Yes, bitcoin is a near perfect currency on the on-chain settlement layer but very inneficient as payment network, since it can't scale on-network, therefore it will need offchain solutions like lightning network and such.
franky1 incoming in 5....4....3....2....1.....
Topic: Bitcoin is a revolutionary currency but a fairly inefficient payment network - page 6. (Read 4476 times)
October 18, 2016, 06:29:28 PM
October 18, 2016, 06:21:29 PM
Bitcoin is a revolution currency but bitcoin is a fairly inefficient payment network. The latter is a perfectly fine consequence of the former. If people turn this on its head and try to market bitcoin as a payment rail where the currency is an unfortunate requirement, it would be immediately out competed in the market by better payment systems which are fundamentally more scalable than the decentralized Bitcoin system or which don't require costly and unpredictable currency conversion.
Source: https://www.reddit.com/r/btc/comments/57zhd2/another_ridiculous_claim_from_lukejr_in_the/d8wb4hl
Source: https://www.reddit.com/r/btc/comments/57zhd2/another_ridiculous_claim_from_lukejr_in_the/d8wb4hl
Jump to: