Over 8 years since launch, it seems people's motivations for buying / using BTC are still 1) speculation, 2) criminal activity
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It clearly doesn't compete with other payment networks. Not once has a bank said "we should lower our wire fees to stay competitive vs BTC"
And PayPal is still sleeping soundly despite its many flaws. BTC is simply not a payment network. It's a speculative token.
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Buying in, and 10 minute purchase confirmations are the biggest barriers to entry for BTC - LTC has a solution to the latter.
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Though currently, you're right that's what they are. An overnight switch from fiat was never expected, though.
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But criminal activity is a huge, huge market, no? Imagine Bitcoin being the de facto currency for all illegal activities. That'd be big.
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That’d kill any reason to promote it. Exchanges would either side with LEO to out criminals (bitcoin isn’t anonymous) or die (laundering).
End of conversation
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That's because it's still early days, network doesn't support mass use and currency is still relatively volatile
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At this point Bitcoin is closer to being the new gold than being the new PayPal but imo that'll change in a few years
End of conversation
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Read
@naval's 36 tweets on the subject. Brilliant. And this post: https://hackernoon.com/why-everyone-missed-the-most-important-invention-in-the-last-500-years-c90b0151c169 …Thanks. Twitter will use this to make your timeline better. UndoUndo
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Yep. Bitcoin can process 4 transactions a second. Visa does 1,700 a second, and is capable of 24,000 a second.
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Furthermore, everyone maintaining a ledger is massively wasteful, and Ethereum mining uses the electricity of a small country
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Do you think the same about ethereum?
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