That was maybe the goal about 5 years ago, when Steam started experimenting with BTC payments.
Guess what happened?
1. Bitcoin's 5 transactions per second was insufficient to handle Steam's capacity. Transaction fees skyrocketed to $20+ per transaction, leading to people buying $60 games + $20 bitcoin transaction fees.
2. Those who cut transaction fees below the average $20 at that time had to wait days, possibly weeks, before Steam got the bitcoin.
3. Return handling was complicated. At a minimum, returning a $60 game was done by performing another bitcoin transaction, meaning Steam had to front another $20 bitcoin transaction fee to return the BTC back to the user. There were questions: should you return 0.03BTC (or whatever), or do you return $Dollars ?? I think Steam returned Dollars, proving that the BTC price was too volatile to be used as payment.
4. That was with "normal" issues (transactions and returns). Nothing out of the ordinary yet.
Then you account for the fact that 50% of the bitcoins were outright fraudulent, and it was pretty obvious this wasn't going to work.
That was 2016. Over the next years, I have enjoyed BTC enthusiasts explain to me how BTC is a "Store of Value" (woops, price went down), I mean an inflation-hedge (woops, it went down starting in December 2021, far in excess than inflation or USD/EUR and other measurements). And how we have you coming back talking about transactions, because apparently you've forgotten where the BTC arguments were 5 years ago and feel like repeating things.
5 years from now, are you going to be echoing the "store of value" and "inflation hedge" arguments, pretending that I've forgotten about December 2021? There's a reason why the BTC enthusiasts keep changing their argument, because each time we try to use BTC for something (be it transactions, store of value, or inflation hedge), it turns out to be useless at the task. I guess most recently was this "Stablecoin hype", where you use BTC as an 18% yield vehicle, and now Celsius / Voyager is collapsing because of that mistake.
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#3 alone is sufficient to kill BTC as a transaction medium. The fact that I can buy a $60 game and then get a return from that game (and get my $60 back) is only possible because the US Dollar is stable across a 30 day period. BTC never is that stable, no one will be willing to take the pin-risk of BTC's price changing. You either stop doing returns ("all sales fiinal") to mitigate the threat, or force the consumer to have the threat (see Tesla's shitty "Dogecoin" strategy. Price goes up, they return $Dollars to the user on returns. Price goes down, they return Dogecoin).
There's no way around the volatility and purchases/returns. It just leads to a shitty situation for everybody.
crypto was just an electronic version of the Commodities Market, except it has no actual enforced delivery date for jack. or shit.
