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Satoshi+in their writings) didn't understand the side channel attack of the Blockchain-meatspace bridge. Bitcoin only meets its design guarantees in a purely virtual world or with anonymous terminals. Bitcoin is already expensive enough to transact in, are you also going to move to a different location every time your transact?

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> Bitcoin is already expensive enough to transact in

Yesterday the average transaction cost was 0.7 USD. That’s pretty cheap as far as money transfers go, definitely beats most banks.

The fees increase with demand, but throughput does not. Bitcoin's current incarnation cannot scale. If it is cheap to transact now, it is only because the demand for its use as an actual currency has been reduced since the last fee explosion.

If everyone in the world tried to use bitcoin as a replacement for bank transfers, etc. then the fees would be astronomical

I don't think it even really gets to the point of side channels. People sign up with their github account and a photo ID so that a 3rd party can store their private key for them.

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