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Bitcoin (BTC) surged 10% in two days from trading below the $40,000 mark to above $44,000 on December 6. With the bullish volatility, Bitcoin’s average transaction fee now costs what the average global population receives as their daily income. Notably, a study by Zippia from April 2023 discovered, “The average global personal income is $9,733 per year.” In a 365-day year, the average global personal income is $26.66 per day. Moreover, Burundi is the country with the lowest average annual income of $220, while Monaco has the highest at $186,080. In the meantime, Bitcoin transaction fees reached a daily average of $25.02 or 56,740 sats per transaction. Sats, or ‘satoshis,’ is the smallest unit of a Bitcoin, with 1 BTC having 100 million sats. Therefore, a single Bitcoin transaction already costs what the average person earns daily for their work. In what advocates call “the Bitcoin standard,” making one financial transaction daily would consume the global averag...

With advances in scaling and interoperability, cryptocurrencies are more ready than ever for widespread adoption. With crypto gas prices dropping to lows after numerous recent innovations in scaling and interoperability across different chains, we can more vividly imagine a possible shift toward widespread crypto payment s. Crypto payments at scale are currently prevented by regulation, lack of understanding and mass adoption, as well as digital assets being used primarily for investment purposes. For starters, Satoshi Nakamoto’s original concept was steeped in the idea of peer-to-peer digital cash — that’s exactly what appears in the title of his 2008 Bitcoin white paper. Despite the initial excitement and deep conviction surrounding this pioneering system since its inception, the core idea quietly slipped through the cracks as our focus shifted to cryptocurrency as an investment. The often-expressed nostalgia for the famous white paper became overshadowed by this unintentional dev...