Bitcoin Post
I had to write a TLDR on Bitcoin's Scalability. I am trying to get to writing on the latest CTV but have to keep going back to the 100,000 foot level of the issue. Please let me know where I am wrong on this and I will correct.
For Now:
https://bitcoinapolis.blogspot.com/2024/01/bitcoin-bitcoin-scaling-biggest.html
Bitcoin: "Bitcoin Scaling - The biggest Issue/Non-issue since Day 1?"
By BR Bitcoinapolis
January 7, 2024
Premise:
Bitcoin, by Satoshi's design with POW, Base Layer Timechain, L1, was never designed to handle billions of people/merchants with zillions of payment transactions on the Base Layer. However, Bitcoin can and will scale to the billions on Layer 2/Layer 3.
Explained by Satoshi on Day 1.
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Bitcoin was designed and has evolved into two paths. People of the world will choose to one, both, or none.
1) SOV (Digital Money/Digital Gold/Digital Property) - For SAVING Bitcoin (Currently No Friction)
2) Currency - Used by merchants instead of Visa, circular economy - For SPENDING Bitcoin. (Currently Friction)
Expanded:
(edited for length)
Me: Yes, there are issues with the current state of Bitcoin scaling as there have been since day one. Yes, the Lightning Network 1.0 has its issues but are we naive to think Jack Mallers, Jack Dorsey, and Michael Saylor are not looking into this already? Saylor has said publicly he has a bunch of Bitcoin projects going on inside Microstrategy. Do you think that is only for their internal use of internal customers? Can you imagine an announcement of a new version of the LN backed by Microstrategy/Saylor/their Current Bitcoin Cache?
Maybe this is worth re-posting?
(edited see link)