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.
He’s not interested in boring blue chip stocks. He’s after explosive investments; companies whose shares trade for cents on the dollar, cryptocurrencies that can deliver life-changing returns. He looks for the ‘edge of the bell curve’ opportunities that are often shunned by those in the financial services industry.
But that’s not where Sam’s talents end. Sam specialises in finding new, cutting edge tech and translating that research into how the future will look — and where the opportunities lie. It’s his job to trawl the world to find, analyse, research and recommend investments in the world’s most revolutionary companies.
