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

Posted by msmash on from the it's-still-broken dept.

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bitcoin-accepting locations all over the world, shows a few places that accept bitcoin in Toronto, but it's clearly out of date -- I called several businesses listed on the site and they had no idea what bitcoin even is.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.

2 of 376 comments (clear)

  1. There Are Options... by Anonymous Coward · · Score: 2, Funny

    You can use Bitcoin person to person.
    Yes, Bitcoin (BTC) has been taken over by companies and individuals who hate the original anarchist idea of unstoppable decentralized cryptocurrencies.
    This takeover will centralize and have high fees and controls and you will lose.

    That's why there's now Bitcoin Cash to replace it...
    https://www.bitcoincash.org/

    Only stupid people believe that in the new world of cryprocurrencies that any particular crypto will be *THE COIN* for all eternity.
    That's not what this is all about.
    You have to adapt, and exchange.
    Or go back to sucking the teat of the fiat government you love so dearly.

  2. Re:bitcoin isn't real, either by G-forze · · Score: 4, Funny

    Funny I just bought stuff at the corner store and the checkout girl's eyes glazed over when I asked if I could pay in American dollars. Then I ordered some delivery from a fast food joint and once again the dude on the phone said "what?" when I asked if I could pay in American dollars. Some standard you have there, which isn't even accepted in Europe.

    --
    "There's someone in my head but it's not me." - Pink Floyd, Dark Side of the Moon