Would Bitcoin and its blockchain be able to handle mainstream adoption as a store of value without requiring 2d-layer solutions? Genesis Mining's head of mining operations, Philip Salter, holds a mixed view.

"I retrieve Bitcoin is a good store of value regardless of transaction fees," Salter told Cointelegraph. "The upshot is — the higher the fees are the larger is also the minimum value that can be efficiently transferred."

Bitcoin (BTC) has stood the test of time upwardly to this betoken, with BTC maintaining its place as the crypto industry's highest market cap asset for the past 12 years. Bitcoin is seen as more of a store of value than digital greenbacks these days, even so, and Salter thinks complications may still arise from this shift in perceptions:

"Some years ago it was possible to store and transmit $ane efficiently, since tx fees were finer nil. Currently, sending a transaction can hands cost $15, so information technology is not sensible to transmit $1 any more. If this trend continues due to more utilise of BTC and higher BTC prices, it will become prohibitive to transfer value in common amounts and it will be only an effective store of value for very large amounts."

"That's why I think that second Layer solutions are a necessity not just for the use of BTC as a currency but too for the long term feasibility of BTC equally a store of value," Salter added. Manufacture players have worked on layer-two scaling solutions, such equally Lightning Network, in an effort to facilitate pocket-sized transaction capabilities.

Salter himself uses Lightning Network solutions for his own Bitcoin endeavors. "I personally upgraded my personal phone wallet to a lightning-only wallet (Phoenix), and so that I can even in these crazy times pay with coins apace and cheaply," he said. "To anyone who tried to utilize lightning ii years ago and found it disruptive, I strongly advise that you lot give information technology another try now that information technology's far more established and user friendly to apply."

Bitcoin'southward scaling argue was a focal signal of discussion in 2017 and 2018. In September 2020, MicroStrategy said information technology faced no major bug during i of its BTC accumulations. The firm bought 38,250 BTC using a combination of off-chain and on-chain avenues.