What will happen with Bitcoin if it never scales?

[bukikbarisan]

The value of Bitcoin is derived solely because it is registered and traded, bitcoin value is nothing without exchange
And the value of stock securities listed and traded in the exchange is based entirely on falsehood, where the value assigned to a particular security is made and unclear.

[1715315528]

1715315528

[1715315528]

1715315528

[1715315528]

1715315528

[1715315528]

1715315528

[maryhansenn]

It will become a powerful cryptocurrency and we will use it for every transaction if we want, small or big

[freshm4ker]

For me bitcoin as the face of digital currency. When you meet someone and you want to tell them about your digital currency you should first mention bitcoin. You can not mention all the coins, but at least its history will be traced to bitcoin. Even if it never scales it would be a great store value, people would buy it and exchange it with other cryptoes, especially ethereum or dasboard, because they want faster tractionactions.

[osasshem]

Fr me, if bitcoin does not scale up, then it will start facing some hard time with other altcoins, cause its fame will no more be there, and a coin might rise up to beat it down with the market cap. But if bitcoin should scale up again, then it will be a store of value and some other altcoins will be used for the daily trades.

[gantez]

If bitcoin doesn't scale up, I think the whole c
digital currency thing would die of. This is simply that bitcoin has proved to be a superhero coin giving life to others. To prove this is the glaring fact of the way the effect of bitcoin has affected every other coin, no one has been able to take the ride upwards yet. They are all waiting for the king.

[Abiky]

the biggest problem that is driving people away from bitcoin is  the transactions and fee, bitcoin has been for a long time the leader of the cryptocurrency and it will stay that way, but with these problems that it is facing today the alt coins are trying to catch up to it, although they are not as popular as bitcoin.

Completely agree with you, mate. High fees and slow speeds, is what will kill Bitcoin in the long term since it makes payments impractical. However, this may change soon as the Lightning Network becomes active within the Bitcoin network to reduce fees to a minimum and provide near-instant transactions. This might bring back people which used altcoins for lower costs and faster speeds. In effect, Bitcoin's market dominance would be greater as many altcoins would be rendered useless due to the Lightning Network's unrivaled speeds.

Those altcoins which implement the Lightning Network too (like Litecoin and Vertcoin), would see a major boost in scalability like Bitcoin. Therefore, it's safe to say that Bitcoin will eventually scale to a wider audience, promoting greater adoption in the mainstream world. Bitcoin will be cheap and fast like it did in its early days. Just my thoughts

[deisik]

the biggest problem that is driving people away from bitcoin is  the transactions and fee, bitcoin has been for a long time the leader of the cryptocurrency and it will stay that way, but with these problems that it is facing today the alt coins are trying to catch up to it, although they are not as popular as bitcoin.

Completely agree with you, mate. High fees and slow speeds, is what will kill Bitcoin in the long term since it makes payments impractical. However, this may change soon as the Lightning Network becomes active within the Bitcoin network to reduce fees to a minimum and provide near-instant transactions. This might bring back people which used altcoins for lower costs and faster speeds. In effect, Bitcoin's market dominance would be greater as many altcoins would be rendered useless due to the Lightning Network's unrivaled speeds

It looks very much like the same good old cart-before-the-horse view

Litecoin has Lightning Network implemented for over a year now and how much did that promote "greater adoption in the mainstream world"? I guess the result attained equals next to nothing. The news about LN being activated in Litecoin definitely helped boost its price (I'd been there and seen that with my own eyes if anything), and it is likely through Litecoin's higher price that it got more "adoption" among trading folks. That's all. It didn't help expand its use and application in the real world in any significant degree. In fact, LN is not even used in this coin at all. So what makes you think that Bitcoin will be much different in this department? LN may make Bitcoin more usable overall (though even this is disputable), but it won't magically make it used more as a means of payment, sorry. People won't pay with gold for common things, no matter how easy and fast such payments can be made in practice. The same applies to Bitcoin as well

[david tex]

And what awaits then the mass owner of Bitcoin coins, if they all expect a Rainbow future for their capital. This does not affect the price of Bitcoin in the coming years?

[pekavcilar01]

It's hard to predict how the market will move. A balanced increase is no longer happening. There was a steady decline. Lower coins are on the rise in the last few weeks. You can make your investments according to him.
Bitcoin's price is not as high as the old one. He suffered great depreciation. Everyone expects to return to his old power again.

[ranman09]

For me, if scalability is not resolved it will lead to bitcoin being a digital asset that gets its value based on rarity (at first). And as mining becomes hard, the miners will diminish and will cause a slow transaction which will lead to little to no adoption.

In short I think, bitcoin will be obsolete or die. Other currencies who can survive scalability problem will emerge.

In accordance to this, is there any thread in this forum geniuses are talking about on solutions about scalability?

[aray80]

I think what will happen is Bitcoin will continue to run and boost its buying price so that In a short time, bitcoin becomes out of reach and it will be much less profitable for most miners ...

[maydna]

I think bitcoin will never accept if not scalable because the government will think that bitcoin price can be manipulated by the big whales and they will easily to make the prices up and down.

