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All reasonable criticisms. But it is very early still and you won't see many transactions for exchange of goods this early in its adoption. That's not to say th
by swader999 5y ago
All reasonable criticisms. But it is very early still and you won't see many transactions for exchange of goods this early in its adoption. That's not to say that BTC will eventually take over, it's just to say that the kinds of uses you see this early aren't predictive of its future.
- graeme 5y agoThere are fewer btc transaction opportunities now as transaction costs have gone up.
- wpietri 5y agoIt is not very early. I specifically gave comparisons for things that launched at the same time. And merchant adoption actually declined heavily for Bitcoin. It had a period where many online merchants and some offline merchants tried it out. Everybody gave up on that because it is not a good currency. That's when prominent advocates pivoted to "store of value" (which it is also bad at). For example: https://avc.com/2017/08/store-of-value-vs-payment-system/ https://avc.com/2017/08/store-of-value-vs-payment-system/ The whole "but look at the fuuuuuuuuuuture" routine was plausible early on. But at this point there's nothing but wishful thinking to suggest that there will be a radical change. Whatever it is, Bitcoin is what it is.