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The utility of bitcoin is censorship-resistant transactions. You don't need a high on-chain transaction rate for that.



But you need the person n the other end to be set up with bitcoin. With the current transaction limit, the likelyhood that the other person is set up to accept bitcoin stays low.


We can cross that bridge when we come to it. Right now Bitcoin usage is orders of magnitude less efficient than it could be.


You mean illegal transactions.


As with the 2nd amendment, arguing for the right to bear arms is not in and of itself an argument for their use. In this case, bitcoin represents by which civil disobedience could be practiced. As long as it is maintained as a real alternative (meaning first and foremost it operates outside the constraints of authority) then a reasonable argument can be made that regulators in democracies will compromise in allowing greater user rights in the official alternatives. Napster and bittorrent did change the music industry, in the end.

But even without game theoretic arguments involving civil disobedience, Bitcoin is still interesting. It offers cryptographic protections that have never existed before in real fintech applications (e.g. programmable signatures), and radical transparency and configurable trust that can patch the sort of vulnerabilities that led to the 2007 financial crisis.


Like getting your money out of Venezuela, Argentina, Cypress or Greece before its gone or you can't get to it? Those are all illegal. Legality and morality are not the same thing and not all of world lives in cozy security.


How would converting all your money into magic beans help in that situation? How would you pay for your groceries in magic beans in that country?


> Like getting your money out of ...

If you re read my comment you can see I explicitly said getting money out of those countries, which have been infamous for capital controls.

Also - Magic Beans - accepted at 48 locations in Athens https://coinmap.org/#/map/37.99873292/23.73853683/12

Look up the ideal properties of money and you might understand the big picture better, but it may mean challenging your deeply held beliefs and not everyone is ready for that.


Seems like you have an agenda here.




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