Bitcoin as a Currency It Will Happen

in crypto •  yesterday 

bitcoin value.jpg

Still to this day actully buying items with bitcoin seem far and few between. Bitcoin is mainly used as either a store of value which you get and hold or it's used for single large transactions that rarely happen. You also have the odd ball thing that comes up such as ordinals which you don't hear too much about anymore these days.

Also as we can see bitcoin mining has only become harder and harder as more people start mining it and companies continue to pile on their terahash mining. In fact a new system is due to release in November which will be over 800 terahashes! I'm curious what's going to happen to mining at that point as I have a feeling a lot more hash rate is about to hit.

The main thing here however is if Bitcoin will ever really be used as a currency. With expensive transaction fees at the moment other systems have been coming online like the lightning network to try and free that up. Things like Casa nodes etc have been used for a while but often with low capacity.

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While the post highlights the current challenges facing Bitcoin's adoption as a currency, it's important to remember that the technology is still relatively new. Ongoing developments in areas like scalability and user experience could significantly improve its usability in the future. It's worth keeping an eye on these advancements as they may pave the way for Bitcoin to become a more mainstream payment option