4 ms·
I don’t think I ever claimed 20 t/s was sufficient. Just pointing out the throughput has increased by an order of magnitude and there is a tremendous amount of
by etr-strike 9y ago
I don’t think I ever claimed 20 t/s was sufficient. Just pointing out the throughput has increased by an order of magnitude and there is a tremendous amount of ongoing innovation in this space.
- ben_w 9y agoMarvellous, one whole order of magnitude! If you manage another factor of 5000 and Bitcoin will reach what Visa and Mastercard (and, separately, another cryptocurrency) managed several years ago.
- etr-strike 9y agoWhich cryptocurrency supports 60k t/s?
- ben_w 9y agoBitShares, apparently. Press release June 10, 2015, claimed 100,000 t/s.
- etr-strike 9y agoNever heard of it. I suspect their claim is either bogus or their coin is a database.
- ben_w 9y agoThere are far too many cryptocurrencies to keep track of, bit even if the claim is false, Bitcoin is still absurdly slow compared to existing normal systems.
- etr-strike 9y agoWhat existing “normal” systems?
- ben_w 9y agoVisa and Mastercard, like I wrote a few layers above.
- etr-strike 9y agoMy bad, I thought we were comparing global decentralized and trustless systems.
- wallacoloo 9y agoDoes every conversation about bitcoin have to devolve into snark and disrespect? It's not fun. It doesn't do any good for anyone.
- ben_w 9y agoGood question. I’m frustrated by the unwillingness of bitcoin (specifically bitcoin, not blickchain or cryptocurrencies in general) fans to recognise the flaws. It’s like… huh, like politics. Or religion, which is kinda also politics.
- Rmilb 9y agoThis is low level trolling. Visa and Mastercard are not decentralized. Centralization is an easy way to scale. They are not apples and oranges. Also, Bitcoin settles transactions in 30 days, merchants get their funds in 30 days if they are lucky to not have the charge back. Apples and oranges.
- ben_w 9y ago> Centralization is an easy way to scale That is one reason why I prefer centralised to decentralised. I have yet to see a justification for the cost of decentralisation. This cost is an important thing, not a trivial thing. Other reasons include but are not limited to the governance mechanism of things like bitcoin not being demonstrably better than the governance systems of any other currency, but that’s a much longer topic of discussion.