RE: Bitcoin Scaling Debate
Wrong: Fiat: an official order given by someone who has power to do so (Merriam-Webster Dictionary) i.e. fiat currency means a currency that is forced into circulation by a government.
Bitcoin: The technology is known as the blockchain. The "data" transferred is know as bitcoins. Notice I emphasized data because bitcoin is data, with a financial incentive attached to it. Not forced into power, its accepted by the free thinkers, like you and I.
It doesnt matter if the market cap exceed bitcoin, if bitcoin is a store of value as its tech. Your mis appropriating my words. I am for the freedom of everyone. The small guy,himself, must realize he is big. That is life.
Now, as far as your scenario goes, I just dont see it.
My portfolio of land water food family friends has been doing great.
Everything else I add to it is more and more externalized. Start within.
Grow and invest from that center.
This isnt about average people. Its about people who are willing to confront the changes and conflicts. So.... It wont matter if it gets more expensive, we will all adapt.
Grow a business, invest in your community and friends. These are the internal profits we all seek.
WE can agree to disagree, but if you are so convited that you think you right! I would bet against that. Always down for a friendly wager, hahah no wheres the blockchain for personal steem bets?! based of what happens in the future lol each pay into a lil escrow, haha.. anyways best of luck. Nice article. But I disagree on the idea that it needs to become this instant cheap transaction concept.
No I was talking about the technical effects of it. Having people forced to use a currency which has no intrinsic value is the same as people voluntarily using it if it has no value.
The difference is that Bitcoin has value as long as it has certain advantages over the legacy systems (no entry cost, no regulation, low fees, and no transaction prohibition)
If those advantages were to go away (which they slowly do, governments are already regulating it, and the fees are going up)
Then certainly, if we are not forced to use it, we wont. So altcoins will fill this demand then.
We don't need to bet, you will just see for yourself what will happen to your money if the TX fees go absurdly high. Good luck with that.