Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
It feels like the cryptomarket is just waiting for a solid scaling solution to happen for the price to skyrocket...
Yeah right. Haven't you figured it out yet that the scaling issue (solution) is just made up?
The fact of the matter is that scaling is always going to be some kind of concern/issue in bitcoin, and accordingly, from time to time there are going to need to be adjustments and tweaks to balancing usefulness, security and spam... Currently, the blocksize limit is not a problem, and it is just a fabricated problem. There are tweaks in the works including seg wit that are going to bring additional functionality and abilities to process larger volumes...
The other fact of the matter is that the price is merely going through a consolidation that is not really very connected to scaling - but instead just questions about whether the price is going up or down (which includes some considerations regarding whether we are going to experience another Bitfinex fiasco). The recent bitfinex fiasco likely brings some hesitations concerning whether the next pump is going to be up or down.
I disagree , I think scaling (and LN in particular) deserves all the attention it is getting.
Once we have great scale, and improved privacy/fungibility, we are technically golden imho. All the other bells and whistles that will be added are just extras. The only thing I would still really worry about is government reaction to improved privacy (which I would partially understand from their point of view). And of course security could be an issue (Imagine if all or most Trezors became compromised
), but I expect security practices to keep improving over time.