Topic: What will happen with Bitcoin if it never scales? - page 11. (Read 11417 times)
I dont even like to imagine a scenario where bitcoin fails to scale, because it could get very ugly for all cryptocurrencies in the market...
if Bitcoin is the main currency (so far) crypto currency, and it has not been scaled as currency, there is no crypto currency that tends to scale for mass adoption.
The real obstacle I see is price stability. It's hard for merchants to have confidence in receiving bitcoin if they do not have confidence that the income they produce today will have the same value as tomorrow.
The real obstacle I see is price stability. It's hard for merchants to have confidence in receiving bitcoin if they do not have confidence that the income they produce today will have the same value as tomorrow.
At first bitcoin is indeed accepted as an asset. It's just the development until now bitcoin serve as a means of payment. If bitcoin never scales in my opinion bitcoin will remain an assetand the use of bitcoin as a means of payment will decrease. If comparing the value, volume and circuating supply between bitcoin and altcoin to date, I think nothing will replace bitcoin.
in fact all there are positive and negative impact. if bitcoin scales and keeps growing its value higher, it can actually make its value will be destroyed someday. because bitcoin is considered a medium of digital investment and not a benchmark of exchange from currencies around the world. long-term effects, can affect the performance of banks in a country.
If bitcoin never scales:
1. The usage will definitely go down and other cryptocurrencies will take its position. So scaling is important for Bitcoins to move to a higher level in terms of technology.
2. With new crypto technologies/currencies launching every now and then, the bitcoin dominance (market share) will be expected to go down
3. However, Bitcoin is the father of all the currencies, It is known as digital gold. It can still be taken as a 'store of value'. We can still buy them and hoard them as digital gold as they do for physical gold or diamond.
4. It can be held as a precious thing, which can be passed through generations (hope this happens
5. Bitcoin has a first mover advantage, and all the other cryptos take learnings from it. So existence is supposed to be intact and should survive for years to come, even if the scaling does not happen.
1. The usage will definitely go down and other cryptocurrencies will take its position. So scaling is important for Bitcoins to move to a higher level in terms of technology.
2. With new crypto technologies/currencies launching every now and then, the bitcoin dominance (market share) will be expected to go down
3. However, Bitcoin is the father of all the currencies, It is known as digital gold. It can still be taken as a 'store of value'. We can still buy them and hoard them as digital gold as they do for physical gold or diamond.
4. It can be held as a precious thing, which can be passed through generations (hope this happens
5. Bitcoin has a first mover advantage, and all the other cryptos take learnings from it. So existence is supposed to be intact and should survive for years to come, even if the scaling does not happen.
What do you think that might happen with Bitcoin if no scalable solution becomes accepted?
Will it remain as a store of value, while other altcoins take the lead for everyday transactions? Or will another cryptocurrency take its place as the top in marketcap?
I would like to know your thoughts about this, as the ongoing scaling debate will further limit Bitcoin from reaching new heights. As for me, I believe that the Bitcoin community would come up at a resolution somehow to put an end to this issue, and make the pioneer cryptocurrency great again. What do you think?
at this time no one can confirm it but I am sure bitcoin will remain the best coin even when the price of crypto coins has decreased very drastically bitcoin still remain the highest value if the cryptocurrency is not scale I think we just need to be patient and confidence in bitcoinWill it remain as a store of value, while other altcoins take the lead for everyday transactions? Or will another cryptocurrency take its place as the top in marketcap?
I would like to know your thoughts about this, as the ongoing scaling debate will further limit Bitcoin from reaching new heights. As for me, I believe that the Bitcoin community would come up at a resolution somehow to put an end to this issue, and make the pioneer cryptocurrency great again. What do you think?
for me the same thing will happen to bitcoin that happens to other industries that don't improve if it doesn't scale. There are too many others waiting to take its place,Bitcoin takes such strong positions in the cryptomarket because of its popularity. If people start using other crypto currencies for daily transactions, then bitcoin will decrease in price and demand for it will fall.
The bitcoin is in real need of some kind of standart to make this currency more trust worthy and user friendly otherwise the process of acceptance would take too long and make this currency more weak and unstable.
