Various thoughts on Bitcoin

[Anonymous No.56256561]

I want to address what may be the biggest critique of the bitcoin protocol and how it's possibility misunderstood.

We're often told that Bitcoin can't scale to the world's population and it got me thinking. There are roughly 8 billion people on the planet. It's foolish to believe that all 8 billion will transact on the Bitcoin network. Infants, children, old demented people living in care homes, etc. will have no use for BTC. This leaves us with roughly 5 billion potential users. This number can be divided into groups, you can think in terms of family or household where the issue of trust is mitigated by social norms (eg. mariage). These groups can run federated mints on top of the Lightning Network. If we agree that an average fedimint has 5 users, then Bitcoin need only scale to 1/8 of the world population.

My last thought is in regards with market capitalization. I don't think Bitcoin's market cap will increase much higher. It's almost as high as silver (in fact just below it) so it's hard for me to imagine Bitcoin dethroning a real world asset like silver that has been around since the dawn of society and which has use beyond its monetary power.

[Anonymous No.56256573]

Tl;dr - it may go up or down or remain the same for any period of time

[Anonymous No.56256660]

>>56256561
in the end, bitcoin is just a counter in a program. any value or meaning beyond this can change (and has changed). people already transact with bitcoin in a fast and scalable way - by wrapping it onto an EVM chain. could it surpass silver? just depends if people want it badly enough. it's dollar-denominated market cap will undoubtedly rise much higher than what is now, as will silver's