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by smokeyj 3109 days ago
The price of one bitcoin is arbitrary. $1 is no more crazy than $1 million. It's all crazy. But the question is, what's the supply and what's the demand.

At some point there will be a correction. This velocity can't be maintained forever. But this is also a technology that heavily relies on going viral to become functional (payments/contracts) - and based on real world interactions I think crypto is heading towards an adoption curve that justifies its price.
1 comments
umanwizard 3109 days ago
Bitcoin can never achieve mainstream adoption since the transaction throughput is capped at 3 per second.

Maybe other technologies will, but Bitcoin cannot.

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aggieben 3108 days ago
This is incorrect. Firstly, it's 10 per second. Secondly, it shouldn't be all that hard to imagine "side chains" or even "local-party networks" being built to handle transactions and use the underlying blockchain as a settlement mechanism. This is, as I understand it, how the lightning network works/will work, and I see no reason to think it wouldn't improve Bitcoin's adoption, which is already orders of magnitude better than other cryptos.
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melq 3108 days ago
>Croman, Kyle; Eyal, Ittay (2016). "On Scaling Decentralized Blockchains" (PDF). doi:10.1007/978-3-662-53357-4_8. Retrieved December 10, 2017. The maximum throughput is the maximum rate at which the blockchain can confirm transactions. Today, Bitcoin’s maximum throughput is 3.3–7 transactions/sec [1].

1. http://www.comp.nus.edu.sg/~prateeks/papers/Bitcoin-scaling....

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