Why Does Bitcoin Fail As a Payment System?

Right back from when Satoshi Nakamoto wrote the white paper on Bitcoin, he envisaged it as a payment system and a currency that would operate totally online. However, since its early days, a lot has happened, and Bitcoin’s core function has shifted substantially away from that ideal.

Many now see and use Bitcoin as a store of value, and it has become an investor’s dream as its volatility is mostly projected upwards, gaining hugely compared to any other asset out there.

But as a payment system, Bitcoin is still heavily flawed, and there are core issues that are stopping its growth in this direction. Bitcoin’s scalability is being hampered because it is too slow and expensive relative to more conventional payment processing platforms

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