Rub3X

[deleted]

They would require almost every other miner tp be switched off.

Ok so if we reach the price point where that happens then the network is at risk. The price right now is 99.9% speculation right now. So once further speculation dies down, and the price continues what it's been doing for 60 weeks, there is eventually a certain price at which the entire bitcoin network would collapse. Is that price $100? $50? $10? Who knows, but two things are clear:

• There is a price at which it will collapse

• The dollar amount per bitcoin needed to support the bitcoin network is lower than that price.

For the most part I don't think scale is an issue right now,

Several blocks yesterday were nearing the transaction limits because there was so much activity. The average block size is 30-40% capacity. So considering high volume days fill the blocks to the limit, and your average day fills it half way, it seems like a fix should be the #1 priority for developers. However, that does not appear to be the case. It seems this issue has been raised repeatedly and pushed back to some later date. Why would people have confidence in bitcoin to the point of investing if core developers can't even do basic maintenance to keep the protocol functioning properly?

I keep hearing about this network effect. However with bitcoin having 100,000 (according to federal reserve) world wide users, I see no reason why bitcoin could not be replaced. Plenty of protocols, software, and other technologies have been completely replaced and put on the back burners of history - and most of those technologies had far more than 100,000 global users.