I'm seeing more vendors that have bitcoin as an option to pay for goods and services, so that to me says a lot about the cryptocurrency. Just yesterday, I was looking for gift cards to buy in order to save a little on my online purchases and saw where one of the outlets accepts bitcoin! This is well worth taking notice. The more businesses take a chance on cryptocurrencies, the more people will begin to take notice, and hopefully, decide to make the switch.
One challenge with companies taking bitcoin (and people using it) is that it puts it in the hands of the people this article refers to.
Think of this, you buy stuff from Amazon using bitcoin, what happens to the bitcoin? Do you think that Amazon will pay its employees in that or still Fiat? My bet is fiat. Hence, the btc is held by Amazon and if you look up the institutions outside Bezos who have stake in that company, guess who it is? The banksters. The same goes for most corporations.
I agree the company will most likely to continue to pay their employees in fiat. I also heard that there are ties between the top tier of Amazon employees and CIA. Could be fact or it could be conspiracy.
Thank you for your comment @nexusvortex777.
The challenge with the conspiracy theorists is many tie everything to the CIA.
The flip side is that there is usual some truth, at least in part, to most conspiracies. In other words, something doesnt add up.
I dont look at this as a conspiracy...simply a way to re-distribute bitcoin because the masses are fairly naive.
Bitcoin is in the hands of the people now, they get excited to buy stuff on Amazon using bitcoin, which puts bitcoin in the hands of the corporations who are owned by the banksters.
And down the road the people will complain that all the bitcoin is in their hands.
Do you think HODLing is the best option to keep it out of the hands of companies such as Amazon? I think that would be one of the best options or trading with other people whom you are sure aren't a part of a corporation. Small businesses could start accepting bitcoin, too. We'll see as time passes and more people begin to use the currency.
Oh yes, don't get me wrong I'm all for mass adoption of Bitcoin and cryptos across the board but with massive fees who wants to buy a pair of $50 dollar shoes and add another $10-$50 dollars in transaction fees?
The conspiracy theory is that the 'Bilderbergers' want high transaction fees to bring in Blockstreams' Lightening network (which Bilderbergers are invested in) and theoretically by controlling Blockstream perhaps they could manipulate Bitcoin and the entire market.
Bitcoin will be easier for them to manipulate than gold, a market they totally took over.
With only 21M bitcoin, it is just a matter of waiting out the sellers...at some point, some of the btc whales will cash out...and the banksters are already in line.
A couple hundred billion is nothing to these people...they have access to all the money they want.
Right on, the out of proportionate fees are one of the factors that are worrisome for me. It doesn't seem feasible that the average person just getting into bitcoin would be able to pay that kind of transaction fee. I am going to be looking closer into the Lightening network. Thanks for your insight and ideas.