there may be a lot of hindrance for this thing to happen.
and the most obvious one is the transaction speed.
we cant deny the fact that if it will be used as a payment system many people will complain about its speed.
whether you are the buyer or the seller you will be having a hard time waiting for your transactions to be completed.
Topic: Can Bitcoin scale to become a major payment network? - page 2. (Read 273 times)
bitcoin IS scaling as we speak. it starts with SegWit and how that has been increasing the capacity. so far we have seen 2MB+ blocks be mined when the adoption of it was increased. there are other proposals such as Shnor signatures that will also help with this on chain scaling.
there is also the side chain solutions that are currently in the bug testing process. Lightning Network for instance is currently at ~200 nodes and the network of it grows fast.
with things like LN there is no scaling anymore, they can handle virtually limitless number of transactions and instantly.
True, scaling has been an issue for quite some time but to deny the progress we have made in the past year will be a mistake, not only because that will be denying reality but also because it was a costly victory for the devs, they were able to activate segwit but as a result lots of bitcoin forks came out and have done nothing but to make bitcoin seems like joke with coins like bitcoin diamond or bitcoin silver. there is also the side chain solutions that are currently in the bug testing process. Lightning Network for instance is currently at ~200 nodes and the network of it grows fast.
with things like LN there is no scaling anymore, they can handle virtually limitless number of transactions and instantly.
Can Bitcoin scale to become a major payment network?
Given the proper items for accommodation or the proper technologies to let it be online. THen i think it can be with people clamoring for more cashless and digitized payment setting I think that it is just right that if given more time it can have more time to scale into a payment system that can be used and the utilized not just by a single entity but by the whole world
Bitcoin is a digital money that supported by many users all around the world so to become major payment i think it can,if we have English as an international language we can also think that we can have international money like this digital currency that can easy way to transfer money all over the world in just one click not like bank that you need a lot of confirmation before you already got your money.
bitcoin IS scaling as we speak. it starts with SegWit and how that has been increasing the capacity. so far we have seen 2MB+ blocks be mined when the adoption of it was increased. there are other proposals such as Shnor signatures that will also help with this on chain scaling.
there is also the side chain solutions that are currently in the bug testing process. Lightning Network for instance is currently at ~200 nodes and the network of it grows fast.
with things like LN there is no scaling anymore, they can handle virtually limitless number of transactions and instantly.
there is also the side chain solutions that are currently in the bug testing process. Lightning Network for instance is currently at ~200 nodes and the network of it grows fast.
with things like LN there is no scaling anymore, they can handle virtually limitless number of transactions and instantly.
I think the potential of btcoin is huge. So, it can happen. But it takes a lot of time for it to become a global network because it is experiencing some difficulties such as slow transactions and huge costs and it is limited in some countries. In the future it will overcome difficulties and it will become the international payment network
You know since it's unregulated there were people who took advantage of that and Bitcoins were used in undercover business and illegal things too.
For the them it was a large payment network and for some parts it still is , I don't think that this happened because they realized that it is beneficial for them to be unregulated by the government, and as Soon as other people come to realize how well it suits their demands they will start using it on a large scale and it is possible for sure
For the them it was a large payment network and for some parts it still is , I don't think that this happened because they realized that it is beneficial for them to be unregulated by the government, and as Soon as other people come to realize how well it suits their demands they will start using it on a large scale and it is possible for sure
I think it takes a long time to realize!
Because BTC is not legal in many countries! In some legitimate countries, such as Japan, BTC can be traded in many places! Many website transactions also support BTC payment!
Because BTC is not legal in many countries! In some legitimate countries, such as Japan, BTC can be traded in many places! Many website transactions also support BTC payment!
Many members are also thinking of the same thing in another thread.
This can happen if everyone on earth already knows of the bitcoin and switches to a day's use. it takes time to get there.
I think it takes a long time to realize!
Because BTC is not legal in many countries! In some legitimate countries, such as Japan, BTC can be traded in many places! Many website transactions also support BTC payment!
Because BTC is not legal in many countries! In some legitimate countries, such as Japan, BTC can be traded in many places! Many website transactions also support BTC payment!
Can Bitcoin scale to become a major payment network?
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