Post
Topic
Board Bitcoin Discussion
Merits 1 from 1 user
Re: El Salvador has become the first country to make #Bitcoin legal tender! 🇸🇻
by
tvbcof
on 17/01/2025, 03:00:46 UTC
⭐ Merited by JayJuanGee (1)
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Quote
Bitcoin cannot just take over the dollar without systems building and people getting used to it.

Yes, people need to "get used to" transactions taking up to 30 minutes to transact, and cost up to $30.

In my opinion, nobody is going to "get used to" that. Bitcoin is absolutely inappropriate for 99.99% of the world's transactions.
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A few months ago I managed to get some of my 'old money' out of my bank in the US to buy a new car.  (I just want to spend some of it before the USD collapses.)  There is no way to contact any bank persons since the only option is an old-fashioned telephone call and usually one waits an hour then the bank's automated system hangs up on one and overseas long distance rates are outrageous.  The bank switched over to 'Zelle' after I left, so wires are no long available, and Zelle demands a U.S. _CELL_ phone number before one can even start to try to use them.  The number must be from a contract phone which I cannot even get without going back to the U.S. as best I can tell.  If you try to use a paid number they detect it and cancel you.  Thankfully I had some old-time paper checks so I was able to move some money to a foreign bank although it took many trips to the bank and about 3 weeks of time.

So, yeah, I could 'get used to' 30 min and $30 rather easily when I have to use L1 BTC which is rare since L2 BTC works great and solves the possible future problems which we have been promised by 'experts' were 'weeks away' for a decade.

I've been arguing for a decade that L1 bitcoin sucks as an 'exchange' currency and probably was never intended to be used as such.  To the degree that 'Satoshi' might have advocated it, he was probably being a bit deceptive in order to obtain mindshare back in the early days.  As I and others argued, L2, when developed, would resolve these issues while bolstering L1 instead of destroying it.

My side won the 'blocksize wars', and exactly what we predicted would happen did in fact happen.  All the thousands of boo-hoo-ing shit-coiners can do now is to spew fud and spam and hope that they can fool the segment of the masses who are to lazy or stupid to understand things with word-salad bullshit.  Sometimes it works and sometimes it doesn't.