, and there's probably just as much risk as someone paying with a fake bill (sometimes even without knowing themselves).

That's absolutely right what you are saying and I am sure once the technology is in place that real micro transactions can happen, I think Bitcoin might go to the moon once again. Way beyond where we are at now. Think about all those people from poorer countries who then might have a real solution to their micro transactions problems. All these people are not essentially excluded from using Bitcoin because it just doesn't make sense for them. This will need some time but once the tech gets rolled out we'll see a lot of enthusiasm arise from other places of the world as well.