Re: If not a "store of value" or "medium of exchange" ...

bitcoin is a store of value. as it first needs to be a store of value to then be a medium of exchange.
by this i mean if having no value, people wont want to exchange it.

I'm not trolling, OK? But I believe we debated about this before, and you said that Bitcoin should be a medium of exchange first to be valuable, and that because of small blocks, Bitcoin cannot be a medium of exchange. Or am I confused?

It must be 'easy' exchangable to get value at all - if u cannot transfer, nobody wants it / can handle it -> useless Wink

Bitcoin should be P2P cash - per definition. so it should be free to transfer

But if no one wants to hold it, no one would accept it as a medium of exchange. "Medium of exchange" is not only for its sake. It also has to be a store of value, for later use as a medium of exchange. Cool

We know, it is chicken & egg.

But Bitcoin is fully digital / electronic

So it MUST be the cheapest and easy medium of exchange - it's purely intuitive and it is even TOP LEVEL ADVERTISED as the NEW e-cash

so what is the issue ? BTC is not Bitcoin and money any more - it cannot be a store of value for its only sake Wink

I would say yes to all of that, if the technical solution was as easy as increasing the block size to increase transaction throughput, BUT without preventing the network from scaling out.

Bitcoin was designed to be digital - it does not need artificial barriers - it can do, what computers can do - so let it do - it is honest by design

You're trolling.

Newbies, in reality there are barriers to scaling. It can't scale on-chain without centralizing the network, and giving up some of its actual value proposition, which is censorship-resistance.

That is precisely the reason why scalability remains a problem as far as the Bitcoin network is concerned. And this problem will get more and more serious as Bitcoin is getting the adoption and actual utility as a mode of exchange that everyone is dreaming of.

Segwit provided a solution, a little solution, a temporary one, to the gigantic problem of scalability. But as more and more people adopt Bitcoin, the problem will arise once again.

Lightning network is another solution to this big problem. But, as mentioned, "It can't scale on-chain without centralizing the network."

There we go! There is a real barrier in there.