Who killed Bitcoin - Documentary.
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Nobody is using BTC to buy groceries. My bro bought a nice steak dinner in Vegas just to use some BTC up. But for the most part it's never intended for small purchases.
Just like nobody uses gold bars to buy a soda But both are a store of money.
And how is gold's market cap doing compared to global Fiat?
That is exactly u/FlyingScotzman s point. It was usable for groceries, but with "replace by fee", the slowness when lacking 0-conf (because of replace by fee) and the high fees, it is obviously not going to be used in normal commerce because that's how they killed it.
Read the whitepaper or go bust.
It was absolutely intended for those type of usages. The author (Satoshi) even wrote about vending machine examples.
I've never really thought about it until Roger Ver laid it out so well, Convenience is EVERYTHING, Gold has been a great store of value for 1,000s of years, but loses every time to central banks because paper money is so much more convenient. It doesn't matter if you only keep $2,000 in ur bank account for general spending and properly invest the rest. Whichever money is the easiest to spend is the one that people will demand their wages in, and thus the deepstate can rob us forever because wages are set using an inflationary currency. If we had wages set in a gold or crypto, deflation would give us automatic pay rises. Bitcoin was perfect in every way, A better store of value than gold because gold can still be mined long into the future, while equally matching Fiat's usability.....until the fees started to prevent casual spending. Just a few months ago in April, Bitcoin's fees went up to $10+ again for 3 weeks. u/N0rds
Satoshi described how zero conf will work for vending machines, and the white paper says "small casual transactions".
Satoshi didn't even want the 1mb block limit, it was Hal Finney's idea, and Satoshi only agreed because it was a good temporary measure to prevent a spam attack while Bitcoin was vulnerable in it's infancy. Satoshi also wrote how the block size should be increased with advances in hardware.
It can be phased in, like: if (blocknumber > 115000) maxblocksize = largerlimit