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The only problem is, how scalable is bitcoin blockchain itself. If it's only 7 transactions/second and less than 2MB data every 10 minutes, its usefulness will be limited
Correct. All people here in the forum repeat this mantra, and from a beginners perspective this is totally ok.
I have obeserved some behavioral patterns: with limited imagination and barriers in thinking one must come to the conclusion, that bitcoin is not what you need. It somehow doesn’t meet expectations (haha). There is this disappointment about crypto that people have, who hoped to use bitcoin system to get quickly rich, without any efforts supporting the infrastructure or development. There are These core developers who shall do this job for them... Negativity all around the corner. And in disillusion they compare current crypto technologies to banking systems, and get even angry, that the fees came down to all time low, missing the point, that these are the first signs of fruitful growth extensions. Anyhow, they then look at Ethereum for scaling, because there you should have increased throughput, just to find out, it’s only real usecase is crypto kitten (and maybe some ICOs). And bitcoin cash is not performing, because the masses don‘t accept it, hence no liquidity to do great things. Really, there’s nothing in these systems for them.
What a pity for these people!
On the other side there are those, who are inspired by the technologies. Who are enthusiastic and open minded. Who understand, that there is something happening, that is changing the world, possibly upside down. Who support the community (thankyou achow
). They take the challenge of understanding the limitation, breaking there head(s) on it. They start to develop solutions around it, and make the whole eco system a bit better. There are genius people thinking about increasing throughput (segwit), smart contracts (simplicity), zero knowledge proofs, decentralization and security in the system, 2nd layer applications (side chains), atomic swaps between them, and probably many, many more. Exciting time ahead!
So it is up to each individual, to stay within their limitation(s), filled with bitterness on their capacity, becoming resentful to all the exciting things happening in the crypto eco system, where they can‘t participate.
Or become part of a vibrant environment and be convinced, to make bitcoin and the world a bit better!
