This is the biggest lie of all cryptocoins - that these coins are more convenient for spending than fiat money. It works only if you buy illegal (drugs) or barely legal (webcam girl show) stuff. All the other things are better to purchase with VISA or Paypal, because they protect customers. In Bitcoin et al. it's merchants who are protected. The case is different if customer = machine, because they can't buy stuff with "paper" money.
I agree, the other issue is that people love to say bitcoin is much cheaper than paypal etc due to lower fees during transmission but the they forget to factor in the buy/sell spread. On localbitcoin for example it is around 7%
The only reason people feel secure in BTC is the ease of exit to Fiat, not the ability to spend it anywhere, which people really don't do. Consumers drive markets, which is why OB will fail, it caters to the seller as a better way to make money (no fees) but offers no advantage to the buyer. BTC as it is will not succeed as a currency beyond dark markets, but may succeed as a store of value. Iota is targeting an entirely different market and not pretending to be money.
People will look back on POW in years from now as a very antiquated, wasteful and centralized protocol. BTC is being run by a handful of people, both from core development and mining.
