Post
Topic
Board Bitcoin Discussion
Re: Bitcoin: an Electronic Cash System
by
m2017
on 03/02/2023, 13:54:11 UTC
Is it, therefore, somehow a misplaced appreciation of Bitcoin when many are ecstatic every time it is accepted as a payment for a glass of lemonade or a piece of banana?

Not really. People get ecstatic not necessarily because bitcoin is being used for one of the things it's intendedly made for(payments), but mostly because bitcoin is actually getting used in the first place. We all know that Bitcoin is already a household name, yet adoption is still very low.

Again, my point is that Bitcoin wasn't intended for those kinds of transactions. Yes, Bitcoin is intended as a payment method, but online. So if you're dealing with somebody face to face, Bitcoin isn't for it. Cash is the real peer to peer. There are no third parties in between. It's a great system that Satoshi wanted to imitate it in the online world where P2P transactions aren't at all possible.

So to a certain extent, buying a piece of cupcake from a nearby bakeshop using Bitcoin isn't really adoption. It isn't the goal, after all.
That is, mass adoption, when the purchase of a cup of coffee or ice cream can be paid for bitcoin, is this not the goal we should strive for now? But it is precisely something similar that many bitcoin-enthusiasts want to see. First of all, do you see the transition of payments in e-commerce to btc? Then need to add btc as an alternative payment method. Big companies will not go for it right away, but small ones can easily. And when a lot of small companies offer their customers the opportunity to pay with bitcoin, this will be a serious step that can push big businesses to do the same. In fact, we can talk not only about companies, but even about individuals. No wonder it's p2p.

Your point of view allowed me to look at this problem from a different angle. I didn't really like the idea of people offering some local goods or services for btc, but I couldn't figure out why. Now I see that it's a hassle to pay with btc for a chocolate bar when it can be done with cash. Only a very impressive discount or other bonus can encourage people to pay with it. Whereas in e-commerce, bitcoin fits perfectly and can be bought and sold anywhere in the world.