What do you think that might happen with Bitcoin if no scalable solution becomes accepted?
Will it remain as a store of value, while other altcoins take the lead for everyday transactions? Or will another cryptocurrency take its place as the top in marketcap?
I would like to know your thoughts about this, as the ongoing scaling debate will further limit Bitcoin from reaching new heights. As for me, I believe that the Bitcoin community would come up at a resolution somehow to put an end to this issue, and make the pioneer cryptocurrency great again. What do you think?
All coins can scale to visa levels merely by using exchanges or other 3rd party processors to process offchain transactions.
Those offchain methods work right now without the complexities or limitations of lightning network.
The fallacy that was thrust upon your mindset , was that Segwit/LN was the only offchain solution, well it is not , and it won't even be the best.
Store of value is a sticky subject, because in my mind for it to be a store of value it needs a utility, ie: payment system or some other function.
True stores of value such as gold, when their price drops , the utility usage buys more ,
ie: Gold price drops, and more gold gets used in electronics or in dental filling or jewelry as it become cheaper for a utility usage.
It can only be considered a store of value if it keeps going up in price or maintains it's price.
Bitcoin no longer has a good utility usage as it is cheaper and faster to send other coins.
Plus it production cost per coin is now on average ~$3000 to $7000 per bitcoin depending on what country the asics are in.
During the past few months , it has not been an appreciating asset but a depreciating asset, so that destroys it as a store of value.
You can say the Bankers are manipulating the prices lower by restricting who can buy bitcoins,
and that wall street type are creating a mindset decreasing the perceived value per bitcoin by manipulating the futures markets, and you be right.
But you also have the tether scam where they are artificially inflating the price of bitcoin using a fraudulent fraction reserve system called tether without 3rd party verification they own any real US dollars.
So you have shenanigans deflating and inflating the price of bitcoin simultaneously, and at this junction of time, the deflating side is winning.
But offchain scaling is the only thing that is not a real problem whether they ever get LN working or not, as some exchanges already provide it as a service.
You will come to find in the next year or two that Onchain Scaling was always more important , as transactions can only be deferred for so long offchain,
and without adequate onchain capacity , onchain fees become unmanageable for the majority.
