Much of the debate surrounding bitcoin's scaling problem seems to stem from two different visions of what bitcoin should be right now: a store of value or a peer-to-peer digital cash system. Both sides agree that in the long run both of these properties should be met, but the question is: Will bitcoin hold value even if TX throughput does not scale soon or do we risk losing our first mover advantage if bitcoin is not able to fulfil its promises as a peer-to-peer cash system soon.
I would love to hear some arguments from both sides of this debate
As long as China has monetary problems, I dont worry about Bitcoin, since that is the main source of cashflow into Bitcoin.I would love to hear some arguments from both sides of this debate
But as a global vehicle for wealth storage. Well, first you have to get these smartasses to listen to you.
what if i was to blow your mind and say that OKcoins 30k volume is not actually 30,000 people exchanging 1btc once. or 1person exchanging 30,000 coins once
what if i told you it was just 100 people exchanging just 0.3btc each ...1000 times a day
china (1.3billion people) are not hoarding 1-30,000 coins each.
china (1.3billion people) are not hoarding 1 coins each.
china (1.3billion people) are not hoarding 0.00000x coins each.
china (1.3billion people) are not even involved in bitcoin.. only a couple hundred people and only small amounts are played per day. once you realise how day trading works.
many miners dont use 'public' exchanges. they do private OTC exchanges with VC's behind closed doors.
the mining pools are not that impacting of public xchanges with their hoards of fresh minted coins..
all they need to do is use a small amount on an exchange to day trade multiple times a day to cause a volume rise and also affect the price.
just look at the trade history.. you dont see orders of 12.5btc every 10 minutes or a large 75btc order an hour or a 1800btc order hit the market each day.
instead its lots of under 1btc orders. which make the lack of real liquidity because theres only a few thousand coins in reserve get smacked around a bit not needing thousands of coins to smack it but single to double figures done repeatedly
