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<blockquote data-quote="BadIdeaGuy" data-source="post: 4738207" data-attributes="member: 73381"><p>Consider this.</p><p></p><p>The current mean TX fee for BTC is over 12 dollars.</p><p>Can you imagine if your debit card charged you 12 bucks every time you used it?</p><p></p><p>Bitcoin takes roughly 15 minutes to confirm assuming your transaction is included in the next block.</p><p>Your debit card? Roughly a couple seconds.</p><p></p><p>Bitcoin gets congested, and has a hard time doing more than 5 transactions per second.</p><p>Visa can run 65K transactions in a second.</p><p></p><p>This sort of thing has me convinced that the only real argument for bitcoin right now is the "digital gold" store of value.</p><p>EXCEPT. It's open source.</p><p>Anyone can clone bitcoin, and create an identical crypto at any time and for any reason.</p><p>So with regards to that, the only thing it has going for it is name brand recognition.</p><p></p><p>There is definitely a use case for crypto.</p><p>But I think what we are seeing right now is the worlds most massive pump and dump scheme in history.</p></blockquote><p></p>
[QUOTE="BadIdeaGuy, post: 4738207, member: 73381"] Consider this. The current mean TX fee for BTC is over 12 dollars. Can you imagine if your debit card charged you 12 bucks every time you used it? Bitcoin takes roughly 15 minutes to confirm assuming your transaction is included in the next block. Your debit card? Roughly a couple seconds. Bitcoin gets congested, and has a hard time doing more than 5 transactions per second. Visa can run 65K transactions in a second. This sort of thing has me convinced that the only real argument for bitcoin right now is the "digital gold" store of value. EXCEPT. It's open source. Anyone can clone bitcoin, and create an identical crypto at any time and for any reason. So with regards to that, the only thing it has going for it is name brand recognition. There is definitely a use case for crypto. But I think what we are seeing right now is the worlds most massive pump and dump scheme in history. [/QUOTE]
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