Roger Ver’s flawed logic

Roger Ver shared a tweet today in which he contemplates that since computing power, storage space and bandwidth speed have increased exponentially, therefore, the same is expected regarding Bitcoin’s blockchain size. Since this has not happened therefore bitcoin (BTC) is not worth it.Screen Shot 2018-06-08 at 12.54.10

In our opinion, the logic is entirely flawed. First of all yeah it does make sense to increase the block size but concluding it from the growth of the previous technologies is senseless. For instance, even though the blockchain size has remained stable for BTC but due to lightning network more transaction (and at reduced cost) are already happening.

no of trasaction

 

transaction-fees-usd
The transaction fees were at the max during the Q4 2018 and fell drastically after the implementation of the lightning network.

So basically it’s not essential that blockchain size has to increase exponentially as the most critical part of the blockchain is the security and not the throughput rate. As shown by the lighting network there are possibilities of layer 2 solutions which can help BTC to scale despite lower block size.MY bet is BTC will be there 5 years down the line, I am not sure about BCH.

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