3 ms·
>As the blockchain grows ever larger the thing gets more and more useless as a currency. Just look at how long it takes a transaction to confirm. Blockchain si
by cantrip 9y ago
>As the blockchain grows ever larger the thing gets more and more useless as a currency. Just look at how long it takes a transaction to confirm.
Blockchain size and confirmation times are two entirely different things.
- omegaworks 9y agoGood to know, what is it based upon? I know you can spend coin to prioritize a transaction, is it formulaic?
- bduerst 9y agoBlock size is limited by bytes allowed in the block, usually about 7 transactions a second (on average) for Bitcoin. Increased demand for transactions increased tx fees. The length of the chain can affect processing power and bandwidth, as each block contains all previous blocks.
- cantrip 9y agoNo, why are you making claims such as Bitcoin is the new Beanie Babies when you have literally no idea how any of it works?
- bduerst 9y agoYou don't have to be a carpenter to know if a house is built poorly, just if you try to describe the cause. They were right in their criticism of transaction fees, but were off in what was causing it.