RE: Will Lightning Kill💀 Dash and LiteCoin? / Update On BIP91 SegWit Activation via BIP141 and Segwit2x
Great post as always. That being said I don't think Bitcoin will become the primary crypto used for day-to-day transactions for the simple reason it is way to volitile. Understand Bitcoin is an entry level crypto which is used to purchase other cryptos (similar to Ether) meaning its price can rise and drop drastically in fairly short periods of time. I prob don't have to tell you this, but a currency for day-to-day transactions requires the currency being used to be quite stable as you don't want to buy a coffee one day and it cost .0001 BTC, and then the next day its cost you .0002 BTC (100% increase), and then a week later it cost you .00005 BTC (50% decrease)... basically you can't have a day to day currency that can increase/decrease in value so greatly in a short period of time as it causes countless complexities which can greatly limit mass adoption.
Anyways just my 2 cents... but in all honesty I do not see BTC becoming the crypto used in day-to-day transactions (and feel Litecoin and DASH still have a strong place for this role which I HIGHLY doubt Bitcoin will ever take over)...
It doesn't mean Bitcoin can't be used to buy coffee, it just means that will come much later once volatility calms down.
What if people dont want to wait 5 years for that to happen? What if next year they want to buy a coffee with a crypto and Bitcoin price is still changing 10% +/- every day? I guess my point is since Bitcoin is used as one of the primary entrance cyrptos (used to buy other cryptos, unlike DASH or LTC) its volatility will never be as stable as some of the other cryptos are, in turn making it a less then ideal option for day-to-day transactions.
Again not saying it can't be used for that, just in my strong opinion it isn't the best choice for that use. I guess time will tell.