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Author Topic: Is Bitcoin the AOL of crypto?  (Read 374 times)
TravelMug
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December 16, 2018, 01:38:02 AM
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 #21

I am also a great fan of BTC but to tell the truth I find this question a bit difficult. To my mind, it is not the AOL of crypto but maybe it will be with time as I believe that 2019 will bring changes

It's really hard to compare bitcoin and AOL. What's the point? AOL has died down because of competition? No, AOL died because of the incompetency of the management, believed me I know everything because I used to work with them.

As for bitcoin, there's LN that will help about the fee's and scaling issue, its been slowly adopted so if the OP's problem is about the fee's and scaling and the fundamental flaw then perhaps LN might be the solution in long term.

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bitfocus
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December 16, 2018, 12:08:47 PM
 #22

nope, but it;s the mother of all crypto.
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December 17, 2018, 10:30:08 AM
 #23

I don't see why OP has an issue with the necessity for data to be sent to the blockchain via the internet each time he purchases a packet of gum.
I always use my tap to pay debit card to pay for goods, even if it's just a €1 item. I don't care how the payment gets settled, I just want it to settle in a matter of seconds because that's the most important part of money's usability.

I see more and more stores completely discard physical money because people aren't using it that often anymore. I have even seen vending machines adapt by allowing people to only use their debit card or smartphone to pay.

The negative effect of this is that you exclude a layer of the economy that is still settling transactions with physical money. In other words, progress has its side effects and these side effects aren't easy to work around without guidance.

Right, and how would that near instant settlement be different with bitcoin if there were to be scaling in the future? That's where the disconnect is for me, perhaps i'm just missing something.

As for the debate on cash, I was actually posting on a thread about that, I'll link it. I won't say too much more but you'll see my posts over there kind of outline a similar opinion to you. The time will come to transition to a fully digital form of payment and the removal of cash but that time does not need to be rushed. It's happening as it is and cash is still legitimate enough and useful in certain situations. There's no need to alienate people who don't feel the need to transition.

https://bitcointalk.org/index.php?topic=5084135.0

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