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SVTPerformance's Chain of Restaurants
Road Side Pub
BITCOIN
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<blockquote data-quote="quad" data-source="post: 16591259" data-attributes="member: 17952"><p>I don't think that will be enough. If Bitcoin goes to $1 million then .01 will be $10,000. If it goes to $10 million then it would equal $100,000. 10 years from now $100,000 will not go very far.</p><p></p><p>I think the world is too big for only one cryptocurrency to reign supreme. Bitcoin can hardly manage 7 transactions per second (but not for long). That blockchain is going to get bigger and bigger over time as more and more transactions are recorded. It will become very bloated. I think it will be a store of value but hardly used for daily or even weekly transactions. The Bitcoin holdings could be used as collateral though for loans as Michael Saylor envisions.</p><p></p><p>I think the DEFI market is also too big for only Ethereum to dominate. I think it will be split between Ethereum, Cardano, Polkadot and perhaps a few others. Their blockchains will also become bloated over time. I see Ethereum become another store of value like Bitcoin. Not quite as valuable but not too far behind. Ethereum is set to become deflationary with EIP 1559. So the supply might actually shrink as more ETH is burned than minted.</p><p></p><p>Ethereum is soon going to scale 100x + also. Transaction speed will increase from 22 per second to between 1,000 and 4,000 according to Vitalik. This will be made possible by a layer 2 solution called Optimistic that will be coded inside Ethereum. Then in July EIP 1559 will be implemented to further reduce gas fees and make Ethereum deflationary. But Optimistic will be the solution that really brings down gas fees. As an Ethereum miner I will be getting less ETH after the EIP 1559 upgrade but this could be offset if the price of Ethereum shoots way up.</p><p></p><p>In 2022 or 2023 the final transition will be made to Ethereum 2.0. Mining will then be phased out and proof of stake will be the mechanism that secures the network 100%. Similar to Cardano. Transaction speed will then improve to 100,000 per second or even 1 million per second. Note that VISA can only do 1,700 transactions per second. The user experience will greatly improve for Ethereum.</p><p></p><p><a href="https://news.bitcoin.com/no-visa-doesnt-handle-24000-tps-and-neither-does-your-pet-blockchain/" target="_blank">No, Visa Doesn’t Handle 24,000 TPS and Neither Does Your Pet Blockchain – Blockchain Bitcoin News</a></p><p></p><p>Not to be outdone, Bitcoin has the Lightning Network (also a layer 2 payment protocol) which promises to improve network speed from 7 TPS (transactions per second) to several million per second. This would really make sending cryptos to other people as fast and convenient as emails.</p><p></p><p><a href="https://en.wikipedia.org/wiki/Lightning_Network" target="_blank">Lightning Network</a></p></blockquote><p></p>
[QUOTE="quad, post: 16591259, member: 17952"] I don't think that will be enough. If Bitcoin goes to $1 million then .01 will be $10,000. If it goes to $10 million then it would equal $100,000. 10 years from now $100,000 will not go very far. I think the world is too big for only one cryptocurrency to reign supreme. Bitcoin can hardly manage 7 transactions per second (but not for long). That blockchain is going to get bigger and bigger over time as more and more transactions are recorded. It will become very bloated. I think it will be a store of value but hardly used for daily or even weekly transactions. The Bitcoin holdings could be used as collateral though for loans as Michael Saylor envisions. I think the DEFI market is also too big for only Ethereum to dominate. I think it will be split between Ethereum, Cardano, Polkadot and perhaps a few others. Their blockchains will also become bloated over time. I see Ethereum become another store of value like Bitcoin. Not quite as valuable but not too far behind. Ethereum is set to become deflationary with EIP 1559. So the supply might actually shrink as more ETH is burned than minted. Ethereum is soon going to scale 100x + also. Transaction speed will increase from 22 per second to between 1,000 and 4,000 according to Vitalik. This will be made possible by a layer 2 solution called Optimistic that will be coded inside Ethereum. Then in July EIP 1559 will be implemented to further reduce gas fees and make Ethereum deflationary. But Optimistic will be the solution that really brings down gas fees. As an Ethereum miner I will be getting less ETH after the EIP 1559 upgrade but this could be offset if the price of Ethereum shoots way up. In 2022 or 2023 the final transition will be made to Ethereum 2.0. Mining will then be phased out and proof of stake will be the mechanism that secures the network 100%. Similar to Cardano. Transaction speed will then improve to 100,000 per second or even 1 million per second. Note that VISA can only do 1,700 transactions per second. The user experience will greatly improve for Ethereum. [URL='https://news.bitcoin.com/no-visa-doesnt-handle-24000-tps-and-neither-does-your-pet-blockchain/']No, Visa Doesn’t Handle 24,000 TPS and Neither Does Your Pet Blockchain – Blockchain Bitcoin News[/URL] Not to be outdone, Bitcoin has the Lightning Network (also a layer 2 payment protocol) which promises to improve network speed from 7 TPS (transactions per second) to several million per second. This would really make sending cryptos to other people as fast and convenient as emails. [URL='https://en.wikipedia.org/wiki/Lightning_Network']Lightning Network[/URL] [/QUOTE]
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