Why Bitcoin Transaction Capacity Doesn’t Really Matter
Jimmy Song

Bitcoin’s utility as a store of value is dependent on its use as a medium of exchange. If Bitcoin were completely useless as a medium of exchange (hypothetically speaking), then liquidity would disappear, value would drop and it would become completely useless as a store of value. If its utility as a medium of exchange were to be eclipsed by an altcoin, there is the significant danger that bitcoin would also lose its utility as a store of value. This is why it is very important to continue to make improvements to bitcoin in terms of transactions per second, fungibility, etc.

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