I agree with what you're saying that the bitcoin community will come up to finding a new solution to end this issue but this will need more support from bitcoin user itself. and if we can unite, together we can make cryptocurrency greater again.

[reality18]

Scalability is essential for every cryptocurrency in order to increase its mainstream adoption, thus, the demand. Once the demand increase, the cryptocurrency is prone to succeed and rise to good heights on the coin market.
The more reason for most people engaged with Bitcoin is that it is seen as a long term valuable asset rather than being used for daily transactions. With this, the scalability does not hold much percentage to bring the down fall of Bitcoin.

[Josiah Dave Leonor]

If scaling bitcoin is not carried out, it will mean that it will not provide everyone in transactions and transactions will hang and Ever since btc rose in popularity, many governments seem to be a bit hostile towards it.But I don't think it is going to change anything with respect to price volatility, at least not directly and Bitcoin's market dominance would be greater as many altcoins.

[AquaVitae]

Without scaling Bitcoin is facing slow death against cryptos, which are able to scale. If Ethereum manages to scale before Bitcoin, then it will become the biggest crypto.

[Abiky]

It looks very much like the same good old cart-before-the-horse view

Litecoin has Lightning Network implemented for over a year now and how much did that promote "greater adoption in the mainstream world"? I guess the result attained equals next to nothing. The news about LN being activated in Litecoin definitely helped boost its price (I'd been there and seen that with my own eyes if anything), and it is likely through Litecoin's higher price that it got more "adoption" among trading folks. That's all. It didn't help expand its use and application in the real world in any significant degree. In fact, LN is not even used in this coin at all. So what makes you think that Bitcoin will be much different in this department? LN may make Bitcoin more usable overall (though even this is disputable), but it won't magically make it used more as a means of payment, sorry. People won't pay with gold for common things, no matter how easy and fast such payments can be made in practice. The same applies to Bitcoin as well

You do have a point there, mate. Even with LN in Litecoin, people aren't using it that much when compared to Bitcoin itself. And once Bitcoin improves with the Lightning Network, it could happen the same thing. Such things will allow Bitcoin to continue be used as "Gold", while other cryptocurrencies or fiat will be used as "cash".

No matter if Bitcoin scales or not in the future, it has managed to change the economy in ways we've never thought possible before. The blockchain technology is a pure genius and can bring many benefits to our society. In the end, what really matters is the technology itself and not the underlying cryptocurrency. Any cryptocurrency uses the blockchain nowadays, so I guess that the technology itself is of greater importance than any kind of asset/token you could imagine. Just my opinion

[deisik]

It looks very much like the same good old cart-before-the-horse view

Litecoin has Lightning Network implemented for over a year now and how much did that promote "greater adoption in the mainstream world"? I guess the result attained equals next to nothing. The news about LN being activated in Litecoin definitely helped boost its price (I'd been there and seen that with my own eyes if anything), and it is likely through Litecoin's higher price that it got more "adoption" among trading folks. That's all. It didn't help expand its use and application in the real world in any significant degree. In fact, LN is not even used in this coin at all. So what makes you think that Bitcoin will be much different in this department? LN may make Bitcoin more usable overall (though even this is disputable), but it won't magically make it used more as a means of payment, sorry. People won't pay with gold for common things, no matter how easy and fast such payments can be made in practice. The same applies to Bitcoin as well

You do have a point there, mate. Even with LN in Litecoin, people aren't using it that much when compared to Bitcoin itself. And once Bitcoin improves with the Lightning Network, it could happen the same thing. Such things will allow Bitcoin to continue be used as "Gold", while other cryptocurrencies or fiat will be used as "cash".

No matter if Bitcoin scales or not in the future, it has managed to change the economy in ways we've never thought possible before. The blockchain technology is a pure genius and can bring many benefits to our society. In the end, what really matters is the technology itself and not the underlying cryptocurrency. Any cryptocurrency uses the blockchain nowadays, so I guess that the technology itself is of greater importance than any kind of asset/token you could imagine. Just my opinion

I have a lot of points, bro

That said, I eagerly agree that Bitcoin and blockchain in general is a breakthrough technology in its own right, though I can't say that it has changed the economy much, not as yet. It can be said that it has built its own economy but it is still small and vulnerable, and it doesn't affect the real economy in any appreciable degree so far (whether it will remains to be seen). And let's not forget there are cryptocurrencies which are not based on the blockchain at all, so it is definitely not just about either Bitcoin or blockchain, or both. I'd rather say that it is applied cryptography and the Internet itself that are the major breakthroughs behind crypto as a whole

[glongsword]

I think that sooner or later everything disappears, and bitcoin is no exception! But I am sure that in the coming years the crypto currency will become popular and will be used for its intended purpose!

[Dudeperfect]

It would be one of the best possible scenarios for Bitcoin if it never scales on the market wall. There are the people who are using it as a payment system and they will continue using it irrespective of the scalability point of view. The price would remain somewhat stable if speculators are not active in trading Bitcoin. However, things will remain same for the users (not the investors) and I don't see any possible harm in such case.

[freshm4ker]

Currently bitcoin is no longer an option to make micro payments because of its high transaction costs. Imagine if I want to send money back home as a remittance and I prefer to use other payment methods instead of using bitcoin because of the high cost.