I have stated for a number of months that bitcoin is not too expensive or two slow a network for transactions. People need to realize that the coffee purchases ie credit and debit cards, account for only a small percentage of the total money transacted (in terms of dollars). When you look at a building like this selling, that is a lot of cups of coffee.
So is BTC too slow and expensive for this? Do you think the people involved cared about a hundred thousand satoshi as a transaction fee? Or did they care that it took a couple of hours to complete? How long would it take a bank to clear that much money and what would they charge? 5%? 3%? Whatever the number, it is a lot more than BTC.
This is also great news. The more we see Bitcoin being used in transactions, the more "real" it becomes to people. There will be millions around the world who will read this story in all the different publications that write about it. To them, BTC might have been something mysterious, now it is less so.
People will start seeing this as a viable alternative and actual payment method.
That can only help in the acceptance of cryptocurrencies in people's minds.
Right, and once other currencies are being used with smaller fees we are going to see purchases on lower priced goods as a more normal occurrence. I don't doubt Japan will be the first to widely adopt this payment method.
That could be the case. They might move away from their fiat very quickly. Japan was always a strange nation...centuries behind in some aspect....cutting edge game changers in others.
They, overall, are a technological nation so embracing a technologically driven form of currency makes a lot of sense. Also, since they do not have the natural resources of other countries, they have always had to be a bit more innovative and creative to keep pace.
I believe a country like that only adds to the move that is underway. In the end, crypto is going to win out...because decentralized blockchains are just too powerful.
Exactly, I was watching Parts Unknown for Tokyo and was blown away by the amount of artificial light, they are all about the tech, so I could see them increasing the rate of adoption as they see the advantages. I'm pretty grateful to be in this space this early, I was debating over summer and then took the plunge in December, once I learned about the advantages I put my trust in the technology, and steemit is where I'm putting my free time :)
I think you will be well compensated for that decision.
Technology is taking over the world. All sectors on the stock market are proving this. The best stocks to own are either the tech companies or the ones in traditional industries that are implementing technology into their businesses.
Crypto is just technology introduced to money and finance.
The blockchain is going to upend a lot of stuff....this will be a real game changer for many industries....and people.
When the lightning network is ready, nay-sayers will have to suck it up once again.
Agreed...that could be a major game changer for BTC....will help to eliminate some of the attacks on it.
I believe lightning network is already on LTC...so it should put it on par with that.
it is already in test work with BTC. They are going forward very fast, so I don't think it will take too much time.
Yeah from what I read they are actually trying to slow things down. It is in testing yet some are moving ahead with it anyway, unproven.
So the BTC people have been itching for it.
Hence I agree, it will move fairly quick.....multi sigs could also aid in the performance of that network.
Yeah I agree with u bro and you got it.