This latest episode of “Bitcoin is DEAD” reminds me of an article I read about twenty years ago. I am sorry to say that I don’t recall the author or where it was published, but the main idea was that the Internet was a complete failure, because it added so much users that it was impossible to deal with the resulting network congestion.
As it turned out, the Internet has not failed. It is still alive and kicking.
And the Bitcoin problem with scaling is basically the same that article pointed out 20 years ago. Too many users to deal with.
Actually, that’s a good problem to have. Bitcoin is adding users all the time. That’s success.
Obviously, the network infrastructure will have to grow to deal with these new users. There may be different ways to do that.
But “failed because of too many users” didn’t make sense twenty years ago.
Nor does it make sense now.
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