3 ms·
Honestly, no, I haven’t. But, in my opinion, the pros and cons of Bitcoin are similar to the pros and cons of any decentralized system: Pros: as long as you ar
by runeks 9y ago
Honestly, no, I haven’t. But, in my opinion, the pros and cons of Bitcoin are similar to the pros and cons of any decentralized system:
Pros: as long as you are able to keep your private key a secret, no one can take your bitcoins from you; doesn’t require trust in party knowing what it’s doing
Cons: no one there to bail you out; poor throughput (currently around 10 transactions per second)
Most other pros/cons I can come up with depend on ones convictions regarding economic theory, so I only included the objectively true ones.
- soVeryTired 9y agoI think it's closer to four transactions per second: https://blockchain.info/charts/transactions-per-second https://blockchain.info/charts/transactions-per-second
- runeks 9y agoI’m talking maximum, not average. Also, it depends on transaction size; there really is no true transactions-per-second figure for Bitcoin. On top of that it depends on wallet software, too — most of which aren’t yet ready to benefit from the recent SegWit protocol upgrade (which increases TPS somewhat). In other words: 10 TPS is possible, but this assumes 1) taking advantage of SegWit and 2) a simple transfer from one account (input) to two accounts (destination+change output).