/biz/ - Business & Finance

BTC is pursuing a different scaling plan, that keeps it limited to 300,000 on-chain transactions a day, and a ridiculous second layer solution called Lightning Network, that has numerous fundamental problems that make it a niche product with limited uses.

So with an inability to grow its daily transaction rate above 300,000 a day, and attract more merchants and retail usage, BTC is now a get-rich memecoin, that depends on advocates continually pumping its ability to make people who hold it rich.

It has no utility beyond transferring wealth from later investors to earlier investors, aka a ponzi scheme. It has insignificant utility in actual peer-to-peer commence, because it's limited to 300,000 transactions per day. Every other transaction will have to be done on centralized servers, like exchanges. 99.9% of people will never be able to touch BTC.

>>15258591
Your right, that's why we have RSR.

>>15258607
Well if crypto stands any hope, it needs a complete reset to wash the bad taste out of the worlds mouth.Only solution is for everything to crash to near zero and something to learn from it and rise from the ashes.

>>15258591
It wouldnt be used as a medium of exchange for commerce by the masses. It will be used as a store of value hedge against the market like gold. This can only happen if bitcoin proves its a good hedge in the coming recession and it is publicly endorsed by mainstream people. If huge investors start pouring huge sums of money into btc, we're going to see this shit all over the news

>>15258591
Thanks ranjeesh for this informative copy-paste of years-old narratives, I'm going all in BCH now. This narrative didn't help BCH in the past but I'm confident it will any day now and our social attack on BTC will finally start to gain traction. The important thing is enabling our fellow indians back home to be able to buy everyday goods in decentralized fashion!

>>15258723
Think about why it didnt help BCH?BCH was a better coin, but BTC is the bIgger NAME, more HYPE.Unfortunatly, name and hype with nothing else 99% of the time comes crashing down to zero.

>>15258591
>Bitcoin's original plan was to become a peer-to-peer electronic cash used by the whole world, with large blocks that could allow anyone to write on-chain,
>>15258594
>BTC is pursuing a different scaling plan, that keeps it limited to 300,000 on-chain transactions a day, and a ridiculous second layer solution called Lightning Network, that has numerous fundamental problems that make it a niche product with limited uses.
>So with an inability to grow its daily transaction rate above 300,000 a day, and attract more merchants and retail usage, BTC is now a get-rich memecoin, that depends on advocates continually pumping its ability to make people who hold it rich.
>It has no utility beyond transferring wealth from later investors to earlier investors, aka a ponzi scheme. It has insignificant utility in actual peer-to-peer commence, because it's limited to 300,000 transactions per day. Every other transaction will have to be done on centralized servers, like exchanges. 99.9% of people will never be able to touch BTC.
this. i've understood this for a few years now. everything will crash to near 0 (with the exception of Resewrve Rights (RSR). they don't scale. it might not be possible to scale a blockchain.

you might wanna add that satoshi wanted everyone to be able to mine btc on their computer.. she didnt account for pools

>-20%
>Bitcoin is dead

yes we know that song

i'm only holding reserve rights (rsr).. but i'm keeping any eye out for blockchains/nonblockchains that can scale.. maybe spacemesh, radix, coda, unit-e, etc.. i have doubts any of them can...

Oh look another OP who opened a 100x leveraged short. These threads always come out when btc drops and if you can’t see that they’re desperately fudding to avoid liquidation you are retarded. Same shit was said when btc was $500

>>15259022
it's true what op said though

>>15259022
Care to address any of the facts presented?

>>15259028
Have sex

>>15258961
>she

>>15258651
2017 already happened anon

>>15259582
This.

>>15259004
you hold a crypto with billions in circulation and a max supply of a 100 billion, dipshit. Don't compare to BTC ever.
>>15258591
This might be 100% spot on but still be bad for BTC price. Being used as money and changing hands fast in high volumes means price is stable.

https://www.coindesk.com/blockchain-token-velocity-problem

Good currencies are horrible stores of values and right now we buy BTC for future value and our own greed. Sorry to burts your p2p cash bubble but heres something that satoshi wrote that will help explain money's history
https://nakamotoinstitute.org/shelling-out/

this will help you make gains outside of BTC if you must
https://ddex.io/trade/SHOCK-WETH

>>15259684
pajeet detected

>>15258594
>keeps it limited to 300,000 on-chain transactions a day
for now nigga be patient btc will increase block size when needed so far it works much better than i anticipated in 2017

>>15258961
>inb4 satoshi was a black transwoman

>>15259728
>>inb4 satoshi was a black transwoman

lmao was just fucking with you all. this guy was satoshi. i mined back in 2011.. bitcointalk.org was so different back then. small community of 130+ people. now it is full of pajeets.

bitcoins other problem is very few people own most of the supply.. so it makes the rich richer

why does stupid fucking coinbase say i dont have suffient funds in my bank account when i literally have 15-20% over what im trying to put on the exchange?

130+ iq people*

we all made a pact to accumulate 10,000 btc and never sell

we knew it would get to $100,000. i sold in 2017. not buying back because i have same concerns as op..