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People use Bitcoin to protect their wealth from inflation/debasement. It’s easier to own and protect than gold and real estate, easier to transact, etc. Whethe

• imtringued 6y ago
  >Whether it’s widely used as a currency is irrelevant to whether it can be. It's not used as a currency because of transaction fees. I still remember Steam pulling support for bitpay because people couldn't get their transactions through fast enough because the fees exceeded the value of the transaction. By the time the transaction went through the value of the Bitcoin has changed and you had to send the missing amount in a separate transaction. You pay $5 transaction fees to pay for a $50 dollar game and then get told that you are missing $1.25. Sending the missing money costs $6.25. A refund costs $5 in transaction fees. On some days the transaction fees were well above the value of the game so you could not do a refund even if you wanted to. Paying $55 to refund a $50 transaction doesn't make sense. Paying $56.25 to transfer the missing amount doesn't make sense either. Your money is just gone and you didn't even get a game.
• deleted 6y ago
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