Post
Topic
Board Bitcoin Discussion
Re: What will happen with Bitcoin if it never scales?
by
Abiky
on 24/05/2018, 00:10:04 UTC
Bitcoin can still exist but will not be able to last forever. Some of the more technologically advanced platforms will replace Bitcoin and crypto. We do not want that to happen


Sadly, that might happen with Bitcoin in the future if it doesn't scale to meet the demands of everyday people. Right now, there are many altcoins which are superior than Bitcoin in terms of speed and scalability. They've implemented several features that would allow them to scale with minimal effort whatsoever while preserving the security of the ledger. One good example of this, are DAG-based cryptocurrencies like Nano, IOTA and ByteBall.

Such altcoins have the potential to scale to millions of users, without downtime or a decrease in the network's transaction processing time. If they manage to become extremely popular and adopted in the mainstream world, then they could easily overtake Bitcoin as they'll retain their speeds while maintaining costs as low as possible. And best of all, these DAG-based coins have zero fees which promotes micropayments anytime, anywhere. However, all of this could change if Bitcoin successfully adopts the Lightning Network at a large scale. Once this happens, people will use Bitcoin again as a currency (and not a store of value) allowing its price and demand to increase over time.

Nevertheless, time will tell how and when will Bitcoin scale to attract new people into it. Just my thoughts Grin