RE: Why Gold Works For The Rich But Not The Poor, Not A Currency Replacement
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I think BTC will ultimately be similar to gold. BTC has many advantages over gold. However, it is more expensive to transact than many altcoins, which makes those preferable for day to day use in commerce, remittances, and payments. BTC will work for the wealthy, but not the poor. $1 in transaction fees isn't much for some people; but, in some parts of the world, it is significant. BTC at one point had transaction fees around $35.
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Yes that is true but segwit bech 32 addresses have made it cheaper to transact on the main chain and if you do want to do daily transactions you can always use a lightning network wallet and transfer at sub satoshi levels which I think is better than switching your BTC to an alt just to send it or trade it
Yes Alts will have their place and I’m sure atomic swaps will become native! I just don’t think the “transaction are expensive” is an excuse anymore as these second layer solutions roll out