Satoshi Nakamoto intended Bitcoin to be used for online payments. But it never caught on as a mainstream payments option.
The main hurdle to widespread adoption of bitcoin-as-cash is its wild, and potentially lucrative, price changes. This roller coaster problem isn’t going to disappear. Which means the only way for bitcoin payments to ever go mainstream is if the nation’s reliable payment pipelines, the ones that have knitted it together for decades, stop doing their job. Only then will second- and third-best payments rails like bitcoin be called into play.
J.P. Koning, a CoinDesk columnist, worked as an equity researcher at a Canadian brokerage firm and was a financial writer at a large Canadian bank. He runs the popular Moneyness blog.
Here’s a short story about how America’s payments infrastructure slowly implodes and bitcoin payments go mainstream.
We all know that America is ideologically divided. This turmoil has