At this price, no mass adoption

Author

JACQUES DEBRIE
December 21, 2023

We're heading for the wall,

But read on,

We've got the solution,

Remember that old metaphor which compares a new technology to a ship on a stormy sea? 

Well, today, Bitcoin seems to be that ship in the storm. 

With transaction fees flirting with $40, they haven't been this high since April 2021. 

Imagine for a moment that you're in a supermarket. 

You've filled your cart and you're on your way to the checkout. 

But surprise, the cost of your checkout has almost doubled! 

That's what's happening on the Bitcoin network. 

The cause? The craze for registration Ordinals, an innovation comparable to non-fungible tokens (NFT). 

Imagine an auction room where works of art are replaced by digital artifacts. 

This is the fascinating world of Ordinals, an innovation that began to make inroads last May. 

Today, the queue of transactions to be processed on Bitcoin is so long that it could stretch from the north to the south of France. 

More than 300,000 transactions are on hold, creating network congestion comparable to a traffic jam on the Paris ring road at rush hour. 

It's a situation that divides the Bitcoin community. 

On the one hand, those who see these registrations as a departure from Bitcoin's original purpose. 

On the other, those who see it as an ingenious use of network updates. 

Yet, despite the storm, some see an opportunity. 

Adam Back, CEO of Blockstream, believes that this congestion could stimulate the adoption of "layer 2", additional layers that increase the blockchain's capacity. 

So, are we witnessing a full-scale test of what could happen if Bitcoin were to experience mass adoption?

We need a blockchain that's fast (10,000+ tps), secure (identical to Bitcoin) and cheap (~ $0.01)

Which is the sidechain Bitcoin and L1... 

Have smart contracts and also host ordinals and BRC20.

That's where MVC comes in. 

When we need network congestion management, transaction speed and unlimited scalability the most. 

It seems unreal, 

But the time is right and we must seize this chance.

Let's go and spread the word.

JACQUES - SPACE MAXI