GUYS WHAT ARE BITCOINS USED FOR IN THESE DAYS, WITH FEES SO HIGH?

[btemtd]

I would love to know what the actual use cases for bitcoin is, can you buy a meal with it? Example 1 meal $10 how is can this happen with fees so high, like seriously wondering what is bitcoin used for outside the darknet .

Do people accept 0 confirm txs ? I can see how this may be worth while to purchase a meal or anything under $1000

Thanks guys

[xhomerx10]

I would love to know what the actual use cases for bitcoin is, can you buy a meal with it? Example 1 meal $10 how is can this happen with fees so high, like seriously wondering what is bitcoin used for outside the darknet .

Do people accept 0 confirm txs ? I can see how this may be worth while to purchase a meal or anything under $1000

Thanks guys

  Have fun staying poor.

[Darker45]

If you want to buy a meal worth $10 and the fee is almost equivalent to that, then it means Bitcoin must not be for that purpose. At least for now. But that does not mean either that Bitcoin is therefore fit only to the darknet. When I was working overseas, my choice of cross-country remittance was Bitcoin. It was fast and cheap.

Outside of it, you can use Bitcoin as a keeper of your wealth. That's a lot better than fiat. Fiat decomposes; Bitcoin doesn't. Or perhaps you may want to use it as an investment. In terms of price appreciation, Bitcoin is the best performer.

0 confirmation means the transaction is not valid yet. Literally, it means it hasn't been confirmed, so why would people accept it?

[dansus021]

simple of it exchange to another coin and then start buying using another altcoin like ethereum if still expensive pay with cash tho hehehe as simple as that

i heard about lightning network in bitcoin and in my opinion bigger company like paypal whom started adopted bitcoin will make bitcoin payment simple just like digital wallet WeChat Pay or another payment like netteler or u can using neteller card and deposit some bitcoin for daily activity

[acener]

If the fee is too high for you then use other crypto with smaller fee as simple as that.
Most of us who doesn't have anything to do with it would just hold it.
Besides if some stores would accept it as a payment then the users then they would provably use a wallet that would make the users pay with less transaction fee.

[btemtd]

I hold btc and am fkn shocked at the price its almost looks ridiculous, I don't want it to go down OBVIOUSLY i remember in the earlier days there actually used to be use case, now its simply just something people buy to hold and hope it goes up. And the funny thing is thats exactly what its doing, I'm just worried people are going to realise geez wtf am I holding what can I actually do with it other than a way to send money overseas  or maybe hide some money from a wife lol. I think yes it is a way to get out of the dollar inflation but yeh it would be a benefit to actually be money 2.0.
I agree though its an easy way to access the alt market where there are actually coins that have the functionality OF MONEY 2.0.

My question is what have been the developments in bitcoin are the.devs working on ways it can actually be better than using real money and never turning back.

Reason I asked about 0 confirms for small things is because I've never had a low fee confirm be rejected I've had it take 4 days to get confirmation though lmao.

[btemtd]

I really hope lightning network takes off,

www.coindesk.com/kraken-exchange-integrate-bitcoin-lightning-2021

Like its there why aren't exchanges adopting it, that way consumer wallets will also and then many retailers will start accepting it again but this time it will accepted a lot more than the old days. Since the only thing stopping retailers is the cost of transacting with btc for everyday purchases is not worth it when you have cheaper options using a Visa card

[ranochigo]

My question is what have been the developments in bitcoin are the.devs working on ways it can actually be better than using real money and never turning back.

Plenty. Privacy and efficiency enhancement of multisig for example.

Reason I asked about 0 confirms for small things is because I've never had a low fee confirm be rejected I've had it take 4 days to get confirmation though lmao.

It wouldn't help if the main problem is with the timeframe that it gets a confirmation. Merchants used to accept 0 conf transactions because the risks of it being double spent was relatively low in the past.

Like its there why aren't exchanges adopting it, that way consumer wallets will also and then many retailers will start accepting it again but this time it will accepted a lot more than the old days. Since the only thing stopping retailers is the cost of transacting with btc for everyday purchases is not worth it when you have cheaper options using a Visa card

Lightning network is ideal for smaller payments and it still relies on the user to open their own channel in order to transact. It'll also mean that there is a limited inbound capacity if the user is new and thus wouldn't make it viable for people that deals with larger transaction infrequently. Some smaller merchants has already adopted lightning network and it has provided more benefits for smaller transactions than those bigger ones.

** Lightning can alleviate the problem but it won't solve onchain scaling if and when Bitcoin gets an even greater adoption.