Could BTC ever become fast enough to function as a single world currency?

[PovertyByte]

There is a thought I've had. If BTC were to go past the moon and crush all fiat currency it would undergo far more transactions than it does now, more than SegWit could account for. Is there any way that BTC could become fast enough to function as a single or primary international currency through further updates yet to be determined without upping the block size to 1 TB per block someday?

[kiklo]

There is a thought I've had. If BTC were to go past the moon and crush all fiat currency it would undergo far more transactions than it does now, more than SegWit could account for. Is there any way that BTC could become fast enough to function as a single or primary international currency through further updates yet to be determined without upping the block size to 1 TB per block someday?

Nope,

It's ONCHAIN transactions can not handle that demand,
plus as it's price rises so does it transaction fees, only the rich will be able to afford adding a transaction per block.
Mass adoption will fail and the rich will dump BTC in favor of other crypto that the masses can use.
BTC just does not have enough coins for worldwide adoption.

 

[davis196]

There is a thought I've had. If BTC were to go past the moon and crush all fiat currency it would undergo far more transactions than it does now, more than SegWit could account for. Is there any way that BTC could become fast enough to function as a single or primary international currency through further updates yet to be determined without upping the block size to 1 TB per block someday?

Nope,

It's ONCHAIN transactions can not handle that demand,
plus as it's price rises so does it transaction fees, only the rich will be able to afford adding a transaction per block.
Mass adoption will fail and the rich will dump BTC in favor of other crypto that the masses can use.
BTC just does not have enough coins for worldwide adoption.

 

Enough coins?It`s not about the number or coins.It`s about the blockchain and how it works.
Maybe Satoshi Nakamoto created bitcoin with this in mind.
Btc should never become worldwide currency because ,one way or another,it will become more centralized and the fundamental concept of bitcoin will be destroyed.

[Viscount]

There is a thought I've had. If BTC were to go past the moon and crush all fiat currency it would undergo far more transactions than it does now, more than SegWit could account for.

SegWit IS NOT the only improvement, LN and Sidechains (after segwit) give fiat and alts no chance

[Viscount]

Btc should never become worldwide currency because ,one way or another,it will become more centralized

more cetralized than what? fiat or alts?

[Genesis1337]

There is a thought I've had. If BTC were to go past the moon and crush all fiat currency it would undergo far more transactions than it does now, more than SegWit could account for.

SegWit IS NOT the only improvement, LN and Sidechains (after segwit) give fiat and alts no chance

aren't LN and sidechains 3rd party though? and has their technology been tested?

[Viscount]

BTC just does not have enough coins for worldwide adoption.

 

[Viscount]

aren't LN and sidechains 3rd party though? and has their technology been tested?

No, Bitcoin is an open source technology there's no 3rd party. Yes, before implementantion all upgrades is and will be completely and comprehensively tested, it's not layman's Unlimited fudged cookery

[MadGamer]

Why not ? Lightning network is always there whether SegWit gets implemented or not. LN should enable instant off-chain transfer of the ownership of bitcoin without the need of any third party , of course there should be enough LN nodes out there. I really doubt that bitcoin could become the primary international currency , not because It can't handle it but more because the banking system and governments won't allow that to happen.

[kiklo]

There is a thought I've had. If BTC were to go past the moon and crush all fiat currency it would undergo far more transactions than it does now, more than SegWit could account for.

SegWit IS NOT the only improvement, LN and Sidechains (after segwit) give fiat and alts no chance

An Alt will take BTC place as top coin within 4 years.  
I told you just to upset you.


 

FYI:
LN is offchain, you might as well just trust a bank.

[Viscount]

Why not ? Lightning network is always there whether SegWit gets implemented or not. LN should enable instant off-chain transfer of the ownership of bitcoin without the need of any third party , of course there should be enough LN nodes out there. I really doubt that bitcoin could become the primary international currency , not because It can't handle it but more because the banking system and governments won't allow that to happen.

I doubt they could possibly do something with it  

[kiklo]

Why not ? Lightning network is always there whether SegWit gets implemented or not. LN should enable instant off-chain transfer of the ownership of bitcoin without the need of any third party , of course there should be enough LN nodes out there. I really doubt that bitcoin could become the primary international currency , not because It can't handle it but more because the banking system and governments won't allow that to happen.

I doubt they could possibly do something with it  

Outlawing it in their country would stop BTC cold.
Very few would go to jail over it.

 

[Viscount]

An Alt will take BTC place as top coin within 4 years.  
I told you just to upset you.

You can't upset anyone with lie  . You think I didn't hear that? Do you know how many alt were there already? and where are they now?

[Genesis1337]

aren't LN and sidechains 3rd party though? and has their technology been tested?

No, Bitcoin is an open source technology there's no 3rd party. Yes, before implementantion all upgrades is and will be completely and comprehensively tested, it's not layman's Unlimited fudged cookery

yea, i just dont know how lightning network and all of that stuff works. i will have to look into it more

[kiklo]

An Alt will take BTC place as top coin within 4 years.  
I told you just to upset you.

You can't upset anyone with lie  . You think I didn't hear that? Do you know how many alt were there already? and where are they now?

I don't lie, that is your strategy not mine.  
Within 4 years. 

 

[Viscount]

Outlawing it in their country would stop BTC cold.
Very few would go to jail over it.

 

I don't think it's possible to track everyone or we've already got rid of drugs and child porn and so on

[Viscount]

I don't lie,

you do

[kiklo]

I don't lie,

you do

LOL, you can tell what is truth , you're too much of a BTC Shrill. 


 

[kiklo]

Outlawing it in their country would stop BTC cold.
Very few would go to jail over it.

 

I don't think it's possible to track everyone or we've already got rid of drugs and child porn and so on

All they have to do is Block companies from taking BTC and block banks from letting people exchange it for fiat.


 

[Viscount]

LOL, you can tell what is truth , you're too much of a BTC Shrill. 


 

Read again your upper post that Bitcoin has not enough coins. Only a liar would write such stupid nonsence