solution to the rising fees at Bitcoin?... Marketing.

[bitc0in]

it's tough to promote Bitcoin when fees are rising fast. But bitcoin.org has done it pretty well

https://bitcoin.org/en/faq#what-are-the ... of-bitcoin date: March 19, 2014 (archive)




https://bitcoin.org/en/faq#what-are-the ... of-bitcoin date: July 23, 2016 (today)

[rogerver]

Thanks for pointing this out.
I wish more people would point out how the complete change of fee policy is a fundamental change to Bitcoin.

The higher the fees to use Bitcoin are, the fewer people will use it.

[DOGed]

I always wanted to give theymos the benefit of the doubt in regards to his moderation policies, as I always thought that he had the best interest of Bitcoin at heart, but simply did not fully understand fully understand the ramifications of his decisions and the economics of what he supported.

Sadly, this post contradicts my above assumptions.

One of the major selling points of bitcoin is the low cost of use, and if this feature is removed, then I am not entirely sure why the mass population would wish to use bitcoin.

[rogerver]

One of the major selling points of bitcoin is the low cost of use, and if this feature is removed, then I am not entirely sure why the mass population would wish to use bitcoin.

Right!
The vast majority of people support their governments and not once in their entire lives will they need to send a payment that would otherwise be censored by governments. The vast majority of people don't understand or care what causes inflation, what a block chain is, or what characteristics are required for something to become used as money.

The vast majority of potential users of bitcoin will be attracted by its track record of increasing in value over time, and its very low cost to send or receive money, even though they have no idea why either of those things are happening.

Only libertarian economics nerds, or computer science nerds will be excited by bitcoin's distributed ledger that enables censorship resistance.
The vast majority of people won't know or care.

As Bitcoin advocates, it is our job to make Bitcoin as attractive as possible to the masses by ensuring that it continues to have very low fees, while at the same time making sure that its censorship resistance remains.

There are many opinions on which steps should be taken to maintain Bitcoin's censorship resistance, but we should have an eye towards steps that increase rather than hinder adoption by the masses.

A censorship resistant currency that no one is using isn't a currency, and isn't interesting.

[bitc0in]

Thanks for pointing this out.

Thanks for sharing on reddit.