3 ms·
This is groupthink propaganda nonsense. Bitcoin can only do 1.5KB/s of transactions and the average transaction costs $26. Any rapid decrease in price will lead
by CyberDildonics 6y ago
This is groupthink propaganda nonsense. Bitcoin can only do 1.5KB/s of transactions and the average transaction costs $26. Any rapid decrease in price will lead to rapid decreases in mining and thus transaction throughput. Does this seem like the future of financial transactions to you?
- scotty79 6y agoTransaction throughput doesn't depend on network hashrate. It gets adjusted to keep fixed througput.
- CyberDildonics 6y agoIn the short term it does. The block difficulty adjusts but not immediately. If hash rate drops rapidly, the time between blocks will lengthen, the time to adjustment will lengthen and the throughput will drop.
- scotty79 6y agoYes. Bitcoin adjust difficulty to hash rate every two weeks. So if you drop hashrate more rapidly than that you can have lower transactuon throughput for up to two weeks. One on average.