Bitcoin has matured over the course of 10 years, it has converted a lot of skeptics to (if not believers, at least) being open towards having a rational approach towards it in the recent days, including, Warren Buffett, Jamie Dimon, etc. In addition, the government has come to accept that Bitcoin cannot be banned altogether, hence leading them to regulate it. The institutions have changed their tune, as they are starting to invest in Bitcoin and the best example is Bakkt.
Bitcoin has solved a lot of problems it had, however, there are still a few problems that are yet to be addressed, one of that includes, scalability and transaction time. Although Lightning Network has been mildly successful, it hasn’t erased the scalability problem, both of which are perhaps, the most important ingredients for the adoption of Bitcoin.
Tone Vays, Jeffrey Tucker, and others discussed the adoption of Bitcoin among other things with Naomi Brockwell at Porcfest on June 22. Tone Vays, a prominent trader and a Bitcoin enthusiast, said that he was happy with how Bitcoin has turned out over the past years but was sad about the developments in the past 5 years as people were focussed on making money with altcoins and that people were no longer unified and trying to get rid of fiat.
Vays further added:
“… it’s fractured the community a lot because everyone wants their own money to succeed and that’s not what a protocol is so I’ve been really disappointed with the community”
Jeffrey Tucker disagreed with Vays as he added that the outcome of the development of cryptocurrencies, including Bitcoin, couldn’t possibly be dictated. Tucker added:
“We now have choices in currency and we now, have brought market forces to the topic of money,