3 ms·
> A cutoff from SWIFT may also have longer-term second-order effects on Bitcoin and non-fiat currencies. And remember that Bitcoin has a fascinating property h
by jancsika 5y ago
> A cutoff from SWIFT may also have longer-term second-order effects on Bitcoin and non-fiat currencies.
And remember that Bitcoin has a fascinating property here-- the more demand there is for transactions on it, the better it gets at scaling for something approaching SWIFT level of transactions.
Oh wait I'm thinking of Bittorrent's scaling wrt popular torrents. Yeah, Bitcoin's ability to scale is complete shit.
- asasidh 5y ago
- errantmind 5y agoBitcoin's Lightning Network scales just fine, but based on your comment it doesn't look like you are interested in how Bitcoin works, instead wanting to jump on a bandwagon.
- dskloet 5y agoLighting doesn't work for large transactions, and isn't trustless for very small transactions. And lightning relies and being able to close channels so lighting security breaks when Bitcoin is congested.
- errantmind 5y agoYou have pointed out a few caveats, but LN works well for the vast majority of transactions. What point are you trying to make?
- pavlov 5y agoAlso, if global Bitcoin demand increases because it’s used to circumvent Russian sanctions, the more likely it becomes that Western governments will simply shut down exchanges within their reach. And that would certainly have a chilling effect on Bitcoin price.
- deleted 5y ago[deleted]