Here's Why People Don't Buy Things With Bitcoin (vice.com)

An anonymous reader shares a report: One reason for this, if you live in Toronto like me (or anywhere else for that matter), is that there's basically nowhere to spend digital coins in the real world. Coinmap, a service that maps bitcoin-accepting locations all over the world, shows a few places that accept bitcoin in Toronto, but it's clearly out of date -- I called several businesses listed on the site and they had no idea what bitcoin even is. A bigger problem is perfectly illustrated in a Reddit post from Wednesday morning complaining that a bitcoin transaction worth just $9 still hasn't gone through the network after two days of waiting. Two. Days. The likely reason is that the fee attached to the transaction in order to incentivize faster confirmation -- 50 cents, which is about as much of a premium as I'd pay for a $9 transaction -- simply wasn't enough. "Should I have paid $3 on a $9 transfer to get it processed?" the person wrote.

Comments

Re:bitcoin isn't real, either

[zieroh]

Those who fail to learn from history are doomed to repeat it. Possibly the most well-remembered example is Tulip Mania, which occurred in 1637.

Thanks much for posting that. I'm sure nobody involved in Bitcoin has ever heard the comparison to tulip mania before. That's incredibly insightful.

~sarcasm