Author: Thomas Zander 2015-07-30 16:07:40
Published on: 2015-07-30T16:07:40+00:00
In a discussion on bitcoin-dev mailing list, Thomas Zander questioned whether Bitcoin would be outcompeted and replaced or considered worthless due to the low availability of transaction space that costs $10 to pay for inclusion. In response, Bryan Bishop argued that any decentralized system will have high transaction costs and scarcity, but it also adds replication, redundancy, and cheap expansion of capacity. He compared the situation to when single-core CPUs were replaced with multi-core and hyperthreading, which was initially criticized for being useless, but now has fantastic frameworks to make it easy. Bishop believed that the same would happen with distributed technology, and none of the assumptions about its limitations are inherent in the technology.
Updated on: 2023-06-10T04:15:24.716549+00:00