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> I'm hoping it can still be used to send $5 to someone and just have it take days to arrive Here's the thing. Why would anyone want to do that? 1. First worl
by cocktailpeanuts 6y ago
> I'm hoping it can still be used to send $5 to someone and just have it take days to arrive
Here's the thing. Why would anyone want to do that?
1. First world people living a privileged life: Why would any idiot in this category send $5 and wait for days to arrive when they can just use Venmo or all kinds of upcoming payment systems from the big tech cos like Google, Facebook, Apple, etc.?
2. People in non first world countries: Bitcoin can only facilitate 1MB of transactions per block. The poor people will be priced out of ever using Bitcoin if Bitcoin was used for transactions. These people won't use bitcoin, they will use whatever that's cheapest. Even the ones who "store" their value in Bitcoin will never use Bitcoin for transactions, just for storing.
- sushshshsh 6y agoHmmm, definitely you're right... Even if I was to have 0.002 BTC or whatever in my wallet file, and I just gave this wallet to my friend for him to spend, he will still face this issue of fees when he goes to spend it. The issue is that Bitcoin is much more liquid and legitimate than other coins like Litecoin or Ethereum, which are technically more fungible but not accepted in as many places.