Post
Topic
Board Bitcoin Discussion
Merits 1 from 1 user
Re: Is the high fee affecting the rate of adoption of Bitcoin?
by
Jegileman
on 06/01/2024, 22:10:36 UTC
⭐ Merited by fillippone (1)
As these challenges persist, there's a growing worry that Bitcoin may be viewed more as a store of value than the revolutionary payment system envisioned by Satoshi Nakamoto. If high fees become a recurring issue, the risk of hindering Bitcoin's adoption as a medium of exchange is a real concern. I'd love to hear your thoughts on whether you believe the increase in Bitcoin fees has affected its adoption negatively or enhanced it rather.

The price increase have had a very strong impact on the adoption of bitcoin because even in the forum, it has become a topic of discussion with many members showing dissatisfaction about it. When you look at this case, you’ll notice that the holders of bitcoin that have embraced its use and understand its function don’t look remorseful to leave the system.

If you understand the system better and how it functions, the high transaction fees will only be a negligible concern for you. If bitcoin should be seen more as a store of value, it is still okay and those that can still use it for exchange, they’re very much in cool with that too. What is important the most is that the adoption should not stop and people should come and embrace this new technology that will make you financially independent.