Why Is Bitcoin the only supported payment method?

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    Matthew Light

    As many of us involved with cryptocurrency know, Bitcoin is now running at 100% of capacity. If OpenBazaar is a success, it will be competing with existing Bitcoin transactions for the limited slot of 3 TPS and hence Bitcoin fees will go even higher than they are today.

     

    Are you going to support other cryptocurrencies such as Ethereum which offer today and plan in the future much higher transaction capacity?

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    Samuel Hagard

    @ Matthew Light

    Bitcoin is and has been running at an average of around 70% of it's block size capacity for all of 2016.

    There is still considerable space for more transactions.

    With several solutions in the works we can expect bitcoin to handle more than enough transactions if OpenBazaar becomes a big success.

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    Hooman D

    are you planning to add fiat payment methods such as cards, paypal or eCheck?

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    Samuel Hagard

    @Lennie How about we don't add scam coins? If we integrate something new we should use something with proper fundamentals and a healthy ecosystem. If you're thinking of a private coin Monero would be a vastly better idea for so many reasons. Do look into it.

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    Lennie

    @Samuel Hagard It looks like Bitcoin isn't fixing their problems, have you considered adding for example Dash ?

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    Samuel Hagard

    @Lennie Imho the discussion should be limited to technical arguments and that filters out a LOT of coins already. Bitcoin uses a lot of capacity but not everything and i'm convinced there will be concensus for a (partial) solution in the future, be it SegWit or otherwise. It's extremely simple to exchange crypto so i don't see Bitcoin being the only accepted currency as a problem. Also the question rises, how many altcoins should be added and for what reasons? An endless discussion indeed.

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    Lennie

    Your confidence in Bitcoin is greater than a lot of other people.

    The 2 solutions which have the most support seem to be Bitcoin Unlimited and SegWit/Lightning Network.

    And if you look at the bip-9-segwit chart on blockchain.info site you'll notice the miners have no incentive to fix the situation because with Lighting Network it's mostly off-chain transactions.

    I got the impression Bitcoin Unlimited had the least support, but I looked at the graphs again and it looks like they don't have a large number of nodes, but they do mine a lot of blocks. So my confidence in that BU could have an impact has increased.

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    Lennie

    We can discuss at length about which one it should be, I'm just saying, an alternative to Bitcoin should probably be added.

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