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I was using bitcoin as a currency where I could in 2015. 'Seriously'. There were lots of restaurants, businesses, and even people who would accept it for paymen
by pcthrowaway 5y ago
I was using bitcoin as a currency where I could in 2015. 'Seriously'. There were lots of restaurants, businesses, and even people who would accept it for payment, and transaction fees were completely reasonable. There is a lot of corruption and perverse incentives in Bitcoin governance, and I don't use it or hold it at all anymore, so I don't know how feasible it is to actually use as a currency now, other than that the fees are out of control, but I think it's unfair to say 'nobody seriously did it'.
I think most of the people still tied to proof-of-work crypto despite the massive environmental concerns which have become obvious more recently, have switched to a variety of other platforms, bitcoin cash being the closest one to bitcoin (but without the block-size constrained, allowing basically fee-less transactions, though you still have to wait for confirmations)
For full disclosure, I don't hold or use any proof-of-work crypto now (other than perhaps Nano, which is sort of a hybrid that has very small proof-of-work performed by the user making the transaction, and proof-of-stake at the validation/confirmation layer)
- acdha 5y agoI was using “seriously” in the sense of enough volume to be inconvenienced if the system disappeared. There were a handful of businesses around here accepting Bitcoin but it was a small fraction of their sales and I believe most of them said they were converting it to USD immediately. I heard about this from a few people I knew who tried it but stopped because it was slow and they felt it was more profitable to hold Bitcoin. I’d be quite happy to have Visa/MasterCard see more competition but this didn’t seem like it was ever going to reach that point.