Guy writes a post about a brewery accepting bitcoin. The bartender ended up accepting it, taking cash out from his register, and then probably waiting 30 minutes plus an extra transaction fee to receive it, and brags about it calling it 'real world adoption' on reddit.
This comment is by a redditor who is just beginning to understand the circlejerk nature of the cryptocurrency subreddit.
>adopting bitcoin as a general-purpose currency despite not being made for that and before LN is ready
lel good thing we have this bartender's transactions on the fucking Bitcoin blockchain
>people still think BTC's use case is for buying small items
Fucking circlejerking retards
Well actually it was originally made for that. Since it obviously was not good enough to fulfill its intended purpose, people are now trying to find alternate functions in order to not further lose their money after buying in December 2017 (70% of this board) lol.
Well actually you're a brainlet kys
and i suppose you expect everyone is just going to switch over to your pajeet/shitcoin of choice because of [technology].
funny how late adopters all have the same misunderstanding of what gives anything in this market value.
No, they're all useless.
Not sure if sarcasm.
Why are people replying negatively to this comment? This is completely right. Bitcoin was intended as peer-to-peer cash system - that's literally the title of Satoshis paper. Block chain data structure (from the 70's) were combined with proof of work (from the 90's) for consensus. Smart contracts were also cooked up in the 90's. Now it turns out that proof of work doesn't scales and bitocin as a cash system simply was a failure. Every "store of value" rewordings is after the fact. There's no denying the.
That being said, the distributed ledger race was kickstarted and eventually there will be some products and it's good to have an early fit in the door. Unless you're a daytrader, that's the game.
You have to go back. Cross siters are worse than cross boarders
back to plebbit pls. btc is too complicated for you
Look, I don't want to engage in this sort of conversations, but why do you even make a non-substantial reply like that.
I've written some smart contracts in my time..
Like I said, 70% of these posters bought in December, so what would they know?
No one cares if you wrote smart contracts retard, you don't even understand what they're for. Have you ever read Szabo's blog? The creator of smart contracts? Do you have any clue whatsoever about any of this shit?
No. You're a dumb code monkey like Gavin, and a redditor with 0 understanding of blockchain. Die
this is why you should buy nano
Stop posting screenshots of plebbit you stupid cucks. No one gives a shit about what is going on there. If we did, we'd be there. If you're taking screenshots on plebbit, you're using it, and you need to leave Veeky Forums.
KYS OP. saged.
this. if you go to reddit you're certified brainwashed retard, and everything you post is bound to be retarded
Kys kike
You seem to take this a bit too personal.
Aguing against bitcoin not being in any way a reasonable replacement for existing fast cash solutions is like arguing chocolate is healthy just because you like bitcoin resp. chocolate. Man, I don't have any problems with bitcoin, I'm just stating facts. Go bitcoin, hope it works out in some way. But just from liking it, doesn't mean we should deny obvious things.
What's wrong with this? Who spends less than 30 minutes in a pub? Seems like it works perfectly
If you actually read the paper, Bitcoin was designed first and foremost to be trustless and decentralized. Therefore, scaling on-chain is impossible as it would increase the ledger size too much, and there wouldn't be enough full nodes and archival nodes to ensure the safety and immutability of the ledger. Bitcoin is not a failure, it's a huge success. If they increased the block size, sure, they would've "scaled" for simple-minded people like you. But they would've compromised on the main pillars of what bitcoin is meant to do, and then it would've actually failed, and I would have no interest in blockchain shit.
tl;dr: Bitcoin is the biggest and most important coin and it has a clear vision that brainlets won't comprehend anytime soon. It's a "peer-to-peer cash system," yes, but for global settlements, not for microtransactions and buying coffee. Back to plebbit
If it is only for 'global settlements' and not everyday transactions, then you still need to convert it to fiat, which defeats the entire purpose of having a decentralized currency in the first place
If you didn't get it yet, Bitcoin aims to become the world's reserve currency, meaning that USD will be Bitcoin-backed. It's not going to happen overnight, but if you cared to pay attention to who's doing what, you'd know by now there is a lot of political support and infrastructure being built for this goal.
>meaning that USD will be Bitcoin-backed
wat? USD will be backed by another currency that is currently valued in USD?
... did you ever learn that USD used to be backed by Gold which was also valued in various currencies on various exchanges?
Id love to see a country back their currency with bitcoin, would be hilarious in a good way.
>tfw international banks will use Bitcoin as a fractional reserve
Most of the people still left on this board bought early or don't have a stake in crypto. The laggards left or killed themselves by now.
holy fuck, and this is a business and finances board.
