In summary, the analysis above emphasizes the fact that network capacity effects will likely be experienced earlier than when the theoretical limit is reached in December 2016, assuming transaction growth continues at a similar pace.
Nathaniel Popper of the New York Times and the author of Digital Gold talks with EconTalk host Russ Roberts about Bitcoin. Can Bitcoin make it? What went wrong with Mt. Gox? Why did Ross Ulbricht, the creator of Silk Road, just get sentenced to life in prison? Why are venture capital firms pouring millions of dollars into companies promising easier ways to use Bitcoin? Popper discusses these questions along with the technical side of Bitcoin to help listeners understand why so many investors are excited about the potential of Bitcoin.
Elements is an open source collaborative project where we work on a collection of experiments to more rapidly bring technical innovation to Bitcoin. Elements are features that are proposed and developed in this technical community that in arbitrary combinations can be fashioned into sidechains.