Post
Topic
Board Bitcoin Discussion
Re: is bitcoin scalability problem solve now?
by
Tytanowy Janusz
on 01/01/2022, 12:12:10 UTC

Ok, but when will bitcoin be "scalable". It all depends on how we define its purpose. It will never be as scalable to outperform visa to serve as everyday payment solution for whole word (7.7B people). But if we are talking about bitcoin as "digital gold" "plan B" product ... 7tx/s may already be scalable enough at least for now (empty Mempool for last 6 months proves that). Because we need high decentralized, high secured chain for storing coins on coldwallets and to transfer them once per ... 1 moth - 10years ... depends how good hodler you are. We can use off-bitcoin-chain solutions (WBTC) for everything else. And it already started. As I pointed before. BEP-20 BTC is already offloading somewhere around 30k TX daily which is 5-10% of all transactions of bitcoin chain. Its aint much if you want btc to be as scalable as Visa, but it is enough to help BTC be <1$tx "digital gold" chain for a little bit longer.

And I agree that WBTC and other solutions that uses other, less secured, more centralized chains/products is the worse place to hodl your bitcoins, but they are perfect in some situation (one mentioned by me earlier - transfer bitcoins between exchanges) what offload traffic on main BTC chain which is ment to be used for much more serious stuff.