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Monday, 9 November 2020
Trying to wrap my brain around Bitcoin ... Honest dialogue, not trolling - please discuss with me
Hey all ...
I have been around since 2017 or so but never thought of BTC as more than a way to make more Fiat. Now I am actually starting to understand BTC for itself, and not as a mechanism just to make more dollars.
Just finished bitcoin billionaires and am now listening to 'the bitcoin standard' audiobook.
My biggest question : It doesn't seem like BTC is very effective yet at being used as actual money. In the bitcoin standard, at the beginning of the book when he is going through all the different currencies through out history, their primary purpose and function was the ability to be used for buying goods and services. BTC obviously meets many other criterias, and exceeds many such as gold, seashells, usd etc...
From what I can tell BTC is no more usable today than three years ago. What is being done right now to make it more usable? I think the network still clogs easily etc?
Will there be a day when BTC core increases the block size but does it in a way that doesn't create a war in the community like Ver did?
Or are we no longer trying to use BTC as day to day currency and only adopting the 'store of value' narrative?
These are genuine questions and I would appreciate non trolling genuine answers
Thank you
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For people who you do not know, 0 conf is important
Being able to trust a 0 conf transaction with bch allows us to use this currency with merchants we do not know. Can anybody say the same regarding normal bitcoin?
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source https://www.reddit.com/r/btc/comments/jqnm9y/for_people_who_you_do_not_know_0_conf_is_important/
/u/mrspencilvester accepts art commissions paid in Bitcoin Cash
I recently had a conversation with /u/mrspencilvester that ended up with me asking for a commission paid in Bitcoin Cash. We sorted things out regarding both the art and the payment, and I am happy with the result. Their instagram if you want to see more.
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source https://www.reddit.com/r/btc/comments/jqnese/umrspencilvester_accepts_art_commissions_paid_in/
Which exchange has the best fees?
I bought $4,000 worth of Bitcoin the other day on Coinbase Pro. I paid $20 in transaction fees and then I paid $45 in blockchain fees when I withdrew to my ledger. Why are the fees so expensive? Are there other exchanges that have lower transaction fees and also allow you to customize the withdrawal fee so I’m not stuck paying $45?
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