Author: Venzen Khaosan 2015-06-27 10:19:55
Published on: 2015-06-27T10:19:55+00:00
The article discusses the issue of whether Bitcoin needs to scale to business or does business need to scale to Bitcoin. The writer argues that business is not the Holy Spirit that fills Bitcoin with utility and that Bitcoin already has utility. The increasing adoption of Bitcoin by users and businesses during the past year has not reflected greater value or price. Greater adoption does not necessarily increase a commodity's value as speculation plays with commodity value even when underlying fundamental value remains unchanged. Once decentralization is sacrificed to big business, the final price chart low can be expected. The writer advocates holding our horses and maintaining an even keel while doing our homework. Bitcoin is not trying to fit into the manic global economy's race towards the edge of a precipice. Instead, Bitcoin should be seen as the solution once things go wrong for ordinary users, not opportunistic bank-based business models such as JPMorgan, Pantera Capital or BTC-China. Political pressure tactics have been used to change a distributed consensus system. Formalizing the process may be advocated to deal with political pressure in the open. The block size is not gravity but rather an arbitrary decision to limit planes' wingspan to the most typical hangar door of 1940.
Updated on: 2023-06-10T01:12:22.651458+00:00