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I don't need to own bitcoin to carry out a transaction with it for longer then a few minutes. With a global cap of soon to be 28 transactions a second Bitcoin w

• gerhardi 9y ago
  The capacity for large volume ("real life scale") of transactions with reasonable verification latency is something that I have always seen as the real blocker with Bitcoin. I continue to be slightly surprised that the issue isn't covered more actively.
• solotronics 9y ago
  the problem currently has not been the number of TPS but the fact that different groups have incentive to "spam" the blockchain with fluff transactions 1) miners do this to set a minimum floor for transaction fees 2) subversive elements do this to make a point that Bitcoin cannot handle the use cases it was originally intended for really thinking about this it is probably not a problem because the free market should find the true price for an on-chain immutable transaction. coffee transactions will happen off chain and be settled up on-chain (lightning network)
• mrb 9y ago
  «global cap of soon to be 28 transactions a second Bitcoin» Bitcoin competes more against Western Union than against Visa. WU does only 31 transactions per second, perfectly within range of Bitcoin's capabilities (https://corporate.westernunion.com/annual-report/highlights.html https://corporate.westernunion.com/annual-report/highlights....)