Now here me out.
Are you ever going to buy a pack of gum with Bitcoin?
NO.
Why?
- It'll cost way too much in transactions fees.
- You don't need the transaction logged in the blockchain forever.
- The fucking confirmation process takes too long!
Really why would you want a transaction for pack of bubble gum stored in a blockchain?
Are you going to stand in the store for 30+ minutes waiting for your transaction to confirm so you can buy that pack of gum?
The Bitcoin protocol has been updated and patched to try to solve all these issues numerous times, but nothing will ever fix the issues with transactions fees and the blockchain being a permanent record.
How big is the blockchain now anyways?
149+ GIGS??
https://www.statista.com/statistics/647523/worldwide-bitcoin-blockchain-size/
Bitcoin is completely unsustainable.
Blockchain is great for somethings but not as currency.
Check out SAFE Coin.
Instant transactions and anonymous.
The upside of not being blockchain based!
https://blog.maidsafe.net/2015/01/29/consensus-without-a-blockchain/