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RE: Bitcoin as a form of payment or an asset. What's the most appealing to you?

in #bitcoin6 years ago

This is a very contagious issue.

In my opinion, Bitcoin was always about payments. The success of Bitcoin hinges on it going mainstream for payments.

At the other hand, there is the 1MB block size limit, it puts an upper limit on the transaction flow, if Bitcoins are really used for payments by a critical mass, transactional fees will be insane and only a few transactions will actually go through.

Sometime around 2015/2016 the community started splitting, one part of the community wanted bigger blocks, the other part didn't want bigger blocks. We saw a huge and very dirty propaganda warfare.

One of the magic tricks used was to redefine Bitcoin from being a means of payment to being an asset. History was slowly rewritten, Bitcoin was never intended to be a means of payment.

In my opinion, the value of bitcoins hinges on its potential usability value as a means of payment. For the "asset" usecase - or, rather, "speculative asset class", I think Bitcoins are as usable as tulips.

The "small blockers" won the propaganda war, and we're stuck with small blocks forever. I'm concerned that we're losing the war against fiat due to the causalities and fragmentation we've ended up with in the block size war.

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