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I mean, we can compare it to mastercard: 74 billion transactions a year for mastercard vs 100 million a year for bitcoin. Mastercard revenue is 15 billion whil
by mrep 5y ago
I mean, we can compare it to mastercard: 74 billion transactions a year for mastercard vs 100 million a year for bitcoin. Mastercard revenue is 15 billion while bitcoin has 21 billion in annual mining fees. So mastercard processes 740 times as many transactions for 70% of the cost and I would argue the real cost is the revenue - operating income for their actual expenses to operate which is 7 billion so 1/3 the cost. That would make it 2,220 times as efficient.
- jkhdigital 5y agoBitcoin is like physically moving gold bullion between (anonymous) vaults. It is not appropriate to compare it to MasterCard, because it has dramatically different requirements and guarantees. There may be some Bitcoiners who think it should be used for all payments, but I’m not one of them. Centralized payment processors will always be more efficient, especially for the massive flow of low-value casual transactions that the average consumer produces.