The best solution is to go for another one that offer us what we need. Don't force it if it really does not work. We have some blockchain that are already doing better than bitcoin and I know that one of them will be the next heir to the throne.
I am certain individuals whom we trust managing Bitcoin are additionally thinking about a similar inquiry at this moment. Truth be told, this is at the core of the continuous level headed discussion at the present time on the most proficient method to scale Bitcoin most particularly when anticipating what's to come. I am certain however that the entire Bitcoin people group can have the capacity to locate an acknowledged answer for this scale challenge. Toward the end, Bitcoin will proceed to control and be the pioneer of the digital currency world. I am so certain about that. Every single other coin will simply take after along however they can have a decent cut of the pie as well.
What do you think that might happen with Bitcoin if no scalable solution becomes accepted?
Will it remain as a store of value, while other altcoins take the lead for everyday transactions? Or will another cryptocurrency take its place as the top in marketcap?
I would like to know your thoughts about this, as the ongoing scaling debate will further limit Bitcoin from reaching new heights. As for me, I believe that the Bitcoin community would come up at a resolution somehow to put an end to this issue, and make the pioneer cryptocurrency great again. What do you think?
Will it remain as a store of value, while other altcoins take the lead for everyday transactions? Or will another cryptocurrency take its place as the top in marketcap?
I would like to know your thoughts about this, as the ongoing scaling debate will further limit Bitcoin from reaching new heights. As for me, I believe that the Bitcoin community would come up at a resolution somehow to put an end to this issue, and make the pioneer cryptocurrency great again. What do you think?
hard for altcoins to beat the dominance of Bitcoin, because the mains of all Altcoins are Bitcoin itself.
and this year Altcoins market is almost the same as Bitcoin, when Bitcoin drops then Altcoins goes down, and when Bitcoin goes up then Altcoins goes up.
Yeah thats true. Bitcoin is still the king of all cryptocurrencies. But in history, king is not sitting in the throne forever.
We dont know what will happen in the future. Theres a lot of possibilities that we cant predict.
Maybe in the future theres a much better platform other than bitcoin that could rival it.
But as of now i cant see other altcoin closing to the level of bitcoin.
What do you think that might happen with Bitcoin if no scalable solution becomes accepted?
Will it remain as a store of value, while other altcoins take the lead for everyday transactions? Or will another cryptocurrency take its place as the top in marketcap?
I would like to know your thoughts about this, as the ongoing scaling debate will further limit Bitcoin from reaching new heights. As for me, I believe that the Bitcoin community would come up at a resolution somehow to put an end to this issue, and make the pioneer cryptocurrency great again. What do you think?
Will it remain as a store of value, while other altcoins take the lead for everyday transactions? Or will another cryptocurrency take its place as the top in marketcap?
I would like to know your thoughts about this, as the ongoing scaling debate will further limit Bitcoin from reaching new heights. As for me, I believe that the Bitcoin community would come up at a resolution somehow to put an end to this issue, and make the pioneer cryptocurrency great again. What do you think?
hard for altcoins to beat the dominance of Bitcoin, because the mains of all Altcoins are Bitcoin itself.
and this year Altcoins market is almost the same as Bitcoin, when Bitcoin drops then Altcoins goes down, and when Bitcoin goes up then Altcoins goes up.
The decentralization system certainly makes all things scaled, prices can go up and down thousands of dollars a day, of course this is a very interesting thing because everyone is speculating buying bitcoin in the hope that prices skyrocket in a short time.
Scaling and decentralization are entirely different thing altogether 
, we have a scaling solution now and that is lightning network and we will see how things will go from this situation, it will take a longer period of time for everything to sort things out and if that happens it will sort most of the problems.
For those of us who are accustomed to cryptocurrency using the decentralization system then it is normal if prices rise or fall significantly, but this is a profit because we can get profit even though the price is down.
