This is clearly FUD pushed by bitcoin cash supporters. I’m coin-agnostic and don’t get into these fights but bitcoin is 100% doing exactly what it was designed to do.
Bitcoin: A Peer-to-Peer Electronic Cash System - “The cost of mediation increases transaction costs, limiting the minimum practical transaction size and cutting off the possibility for small casual transactions, and there is a broader cost in the loss of ability to make non-reversible payments for non-reversible services.” https://bitcoin.org/bitcoin.pdf
Since transactions will only increase in price as demand grows (and the tx limit has been effectively capped for years), I don’t see Bitcoin ever improving in this regard. Bitcoin may be successful as a speculative asset and for other purposes, but as “peer-to-peer electronic cash” it’s a failure.
>bitcoin is 100% doing exactly what it was designed to do
Bitcoin was designed to allow low-fee small amount internet commerce. From the first paragraph of Satoshi's white paper:
>The cost of mediation increases transaction costs, limiting the minimum practical transaction size and cutting off the possibility for small casual transactions [emphasis added]
This is clearly no longer the case with the BTC fork of Bitcoin:
Average transaction fees are frequently $5-10 these days, which completely invalidates the original proposed use case for a system that would enable “small casual transactions.” https://bitinfocharts.com/comparison/bitcoin-transactionfees...
Since transactions will only increase in price as demand grows (and the tx limit has been effectively capped for years), I don’t see Bitcoin ever improving in this regard. Bitcoin may be successful as a speculative asset and for other purposes, but as “peer-to-peer electronic cash” it’s a failure.