The main argument when talking about crypto used to be cheap transfer prices, fast transfer times and freedom where nobody could stop your transfer from happening.
But you wish.... today my transactions that cost at least 15 USD are not going through and average cost for most of them starts at 60 USD :)
And we are far from mass adoption :) What would prices would be then at current tech?
Ethereum does not scale, all it takes is one successful app like CryptoKitties to clog the entire network. For microtransactions it is better to use a second layer solution or a less frequented chain. Ethereum is good for high value transactions like investing millions in ICOs or DeFi but not for microtransactions.
Yes, but look.. Dex`es like Uniswap or similar that are operating on Eth chain. With a transaction fee being 50 USD or even more they will not be able to operate efficiently. In such case it's more efficient to use centralized exchanges for trades that are up to 10k usd as it would be cheaper in paid commissions.
It would go to ridiculous levels if let's say Uniswap gets even bigger traction and or eth price will rise to 5k or so :) Fees would be ridiculous then, that would kill the whole purpose of Defi. At least for the poor as rich would not mind. Oh wait, i''ve seen this somewhere haven't I? :)
Meanwhile my transaction with 20 USD in fees is still stuck :) Which means that potentially my wife and children are starving :) Or i am unable to pay for my groceries with Eth based currency. Nor would i choose to pay with BTC based currency.. so what would i choose to pay for my groceries? :)