https://www.youtube.com/watch?v=stdi-1tIUhM

What we just experienced in the BTC market could be likened to a flick on the head of the Peter, whereas what is coming will be a set of steel toe boots in the nads.

I think some get me wrong and believe I am a BTC naysayer. This could not be further from the truth and I love anything that makes money.  I really like volatile commodities like crypto as it is the same as the stocks I have traded over the years except I don't have to wait 45 weeks for a 10 percent gain, the inverse is always true so I play tight stops. 

My opinion on BTC is as follows and I will borrow from a comment I made previously

"Bitcoin should stick to being the currency medium for all other currencies and leave the job of acting as a payment for goods to other more efficient technologies. It was the first, but the core developers are strangling it with a desire to keep its legacy functionality ergo we have all these splits..

I'm not saying that bitcoin is flawed per say, the concept is an excellent starting point for better technologies. In many ways it is no different than the steam engine of old, an excellent concept that was in time usurped by the internal combustion engine, the hybrid etc.

As stated Bitcoin (in whatever form becomes the dominant chain) should hold itself as a store of value, and the currency medium for all other currencies.

As a payment system for everyday things its not going to make it. I'm certainly not going to pay a $5.00 transaction fee to buy a $1.50 cent Diet Coke at the gas station. I believe the one major drawback or technological hurdle not yet overcome by all block chain based technologies thus far is transaction speed.

The fact like it or not is that LARGE APPS CANNOT RUN ON THE CHAIN and for the conceivable future based on current technology have a long, long way to go.

The Facts.

Let’s do the math on running something like Facebook on the blockchain. Facebook handles 175k requests per second (900k users on the site in any given minute, assume an action is taken every 5 seconds). And this probably doesn’t include API requests, which are a better analogue and probably 3–4x higher.

Where is Ethereum now?

First, a note: I am not an Ethereum maximalist, but I think Ethereum is the best suited for thinking about scalability right now.

At the moment, Ethereum can handle about 20 transactions per second, which cuts in half to about 7 transactions per second for tokens (4.7m gas limit, 21k avg gas price for standard txn = ~220 standard txns every block, current avg block time 17s = 13 txns/sec, gas requirement roughly doubles for token transactions). And this doesn’t include more expensive smart contract execution.

By this estimate we’re roughly 250x off being able to run a 10m user app and 25,000x off being able to run Facebook on chain.

Also compare it to VISA (a payment system for everyday things, minus a transaction fee for the user) but with a .25 cent or 1.3 percent (greater of) surcharge to the seller

VisaNet handles an average of 150 million transactions every day and is capable of handling more than 24,000 transactions per second.

Again compared to Blockchain:

Ethereum 20 transactions per second.

Bitcoin roughly 7 transactoins per second. (blistering fast).. a long way to go to be the everyday payment method of the common man"


https://steemit.com/bitcoin/@pawsdog/if-i-were-a-bitcoin-whale