3 ms·
It's not just the speed, it's also the fees. You ideally want something that has really minimal fees, so that you can send $.0001 without paying 10x that in fe
by buffalobuffalo 5y ago
It's not just the speed, it's also the fees. You ideally want something that has really minimal fees, so that you can send $.0001 without paying 10x that in fees. The ability to process micro-transactions cheaply and at scale could actually have the transforming affect that bitcoin was originally after.
- Robotbeat 5y agoRight. That’s what Satoshi wrote in their paper. But throughput and fees are related, of course. As I noted, low transaction throughput combined with high popularity means very high fees. Fees get bid up. So to maintain low fees while having high popularity, you need high transaction throughput.
- saalweachter 5y agoHmmm, working the other way, if your goal is to process 100k transactions / second, with each transaction being 1/100th of a cent and your transaction fees being 1/100th of that, your budget for operating your network would be, what, $3M / year?
- Robotbeat 5y agoTrue centi-cent microtransactions like that is going to need probably tens of millions (or even billions) of transactions per second.