Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Bitcoin Forum => Topic started by: Domithra on December 22, 2018, 04:33:46 AM
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Scalability alone cannot kill Bitcoin although it is good for it to scale in order to achieve the daily usage of BTC in the purchase of goods and services, thus serving its first purpose as a currency. If BTC does not scale, it will still remain as a store of value which is already seen now - due to its limited supply, the increase demand will raise its value which will bring more profits to its investors/holders.
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For Bitcoin to maintain its market dominance for a very long time, it still needs to address its scalability issues. That is why they implemented the lightning network in the first place. If the dev team had not done that, I doubt bitcoin would still be as dominant as today.
Limited supply will not necessarily increase the demand (and value), it also needs to meet the demand of the market and one of which is scalability. What's the point of buying a cryptocurrency that you can hardly use?
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Bitcoin will remain as a store of value despite having scalability issue? If lightning network was not implemented, maybe that "store of value" will remain for a few more years but I doubt it will last even if it has the least supply.
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It should be able to scale. I do not think Bitcoin should be treated as some kind of a precious metal that you expect it to increase over time just because it has limited supply.
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Perhaps the problem of scaling can be solved by the Lightning Network (LN) protocol, but the development of this network is slow and takes several years. So say analysts.
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I don't think it is necessary to scale Bitcoin, and I am very confident that Bitcoin will continue to grow in the future, and always experience price increases.
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Scalability alone cannot kill Bitcoin although it is good for it to scale in order to achieve the daily usage of BTC in the purchase of goods and services, thus serving its first purpose as a currency. If BTC does not scale, it will still remain as a store of value which is already seen now - due to its limited supply, the increase demand will raise its value which will bring more profits to its investors/holders.
The assertion of many that due to the limited supply of bitcoins, it will increase significantly in price, is not so important. Bitcoin vseravno need to be competitive, otherwise he, like any cryptocurrency, will lose its popularity. And for this he needs to increase his scalability. The capacity of seven transactions per second does not paint the cryptocurrency leader.
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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.
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A limited number of bitcoins will not always be a reliable incentive to increase the demand for it. This is still the usual cryptocurrency, although the first among them. If Bitcoin will not improve and maintain its competitiveness, over time its popularity and demand, and hence its price will fall.
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For Bitcoin to maintain its market dominance for a very long time, it still needs to address its scalability issues. That is why they implemented the lightning network in the first place. If the dev team had not done that, I doubt bitcoin would still be as dominant as today.
Limited supply will not necessarily increase the demand (and value), it also needs to meet the demand of the market and one of which is scalability. What's the point of buying a cryptocurrency that you can hardly use?
Yes, that's right. Why use a cryptocurrency that it is hard to use. Anyway I believe, that Bitcoin will have it's place in the crypto world.
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If Bitcoin doesn't increase and maintain its competitiveness, over time its popularity and demand, and asks for prices to drop. A limited number of bitcoins will not always be a reliable incentive to increase demand for bitcoin. This is still ordinary cryptocurrency, remains the first among them.
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No need to scale for Bitcoin because pure Bitcoin is created for that (volatile).
If Bitcoin is Scale or stable later the price of Bitcoin will be stable and it will one day be used up in the mine and Bitcoin turnaround like that.
But if it's Volatile, there will definitely be price movements from up and down.