Saturday, 5 October 2019

Bitcoin is being unfairly compared to fiat and other assets and why this has to be addressed because scalability isn't a bitcoin problem.

Many people assume Bitcoin because has no use because it isn't scalable to the world's population. However, this is being compared to fiat and other assets which are also unscalable on their own hence it's very misleading.

Gold and fiat are more unscalable than Bitcoin but they use third parties to help make them scalable like Visa, Mastercard, Paypal, banks..etc Bitcoin can be scalable this way as well through third party services (even cheaper and faster).

But bitcoiners want to transact in a decentralized way ultimately creating a new problem that doesn't apply to the majority of the current human population. Most people right now transact in a very centralized way and they are ok with using credit cards, their bank accounts, paypal..etc.

So scalability isn't bitcoin's problem; it's scalability without having to trust a third party. If the world wants to use Bitcoin in a centralized way (like every other assets), it's already possible.

submitted by /u/ProfOranMcClure
[link] [comments]

No comments:

Post a Comment