Topic: What will happen with Bitcoin if it never scales? - page 5. (Read 11417 times)
Then Bitcoin would become a store of value, more than Gold.
Bitcoin is currently worth more than gold. Most people buy Bitcoin to buy Altcoins rather than using it in practice. Whether Bitcoin is expanding or not, Bitcoin will never be forgotten.
So you are sayig that people buy bitcoin only to eventually buy altcoin and not to use it; and this is the reason bitcoin will not be forgotten... Well, strange thinking, I would say this is exactly the reason that the middleman (=bitcoin) will be eventually eliminated. 
i think in the future bitcoin will be forgotten like other coin.
I am afraid you may be right, that if Bitcoin developers sleep longer and don't develop (research and develop?) way for an on-chain scaling (not off-chain, like LN), Bitcoin will be forgotten ...Now there are more and more projects based on the blockchain of the 4th generation. The speed of transactions on these platforms is 10 times higher than the speed of Bitcoin transactions. Of course, Bitcoin remains the leading blockchain, but if no steps are made towards modernization, then the leading role of Bitcoin may take another currency.
i think in the future bitcoin will be forgotten like other coin.
I am afraid you may be right, that if Bitcoin developers sleep longer and don't develop (research and develop?) way for an on-chain scaling (not off-chain, like LN), Bitcoin will be forgotten ...
Part of the solution is Lightning Network. However, if I'm not mistaken is still in test mode. So I guess scalability will not be much of a problem in the future when the core and developers know what's missing and will not allow other electronic money to lead without a good fight. I was worried about another question. To be honest, bitcoin is the leading in the encrypted world and I never thought that other currencies would pass bitcoin in the future. When you meet someone and you want to talk to them about digital money, you must first mention bitcoin. So even if it never scale it would be a big shop of value, people would buy it then swap it with other codes especially ethereum or hyphens that is if they wanted have a faster transaction.
All must decide, and for the better! Bitcoin will remain and retain its value, and may even increase. Go to a higher asset class. And other coins will perform for him all the dirty work.
i think in the future bitcoin will be forgotten like other coin.
This problem has been solved in a few years. Some types of cache allow transactions to remain active while still being recorded on the blockchain. However, if I'm not mistaken I'm still in test mode. So I guess scalability will not be much of a problem in the future when the core and developers know what's missing and will not allow other electronic money to lead without a good fight. To be honest, bitcoin is the leading in the encrypted world and I never thought that other currencies would pass bitcoin in the future.
Bitcoin is currently worth more than gold. Most people buy Bitcoin to buy Altcoins rather than using it in practice. Whether Bitcoin is expanding or not, Bitcoin will never be forgotten.
Excellent way to compare! Many feel very safe with their asset being gold, Bitcoin will eventually take over.
Bitcoin is currently worth more than gold. Most people buy Bitcoin to buy Altcoins rather than using it in practice. Whether Bitcoin is expanding or not, Bitcoin will never be 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?
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?
I think many people have not accepted bitcoin because they do not really understand it or they are afraid of the risk that bitcoin brings. But if the bitcoin market returns soon and more people use bitcoin to trade more then that will help people to drop the negative thoughts about it.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?
If it doesn't scale through, then life goes on. It won't be the end of life. But i don't think bitcoin won't scale through, it will definitely scale through.
Yes whatever may happen will not totally affect our daily lives, but will be good if bitcoin will continue scale through this will be a good outcome for bitcoin and this will give us more profit too.
Scaling is really compulsory and not optional if we are to talk about massive global adoption. In fact, some are asking if the world is ready for bitcoin, but the more profound question is quite the opposite, is bitcoin ready for the world? And as of now, there is this constraint of scalability and it is not negligible.
Bitcoin had to to scale should it want more market activities and bitcoin knows exactly that. That is why we have witnessed a number of forks that took place in the past. This forks either soft or hard are proof that bitcoin will not stand still in the issue of scalability and that is good news for all of us.
Bitcoin had to to scale should it want more market activities and bitcoin knows exactly that. That is why we have witnessed a number of forks that took place in the past. This forks either soft or hard are proof that bitcoin will not stand still in the issue of scalability and that is good news for all of us.
