At this point there seems to be hardly any support for either Segwit or the Lightning Network.
Without those, Bitcoin is only a store of value.
And when I refer to Bitcoin and a possible slow death, I of course only refer to Bitcoin Core, it's slow processing speed and high tranaction cost, which makes it useless for micropayments and leaves only the function of a store of value.
At this point, Bitcoin Cash and Litecoin seem much better solutions for micropayments.
In the end it all comes down to support... for Segwit or the Lightning Network to be even an option, first the major wallets need to support it. Once they do... mechants need to support it.
Yes, you could argue that it needs to be the other way arround. But on the free market, merchants will implement what gets them more customers. If the customers can't pay them a certain way, why implement it as a merchant?
What are your thoughts on this topic?
I, as a merchant, have added Bitcoin Cash, Ethereum and Litecoin as payment options that allow our customers to save on transaction fees and speed up the ordering process on all payments, including micropayments.
As a merchant, the Lightning Network is still no viable option... maybe in the future?
I just read this: https://steemit.com/crypto-news/@followbtcnews/daily-crypto-digest-breaking-news-btcp-snapshot-date-and-fork-date-announced-during-conference
What are your thoughts about it
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Fairly obvious statement of fact, Bitcoin is dead as an easy to use currency.
However, if you think about it, gold is a fairly dead currency as well being so cumbersome and hard to move around. But it's still pretty nice to have some.
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Totally agree, try to get change on a Gold coin or carry arround 500 ounces of Silver without prior body building training. ;)
Still, of course owning all 3... Silver, Gold and Bitcoin makes sense for the store of value.
But what we need is a medium of exchange that makes sense and that doesn't inflate ayway into nirvana as fiat does.
Bitcoin Core was good until the hostile takeover by bankers that these day pay the majority of Bitcoin Core develoipers.
Can we Make Bitcoin Great Again #MBGA with Segwit and / or Lightning Network support? Or did it go the way of the dodo in regards to being viable for micropayments?
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I don't see Bitcoin moving back towards the realm of currency ever again. Everyone I've talked to has moved their hopes to BitcoinCash.
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Frank, with all your knowledge and experience, why don't you post here more? We need you here on Steemit!!!
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Guys, have you heard about eBitcoin, is the eBitcoin community only dreaming or do they really have something...? I really like the eBitcoin name and the 21,000,000 EBTC total supply ;-)
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