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I wouldn't say so. As the financial system is set up right now, Bitcoin has a lot of potential to reduce friction. For cross-country payments as well as for bu
by ArtTimeInvestor 2y ago
I wouldn't say so.
As the financial system is set up right now, Bitcoin has a lot of potential to reduce friction. For cross-country payments as well as for buying coffee:
Speed, fees, finality.
But the lightning network will have to mature first. We will see if the global financial system evolves faster than the Bitcoin ecosystem. I would expect Bitcoin's ecosystem to evolve faster.
- talldayo 2y agoThe fact that Bitcoin's blockchain is unusable without unofficial, unreliable and slow L2 chains is kinda evidence that it doesn't have much potential left. If you're a serious country considering using Bitcoin, why even use Lightning at all when you could use a fundamentally better-designed currency? Why invest in Bitcoin if it's already breaking?
- ArtTimeInvestor 2y agoIt is only unusable for small transfers. Considering it is at only 10% of the Gold market cap - which is even more unusable for small transfers - I think it would even have a lot of potential left without L2s. As for Lightning being unreliable and slow - I don't see a technical reason for it to stay this way. What do you consider a "better-designed currency"?