Amazon accepting Bitcoin - What can go wrong? 🤔🤔
I se-e a lot of people pushing for companies like Amazon to accept Bitcoin as a payment option. Have we considered the
implications of these decisions? Let's say we cannot scale to "service" the need for millions of new people who would use
this technology for the first time. What a big embarrassment would it be, if people waited 13 hours for their transactions to
be confirmed. Doing this now will hurt Bitcoin more than any other "bad" thing that has happened to it before.
We need to wait for the perfect scaling solution to address this problem, before Amazon or any other big retailer starts to
accept Bitcoin as a payment option. The Lightning Network might get us close, but it is not a proven technology yet.
Let's hear your thoughts on this? 🕵🕵🕵🤔
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I think even in your scenario in which there is a massive overload of usage, causing 12 hour transaction delays - any companies that choose to accept crypto currency is a step in the right direction. If there were some sort of crash - this may cause the usage of bitcoin ultimately to continue to rise - as people may think "if it's that popular why aren't I using it?" Great post, cheers!
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