Re:Blockchain, the Solution for Almost Nothing
by aww_dang on Sunday August 23, 2020 @04:17AM
(#24250461)
BTC is a poor candidate for day to day transactions. I'm not sure it can ever reach that level of adoption under the current conditions. Lightning network has been a Rube Goldberg machine of complications.
There are other altcoins like NANO which are a better fit for actual transactions.
Agree that there's no way to reach a 100% homogeneous cryptocurrency economy and that exchanges are necessary. As an example, taxes are always paid/priced in the state's currency. Even if we could reach that point, I doubt it could be done by an entire economy switching their billing over to BTC overnight. Exchanges facilitate adoption.
There are other altcoins like NANO which are a better fit for actual transactions.
https://www.youtube.com/watch?v=iVNyr4Q3jq4
Agree that there's no way to reach a 100% homogeneous cryptocurrency economy and that exchanges are necessary. As an example, taxes are always paid/priced in the state's currency. Even if we could reach that point, I doubt it could be done by an entire economy switching their billing over to BTC overnight. Exchanges facilitate adoption.