Post
Topic
Board Economics
Re: Is bitcoin now the strongest currency in the world?
by
teamcryptonator
on 23/11/2017, 21:24:28 UTC
After the events of last week.

I was making this suggestion to some folks yesterday, but they claimed that bitcoin is too small.  Does it matter?
Bitcoin is not the strongest currency in the world but it is the strongest digital currency in the world. But it has potential to grow and one day become a global currency. This will also make it the strongest currency in the world. Bitcoin is increasing day by day as more and more people are joining it and investing in as as they come to know about its price and value at this’s growth rate bitcoin will take only few years to become the world’s strongest currency I think.

How could it become a world currency? For example, tomorrow BTC ecosystem will get 100 million new users, all of them will create wallets and buy coins. Price will pump, it's normally market reaction. But what about number of operations per second? What will be with fees(it is too cost to trasfer bitcoin now, so what will be than)? If there will be to many users, to many operations — could bitcoin system withstand loads?
I think it can they may increase the feeses but do not forget that the price of bitcoin is also going to increase so it would still be the same price to pay fees it just looks like a lot to pay.
The biggest problem of Bitcoin isn't the price of Bitcoin. It is the about the transaction. Transaction fees and confimation time of Bitcoin's transaction always make the Bitcoin system worse than other cryptocurrencies system. I do not understand why do the devs of Bitcoin not help Bitcoin system become better more. Sad