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RE: Gresham's Law, Cryptocurrencies and Bitcoin today
Thanks but I do not understand the reverse flippening. Why would Bitcoin become bad money?
Thanks but I do not understand the reverse flippening. Why would Bitcoin become bad money?
BTC is faced with the problem of having the transactions take too long to process. If you are a buying a house, waiting an hour for the transaction to complete might not be a big deal. However, I doubt many are willing to stand around that long when purchasing a cup of coffee.
The amount of transactions per second that a Visa, as an example, can process, is light years ahead of BTC. BCH and LTC offer an alternative to this although they arent without their challenges. Technological and scaling issues still remain on this front.