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Bitcoin doesn't need to increase its throughput. This is what layer 2 (3,4,...,n) solutions are for. This is like saying "Well, the dollar is useless because
by djschnei 5y ago
Bitcoin doesn't need to increase its throughput. This is what layer 2 (3,4,...,n) solutions are for. This is like saying "Well, the dollar is useless because Fedwire TPS doesn't accommodate all transactions." If you compare apples to apples, Bitcoin is more than adequate to replace something like Fedwire with a zero trust decentralized system. Layer 2 solutions for Bitcoin can look something like The Lightning Network (trustless) or something like the Liquid side-chain (maybe for institution-to-institution settlement?).
- ketzo 5y agoIf you want people to actually be able to pay for things with Bitcoin (often a stated goal), then yes, it does.
- billytetrud 5y agoHe mentioned the Lightning Network - that is exactly what its for.
- lottin 5y agoSorry but bitcoin is peer-to-peer cash system. If it can't handle peer-to-peer transactions then it's an utter failure.
- dalmo3 5y ago99% of the content on news.ycombinator.com is not about startups. An utter failure!
- chris_wot 5y agoNice try, but that's not the point of news.ycombinator.com
- itsdsmurrell 5y agoCorrect, BTC is not peer to peer cash, try the real Bitcoin, Bitcoin Cash.
- billytetrud 5y agoIt can. The lightning network is part of bitcoin as peer to peer cash.