Did Bitcoin just prove it can't scale?

Re:Did Bitcoin just prove it can't scale? by oarsinsync on Saturday December 09, 2017 @04:14PM (#15888193)

This you may not be aware of, but there have been periods where the fee has remained in excess of over $1 for over 72 hours. A 20 cent fee will not cover you there.

Looking at my transaction history, of my last 10 transactions, all had fees in excess of $1, one as high as $14.

I'm not losing any sleep over it, but I'm also not going to call the fees reasonable.

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Re:Did Bitcoin just prove it can't scale? by vasilipupkin on Saturday December 09, 2017 @04:32PM (#15888278)

I agree, bitcoin is not good for micropayments. But that's not the only use case that matters.

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Re:Did Bitcoin just prove it can't scale? by Taniwha on Saturday December 09, 2017 @05:44PM (#15888619)

It depends on your definition of "micro payments" ... With a fixed number of bitcoin ever in existence for it to ever become a real world currency two things have to happen A) it's value inflate to a value that is an order of magnitude of all the value of the world .... B) be cheap enough, and fast enough that you can buy gum at the corner store

Without micro payments it's stuck in a niche paying ransoms and doing drug deals

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Re:Did Bitcoin just prove it can't scale? by rrix2 on Saturday December 09, 2017 @05:19PM (#15888491)

it's one of the only usecase that matters if you're talking about using it as a general-use currency...

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Re:Did Bitcoin just prove it can't scale? by vasilipupkin on Saturday December 09, 2017 @05:34PM (#15888563)

Yes, but my original point is biggest holders of btc are talking about it as a digital replacement for gold, not as a general use currency

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