Bitcoin : a Reference Rather Than a Daily Use

Bitcoin : a Reference Rather Than a Daily Use

By Beren | My life to crypto | 29 Nov 2020


Years ago Bitcoin was launched to the world and designed to strike the restrictions of the monetary ecosystem.

In the old days, if we would like to transfer the money across the world, we need to start the car, drive it to the bank counter, fill the form, paying a huge fee and wait for days before the money payable at destinations. After Bitcoin has come, we can do it any where any time, not filing any forms, very low transaction fee, and wait for approximately 10 minutes for the blockchain confirmations then the money reaches destinations thru blockchain technology before you reached the bank counter comparing to the old method.

After years passed, Bitcoin changed itself in the value positively , but the 10 minutes confirmation time looks very slow for current crypto ecosystem. There are alternative coins offer a lower transaction fee and faster confirmation time. So we can say that the daily use of crypto should be on some cryptocurrencies rather than Bitcoin. Imagine you don't want to stand up for 10 minutes in front of the hamburger counter and wait until the confirmations in blockchain completed by paying thru Bitcoin.

Despite to the Bitcoin's value and reputation, we can not disagree if it is a stronghold among the crypto assets. So let keep it as a store of value , as a value reference assets should be better than being a daily use cryptocurrency.

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