(Photo : Who Will Win the Blockchain Payment Race? )
When Satoshi Nakamoto created Bitcoin, the original intention, as stated in the white paper, was for it to be a peer-to-peer electronic cash system. For the avoidance of any doubt, Satoshi referred to the possibility for small casual transactions and the concepts of disputes between merchants and buyers in the introductory paragraph. Therefore, Satoshi s objective that Bitcoin was a medium of exchange was in evidence from the very beginning.
Of course, Bitcoin s inherent scalability issues became apparent from its earliest days. Expecting merchants and customers to stand at a checkout waiting ten minutes or more for a transaction to clear was never realistic.