BlackInkstoan

You can use Ethereum for the same purpose. The transaction fees for sending Ether in a reasonable amount of time stands at sub $5. To send the same amount in the same time on Bitcoin's network is higher. Ethereum's high fees mainly hinder smart contract usage, which, depending on the complexity of the contract, may incur up to hundreds if not thousands of dollars at current gas prices.

I ought to proofread my comments before submitting, apologies.

Unless stablecoins, custodial or noncustodial, gain widespread adoption, DeFi will remain as a niche for hardcore crypto fans.*

DEXs and PLFs still lack integration into the traditional finance infrastructure. Outside of escrowed p2p sales of cryptocurrency, centralized exchanges are the only FIAT on and off ramps.

If stablecoins, custodial or noncustodial gain widespread adoption, DeFi will remain as a niche for hardcore crypto fans.

The transaction costs are variable depending on the speed with which you want your transaction processed. Miners have an incentive to include transactions with the highest fees in the next block, so when the network is congested with tons of unprocessed transactions, you'll be paying more.

And that's only looking at on-chain mechanics. Solutions exist to remedy issues with scalability of the underlying blockchain.

The amount of misinformation being propagated in the subreddit has reached absurd levels. I wonder where the voices of reason will migrate to once this fiasco dies down further.