Bitcoin is the first cryptocurrency in the world. It opened a new era of fintech and cutting-edge technologies base on blockchain. With the unbelievable increment in past 3 years, bitcoin’s price was almost reaching 20,000$ in past few days (about 18,200$). And its price be predicted to increase to 200,000$ and more. Cause’s Bitcoin is limited in 21 million BTCs, and this can be all mined in 2019.
That price can make everyone feeling lust. But holding a while, how make bitcoin step into the real world. How can you use Bitcoin to buy a beer, a coffee, a MacDonald’s burger. I mean the fee for a single BTC transaction now is too expensive (5$-10$). You can imagine that you use BTC to buy a 10$ coffee and pay additional 5$ to confirm that transaction. Oh my god, is that real?
Yes, of course you can say that you will use BTC to buy very higher value things. But who is owning BTC? Not too much. About 1000 “whales” is staking 40% of BTC. And how you think billions people in this world may got a chance to own BTC? Not. It cannot become a type of “money” where each person can approach and use it in regularly day expenses.
Ofcourse, BTC can be possible compared to gold or even diamond. But they all are not “cash”. Who used to use diamond to buy a kilogram of vegetable or meat?
With me, everything is useless if it cannot help me to buy a beer directly.
Is there a way to enhance this? Yes, but it needs a massive consensus from the bitcoin community, that is: stop the current network, increase total of BTCs to be issued , then the price per each BTC is lower, but the total value of holder is not changed, and the transaction fee is lower naturally.
This is my point of view about Bitcoin. Welcome all comments and advises.