Ledgers are key to scaling money, but they require trust in a central authority. On the other hand, coins and cash don't require trust but are limited in their scalability. Bitcoin solves this by providing a decentralized ledger that can scale infinitely without relying on intermediaries or permission from centralized authorities. This revolutionary feature of Bitcoin not only makes it more secure than traditional payment methods, but also able to handle an infinitely higher volume of transactions through its blockchain technology. It's clear that Bitcoin represents a quantum leap forward when we compare it with previous forms of money issuance and transmission created by humans.#bitcoin #blockchainscaling
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No. Coins and cash are enormously scalable in the sense of transactions per second. They can have problems in long distance or large value transactions - where ledgers and clearing operations can be useful.
Bitcoin does not solve the transactions per second problem. This will require a layer 2, or Bitcoin notes, to solve ... assuming one uses Bitcoin as the base layer.
Could you elaborate more on the first paragraph seems to me that we agree that money is not scalable, people use less and less cash and coins to make transaction probably credit cards or debit cards is what they are using or Wee-chat in 🇨🇳
No, I'm saying coins can scale to as many people as there are: billions of transactions per second. Every person on earth can give their partner a coin at the same time
I will say is doable but not feasible and practical. The practicality is what is making coins an cash to disappear. Let’s agree to disagree.
