Quote from: bitmover on August 05, 2024, 02:10:59 PM

Quote from: moonie on August 05, 2024, 10:36:58 AM

It seems Bitcoin Core has embraced the digital gold narrative, which fails to achieve the original goal of P2P electronic cash. Do these developers really know better?

Don't you see hundreds of people using bitcoin as a p2p payment method here every day for the last 10 years? How come it failed? Lol

Bitcoin is also important as a reserve of value to protect against inflation. It is both.

In my opinion, Bitcoin has not become a new popular means of payment.

At the same time, money has two most important functions - the first is payment, and the second is savings. Bitcoin, it must be admitted, does not perform the payment function well. There are many reasons for this....

Bitcoin has a technical limit on the number of daily transactions (about 300,000). This is too little for 8 billion inhabitants of planet Earth to use it to buy goods, work, services. In addition, in many countries of the world, the use of Bitcoin to pay for goods, work, services is prohibited by law. Governments do not want Bitcoin to become a competitor to national currencies.

There are many other reasons why people rarely use Bitcoin as a means of payment (high price volatility, difficult to predict the size of miners' fees, an alternative in the form of stablecoins, etc.)