[bootsnixon]

Thanks for the responses Itse, AFC and Topfive.

Itse, you cite transaction speed, price and btc value instability as deterrants. All good points. You forced me to do research!

If I may use El Salvador as an example, they encouraged their residents and businesses to use Chivo bitcoin wallets. All transactions between Chivo wallets are instant and free. Chivo wallet operates on the Bitcoin Lightning Network ( or maybe Algorand blockchain or maybe entirely off blockchain with simple accounting software. Internet research is hard,lol.) The Lightning Network is able to perform in the millions of transactions per second. For reference, a cursory search indicated Visa handles 65,000 TPS.

As to the price fluctuation, I agree, it is a problem. But it seems in theory to me, if (and that's a big IF) bitcoin adoption continues, price fluctuation should stabilize. Would you agree with that?

AFC, I'm not sure I understand your comment. Isn't divisability a good thing? If you had one huge potato to feed your family of four but no knife, you could only feed one person. If you divided the big potato into four with a knife, you could feed all four. You would still only have one potato though. Could you expand on your thought please?

Topfive, agreed that real estate has strong use. I tried to explain upthread that Bitcoin has utility as an inflation hedge. Jason14 did a better job of showing crypto's utility as a currency. I don't think we've discussed enough the ability of crypto to bring banking to people currently unable to access it. I think it has the potential to have strong utility to people outside of first world countries.

As to Bitcoin's old tech being surpassed by newer crypto's I agree. Bitcoin has some advantages though. Being first to market, it is currently the most adopted crypto. It is one of very few that is finite. Most importantly, it is, by far, the most decentralized crypto.

I think it boils down to a decision. Does one take advantage of Bitcoin's unique advantages and try to improve upon it's old tech (Lightning Network, layered transactions, atomic swaps, etc)? Or does one choose a newer tech cypto or build their own blockchain crypto? I think the answer will be different for many different people.
It seems clear we are moving to digital currencies in one manner or the other.