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I spend Bitcoin. "If you want to actually USE bitcoins right now, you can't." Wtf are you talking about.

• max_ 9y ago
  Can you send me $0.5 with $1 in your wallet?
  • andirk 9y ago
    Can I send? To you? No. It's my coinage.
    • vitaminbandit 9y ago
      No, you can't send it because you wouldn't have enough to cover the transaction fee.
      • Jenya_ 9y ago
        He can send transaction with $0.5 fee, but it is very close to the lower level limit. The link below shows that median sized transactions with $0.5 fee (about 75 satoshi/byte) have a waiting time up to 24 hours at the moment. https://bitcoinfees.21.co/ https://bitcoinfees.21.co/
• tjpaudio 9y ago
  Consider the scenario where I don't already hold bitcoins, but would use them for a transaction. It is very possible that by the time I obtain them, then go to make a transaction an hour later, that I could lose over 10% due to fluctuations. It's not that I physically can't, its that I would be stupid to rely on bitcoin as an exchange of value when there are other options with less volatility. Yes bitcoin and cryptocurrencies are in their infancy and inherently volatile at this stage, but the volatility until now has been lower such that we are willing to accept losing 1-2% in a transaction for the perceived value of transacting in bitcoin over a fiat currency. With volatility at these levels, that value proposition goes out the window. Adoption of a currency is always a function of how stable it is as a store of value, and wider adoption is what sustains a higher value. Speculation is not able to sustain a higher intrinsic store of value, hence my hypothesis.