Lightning Network really delivers on the promise of small everyday transactions. 
Its very complicated behind the scenes but the user experience is very simple. And in the end that is what counts.

It is so much easier and smoother than using a credit card or PayPal. 
It is a demonstrably superior system in every way to the current centralised platforms.

It's interesting right, it was only clear that one day, Bitcoin would get to this level and in the nearest future even bigger.

Lets not forget that there is also going to be synthetic dollars on lightning using balanced channels so you can lock up sats and spend in USD so you can avoid the tax issues in the short and medium term. 

Bitcoin was/is a brilliant idea and it is a great store of wealth. BTC is very much the equivalent of holding gold, but online instead of physical. I try and use the smaller crypto coins, like DOGE, when doing day to day transactions for the cheaper fees.. 

https://ecency.com/bitcoincity/@djaf/bitcoin-city-ea06d878b4c91

Cryptocurrency generally speaking will find a common ground with money as a regular form of exchange. It's only a matter of time and some more technological improvements. 

>Apparently, there is a bipartisan bill being introduced in the US Congress, that will exempt bitcoin transaction from tax obligations if the associated capital gains are $200 or less. I don't think this bill will go anywhere and become a law.

@geekgirl  why do you think that the bill will not be passed as law?

Bitcoin is progressing daily and we have more people trooping in daily to be part of the system. P2P is what people use for transportation mostly which is common when using binance.

Obviously, you are very knowledgeable on this subject matter. Bitcoin increasingly remains a key store of value considering how I also have a bit of it in store. It would however take some time for it to be adapted as a means of exchange. A lot of work remains to be done.

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Interesting,thx.

I think I will keep BTC as a store of value. I just think there are better options out there as a payment option. Personally I think HIVE or HBD would be a great choice because there are no transaction fees.

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> that will exempt bitcoin transaction from tax obligations if the associated capital gains are $200 or less.

This is great, I mean, in India, it's 30% tax on anything Crypto no matter the gains or losses. These sorts of bills being integrated shows that government might just be trying to coexist with Crypto rather then totally attempting to bedevil it. 

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For me, I feel the value and rank of Bitcoin is way above day-to-day menial transactions. The worth, "value" and legacy of Bitcoin is way more than that.

Bitcoin, as the King of Crypto currency, don't need to stress itself to perform such transactions too.

There are many other currencies to do such errands for the crypto world, which will help strengthen the value and usecase of those coins in question.

I think what we should be more concerned with is the legalisation of crypto as legal tender, and the reduction of taxes. 

- If crypto is made legal in countries, more people will adopt it for transactions in store, supermarket, malls and other local places.

- If the taxes are reduced to the barest minimum, buyers and sellers will have no problem transacting using crypto. But when the Government places a 30% tax on crypto, just like the Indian Government, we shouldn't expect crypto to be used on daily transactions because the charge/tax will be greater than the cost of the product and the gain as well.

>exempt bitcoin transaction from tax obligations if the associated capital gains are $200 or less.

That's interesting. Worrying about paying taxes on every single little transaction is a big annoyance with crypto in general. There are times that I've wanted to make small trades to increase my holdings but never bothered because of the tax implications. 

🤔 Maybe that's a good thing for me though, anytime I ever tried to trade I always lost money in the end hahahaha

High volatility of Bitcoin presents to be a problem too.

As mentioned in the first comment to your blog, using LTC as an intermediate for small-size or medium-size transactions is currently what I do. I however see a clear use for HBD here (fast and cheap transactions), although it must become more mainstream first.

Cheers!

I don’t think I would use bitcoin for small transactions. It seems a no go. In my eyes it’s a store of value for the long term. 
Other (little) cryptos I would think about using for small transactions. 

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Like the old saying where there is will there is a way. Amazing how far BTC has come and to think if more countries adopt it as legal tender? I do think fiat and crypto can go hand in hand just like how today Americans use either credit cards or paper money. Exciting times to be alive. Thanks.

BTC have helped a lot and will still do with the impact it has in the society

good investment. but I didn't put it in

Very good your analysis on the use of bitcoin as a payment system for small transactions. The use of bitcoin as official currency in El Salvador is an example of how they have been able to implement its use, I do not know how they are doing.  This is a technology that is increasing and alternatives will surely be found.
Greetings