The following post by Xckoro is being replicated because some comments within the post(but not the post itself) have been openly removed.
The original post can be found(in censored form) at this link:
np.reddit.com/r/ CryptoCurrency/comments/bdvzvk
The original post's content was as follows:
Seriously,
Last time we hit $20k in 2017 the bitcoin network was so crowded with transactions the fees to transfer bitcoin were ridiculously high, not only that, it literally would take a whole day for a transaction to be processed in the Bitcoin Network and that was only at $20k.
What will happen to the network once we hit $50k and even more people start using it, last time I check there has not been any updates to the network and the lighting network is far from being used.
I even remember the Bitcoin Foundation stopped taking bitcoin for their event in miami back in 2017 because the network was so crowded and the fees were just too high, a bitcoin event had to stop taking bitcoin itself just because it was that crowded, just let that sink in.
With a bigger bull market bitcoin will probably be just impossible to use. Since more people will be using it on the next bull market and from the 2017 to now nothing has changed in the bitcoin network.
5 TPS is going to be really bad for mass adoption.
Change my mind about this.
Discuss
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