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The world's banking system is at around 500 Billion transactions per year https://www.worldpaymentsreport.com/reports/noncash https://www.worldpaymentsreport.co
by TomK32 8y ago
The world's banking system is at around 500 Billion transactions per year https://www.worldpaymentsreport.com/reports/noncash https://www.worldpaymentsreport.com/reports/noncash while bitcoin has a mere 200 thousand per day https://blockchain.info/charts/n-transactions https://blockchain.info/charts/n-transactions
Even if the banking system (not sure why you include commuters, but then we should also include bitcoin lambos) were to consume the same amount of power it would still handle 2.5 million times (edit: >6000 times) as many transactions.
- seunosewa 8y agoNote that 200,000 transactions per day equals 63 million transactions per year. It’s hard to compare figures if the units are different.
- TomK32 8y agooh, sorry. my mistake. still something like 6000 times more transactions than bitcoin.
- lostmsu 8y agoTo multiply your mistake, those Bitcoin transactions in the chart can be multiparty transactions, where, for example, a store issues all the daily refunds to its customers in a single transaction. Basically, a better metric is needed.
- mido22 8y agoAlso, lightning network needs to be taken into consideration. But does anyone have exact stats for that?