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22 sats \ 3 replies \ @AJ1992 12 Jul \ on: On A Bitcoin Standard - Your Phone Dies - How Do You Pay? bitcoin
This is another major issue that keeps Bitcoin from becoming a globally accepted currency. Don't forget those that live in extreme poverty as well that do not even have a cell phone. Like those on the African continent and elsewhere. You also need not just a phone but an Internet connection as well...which people fail to realize is still not available in huge parts of the world.
All you Bitcoin maxi's fail to realize these along all the other problems with Bitcoin that will ultimately keep it from being adopted as money like fiat is. You guys need to take off the blinders and realize these issues and address them instead of acting like they don't exist or ignoring them because that issue is not an issue to you. (transaction fee prices, possessing a phone, having data/internet on that phone.)
Unless you address them, Bitcoin has no chance at replacing Fiat.
I 100% agree here. I think Starlink will help with internet across remote regions of the world once it scales, but the phone things is gonna be a hard one to solve. In Africa they actually have projects that allow one to send bitcoin via SMS which is cool! Not as fluid as cash though.
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I've heard of that. Other major issues include on-chain confirmation times or if your tx will ever be confirmed to be honest because there is no guarantee your tx will ever be included in a block.
Volatile and high transaction fees. (Compared to other cryptos and fiat which is free to transact a large majority of the time. At least to the consumer. People are naturally greedy also and don't want to pay any fee let alone the fees to transact Bitcoin. Also, what some consider a fee that is cheap others may consider a high fee.)
Lightning's payment in transition/can't find a route issues.
Bitcoin's price fluctuates sometimes at a volatile rate and that turns people off immediately.
Those are the major ones. I can list more but yeah. The maxi's refuse to admit any of these are issues or they justify them by throwing the whole anonymity thing out there. Which isn't even the case now a days unless you take precise steps to cover your tracks. 95% of people simply don't care about anonymity like they should anyway or believe it's useless since they aren't doing anything illegal/they want to hide.
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Disagree with that, even in very poor countries people have phones. It doesn't have to be a smart phone but they have phones, use bitcoin by SMS and poor countries have their currencies going to zero all the time so rather counterintuitively even with less tech and internet access they are driving the adoption much more than financially privileged countries
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