Post
Topic
Board Bitcoin Discussion
Re: Bitcoin becoming Legal tender
by
legiteum
on 05/04/2024, 23:06:54 UTC
I guess you could say Bitcoin Cash could be a better candidate for legal tender given the cheaper tx fees but that's a whole other argument.

Bitcoin Cash is more centralized, and therefore more scalable to higher transaction loads at a cheaper price, but it's still nowhere near fast/cheap enough to seriously take on mainstream everyday transactions--no blockchain-based architecture could do this.

Satoshi never envisioned taking over the world's transactions with Bitcoin or anything using it's architecture. It's simply not a problem he was trying to solve--and it shows.

Decentralization, and thwarting government subpoenas into transactions, comes at a cost--and most people don't want to do that anyhow.

The only viable mainstream digital currencies for everyday transactions will be centralized architectures e.g. like Haypenny currencies.