There is no need to assume that Bitcoin wouldn't ever scale. It is because there are many working solutions which can help Bitcoin to become used by much more many people. Lightning Network works quite well, transactions cost about 1 satoshi and they are confirmed instantly. The only problem is that there are not many merchants who accept lightning network payments. Also, there aren't many client which support lightning network yet so we will have to wait a few months before this scalability solution becomes a real thing. Give it some time, don't panic.
The decentralization system certainly makes all things scaled, prices can go up and down thousands of dollars a day, of course this is a very interesting thing because everyone is speculating buying bitcoin in the hope that prices skyrocket in a short time.
Will it remain as a store of value, while other altcoins take the lead for everyday transactions? Or will another cryptocurrency take its place as the top in marketcap?
I'd say we're already at the point alts are more handy for eeveryday use, but I tend to say Bitcoin will stay on top of CC's.
No matter what area of life it is evolution is inevitable, BTC itself was a big revolution but decade after its launch we are seeing issues like slowness and high transaction fees associated with BTC transaction. BTC has to overcome these challenges else it will be very soon overtaken by coins that are lightning fast with zero transaction fee.
Fortunately, with the introduction of the Lightning Network, and Schnorr Signatures, Bitcoin would become more efficient in handling day-to-day transactions. Speeds will be instant, while fees will be almost free. As such, Bitcoin could scale to millions of users easily without sacrificing its decentralization. If developers, and the community, take the effort to make Bitcoin great again, then it would most likely succeed in the future.
However, if Bitcoin doesn't manage to scale (which I doubt it) then other altcoins will take the lead as they're faster, cheaper, and have better features than Bitcoin itself. Cryptocurrencies like Dash provides instant speeds with its "Instant Send" features, while others like Stellar and Ripple are extremely fast and cheap. Therefore, only time will tell whenever Bitcoin could keep up with the competition in the cryptocurrency market, with other alternatives that have better features than it. Just my thoughts
What do you think that might happen with Bitcoin if no scalable solution becomes accepted?
Will it remain as a store of value, while other altcoins take the lead for everyday transactions? Or will another cryptocurrency take its place as the top in marketcap?
I would like to know your thoughts about this, as the ongoing scaling debate will further limit Bitcoin from reaching new heights. As for me, I believe that the Bitcoin community would come up at a resolution somehow to put an end to this issue, and make the pioneer cryptocurrency great again. What do you think?
at this time no one can confirm it but I am sure bitcoin will remain the best coin even when the price of crypto coins has decreased very drastically bitcoin still remain the highest value if the cryptocurrency is not scale I think we just need to be patient and confidence in bitcoin Will it remain as a store of value, while other altcoins take the lead for everyday transactions? Or will another cryptocurrency take its place as the top in marketcap?
I would like to know your thoughts about this, as the ongoing scaling debate will further limit Bitcoin from reaching new heights. As for me, I believe that the Bitcoin community would come up at a resolution somehow to put an end to this issue, and make the pioneer cryptocurrency great again. What do you think?
What do you think that might happen with Bitcoin if no scalable solution becomes accepted?
Will it remain as a store of value, while other altcoins take the lead for everyday transactions? Or will another cryptocurrency take its place as the top in marketcap?
I would like to know your thoughts about this, as the ongoing scaling debate will further limit Bitcoin from reaching new heights. As for me, I believe that the Bitcoin community would come up at a resolution somehow to put an end to this issue, and make the pioneer cryptocurrency great again. What do you think?
The point of success at which the bitcoin is like impossible to overtake and no other crypto currency has that potential that it can replace the position of bitcoin from the market . A decade before when bitcoin was introduced, it was unknown to every one and those who believe bitcoin that time are now bitcoin billionaires so bitcoin itself is a revolution, though bitcoin has several limitations like high transaction fee, illegal use but I am sure in future bitcoin will come up as a crypto currency without any limitations. Will it remain as a store of value, while other altcoins take the lead for everyday transactions? Or will another cryptocurrency take its place as the top in marketcap?
I would like to know your thoughts about this, as the ongoing scaling debate will further limit Bitcoin from reaching new heights. As for me, I believe that the Bitcoin community would come up at a resolution somehow to put an end to this issue, and make the pioneer cryptocurrency great again. What do you think?
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