One of the first comments Satoshi Nakamoto got when publishing his Bitcoin whitepaper was that ‘it does not seem to scale to the required size’. Years later, it has shown that it scales and fulfills its purpose as a store of value. It just hasn’t scaled in the area of a medium of exchange, if you compare it to fiat. The transaction fees are quite high and take a minimum of 10 minutes to settle. Terrible if you’d want to buy a coffee with your bitcoins.
An intro to Bitcoin layer 2
An intro to Bitcoin layer 2
An intro to Bitcoin layer 2
One of the first comments Satoshi Nakamoto got when publishing his Bitcoin whitepaper was that ‘it does not seem to scale to the required size’. Years later, it has shown that it scales and fulfills its purpose as a store of value. It just hasn’t scaled in the area of a medium of exchange, if you compare it to fiat. The transaction fees are quite high and take a minimum of 10 minutes to settle. Terrible if you’d want to buy a coffee with your bitcoins.