For sure, people involved in Bitcoin and its development especially those focusing on its retail payment potential are now slowly accepting the reality...it is just not there for now. Let's all be practical, people are greedy so why would I be using my hard-earned Bitcoin to buy some grocery or a cup of coffee when I am thinking of the price it would be a month or a year from now? So Bitcoin has become like a savings account for many of us who are hoping that it give us the biggest return possible and financial freedom into the future. Still, Bitcoin can be good for macro-payments I think especially inter-border commerce but for micro-payments this is where Bitcoin is suffering a big problem for now. In fact, I would say that it has become like the physical gold; you won't see anyone bringing his gold to buy some ice cream, right? Still, we are hoping that the time will come when Bitcoin can be utilized for paying all things whether they can be valued a million dollar or just $1. In summary, this lack of working and viable infrastructure on micro-payments fortunately do not make BTC less valuable.
A pizza lesson no one will ever forget.
Let's all be practical, people are greedy so why would I be using my hard-earned Bitcoin to buy some grocery or a cup of coffee when I am thinking of the price it would be a month or a year from now? So Bitcoin has become like a savings account for many of us who are hoping that it give us the biggest return possible and financial freedom into the future.
It's true not many people use Bitcoin to make payment and it's annoying to use Bitcoin for small settlement/microtransaction. But he clearly forget that Bitcoin payment activity helps Bitcoin growth (both price and community), especially in the early days. But at least they recently begin to support LN which is more suitable for small settlement/microtransaction.
Of course, we are all grateful to Bitcoin pizza and Laszlo's courage to venture into something new and unknown. No one denies his great favor with the Bitcoin community. Quite the contrary, had it not been for the audacity of these first young people to accept payment in Bitcoin, we would not have reached where we are today.A pizza lesson no one will ever forget.
If guys like Laszlo wouldn't have paid 10k BTC for a pizza or Lamma socks, then right now you would still need 10 BTC to buy a pizza, users should start to understand that just holding coins and letting others do the transactions, the adoption and the money inflow is not going to go that smoothly.
Ok, Bitcoin is no longer only a p2p currency is more of an investment, but what happens when three will be a currency that acts better in both cases?
It's true not many people use Bitcoin to make payment and it's annoying to use Bitcoin for small settlement/microtransaction. But he clearly forget that Bitcoin payment activity helps Bitcoin growth (both price and community), especially in the early days. But at least they recently begin to support LN which is more suitable for small settlement/microtransaction.
wtf are people using Bitcoin for if they're not buying stuff with it? (let's pretend that traders did not exist for a second.)
Coinbase's decision makes no sense, unless they are talking about the infrastructure required to convert RPC calls output to addresses with balance and transaction history. But even that is quite minimal so there was no good reason to drop it.