Post
Topic
Board Bitcoin Discussion
Re: Bitcoin is hardly "doomed" because of the IRS ruling
by
s_s
on 27/03/2014, 18:11:32 UTC
why would anyone choose to use bitcoin now.

Because it's best use cases have nothing to do with using it as daily spending money.

What are the best use cases?

How often does Grandma send money overseas?

If you want mass adoption, you need to cater to the needs of the masses.

I'm not sure how much "Grandma" sends....but there are 100's of billions of USD sent by others each year (v.s. the current 7 billion dollar Bitcoin market cap).

http://www.consumersinternational.org/our-work/financial-services/key-projects/global-money-transfers/

And the fees amount currently to 10-20%.

This is only one of those "best uses".

this is not what satoshi intended when he created bitcoin.
bitcoin was supposed to replace fiat money and remove the banker's power to print money at will.
if all bitcoin is good for is sending money abroad cheaper than western union/bank wire transfer then bitcoin is failing its mission.

I'm sorry...but in my own opinion (which likely is not shared by you...and most likely some others on this board)...the notion that Bitcoin was EVER going to completely replace fiat currency is and was an ideal NEVER likely to be realized.