#4.0 - Is Bitcoin doing it's job?

cryptos17 (54)in #bitcoin • 7 years ago (edited)

The short answer: Yes...

And here's another reason why...

Recently, I was travelling between countries, and I didn't have a Credit Card with me (why is an entirely different story, so I'll save that for another time).

All I had at the time, was cash, so I headed to a counter I haven't been to in a while; a real life currency exchange.

Now - the currency I wanted to exchange has a ratio of app. 8:1, so on my way to the till, I calculated what I was supposed to get for the exchange... And I got all excited seeing the "no fee" sign. But trotting up to the counter, I found out that the rate they were prepared to issue was about 10:1 (but at least they didn't charge fees!)

In all fairness - noticing my astonishment - the lovely little lady behind the counter, did say; "we want to keep you as a customer, so let me see what I can do" - and "lowered" it to about 9.5:1 - that's when I laughed and walked away and found the nearest bitcoin ATM, which luckily wasn't far away, and MADE money on withdrawing, since bitcoin has been on the rise lately - not that I need to tell you that.

So, sure, Bitcoin has its issues;
- Network congestion
- Spam transactions
- Volatility, and a variety of technical difficulties, that needs to be adressed.

But so has any developing technology!

Even today, with the speed of innovation in technology, I struggle to find a technology, that has reached its final stage of development and being free of any bugs.

One of the biggest questions that keeps confronting me, mostly from outsiders of the space, is; "why is BitCoin so much better than the current financial system?", "what does it do that I can't do already?"

And we tend to fall back on the "cliche" arguments of; "banking the unbanked" and "decentralizing finance" - but let's be honest - these arguments don't bite on people who are not affected by these issues.

They have access to the international banking system, and fee's are nominal to most westerners.
And we'll pay for that convenience.

Not that there is anything wrong with paying for convenience - afterall, that's what we do when we pay a bitcoin fee, isn't it? But that convenience should be available to any and everyone!

And that's just the easiest argument to set forth - and only an argument; not a widespread usecase... yet!
But that's not to say that usecases don't exist for the rest of us as well - whether people realize it or not.

And that's the hardest thing to convey, when trying to explain why Bitcoin is for everyone - and not just for serving the unbanked or fighting corruption.

There ARE everyday usecases for "the rest of us" as well... We just need to find them, use them and improve them.

All Bitcoin needs to succeed as a payment method, is US!

Don't just HODL guys - spend and refill!

Brevity is the soul of wit - and longevity the soul of the contemplative!