Change, the fear of the inevitable is one of human s greatest weakness. And is also the greatest weakness of what we call the king of Blockchain technology this day, Bitcoin. 

We are all busy praising a technology of 3-7 tps as what will take over the entire financial system of the world. 

We want to resolve the big problems of the world, while making almost all applications and economies to be connected to the global ledger. This cannot be done on Bitcoin, neither on Ethereum (even if L2, L3s are launched). 

Global unstoppable markets, billions of users, reaching majority of the unbanked can be done only on scalable chains. Those which are safe, scale with the demand, enable customisation while preserving and having the best decentralisation.

Bitcoin has succeeded as an experiment to unravel the world of decentralized finance but the maxis just won't leave it now, because it has become a store of value for most of the rich folks.

Bitcoin has had such a solid foundation in the hearts of blind investors that startups can no longer thrive even when the offer better solution to most of the problems Bitcoin was meant to solve. 

Taking the entire internet and putting it on a chain that can only take 7 transactions at most with insanely high fees and no practical way to scale it is just not how to go decentralized. 

From it's utility to get economics, BTC is failing to deliver on the promises of Satoshi Nakamoto.

Instead of 10-60min, competitors have a finality of 1-6sec

Instead of a TPS of 13, competitors have capacities exceeding 100k. The alternatives are also more programmable & economically sound. Bitcoin will be unable to adapt because of the systemic flaw in it's governance. 

Many people are predicting a 100-300k price for Bitcoin in the next 5years but how are you sure that such a system will survive the next five years of innovation. BTC is not capable of facilitating a large number of exits simultaneously

This further creates the potential for a bank-run-type situation

To make things even worse, BTC could even go into a type of death spiral

As price drops, hashrate lowers, closing the door even more!

This is because BTC's difficulty adjustment algo only adjusts every two weeks

This means if panic sets in & price drops, leading to more miner shutdowns

It would slow BTC down so much that it would constrict capacity much more, deepening the panic.

Hope you learnt something today, I am ticktalker and I always post crypto/educative contents.

Making each day count in the world of crypto is crucial for success. Plan, research, and learn to stay ahead. Keep pushing, legends! 💪💯

Until next time, stay SAFU.

Please whatever is written in the article above is for educative purposes only. I am not a financial advisor.

Be sure to follow me and turn on the notification, to see more of my articles.