You assume that the idea of crypto-currency has already scaled. It hasn't. And if Bitcoin is the lead (by far) crypto-currency, and it hasn't scaled as a currency, no crypto-currency is likely to scale to mass adoption.
The real barrier that I see is stability of price. It's hard for a merchant to have faith in accepting bitcoin if they don't have confidence that the revenue they earned today will have the same value as tomorrow. Certainly there's upside but we've seen plenty of bitcoin crashes too. So if merchants don't have faith in the stability of the currency they'll need a fast option to convert bitcoin received to fiat, and that kind of speed doesn't happen with Core (does it?)
Another question: Does bitcoin need to scale as a currency to remain valuable and important? What if bitcoin scales as a store of value investment?
Topic: What will happen with Bitcoin if it never scales? - page 22. (Read 11417 times)
If bitcoin gains so much value in time, it won't make any sense to use it for small transactions.
On the other hand, If we don't see a development about the problem, the price may not climb at all. It's a problematic situation in every way.
On the other hand, If we don't see a development about the problem, the price may not climb at all. It's a problematic situation in every way.
If you read Core's road map they want it to be able to scale both on chain and off when necessary. They just want it done slowly and safely as possible.
Bitcoin will be forgotten. That will probably will happen if Bitcoin never scales. No one will use an obsolete currency specially the kind of currency where bitcoin belongs depends on the technology and scalability.
Something that ceased to update/upgrade will never be valuable in technology, they will become obsolete and forgotten.
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?
-> Probably bitcoin will no longer be used for micro transactions but it can remain as valuable assets. Actually most of the people are buying bitcoin as investment rather than to use in their daily life, so new money may keep on pouring causing pump on price in future too.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?
Something that ceased to update/upgrade will never be valuable in technology, they will become obsolete and forgotten.
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?
-> Probably bitcoin will no longer be used for micro transactions but it can remain as valuable assets. Actually most of the people are buying bitcoin as investment rather than to use in their daily life, so new money may keep on pouring causing pump on price in future too.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?
-> Other alts have already taken some piece from bitcoin's marketcap but money will keep flowing between bitcoin and alts. This may also continue in future too, but i don't think any other coin can replace bitcoin from top position in marketcap due to different facts and one of the reason is that all other alts doesn't have big community support and their supply is either very high or is not limited.
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?
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