What is Bitcoin’s Scaling Problem? Will it affect the price of Bitcoin?

There’s a ‘civil war’ brewing in the Bitcoin community at the moment. It all stems from a disagreement about size. And yes, when it comes to Bitcoin, size does matter. The problem is that as bitcoin continues to grow and its blockchain gets larger the whole system slows down. And as millions of new bitcoin users join the network the system is only going to get slower and with the increasing price…more expensive. And those two factors fly completely in the face of Bitcoin’s original intentions.

Blocksize is causing the Bitcoin Scaling Problem

It’s all because of blocksize – the size of blocks on the blockchain. It’s a real problem and it currently has the Bitcoin community split in two. The Bitcoin ‘scaling problem’ is real and it’s a huge risk to the future of Bitcoin. Or is it? In the video below we look at the ‘scaling problem’, what it is, what it means, and how it could play out. Is it the end of Bitcoin or simply teething problems? Watch below to understand what’s going on and importantly how the Bitcoin community plans to solve it and what it means for the future of bitcoin.

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Sam Volkering is an Editor for Money Morning and is small-cap, cryptocurrency and technology expert.

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