Quote from: we-btc on April 17, 2024, 01:26:41 PM

I ask this question because I wonder what Bitcoin will become now that the financial institutions and meme coin advocates have taken over.

If Bitcoin is not peer-to-peer electronic cash then how do you see it?

Are you trolling? You promote a BTC wallet, name yourself the name of the wallet that you promote and ask if Bitcoin is a P2P electronic cash or not?

Quote from: we-btc on April 17, 2024, 03:55:53 PM

Ordinals and Runes have taken over the news cycle. They have also congested the network and increased the fees to a level that Bitcoin is no longer a valid currency. When it costs $10 to $30 USD to send and receive Bitcoin in 10 minutes it is no longer an efficient currency. It is cheaper to use almost any other fiat currency or credit vehicle like Visa.

I'm glad you wrote this. You are right, Ordinals and Runes have taken over the Bitcoin blockchain and that will not end up well. I don't know why but there are too many people in Ordinals, half of mempool transaction is filled by Ordinals transactions and it's not going to end as it looks like.

Quote from: we-btc on April 17, 2024, 03:55:53 PM

Most people are buying bitcoin through 3rd parties like exchanges and ETFs and if people are using a 3rd party node instead of hosting their own node it is not a peer-to-peer transaction. All of these Bitcoin transactions are benefiting the 3rd party intermediaries and it is equivalent to the system we currently have.

It's not necessary to run your own node and many people can't afford that. Many people prefer to download lightweight wallet like Electrum and connect that to other nodes. We can't expect majority of Bitcoin users to run node but it's important to run it if we can.

Quote from: we-btc on April 17, 2024, 03:55:53 PM

All of these reasons lead to my question: If Bitcoin is not peer-to-peer digital cash then what?

When fees are low, yes and when fees are high - no.