Economist Jeffrey Tucker Asks The Ultimate Scaling Question

American Institute for Economic Research editorial director Jeffrey Tucker has made a new case for the never-ending Bitcoin scaling debate. The economist — who many consider to be one of the leading advocates of Bitcoin (BTC) — suggests we are currently experiencing the low price of bitcoin because the underlying technology has not been “properly scaled.”

Last month, Tucker said, “I’m not unimpressed by a $6K price of BTC. I was blown away when the thing reached $30.00. But can you imagine the price today if the thing had properly scaled?”

The statement sheds more light on a similar comments Tucker made earlier this month when he was in talks with noted known skeptic Peter Schiff. During the conversation, he said much time had been spent on the scaling issue which had its role in preventing mainstream adoption

“Adoption hasn’t gone far enough, and it hasn’t come into consumer use like it should and would have if it had been able to scale. Now we’re seeing what happens when Bitcoin was not properly scaled.” According to Tucker, Bitcoin was made to prosper in times like the current financial crisis and suggested the reason it hasn’t is due to its scaling problem

“Bitcoin was innovated to become a safe haven during times just like this. So why aren’t we seeing Bitcoin become the safe haven that it was developed to be, and was for a number of years?”

Scaling and Price

On chain analyst Willy Woo has mentioned that there is no correlation between scaling and price, pointing to gold as an indicator

“Gold is $9T. How many transactions per second does gold do? I mean shipping the underlying between vaults. That’s BTC main chain. The swaps we do on ETFs and derivatives is Gold’s layer 2. That s–t scales, so will BTC’s layer 2.”

Bitcoin advocate Vijay Boyapati said that a “properly scaled” Bitcoin, is what the industry hopes to get from Bitcoin Cash,” the price would be $200; the price of BCash. i.e., the market massively discounts what you consider “proper scaling” and greatly values immutability.”

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