The price has become a growing problem. In the race to fully integrating crypto in the fiat world, transaction price has shown to be one of many challenges.
Before we get in to that, I was thoroughly surprised that I did not know about vending machines and many other tools that accept crypto, is now slowly becoming a normal part of our lives.
I found this article here.
It highlights a growing problem that needs a little more refining before we can fully adopt crypto. It also shines light on how BTC maximalists may need to be a little more lenient with their beliefs.
For a long time I myself was a BTC-only person. In my defense, my knowledge was limited and BTC was the only coin that was tradable to fiat.
In this article we see yet another reason why BTC may not be perfect, and it is outdated without much real-life application except for its "mascot" value and its current influence on the overall crypto market.
I tend to believe that when we approach adoption, BTC, may not be the visible leader. It will be around but we will be leading the adoption with yet another fork/layer or a different coin completely.
The simplest way of looking at would be that it highly unlikely for business to adopt BTC if they have to worry more or pay more. And maybe that is why BCH and ETH are the more popular options.
For those wondering, the article also provides us with the example of a soda can that would have costed almost 3$ (using BTC) that would traditionally cost only 1$.
But there is more to worry about. Security, price, accessibility are parts of it, and can go very deep.
The article strengthened my belief that there is still a long way to go, more protocols and coins to discover and adoption is happening, but slowly.
Around 3 months back I read posts about BTC being used in Russia, NYC and parts of Europe for payment of tuition fees and food. I wonder if they have since changed their ways or are they still banking on BTC.