•

New data proves almost no one uses Bitcoin as currency. It's actually more like gambling

https://theconversation.com/new-data-proves-almost-no-one-uses-bitcoin-as-currency-its-actually-more-like-gambling-207909

Barely 2% of Australians or Americans use Bitcoin for its intended purpose: to buy things. Should we even call it a cryptocurrency?

18 comments

See all comments

fouc

•

I tried to pay something with Bitcoin instead of debit card a couple of years ago. The transaction took ~4 hours to clear and that's with fees totalling about 40% of the amount. Granted the original amount was like $10 but still way too slow and way too expensive. I understand that technically credit cards are not instant too, but there's an intermediary that guarantees that the amount has been reserved until the bank clears your payment. I wasn't expecting Bitcoin to be instant but 4+ hours is excessive.

That's 2-3 years ago so my experience might be outdated.

plumbercraic

•

I'm just waiting for the nano fanboy to jump in 🍿