Bitcoin think tank rejects science behind ‘limited adoption problem’ paper
The researchers claim the ideas driving the conclusions found in the original paper were based on flawed assumptions about the nature of Bitcoin. A team of researchers from the Bitcoin Policy Institute, a nonprofit think tank, have roundly reject ed the conclusions reached in a 2022 paper claiming that Bitcoin has an intrinsic scaling problem that will lead to limit ed adoption in the future. According to the Bitcoin Policy Institute’s researchers, the original paper, dubbed “Bitcoin’s Limited Adoption Problem,” is predicated on three faulty assumptions. First, the authors of the original paper claim that payments on the Bitcoin (BTC) network require full network consensus for settlement. Second, they assert that the addition of miners to the network prolongs time to settlement by “delaying network consensus.” Third, they claim there’s an upper limit on Bitcoin payments due to the architecture of Bitcoin’s blockchain. The Bitcoin Policy Institute researchers reject each premise in ...