This is a shaky point and an ancient argument
Basically, there are two camps which stick to quite polar views. One camp asserts that if a new break-through technology is implemented, for example, Lightning Network, or something even better, that would give Bitcoin a dramatic boost regarding its adoption and real use. But the supporters of this idea fail to give a plausible reason why it should happen if right now Bitcoin network capacity is not fully utilized anyway. Catchy phrases like whether Bitcoin is ready for the world don't fill that slack in this reasoning. The other camp, which I belong to myself, thinks that scaling up Bitcoin won't give anything in terms of adoption on its own. It won't boost demand just because of its very existence. Scalability issues will become such only when there is not enough processing capacity, and we are not there yet. Personally, I think that making Bitcoin transactions faster without adding excessive complexity and sacrificing decentralization (as LN assumes) would be a better solution in the short term if these issues actually start to impede Bitcoin's use. Though we already have Litecoin which does all that out of the box
Honestly speaking, bitcoin is the leading in the crypto-world and I don't ever thought others coins will overcome bitcoin in the future.
Yes sir! Bitcoin is King and will always be the King of cryptocurrencies no matter if it scales or not. All the altcoins I know of, depend heavily on Bitcoin's price movements, so if Bitcoin can't scale, then other altcoins wouldn't be able to successfully scale to a large mass either. There have been many altcoins which claimed to be superior than Bitcoin in terms of transactions per second, but none have been battle tested as Bitcoin. What I think is that if Bitcoin scales successfully, then other altcoins would do the same. Bitcoin is like experimental grounds for most cryptocurrencies we know and love today, which explains why all the eyes are still in the original cryptocurrency for quite some time.
But, if Bitcoin never scales then it's fine, because we would be able to continue using Bitcoin as a store of value with unmatched security and reliability unlike any other blockchain in existence. Therefore, scaling Bitcoin is only optional with the goal of making it useful as digital cash. It could continue to operate as intended without scaling but remaining as a store of value for the masses.
Scaling is really compulsory and not optional if we are to talk about massive global adoption. In fact, some are asking if the world is ready for bitcoin, but the more profound question is quite the opposite, is bitcoin ready for the world? And as of now, there is this constraint of scalability and it is not negligible.
Bitcoin had to to scale should it want more market activities and bitcoin knows exactly that. That is why we have witnessed a number of forks that took place in the past. This forks either soft or hard are proof that bitcoin will not stand still in the issue of scalability and that is good news for all of us.
Honestly speaking, bitcoin is the leading in the crypto-world and I don't ever thought others coins will overcome bitcoin in the future.
Yes sir! Bitcoin is King and will always be the King of cryptocurrencies no matter if it scales or not. All the altcoins I know of, depend heavily on Bitcoin's price movements, so if Bitcoin can't scale, then other altcoins wouldn't be able to successfully scale to a large mass either. There have been many altcoins which claimed to be superior than Bitcoin in terms of transactions per second, but none have been battle tested as Bitcoin. What I think is that if Bitcoin scales successfully, then other altcoins would do the same. Bitcoin is like experimental grounds for most cryptocurrencies we know and love today, which explains why all the eyes are still in the original cryptocurrency for quite some time.
But, if Bitcoin never scales then it's fine, because we would be able to continue using Bitcoin as a store of value with unmatched security and reliability unlike any other blockchain in existence. Therefore, scaling Bitcoin is only optional with the goal of making it useful as digital cash. It could continue to operate as intended without scaling but remaining as a store of value for the masses.
If it doesn't scale through, then life goes on. It won't be the end of life. But i don't think bitcoin won't scale through, it will definitely scale through.
If bitcoin never scale,turning it to 0 value and it dies, Do you think other altcoins can survive without it? With the prevailing market dump, others and their coins had to wait till it scales. People will endure a while till it revives, even if it takes 2 years.
It will become obsolete. As for a store of value, it depends on enough people wanting to buy it.
Now, why would anyone buy it? That's the question.
Now, why would anyone buy it? That's the question.
Because it retains its value. Because its value isn't impacted by country or geo-political risk. Because its supply is finite (once mined). Because its supply isn't influenced susceptible to nefarious manipulation. Because Casascius coins are shiny like gold!
If we ever agree that it has no value, it will have no value. Just like the Dollar...the only reason it has value is because we all agree that it does.
Much of the value for bitcoin as shifted from being that of a currency to more of being an asset or a store of value,much like gold.It will remain so even if it never scales
I think bitcoin is the face of digital currency. When you meet someone and you want to tell them about digital currency you must first mention bitcoin. You cannot mention all coins, but at least the history will be traced to bitcoin. So even if it never scales it will be a great store of value, people will buy it then exchanges it with other crypto particularly ethereum or dash that is if they want a faster transaction.
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