American Institute for Economic Inquiry editorial director Jeffrey Tucker reignited the long-running Bitcoin scaling contend with a tweet earlier today.

The economist — who has long been a proponent of Bitcoin (BTC) — suggested the electric current price is much lower than it otherwise would accept been because the underlying technology has not been "properly scaled".

On March 31, Tucker tweeted:

The Tweet expands on comments Tucker made earlier this month on RT, during a console word with noted Bitcoin skeptic Peter Schiff. During the contend he said besides much time had been wasted on this "ridiculous scaling problem" which had ultimately prevented mainstream adoption:

"Adoption hasn't gone far plenty and it hasn't come into consumer use like it should and would have if information technology had been able to scale. Now we're seeing what happens when Bitcoin was not properly scaled."

Tucker said Bitcoin was designed to thrive in times like the current financial crisis, and suggested the reason it hasn't is due to its scaling trouble:

"Bitcoin was innovated to become a safe oasis 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?"

Vitalik Buterin and Blockstream weigh in

The BTC scaling issue has been one of the most heated debates in cryptocurrency. The base layer network isn't able to procedure transactions quickly enough to enable wide scale, mainstream adoption as a currency. The argue over raising the block size equally a solution ultimately led to the Bitcoin Greenbacks (BCH) and Bitcoin SV (BSV) forks, while Bitcoin itself adopted the layer two Lightning Network as a scaling solution.

Tucker's March 31 tweet sparked a debate among prominent members of Crypto Twitter. Ethereum (ETH) co-founder Vitalik Buterin encouraged the economist to look at the long awaited Ethereum 2.0, which is due to launch this twelvemonth, stating it volition take "high scalability but without the centralization that rely solely on increasing block size."

This provoked much derision from Bitcoin development visitor Blockstream's CEO Adam Back, and CSO Samson Mow, who wrote "Lols" and posted a 'crying with laughter' emoji respectively.

Scaling has nil to do with the price

On chain analyst Willy Woo suggested that scaling has zip to do with the price or market place cap, pointing to gold as an example:

"Gold is $9T. How many transactions per second does gilt practise? 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 southward--t scales, so will BTC'due south layer two."

Bitcoin Informational founder Pierre Rochard said the price would be the same regardless equally scaling is "non the bottleneck for adoption."

Bitcoin proponent Vijay Boyapati argued it was not necessary to imagine a "properly scaled" Bitcoin, as that was Bitcoin Cash: "The toll would be $200; the price of BCash. i.e., the marketplace massively discounts what you consider "proper scaling" and profoundly values immutability."

Investor and author Tuur Demeester said Tucker's tweet had annoyed him: "Having been in Bitcoin as long every bit y'all have you should know meliorate imo — Bitcoin is scaling just fine."

To which Tucker laid downwardly a claiming: "Well, permit's go off Twitter and discuss this like gentlemen quondam."