With this post I hope to start some discussion about Bitcoin as a method of payment.
So please leave a comment with your thoughts or answers to any of the questions.
Money or commodity?
I like the free market, I like Bitcoin, and I like forks but since the fork and now after SegWit, I have questions about the future of Bitcoin, not its value but its form. Is it still a Peer-to-Peer Electronic Cash System, with emphasis on Cash? Satoshi did not call it Electronic Commodity System... It remains the most accepted crypto-currency as payment in the world but could that change?
Damn you SegWit!
I've been waiting for SegWit, hoping for lower transaction fees and faster confirmation time.
This still didn't happen... After trying some transactions the fees felt like I was getting robbed and/or still had to wait for hours...
Will transaction fees lower like promised, maybe after the SegWit dust has settled?
Bitcoin Cash?
I'm considering not using Bitcoin for small payments and shopping, the fees are killing it... But what is the alternative? Should I start using Bitcoin Cash instead? Some say this is now the real Bitcoin as Satoshi intended... I'm not sure about it's value and as a payment system I think it has a long way to go.
Maybe there is a better Electronic Cash System in the crypto-ecosystem that is gaining widespread adaption, has low to no fees and fast transaction time, Ethereum, Dash, Monero, Litecoin?
Crypto Debit Card
The best solution for making payments with crypto-currencies I've seen so far are Crypto Debit Cards. I don't have one yet but I got my eye on TenX. It has a wallet that supports more than one crypto-currency with a card that is usable as a credit card, and an app that let's you decide wich currency to use, and no transaction fees! I think that is pretty cool! If someone could share his/her experience with it?
Resources
https://bitcoin.org/bitcoin.pdf
https://en.wikipedia.org/wiki/SegWit
http://segwit.party/charts/
https://news.bitcoin.com/bitfury-mines-segwit-block-larger-than-1mb-as-bitcoiners-wait-for-network-relief/
https://bitinfocharts.com/comparison/bitcoin-transactionfees.html
https://www.coindesk.com/segwits-slow-rollout-bitcoins-capacity-hasnt-seen-sudden-boost/
https://steemit.com/bitcoin/@blockrush/operation-white-elephant-five-reasons-why-satoshi-could-have-deserted-bitcoins-to-create-bitcoin-cash-blockrush
http://mashable.com/2017/08/28/bitcoin-transaction-fees/#UEhbTn4FNkqq
https://www.tenx.tech/