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Author Topic: What will happen with Bitcoin if it never scales?  (Read 11388 times)
Blackwhite69
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October 10, 2018, 04:23:22 AM
 #361

perhaps it does not need scalability, because it is only needed for long-term storage within the cryptocurrency


It will not be available by everyone who will use it but the right thing will be used for a long time. New things can happen next year with what will happen.
Rustamm
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October 10, 2018, 04:55:12 AM
 #362

If Bitcoin does not scale and it will have its current throughput of seven transactions per second, then it will gradually lose its popularity and at the same time its price. It will also decrease its level of capitalization and when other coins bypass it in terms of capitalization, it will lose price dominance over other types of cryptocurrency and at the same time lose its place as the leader of cryptocurrency. Most likely, Bitcoin will continue to exist, but its price will not be very high and it will be used for large transaction costs.
skish85
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October 10, 2018, 01:12:41 PM
 #363

I think it will be used to preserve and increase finances, only as a good asset. It is possible that it will no longer be used as a medium of exchange.
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October 10, 2018, 11:49:11 PM
 #364

If the scaling problem doesn't get solved in a few years bitcoin's future could have serious problems because there is a high possibility that it could be replaced by some other coin that doesn't have this problem. We still have time, but it must be solved asap.

That's right! Because if Bitcoin doesn't address its scalability issues quickly, then other alternative cryptocurrencies might take the lead unfortunately. But, given that Bitcoin's Lightning Network is carefully being developed to reach mainstream adoption, it's unlikely that the original cryptocurrency will stay behind other cryptocurrencies on the market. As you said, we still have time, but once people get back into cryptocurrencies, then it'll be game over for Bitcoin if it remains this way.

High fees and slow transaction speeds are annoying, while other altcoins with a DAG architecture have already solved this problem. If Bitcoin wouldn't have had first mover advantage within the crypto market, then I'm sure that another cryptocurrency would've replaced it by now. But, time will tell us, whenever the Lightning Network or another scalability solution would succeed to make Bitcoin largely adopted by people around the world. It should be in the most decentralized way possible of course, because if it reduces centralization, then why would anyone want to keep using Bitcoin?

All in all, I'm confident that Bitcoin will scale in the future, but we would need to be patient if we want to see good growth in this cryptocurrency. Cheesy

thenameisjay
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October 11, 2018, 04:23:12 AM
 #365

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?  Smiley

I think the storage of value for bitcoins would decrease since bitcoins will become obsolete due to the fact that it never go past beyond its capability. I think time will come that bitcoins will be left behind against alt coins being released today that are way better than bitcoins in terms of features.

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October 11, 2018, 04:36:25 AM
 #366

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?  Smiley


Absolutely correct. Although the price of bitcoins is testing the patience of its users, I really want to say the people to wait. As you said, 'Bitcoin community would come up at a resolution somehow to put an end to this issue, and make the pioneer cryptocurrency great again' I believe it too and not long ago, we have received something beyond our expectation.






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mmo4me.2016
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October 11, 2018, 05:16:46 AM
 #367

Bitcoin is attractive at the moment, wanting to become a daily payment instrument, transaction fee and transaction time is the core.
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October 11, 2018, 05:37:12 AM
 #368

The problem is, the current landscape of the Bitcoin ecosystem is very different from what it used to be back at the inception of the cryptocurrency. The number of people involved has grown from a few dozens of passionate enthusiasts to over 10 mln of everyday users.
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October 11, 2018, 05:43:41 AM
 #369

This will be an extreme issue in case it never does scale as I would commend that another cash would take the storms, potentially ETH? You never truly ken on something like this, yet the one thing that I do ken is that people on the BTC organize are worn out and tired of paying such high costs and are probably proximate to simply get the cash for out and just utilizing another system for portion all the time as opposed to keeping their bitcoin as they're doing now and paying like $1.30 for one trade.

I do confide in its scales, in any case, as I optically perceive that as the fundamental probability for Bitcoin to have the ability to be ostensibly observed as a money that will be prepared to hold some uncommon strong balance with respect to the dominant part enduring and utilizing it exhaustively. If it doesn't people are basically going to find something that will suit they're required, for example, whatever else on the planet this is the methods by which it works.
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October 11, 2018, 09:41:54 AM
 #370

If bitcoin never scales this current bearish situation, i trust that other coins will rise up and become the future bitcoin. They will become the most talked about and most used for cross crypto transactions.
Bitcoin will now become the alternative.
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October 18, 2018, 04:51:37 PM
 #371

Bitcoin is still the leading currency of the world, it is really amazing how people have ventured into this ecosystem of cryptocurrency. I don't think any other digital currency or altcoin can topple bitcoin anytime soon.

Me neither. No other altcoin could match Bitcoin in terms of security, and reliability. Sure, the original cryptocurrency could be facing a lot of issues which are disappointing such as high fees, and slow speeds, but it's still the leader of the whole cryptocurrency ecosystem. The technology is there already for Bitcoin to scale, but it may need some time before solutions are tested to prevent the breakdown of the whole blockchain. Slowly but surely, Bitcoin is advancing with its Lightning Network to become a global cryptocurrency for the masses.

