Part 8/14:
He recognizes that cycles will repeat, and the industry must be disciplined — knowing when to invest or hold back based on market conditions.
The Scarcity of Block Space and Network Economics
A significant concern Bob raises is the finite capacity of the Bitcoin network. Currently, all blocks are nearly full, and the backlog of unconfirmed transactions hovers around 200,000 — a critical indication of network saturation.
He explains that the network processes roughly 150 million transactions annually, which is insufficient for global needs. To sustain growth, transaction efficiency must improve, or alternative scaling solutions like the Lightning Network become essential.