Post
Topic
Board Bitcoin Discussion
Re: Satoshi Nakamoto: "Bitcoin can scale larger than the Visa Network"
by
Lauda
on 12/03/2016, 09:54:04 UTC
The quote says one thing, reality says another.

Reality = right now you can't get to a blocksize where you can do visa level tx capacity.
In other words, just because Satoshi invented Bitcoin that does not mean that he knew it all. The current engineers (or everyone I guess) have so much data that has been gathered over the years. You can't get nowhere near Visa unless you want to run Bitcoin on a few data centers only (however, I'd argue that it would be near worthless then).

And this is similarly true, not only for bitcoin, but bitcoin-based clones and other blockchain-based systems.
Correct.

No need to form such a country to establish our bitcoin. A lot of transactions are being used with blockchain but visa usage is high due to the universal acceptance. But if bitcoin gets universal acceptance, it will be controlled by someone which causes a backing in growth.
No. Bitcoin can not be controlled by anyone. This is just false.