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Bitcoin can be used however people want. People are certainly using it. Over 162,000 transactions have been sent today, basically all of them with a fee (mean

Bitcoin can be used however people want. People are certainly using it. Over 162,000 transactions have been sent today, basically all of them with a fee (meaning people actually were willing to pay to use the service). Even on a slow day, hundreds of millions in USD are transacted through Bitcoin alone. And plenty more through Ethereum. There are tons of use cases for crypto-currency as a transfer of value. Eventually, there will be more stable coins, there will be instant (or virtually instant) transactions, and the cost to send a transaction will be virtually 0. That's the future of crypto-currency, and you'd be insane to think that once these basic milestones are achieved, that it won't serve any purpose. It's a work in progress, but there are definitely people using the service as is right now for considerable amounts of money.

annabellish 8y ago
To what ends? There's no indication that those transactions are being used to fulfill any kind of purpose, and plenty of hints that many of them are spam and intentional churn. If nobody is buying anything, nobody is transferring money cross-borders, and no previously-unbanked people are being banked, then what are these transactions for? Nobody seems to _know_.
- bitreality 8y ago
  I can't tell you what every person uses it for. But I can say for certain that it is already being used to transfer money cross-border. And I can say for sure that people use it in nations like Venezuela, where the banking system has failed. How do I know this? I run a business which buys and sells digital items for online games. Every single seller from Venezuela is looking for BTC. Most sellers from Kosovo as well. And tons of people are asking for BTC in general. The majority of $500+ transactions in the industry (often B2B) are done in crypto.
henrikschroder 8y ago
> Bitcoin can be used however people want. I can't pay my rent with it, I can't pay for groceries with it, I can't pay my taxes with it. Those are things I want.

annabellish 8y ago

To what ends? There's no indication that those transactions are being used to fulfill any kind of purpose, and plenty of hints that many of them are spam and intentional churn. If nobody is buying anything, nobody is transferring money cross-borders, and no previously-unbanked people are being banked, then what are these transactions for? Nobody seems to _know_.

bitreality 8y ago
I can't tell you what every person uses it for. But I can say for certain that it is already being used to transfer money cross-border. And I can say for sure that people use it in nations like Venezuela, where the banking system has failed. How do I know this? I run a business which buys and sells digital items for online games. Every single seller from Venezuela is looking for BTC. Most sellers from Kosovo as well. And tons of people are asking for BTC in general. The majority of $500+ transactions in the industry (often B2B) are done in crypto.

henrikschroder 8y ago

> Bitcoin can be used however people want. I can't pay my rent with it, I can't pay for groceries with it, I can't pay my taxes with it. Those are things I want.