Bitcoin is no longer competing with fiat, it’s competing with cryptocurrencies.

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"It's ok for my borderless, immutable, permissionless transaction to cost $10"

That's true if Bitcoin were the only cryptocurrency available. But time is paving the way for competition to proof that they can also be sound money for much lower costs, while adding other interesting features such as smart contracts, privacy, governance.

We can't keep saying that this stalemate is good for Bitcoin because it's showing that it's not easy to tamper with. That argument only makes sense to the degree where we don't implement changes that are stupid.

Scaling Bitcoin is not stupid, it's necessary. I think we only have limited time to come to a consensus on how to scale Bitcoin. After that, we either have to fork the network to give both sides what they want, or Bitcoin will become a pretty uninteresting altcoin.

submitted by /u/RavenDothKnow
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247 Bitcoin

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