Why More People Need To Start Spending Bitcoin

Don McAlister is a technologist and has made several video tutorials on Bitcoin.

While primarily viewed as a store of value, and considered by many as a fantastic savings technology, bitcoin has yet to reach mass adoption. There are many reasons for this, but in this article, I want to explore one particular aspect that is potentially holding bitcoin back.

People are reluctant to spend bitcoin.

Why is this a bad thing?

One of the barriers to adoption is that people new to bitcoin struggle with some of the concepts behind it. They can’t immediately see the use case of the technology and fail to recognize that bitcoin is sound money. After all, what use is money if you can’t spend it? Historically, bitcoin has been difficult to spend due to the nature of the technology, but also due to the lack of support for people or businesses accepting bitcoin. If people can’t see bitcoin being used as real money, in a frictionless way and with tangible benefits, widespread adoption will be more difficult to achieve. In other words, bitcoin is not yet being commonly used as a medium of exchange.

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