I am the veriest tyro in terms of crypto so I may be totally off base here but my understanding is that Bitcoin is maxed out at about 3 transactions/second. How do you get around that?
You are viewing a single comment's thread from:
I am the veriest tyro in terms of crypto so I may be totally off base here but my understanding is that Bitcoin is maxed out at about 3 transactions/second. How do you get around that?
That is a very good question... the technology is a dinosaur, but they have some very talented developers and a lot of money, we will see how they go about solving their transaction problems. There a number of altcoins with better technology, yet they languish behind, why is that?
Like you said, bitcoin is first mover advantage. BTC may now end up being "THE" crypto but it'll likely always be a player because of it. Ethereum seems to be is first early challenger for the crown, I'm sure there will be others.
Remember - Myspace originally dominated the social media space until facebook ate it's lunch with a better UI and experience, as a loose example.
Yep, and if Bitcoin doesn't adapt and improve it's technology, I imagine someone else will eat it's lunch too. Myspace to Facebook are perfect examples.
Couldn't agree more!
I think the other altcoins are simply suffering from a lack of exposure.
I read an article about bitcoin 3 years ago and continued to monitor prices but didn't do anything until purchasing a little bitcoin and ethereum 2 weeks ago.
Then again, it took me years before I trusted the credit card swiper at the gas pumps.
Haha you and me both!