Like all computer design, we must start this paragraph by saying that Bitcoin has been very well designed, but it is impossible that it is designed for any future that may have finally arrived. The professionals and users of the world of ICT, even the most stalwart techies, know that bugs and their consequent patches are inevitable in everything related to development and software. No matter how genius Nakamoto was, he could not guess all the future uses that the future reserved for his technological currency, neither in functionality nor in computational load or massive adoption. Bitcoin is impossible to be designed reaching perfection, which is why you must reinvent yourself in some (if not several) occasions throughout your (we hope) long life.
On the one hand, we have the technical limitations associated, not with the Bitcoin and Blockchain architecture itself, but with the trading platforms themselves. As in any market, in Bitcoin there are trading markets where Bitcoins are bought and sold, and they have platforms and a specific IT infrastructure. There have been numerous cases, not just of hacks and massive theft of Bitcoins such as those of the ill-fated and extinct Mt. Gox or others, but of operational problems such as the recurring ones of the Bitfinex platform or even some other "theoretically" solvent and secure platforms. .
And I say that these operational problems pose a not insignificant risk because Can you imagine what would happen if, for example, the BBVA broker suddenly could not negotiate shares for a few hours? This is neither more nor less what happens with some Bitcoiners platforms, and it is certainly a risk to take into account, since it can involve a market with a certain risk of being illiquid when you need it most.
But these limitations of specific platforms, bind the limitations of the design and architecture of Bitcoin (and therefore are common to all platforms), which for example in the specific case of Bitcoin mean a current limit of 7 operations per second. The Bitcoin developers themselves have been discussing how to solve this problem for a long time, and the risk arises when the two main positions seem totally irreconcilable.
I don´t think Bitcoin is the future, although I´m a big fan of the blockchain technology. IMO soon a cryptocurrency will come to surface, that will make any other FIAT currency useless.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit