It's fair to say that, in its current state, Bitcoin does not work as a means of payment for basic things. The average transaction fee is over $20, which makes common purchases, like a cup of coffee, virtually impossible to justify. However, as I noted in my What can you buy with Bitcoin? piece, things are different when we are looking at very expensive purchases. One such scenario where using Bitcoin makes a whole lot of sense is buying a home. The transaction fee is negligible, as the cost is in the hundreds of thousands of dollars, if we are looking at… [Continue Reading]
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