3 ms·
That doesn't mean it's useless, it's just that the current state of the technology does not have the same throughput as other technologies in regards to payment
by seibelj 8y ago
That doesn't mean it's useless, it's just that the current state of the technology does not have the same throughput as other technologies in regards to payment processing. Bitcoin has many other aspects that make it more than a "useless commodity", which wasn't implied by the linked article or the fact you quoted.
- omegaworks 8y ago>it's just that the current state of the technology does not have the same throughput as other technologies in regards to payment processing. This makes it an extremely poor currency. It is also an extremely poor distributed linked list with that throughput. If you use the energy resources of a small country just to get 7 transactions per second max recorded in a ledger, you've failed as a system designer. If the intent was to create a currency, Satoshi failed. If the intent was to create a white elephant, Satoshi succeeded beyond their wildest dreams. If our largest institutions are buying in, we will be collectively saddled with the maintenance of the network for the foreseeable future.