Topic: Bitcoin - 2 SCENARIOS (Read 148 times)
Bitcoin as a currency possesses a lot of possibilities especially in the current situation that it is still developing and gaining a lot of investors. In the network, it still has a lot of possibilities that can be used by other consumers in the market such as lower fees in faster transaction. We all know that most miners prioritize the transactions that are paid with a high fee. How about a network that will control all these transactions? We all know that Lightning Network is one of those. We need to stabilize the transactions even more. There are over 37k unconfirmed transactions by now and it is really quite scary because we never know how much it could affect the future use of Bitcoin. When large companies start to use this like today, Microsoft, how much could it impact the company when all those money written in the blockchain starts to get unconfirmed. It will still be confirmed, but there could be situations where it is needed the most such as for income taxes. It will be a major impact to the company to not pay these obligations in time.
Can be mix of your scenarios, transactions fees will be high because network can not serve everyone.
Price always rulling on this market
Price always rulling on this market
that is simplifying the situation by a lot. it is not just 2 scenarios, there are a lot of different things that can happen. and remember that (for good or bad) the investors have proven they don't care much about bitcoin transaction fees since one of the biggest rises of bitcoin happened during one of the highest fee periods that bitcoin ever had! the fees were $100 and price kept going up from $8000 to $20000
also I would like to say that your #1 will probably never happen because if we assume people move on to altcoins because bitcoin fees were high, that means these altcoins which were not being used before and had nearly empty blocks will start to handle a lot of transactions and have their blocks fuller. and eventually you will see how they suck at scaling worse than bitcoin.
and we started this scenario with the assumption that "people move away from bitcoin because of fees" so it is s till true, and as fees of altcoins grow they should move away from them. but to where? back to bitcoin!
also I would like to say that your #1 will probably never happen because if we assume people move on to altcoins because bitcoin fees were high, that means these altcoins which were not being used before and had nearly empty blocks will start to handle a lot of transactions and have their blocks fuller. and eventually you will see how they suck at scaling worse than bitcoin.
and we started this scenario with the assumption that "people move away from bitcoin because of fees" so it is s till true, and as fees of altcoins grow they should move away from them. but to where? back to bitcoin!
Guys, I have two possible scenarios for Bitcoin at the moment:
1. Bitcoin transaction fees and time will stay high and therefor Bitcoin will only have to lose, and it will keep losing to a point when will no longer be in Top 5-10 Crypto and the Altcoins will dominate the market
2. Bitcoin transaction fees and time will be SIGNIFICANTLY improved and Bitcoin will be the rulling crypto forever
What's your opinion?
1. Bitcoin transaction fees and time will stay high and therefor Bitcoin will only have to lose, and it will keep losing to a point when will no longer be in Top 5-10 Crypto and the Altcoins will dominate the market
2. Bitcoin transaction fees and time will be SIGNIFICANTLY improved and Bitcoin will be the rulling crypto forever
What's your opinion?
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