RATE Group | India’s Biggest Startup Incubator CEO Falsely Says Bitcoin Failed
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India’s Biggest Startup Incubator CEO Falsely Says Bitcoin Failed

16 Sep India’s Biggest Startup Incubator CEO Falsely Says Bitcoin Failed

Posted at 10:02h in Bitcoin News by

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Bitcoin tax

According to Jay Krishnan, the CEO of T-Hub, India’s largest startup incubator & venture advisor to SRI Capital, Bitcoin has failed due to $20 transaction fees. Except that since December, for over nine months, the median transaction fee of Bitcoin has remained below $0.2.

In December 2017, the demand for Bitcoin and other major cryptocurrencies like Ethereum, Ripple, and Bitcoin Cash achieved an all-time high. The price of Bitcoin, which hovered at around $19,500 in the global market, surpassed $24,000 in South Korea, as premiums pushed the price of BTC up.

False Argument About Scalability

Bitcoin and blockchain-based systems, in general, are decentralized networks that exist on peer-to-peer protocols. As such, scalability through cryptographic engineering and development is required. Since the end of 2017, Bitcoin, Ethereum, and many other blockchain networks have seen a drastic improvement in scalability.

Bitcoin has integrated SegWit and Lightning while Ethereum is in…

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