[smokey_circles]

It is the implementation.

I believe in bitcoin, works well and I don't blame the consumer for the producer's problems when it comes to power.

But exchanges have become a key part of the implementation.

That's not the real issue though. The issue is the _need_ for exchanges. They provide a host of services, mostly all of which are antithetical to the loftier ideals espoused by bitcoin.

Too many crypto fans waltz passed this glaringly obvious issue and these kinds of stories will never go away as a result.

If banks get hacked, nobody blames the internet. "a small sub section of the system" applies as aptly to the blockchain as it does the global financial system, and I'm pretty confident being a locally popular trading commodity amongst edge communities is not the central goal for bitcoin

[danuker]

> and I'm pretty confident being a locally popular trading commodity amongst edge communities is not the central goal for bitcoin

Given the transaction fees needed for a distributed-enough network, and the bureaucracy needed when trading, it is not very useful as a currency, at least not for small payments, excluding Lightning.

So it's a commodity.

[thebean11]

Excluding lightning and layer 2 solutions like rollups. Why would you make those exclusions though?

[danuker]

The reason is they are not yet accepted in many places, though in fairness, they seem to grow a lot.