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by turkeytotal 2665 days ago
This should come as no surprise, but not for the reasons the author thinks.

>I could list 50 different reasons why but for us it boils down to two main facts. A very small percentage of our customers posses Bitcoin in a hot wallet ready to transfer and secondly, Bitcoin can be slow and expensive for small payments.

The main reason is that no one needs to use Bitcoin to pay for their locksmithing. Bitcoin is not your neighborhood Visa competitor. Bitcoin is your last resort payment method/store of value--for when you don't have access to traditional financial infrastructure (for whatever reason). This article is a signal only that people are not ideologically using Bitcoin as a payment (which is a good thing, I don't care to store payments on my node that would be better served by Visa).

1 comments

> Bitcoin is your last resort payment method/store of value

This is what people have traditionally held gold for. It feels to me like there are very few use cases that aren't already served by physical gold.

You can't use gold online in an trust-minimized way. One counterexample are industries with high chargeback/fraud rates. Bitcoin is perfect for merchants exposed to friendly fraud, it completely removes the leverage customers have over them.
But accepting only Bitcoin is hardly an option even for those merchants.