Let's imagine that Jack is right for a moment. He is right by the way. Between now and "The Transformation", everyone on earth is in a game of musical chairs when it comes to fiat and Bitcoin. A tipping point will come where no one wants fiat any more and everyone wants Bitcoin. If you think that is impossible, think about the Zimbabwe Dollar. No one will take them for Bitcoin (or anything else) because that money is past the tipping point. Rather than switching to Bitcoin, they use US Dollars and Euros in Zimbabwe. This will happen on a global scale.
The only money that has lasted throughout history is gold. Every fiat currency ever issued has gone to hyperinflation and vanished. Now with Bitcoin, fiat will never emerge again, because Bitcoin will prevent it. The US Dollar is the last big fiat money to ravage the earth. When this happens, there will be a fortune made on providing those off-ramps. The policies and prices quoted at ramps will be the indicators of how far into The Transformation the world has gone. When they stop taking fiat, you know it's over, and the Transformation is complete.
For the record, Bitcoin is not slow. Bitcoin is not expensive. You need to look at it next to other services to make a good comparison. Bitcoin is extremely fast, even with 4 hour confirmation times. It is super convenient, and payer fraud is impossible. Bitcoin fees are low.
Bitcoin, like all software, is not static. We are at the cusp of the dawn of Lightning, which will change everything. The current transaction per second rate will be shattered forever, as millions of transactions per second are made. This is going to happen. It is inevitable. All objections people mount to say Bitcoin can't work will be overcome. If you want a glimpse of what's ahead, look to the Elements Project elementsproject.org
>after buying in December 2017 (70% of this board)
Why do people always think most here bought in late? Is it nocoiner cope?
Binance is my bank. CZ is my bank teller.
>using centralized exchanges
>>>/reddit/
You know you're just about healed up from the damage reddit caused when you're comfortable telling someone they're a faggot who needs to kill themself.
>He Knows
>He knows
Haha good for those niggers they fell for our ponzi
It's going decentralized and I'd be happy to visit reddit. Stop picking sides. It's more rational on their than here. This is the Roast of Bob Saget. Reddit is Gotham Comedy Live.
>knowing what these shows are
literally >>>/reddit/
>30 minutes
This is an interesting meme
My last Bitcoin transaction took 3 minutes
You faggots think visa transactions are free?
Most people who quote these numbers never made a transaction on-chain. They just use Coinbase
That paragraph is written by "a senior economic education specialist at the Federal Reserve Bank of St. Louis" btw
Maybe it was written in December. Wasn't the bitcoin network slow as hell with expensive transaction rates for a while back then? The volume of transactions has dropped off steeply in recent months.
>"on average"
>btw my average actually sampled from a one-month peak and it does not reflect average case at all but it sounds more extravagant
For cost she didn't even say "average" she said that's how much it costs. It's misleading and dumb
Never mind, the "average" applies to both cost and time. Still dumb asf and clickbaity and a PhD should know better. This is not journalism
>Bitcoin aims to become the world's reserve currency, meaning that USD will be Bitcoin-backed
It was literally intended as peer-to-peer digital CASH.
Possibly, but at that point it may have seemed that the rising price/time taken was the new norm. It would have been dumb to average it since no one would have been able to take advantage of the lower costs/time from the past (if someone asks you the price of x, you don't give them an average price from the last few years). So it makes sense she quoted the current rates assuming the article was written in December or so
Most people on Reddit are idiot bagholders who don't realize 99% of cryptos will fail. They are absolute morons and know nothing about trading.
It's ok brainlet, some things you just won't understand. You'll love the Bcash community
Stop. She should've then mentioned it. "in the past month" or "at the moment." She just said these are the average speeds/costs. It's obviously misinformed. How do you take an obvious outlier month and claim it's the average because you expect the trend to continue and you offer no disclaimer for your assumption? It's ok if you're a journalist for Buzzfeed, but not a "senior economic education specialist." If I wrote anything like that in a serious academic resource, my PI would kill me
Biz is soooo much different omg you're right.
Everyone here is soooooo much smarter.
hahahahahahahahahahahahahah
This guy is right though.
Listen to him you stupid fucking autists.
redditors are autists who still are stuck around the "currency" part of crypto, rather than the fact that you can make trustless applications of real world companies like AirBnB and Uber
don't bother reasoning with them
Bitcoin only took off because it found its use in the darknet market. You cannot ever prove me wrong.
I don't care about your fancies "I don't understand", I only care about facts and original citations
But you can't do dapps with bitcoin. Bitcoin is literally digital cash.
>what are sidechains
>We are at the cusp of the dawn of Lightning, which will change everything
But it's literally insecure, glitchy, untested and unproven. How many years did it take for bitcoin core to stand the test of time?