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crypto- currency

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Written by   19
1 year ago
Topics: Bitcoin Cash

Satoshi Nakamoto's the Bitcoin whitepaper states that BTC is a peer-to-peer electronic cash. This indicates that BTC was meant to be a digital currency that no one is in control of.

A currency, as defined by investopedia, is a medium of exchange for goods and services.

Yes, Bitcoin can be used for payments in thousands of stores and online platforms. As bitcoin became popular, it became clear that its network can only handle a certain amount of transactions.

Bitcoin network congestion proves that Bitcoin is slow and have higher fees. If you want your transactions to be fast, you need to pay some extra for your transaction to be prioritized by the miner.

Bitcoin has no true world use case, unless your an idiot.

For instance, you are eyeing for a certain merchandise for so long and then suddenly it became discounted for 20%. Will you use bitcoin as a payment?

That 20% off would be eaten by the network fee causing you to pay the same price as the original or even causing you to pay more.

One thing more.

Look at the picture above. Imagine those people buying at a store. Will a sane person wait for that long line for too long?

A real cryptocurrency has a true world use case. Anyone should use it for their daily transactions.

So if you still believe that Bitcoin is an electronic cash for the world, better think 1M times.

Btw, thanks sir @MarcDeMesel for my first tip.

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Written by   19
1 year ago
Topics: Bitcoin Cash
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