0 sats \ 6 replies \ @028559d218 OP 13h \ parent \ on: Being a HODLER sucks. it's not what people think it is bitcoin
It's not perfect. It's nowhere near flawless.
But I remember, quite vividly as a matter of fact, the Starbucks I paid 5$ for that was only 3$ just a few years ago and it's like...
Yes BTC isn't perfect but it's good enough and it's the best, PoW decentralized blockchain. I live in the real world, and to the extent Bitcoin/any blockchain is adopted for real-world payments, spending and saving Bitcoin is far, far ahead of anything else. Nothing else comes even remotely close.
I'm sorry
The issue is the large majority of the world does not give a fuck about it being decentralized. Nor do they care about anonymity. They will take one look at the fact it costs money to transact (50 cents may be small to you but to others especially those in poverty it's a turn off, and lightning still has SOME fee, even one sat is too much) and say "why would I pay to transact this when I can pay in fiat for free?" They'll also say in regards to layer one, "why would i want to wait an unspecificed amount of time hoping my tx is confirmed when i can transact in fiat instantly?"
Do you get it now?
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No you are incorrect sorry.
Nothing in the world is free.
The money you keep in the bank... it is not free either.
I moved money from my savings account to checking account and the bank charged me 30$ to do it. I was only allowed to make 4 transactions a quarter of this kind... and the 5th was 30$.
After that I said screw this and went all in on Bitcoin.
Take a trip to your local grocery store, take one look at the prices compared to 3-4 years ago and it's obvious why we need Bitcoin. Government money, even the Dollar which is probably the best one, is just a promise and a piece of paper.
With regard to transaction fees, especially on lightning, and with regard to waiting times... nothing in the world is free and nothing in the world is perfect.
Bitcoin just happens to be undervalued as the least dirty shirt, in a world of dirty shirts and I believe eventually the world will figure that out.
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LOL WHAT BANK ARE YOU USING?!
I've had bank accounts with numerous banks both physical banks like fifth third, Huntington, independent, ect, and online bank accounts like chime, varo, Moneylion, ect. If your bank is still charging you to move money between your own accounts you are getting flat out robbed. No ifs ands or butts. No physical banks even charge you to do that, that I know of, so your story smells fishy.
Also, almost every bank doesn't even charge overdraft fees anymore, and 95% of online banks will front you money as long as you have direct deposit set up into that account without charging you a fee or interest. Get with the times.
Seriously though, if you're being charged to transfer $ between your own accounts and theyre limiting how many times you can do it, switch banks ASAP. I recommend one of the online banks like Moneylion or chime. Both are extremely reputable, offer amazing customer service (Moneylion has 24/7 customer service), and will not charge you a dime to move money, even to an account at another bank! It would just take a day or two before it arrived.
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If you aren't a fan of Bitcoin then just... don't use it.
As a matter of fact, I am extremely open to criticism, especially about Bitcoin as it's not perfect. It's an imperfect solution for an imperfect world.
But the fact that you're here, posting up sats, on a website designed around Bitcoin, as people send and receive sats to each other... says a lot sorry.
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I've been here since the early days three or so years ago. Check my profile. I actually am a fan of Bitcoin, I just want it to be better in all forms and I just see it without blinders on, here in reality. And in reality there is almost no chance of it becoming universally adopted by a large majority of the world for every day transactional use to pay for goods and services. It's the truth.
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I think saying there's 'no way' something can happen... means it's impossible. Nothing is impossible. Unlikely sure, but not impossible otherwise a possibility is 0%
I think there are some misnomers here, and they're worth pointing out even if some disagree with me.
For example, you said 'large majority of the world'. And I would agree.
The vast majority of the world's wealth is in Western countries, plus Japan and a little BRICs.
But mostly Western countries.
I also think that Bitcoin being a bank account for everyone, from billionaire to peasant is unrealistic. The target audience or market, if you will, is people with at least 500$ in a bank account. Which rules out the vast majority of India and even parts of South America for example.
Add to this people who, for whatever reason, don't use smartphones and electronics or digital banking, and that number is even smaller.
Ultimately Bitcoin is targeting people with at least 500$ of assets to save, can use a basic smartphone, and have access to basic infrastructure (power, electricity, civil infrastructure etc). I think that is much more realistic.
However it's still a MASSIVE number of people. Even if it's only 2-5% of the World's population routinely using it, it's a very significant percentage of people where the resources are - the 'West'. Which means a lot of value transfer it's really important.
As far as the majority of transactions... it doesn't have to be. But let's say it's 5%. or 10% or even 20% any of these numbers are absolutely massive. And why not? Lightning is very, very quick and with low fees. Add to this the inevitable abstractions, including custodians, ETFs, shared funds in businesses and family offices, family accounts etc... and the number of people using Bitcoin and being affected by it scales massively.
Remember that Amazon started selling books in 1995... and what they sold grew from there to the point of selling almost everything. I believe that eventually (who knows when) something similar could happen with Bitcoin - possibly with Micropayments on something like Stacker News or social media. They're cheap and quick... they help reduce spam and people like getting paid out in sats.
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