Where Were You When the Blocks Filled Up?
This goes out to everyone who has paid lip service to the economic viability of cryptocurrencies to become the dominant form of payment. I am of the belief that many who act like they care about this don’t possess the conviction or philosophical consistency that they claim. Do you really care about a world running on crypto? Well let’s see, by taking a trip down memory lane.
Bitcoin usability for small payments has been gone for almost two years
In the summer of 2016, the Bitcoin median transaction fees were on the rise, reaching around 15 cents. Most didn’t care, and some saw this as a blip on a chart, but for me this increase actually started to impact my life. At that time, I was struggling financially but loving every minute of it because I was living the great experiment of trying to use magical internet money for everything. The standard cup of coffee was about $1.90, and with that I could hang out for a few hours and get lots of work done away from the distraction of roommates etc. That fee represented about 8% of this purchase, however that could be more if I had to consolidate inputs from several wallets (the equivalent of gathering coins from couch cushions).
