Quote from: moneystery on Today at 01:41:31 PM

Quote from: leonair on March 17, 2024, 09:32:23 AM

Bitcoin can be used as an alternative to money but there are also many risks as Bitcoin is not limited to a specific price. As the price of Bitcoin is not stable, it cannot be compared to FIAT and the money savings cannot be relaxed like FIAT. Bitcoin is a powerful asset it can only be paid with Bitcoin as a perfect FIAT alternative for investing but Bitcoin cannot be used as a default currency to the exclusion of FIAT.

the main problem with using bitcoin as a means of payment is that the price tends to be unstable, quite different compared to fiat where the value can be stable. and again, to transact bitcoin it requires a waiting time of around 10 minutes with fees that can reach several dollars in one transaction, this makes bitcoin not very attractive to people who want to make local transactions.

however, for cross-border transactions, perhaps bitcoin could be the best choice. because the waiting time is faster than regular payment platforms and the fees are relatively more affordable.

Yes the one which you listed are few limitations of Bitcoin people who wants to do low value transaction prefer some other alternative cryptocurrency like TRX which are much cheaper I would say almost like zero fees and much faster there are so many Altcoins to name but as you mentioned about volatility these coins tends to be more volatile than Bitcoin hence people are using stable coins but I generally don't prefer stable coins as we are made to believe that they are backed but there is no concrete proof apart from their own reports hence they can disapper anytime but not so soon.

Bitcoin would be best suitable for large transactions due to its security and also less volatility compared to other altcoins.