According to Kraken boss Jesse Powell, answering questions from the very conservative Bloomberg, Bitcoin will become as fast, simple and easy to use as this good old American dollar. The performance will be made possible thanks to the current improvements and additions of the second layer type (like Lightning Network) from which benefits its original structure. These will make Bitcoin both a store of value, but also a high-performance, autonomous … and stateless payment tool, qualities that Uncle Sam’s Green Ticket doesn’t really have.
From Ford T to SPACE X
Too much slow, not allowing morea handful of transactions per second, all on a blockchain quickly crowded… Bitcoin is often criticized, which is precisely what makes its initial value proposition: a system unalterable, and whose relative hardiness makes it impossible – or of infinite difficulty – to try to cheat or manipulate the system and the rules.
But these initial virtues quickly turn into deadly difficulties for those who dream of seeing Bitcoin become a payment system fast, modern and efficient (which is not necessarily its first quality, which is rather to be sought in its status as a store of value).
More virulent, the main opponents and critics of Bitcoin tend to brandish their limitations, all the more obvious at a time when among its numerous descendants, multiple altcoins offer multiple and almost instantaneous transactions (Stellar, XRP to name only the most obvious, even Bitcoin Cash (BCH) or Bitcoin Satoshi Vision (BSV) for the number of transactions accepted per block).
Except that, beyond its classic status “Digital gold”, it turns out that Bitcoin can be the subject of technological tuning and be able to add options of nature to boost its performance. These performances are notably guaranteed by the addition of overlays applied on the original blockchain. A bit like an antique Ford T to which we would have added a Lamborghini or TESLA S engine (let’s stick to themes dear to our hearts of aspiring millionaire techie geeks).
Asked about Bitcoin’s potential during an interview for Bloomberg, Jesse Powell, the boss of the exchange Kraken says nothing else and even takes the opportunity to remind that Bitcoin could be at the dawn of a phase of mass adoption.
Powell’s position: Bitcoin will prevail …. when it becomes invisible
Kraken boss once again reminded status – obvious to him – of safe haven embodied by Bitcoin. This position is not the most original for anyone who knows a little bit about the industry. What is a little more, however, is that Powell believes that Bitcoin will explode when the queen of crypto …will become invisible to its users in its mechanics and its operation.
“Soon, all the technology behind Bitcoin will disappear and it will be like the US dollar which nobody really understands how it works, but where everyone uses it”
We will agree that the observation is relevant: if we are still evolving in the era of the construction and technological implementation of Bitcoin, and that the ultra-sharp details fascinate a small community of coders as brilliant as hermetic, Tomorrow’s users will make fun of the details of Lightning Network’s architecture as much as they care today about how the SWIFT system works.
So to impose itself, Bitcoin will have to disappear, so to speak, or at least be erased behind ergonomics and the famous “User Experience”. In other words, to finally succeed, the flamboyant Bitcoin will have to be discreet and become invisible for the good of the greatest number.
Nice to meet you, it’s Hellmouth! Editor-in-chief of Cryptocurrencies, the crypto media you are honoring to survey right now (well done, you have taste).
Crypto-enthusiast of the second hour, nothing is more important to me than supporting the global adoption and democratization of the treasures that the blockchain offers us.
I write articles between two cocktails in Tahiti, my adopted island, and do not hesitate, if the opportunity arises, to feast on a plump scam or a little too enterprising Ponzi pyramid.
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