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RE: Is The New High Value of Bitcoin ($1000+) To Be Celebrated, Or Does It Highlight Its Shortcomings?
I think the transactions per second limit is often quoted but not as significant as made out.
Bitcoin has now such a large footprint that it's secure and fairly stable. That's the real story.
Innovators will find a way to make transactions happen when they are needed at scale such as the Bitcache solution which I give a some background to here https://steemit.com/beyondbitcoin/@eroche/megaupload-2-0-and-bitcache
I find a lot of posts here about people complaining how their transactions took upto a day to confirm, and I think as user adoption and transactions increase, we might hit a bottle-neck. The transactions per second may not be significant now, but it will be then!
I am not so sure that Bitcoin will be the solution as a payment method of choice.
When you talk about Visa and Matercard your talking about day to day spending.
It could be Monero or Dash or one of the other payment currencies that will be used for this space.
Bitcoin is not high frequency or high volume and may be more used as a store of value or bank account type currency. When you compare it to gold for example you cant make a lot of transactions per second with that but its still used as store of value. Its stable and safe.
Maybe bitcoins transactions will reduce over time but be used for more specific things such as interbank transactions and long term store of value?
That perspective is a welcome one! Thanks.