But, even if it's not successful in this regard, Bitcoin will always remain as "Digital Gold" due to its scarcity, unmatched security, and immutability. I hope that developers and the community would choose what's best for Bitcoin to help preserve its key aspects which are the ones mentioned earlier. Smiley

alex_gr_cc
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October 18, 2018, 07:29:09 PM
 #372

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?  Smiley

I think that even if scaling is not achieved, bitcoin will not lose its popularity among investors. Bitcoin will not be used for payments, but will play the role of an analog of gold for investors. But I still hope that bitcoin will be scalable.

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tikaka
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October 18, 2018, 07:43:20 PM
 #373

If it is not expanded and the market is limited I think bitcoin will not be able to go further in the future. bitcoin will not grow, it is limited and gradually it becomes neglected and lost attention. Bitcoin needs to expand the market and attract the attention of more investors to grow and create future price fluctuations.

MarkCook777
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October 18, 2018, 08:51:17 PM
 #374

People see a cryptocurrency bubble. In the sense that most cryptoactives are overpriced - this is true. One day, most of them will disappear. But this is not the end, this is the beginning. Crypto-companies, crypto-positive people are now in euphoria: it seems that the handy, decentralized future is at hand.

But something so complex does not work that simple. 90% of tokens will fail. But when the bubble bursts, there will be really working ideas. This is exactly what the Internet experienced in the 90s. Most of the tokens in listings on the stock exchange will disappear in 20.10.5 years, because some were originally created for speculation, while others would collapse under the weight of their utopianism.

However, for Bitcoin, the only way out is to become a world currency, which is hardly possible. And yet, if this does not happen, you get what I described above.
Abiky (OP)
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October 24, 2018, 11:02:30 PM
 #375

If it is not expanded and the market is limited I think bitcoin will not be able to go further in the future. bitcoin will not grow, it is limited and gradually it becomes neglected and lost attention. Bitcoin needs to expand the market and attract the attention of more investors to grow and create future price fluctuations.

Yes. If Bitcoin doesn't scale, then it would simply become ignored by people as they look for other alternatives which are faster and cheaper than Bitcoin. By then, Bitcoin would retain its properties as "Digital Gold" but it would lack the capability of being used as "Digital Cash". However, if Bitcoin successfully scales with the Lightning Network, then things would change for the better as Bitcoin becomes both "Digital Gold" and "Digital Cash" for the masses.

The pioneer cryptocurrency would then become useful for micropayments, smart contracts, and nearly every other thing we know and love from altcoins. When sidechains, and the Lightning Network is combined, you'd get an "All-in-One" blockchain ecosystem that's secure, resilient, and useful for the mainstream world. However, it will depend whenever people would adopt Bitcoin's new scaling technologies for the cryptocurrency to advance as a worldwide payment system.

Nevertheless, scaling Bitcoin or not, wouldn't matter since it's still functional as a blockchain system free from middleman. Bitcoin could still process transactions without scaling, but with the drawback of higher costs and slower speeds. Scaling would only make Bitcoin cheaper and faster for the world to enjoy, which is something optional for Bitcoin to achieve mainstream usage and adoption. Just my thoughts Grin

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October 25, 2018, 02:59:30 AM
 #376

If it is happened that bitcoin will never scales, I think it will not die or disappeared but it will remain in the heart of some investors with a lot of positive mind about it. Because bitcoin ecosystem was already created a history of profitable investment and it was involved a large scale of money when manipulated effectively and with bullish market trend condition timely taking over.
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October 31, 2018, 05:03:39 PM
 #377

In my opinion, in any situation even if Bitcoin is not expanded, it is very difficult to attract everyone involved in the deal. But its worth thinking. It will be huge because the more scarce it will be.

There's no doubt that Bitcoin will increase in value due to its finite or limited supply. However, if Bitcoin doesn't manage to scale, then other cryptocurrencies will take the lead in fast and cheap micropayments around the world. Even if other altcoins manage to gain traction in terms of usage and popularity, Bitcoin will always be the most secure blockchain in existence. Scalability is not much of an issue if Bitcoin could remain secure and decentralized as possible.

As such, whenever people want to store their money securely for the long term, they'll use Bitcoin as it's a store of value. On the other hand, most altcoins on the market will become "Digital Cash" serving as true alternatives against traditional Fiat currencies such as the US Dollar and the Euro. Therefore, Bitcoin will do just fine even if it doesn't scale. If it scales with the Lightning Network, then it will have a huge advantage over most altcoins we know and love today. Just my opinion Smiley

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Sam San
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October 31, 2018, 09:08:34 PM
 #378

If it is not expanded and the market is limited I think bitcoin will not be able to go further in the future. bitcoin will not grow, it is limited and gradually it becomes neglected and lost attention. Bitcoin needs to expand the market and attract the attention of more investors to grow and create future price fluctuations.
bitcoin is still developing strongly, there are many new solutions to speed up payments for small transactions and other innovations in bitcoin.

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November 01, 2018, 04:29:44 AM
 #379

If it happens. there are two possibilities that can occur in crypto currencies. all altcoins will experience price declines when bitcoin isn't scaled. because bitcoin greatly affects all altcoins and crypto currencies will be scaled. another possibility, altcoin will take over as the main crypto currency substitute for bitcoin and altcoin will become the parent of crypto currency for new coin to be released.
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November 01, 2018, 12:48:03 PM
 #380

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?  Smiley

Yes, other cryptocurrency will take the lead. ETH is moving up. So if bitcoin cannot follow ETH,  then kt will definitely fall from the list. However, bing static on the price may have cons and pros as we. But it the main problem is, do still investors invest on BTC if that is the case?
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