4 ms·
What do you mean by "especially advantage for the large numbers, since banks cannot do that" ? Bitcoin requires a validation cycle or two in order to be certai
by PeterisP 7y ago
What do you mean by "especially advantage for the large numbers, since banks cannot do that" ?
Bitcoin requires a validation cycle or two in order to be certain that your transaction is going to be on the main chain, so it's 10-20 minutes.
For traditional infrastructure, the RTGS (real time gross settlement systems) accessible to banks and large customers handle transactions in seconds. If you're in a treasury department of a company who routinely needs to move large amounts around, doing so nearly instantaneously is absolutely a solved problem.
- koonsolo 7y ago> is absolutely a solved problem I'm going to sell my car on Sunday to another private person. I will hand over the documents and keys, while he instantly wire transfers me 20k. Now all of a sudden it's not a solved problem anymore is it? And Bitcoin, please, that's old tech. There are way more advanced cryptocurrencies now that have high TPS and < 10 sec validation.