5 ms·

> .. millions of transactions per second, which is what El Salvador will be using? Why would that be what El Salvador is using? That is such a weird notion, an

> .. millions of transactions per second, which is what El Salvador will be using? Why would that be what El Salvador is using? That is such a weird notion, and one of the reasons Bitcoin is often incorrectly called unscalable. How many financial transactions do you think an average person does per day? I don't know but probably not much more than one, maybe even less. If you handle special B2B cases like high frequency trading separately, financial transactions ceases to be big data.

wokwokwok 5y ago
You think the average person does less than one financial transaction per day? O_o I mean, sure, not everyone is out getting a coffee every morning, but that strikes me as roughly an order of magnitude below reality. Let’s say, shopping three times a week, with 5 transactions per shopping trip; that’s already an average of 2 transactions a day, but worse, since it’s clustered in small time intervals. How do possibly get 0-1 transactions per day per person? That’s.. a society where people don’t use money. It’s not a thing.
- yorwba 5y ago
  Over the last three months, I've made on average slightly more than two transactions per week, most of which is due to buying food every 3 or 4 days. Everything else is a rounding error. Now I won't claim my consumption pattern is typical, but it certainly shows that 0-1 transaction per day is possible. (What are the five shops you visit three times a week?)
  - ben_w 5y ago
    Working from home during the pandemic, I’ve been making 4.3 transactions per week. If I was still commuting, I’d add at least 5 a week for lunches, might add another 5 a week for train station Brötchen and cookie. If the restaurants were back to normal, might add two more per week for evening meals. I think I prefer my new normal of the bulk shopping being a once a week collection, so that probably won’t go back to my old habit of whatever/wherever, but even then the local doesn’t have everything I want, so there will be a few additional transactions with grocery stores. (My commute costs will likely be a once-per-year expense, so a rounding error for transactions per week).
  - wokwokwok 5y ago
    > What are the five shops you visit three times a week Ah, chemist, supermarket, coffee shop, butcher maybe bakery? Heck, I might run out of sugar and have to go shopping again! Is it really that weird? I’d particularly like to point out that all-in-one shops are globally atypical, and specifically atypical in smaller communities. I seriously think you should consider your buying patterns as not representative of... most people, in most places, and specifically not el salvador.

wokwokwok 5y ago

You think the average person does less than one financial transaction per day? O_o I mean, sure, not everyone is out getting a coffee every morning, but that strikes me as roughly an order of magnitude below reality. Let’s say, shopping three times a week, with 5 transactions per shopping trip; that’s already an average of 2 transactions a day, but worse, since it’s clustered in small time intervals. How do possibly get 0-1 transactions per day per person? That’s.. a society where people don’t use money. It’s not a thing.

yorwba 5y ago
Over the last three months, I've made on average slightly more than two transactions per week, most of which is due to buying food every 3 or 4 days. Everything else is a rounding error. Now I won't claim my consumption pattern is typical, but it certainly shows that 0-1 transaction per day is possible. (What are the five shops you visit three times a week?)
- ben_w 5y ago
  Working from home during the pandemic, I’ve been making 4.3 transactions per week. If I was still commuting, I’d add at least 5 a week for lunches, might add another 5 a week for train station Brötchen and cookie. If the restaurants were back to normal, might add two more per week for evening meals. I think I prefer my new normal of the bulk shopping being a once a week collection, so that probably won’t go back to my old habit of whatever/wherever, but even then the local doesn’t have everything I want, so there will be a few additional transactions with grocery stores. (My commute costs will likely be a once-per-year expense, so a rounding error for transactions per week).
- wokwokwok 5y ago
  > What are the five shops you visit three times a week Ah, chemist, supermarket, coffee shop, butcher maybe bakery? Heck, I might run out of sugar and have to go shopping again! Is it really that weird? I’d particularly like to point out that all-in-one shops are globally atypical, and specifically atypical in smaller communities. I seriously think you should consider your buying patterns as not representative of... most people, in most places, and specifically not el salvador.