3 ms·
Meanwhile Ethereum just broke 600K txs in one day. A much more useful metric IMO. Bitcoin's price rise has decoupled from its transaction volume growth: https:
by CryptoPunk 9y ago
Meanwhile Ethereum just broke 600K txs in one day. A much more useful metric IMO. Bitcoin's price rise has decoupled from its transaction volume growth:
https://i.redd.it/dreefk5ggkzz.png https://i.redd.it/dreefk5ggkzz.png
- lawn 9y agoYeah I don't see how Bitcoin could possibly continue growing in valuation without being able to grow in tx/s as well.
- Yizahi 9y agoHah, you can clearly see a point when Bitfinex started tether scam this spring.
- nmj 9y agoGuess what has to happen to maintain or increase value transfer when you have reached a limit on blocksize. Ding ding ding! You guessed it! The price must rise. The utility has not degraded and just looking at 'number of transactions' is not useful. Just because I can move some arbitrary number of units in a given timeframe does not mean my unit is more valuable. Banks can move way more than 600k USD transfers in a day.
- CryptoPunk 9y ago>>Guess what has to happen to maintain or increase value transfer when you have reached a limit on blocksize. Ding ding ding! You guessed it! No, the price rise is not in any way conditioned on the block size being limited. Whether $1 billion worth of coins is being moved via 1 million or 1 thousand txs has no bearing on what the per coin price has to be. All that matters is the value moved and the number of coins doing the moving. >>The utility has not degraded and just looking at 'number of transactions' is not useful. Being limited to larger value transactions with higher fees hugely degrades utility.