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> I've personally used bitcoin to send money between my brother and myself (he was in Australia at the time, I was in the EU) because it was both faster and che

> I've personally used bitcoin to send money between my brother and myself (he was in Australia at the time, I was in the EU) because it was both faster and cheaper than a bank transfer or western union. You do realise Bitcoin is unable to scale with a large volume of transactions, grinding it to almost a complete halt. So even if Bitcoin reaches critical mass, your brother will be waiting a very very long time to receive their funds, all with extremely high fees. Questioning the use of Bitcoin would start and by then the BTC price would have gone down had a mass sell off occurred. Not hypothetical by the way, actually happened only months ago. [0] So how is this better than Paypal or Western Union? https://www.techradar.com/uk/news/massive-bitcoin-selling-spree-causes-cryptocurrency-traffic-jam https://www.techradar.com/uk/news/massive-bitcoin-selling-sp...

baby 5y ago
Throughput in blockchain is solved. Just saying.
- kgraves 5y ago
  Any evidence or sources for this statement for it to be completely solved? Or are you 'just saying this' because...?
  - baby 5y ago
    Avalanche, algorand, solana, hashgraph, etc.
    - kgraves 5y ago
      Listing random coins isn't sufficient evidence for your claim, back them up with links. Since you claimed it's a solved problem, I am assuming these coins never had congestion issues which is why you chose them?
trophycase 5y ago
I always love the "grinding to a halt" metaphor because it's so terrible. Bitcoin average block times don't change when lots of people are using it, and neither does tx throughput. Nothing grinds to a halt.
siwatanejo 5y ago
> You do realise Bitcoin is unable to scale with a large volume of transactions, grinding it to almost a complete halt. Please research the topic more, the Lightning Network solves this problem and is already being used with no issues in El Salvador.
- kgraves 5y ago
  > ...with no issues in El Salvador. Sounds like this is a huge issue in El Salvador [0]. [0] https://www.bbc.com/news/business-57507386 https://www.bbc.com/news/business-57507386

baby 5y ago

Throughput in blockchain is solved. Just saying.

kgraves 5y ago
Any evidence or sources for this statement for it to be completely solved? Or are you 'just saying this' because...?
- baby 5y ago
  Avalanche, algorand, solana, hashgraph, etc.
  - kgraves 5y ago
    Listing random coins isn't sufficient evidence for your claim, back them up with links. Since you claimed it's a solved problem, I am assuming these coins never had congestion issues which is why you chose them?

trophycase 5y ago

I always love the "grinding to a halt" metaphor because it's so terrible. Bitcoin average block times don't change when lots of people are using it, and neither does tx throughput. Nothing grinds to a halt.

siwatanejo 5y ago

> You do realise Bitcoin is unable to scale with a large volume of transactions, grinding it to almost a complete halt. Please research the topic more, the Lightning Network solves this problem and is already being used with no issues in El Salvador.

kgraves 5y ago
> ...with no issues in El Salvador. Sounds like this is a huge issue in El Salvador [0]. [0] https://www.bbc.com/news/business-57507386 https://www.bbc.com/news/business-57507386