it’s been over 10 years and nobody can come up with 1 thing you need bitcoin (the token) for
Fields the transaction did not carry are omitted. Open the payload to see the bytes as stored.
17mv3xxFGGokNYaPyCSuVVbqjJjppAEpq3 VerifiedPre-signed contracts for customers to buy off a competitive market where data is filled by all involved parties, goes on Bitcoin & legally executed.
Example; lawyer creates real estate template/contract, pre-sign it & sell it on Bitcoin for $.
that’s a usecase for bitcoin the ledger, not the coin
You need it to create scripts on the ledger.
can you elaborate?
Any output that is asking miners to be part of validating a signature or script must pay for the privelege in Bitcoin. Forward conditions can create on-chain contracts. 0 Return outputs don't have a signature and must be validated in the application layer
The most efficient payment method. Tiny transaction costs, cross-border and instant, regardless of amount. Immediately spendable is the key. No need to wait.
Any other cases you brought up on your threads would be more costly than spending the UTXO.
Using the ledger allows for a more efficient settlement but paying with the token for goods and services isn’t more efficient than paying with fiat.
Besides, it’s not always about what is cheapest. Most people opt for convenience over price tag.
How will you pay an individual in a country any amount, for a low fee instantly? This is a narrow-minded view. This is not possible w/ fiat - it takes days. And inb4 the point of being able to wait, not folks in 2nd/3rd rate countries.
Did you ever have to pay someone overseas? I do regularly, doesn’t take days.
Within Europe it’s instant. I can even send euros and have whatever the recipients national currency is arrive at his account. The world has evolved bro.
Additionally, the credit cards and banking give the illusion of convenience. Are actually horrible/costly - the merchants don't actually get paid until days maybe even weeks later. Imagine people getting paid and can instantly spend to anyone in the world.
There is no "illusion"
They ARE convenient, otherwise they wouldn't have displaced all other payment methods. They cost merchants dear so there is an OPPORTUNITY to build a better system. Wanna try?
Try to live without them to see their convenience
Right and bitcoin is soooo convenient in functioning as a currency that every merchant that accepted it the past 10 years instantly converted it to fiat.
People can already get paid and spend it instantly without volatility, additional tax systems etc.