RE: Crypto not worth Scalable to be Money? Says Bank of International Settlements
Yeah FUD, of course cryptos can scale just fine along with bandwidth and memory, which has been scaling fine for a long time. Not only that, cryptos are already scaling with new tech, sharding, lightning networks, and even PoS/PoW combos.
The “communication volumes” and storage demands associated with mass crypto adoption, the bank argues, could “bring the Internet to a halt.”
These guys think that "the internet" stores the data, or wtf is that lol Terabyte disks cost nothing today...soon there will be cheap 1024 TB discs and no1 will care about having 1TB blockchain data....
5G will offer many GB/s of transaction speeds, so we could re sync the data in minutes if our system crashes...We already have connections this fast, but they are local, at my uni we can get 40GB/s speeds.
The blocks are small enough to cause no traffic problems and will not out scale the growth of connection speed..
Banks...gahh
And nobody knows they might also have invested in cryptos but secretly lol
yeah lol and now they are buying time to dump dollars in to cheap crypto and other assets while telling media that the economy is doing just fine, oh so fine, no inflation or impending collapses here !
Who knows they might even be trading for some yuan :)