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I don't know who is down voting you.. But you are right. That temporary limit has been abused by a faction of people (funded by banks) trying to control Bitcoin
by zapdrive 5y ago
I don't know who is down voting you.. But you are right. That temporary limit has been abused by a faction of people (funded by banks) trying to control Bitcoin. That's why there's a surge of other coins that have removed the limitation. And one of the reasons why Bitcoin's dominance stands below 54% today.
- fidelramos 5y agoThere are a lot of BTC maximalists that see any alternative cryptocurrency as a scam, something which is definitely not true for many of them that have thousands of daily active users. I also feel that many BTC maximalists don't appreciate how Bitcoin Cash makes apparent the limitations of BTC, as it processes more transactions than BTC while keeping fees under 1 cent. txstreet [0] makes for a great visualization, check the statistics at the bottom. Personally I wish Bitcoin Cash didn't even need to exist, if BTC had scaled as it was originally planned by Satoshi Nakamoto (increasing the maximum block size before it got full). It was sad watching the adoption rate halt and then regress. Remember when BTC was becoming accepted by Steam, Microsoft, Dell, NewEgg and others back in 2015-2016? There is no doubt in my mind that if BTC had scaled properly almost every online shop and a lot of real-world shops would be accepting BTC by now (and incidentally BTC price would be even higher than it is today). [0] https://txstreet.com/v/bch-btc https://txstreet.com/v/bch-btc