As the representative of digital currencies, bitcoin value and its market cap was unstable in recent years. Meanwhile, the argument about the currency attribute of bitcoin never stop. However, it is no doubt that bitcoin haven’t become a common payment option yet.
On the fourth quarter of 2017, the number of the retailers who accepted btc reached $11291, rising by 30.3% compared with the first quarter. But why dose bitcoin still be unattractive in daily retail?
Here are some reasons:
1. Price fluctuation
Bitcoin price is unstable. In 2017, bitcoin price changed between $1000 and $20000.
2. Transaction efficiency
Currently, it cost about 20 minutes to confirm each deal of bicoins averagely. However, on January, 2018, it cost 41 hours. During the rush hour on Internet, the average transaction time of bitcoin payment is between 30 minutes and 16 hours.
3. Transaction cost
The average cost of bitcoin trading is about $1 at present. On December, 2017, the average peak of bitcoin transaction cost is $34, will it reached $40 a few months ago.
Besides, other reasons are also prevent bitcoin from being a popular option to pay, including the supervision from government, safety, availability. Can you think of other reasons?