4 ms·

I am curious how the 99.98% SLA compares to other payment networks (eg: Visa, etc). A bit apples to oranges, since the transaction volume is different.

flatiron 5y ago
You can buy goods and materials with visa though. Not sure people want to wait 30 minutes to buy a cup of coffee with bitcoin.
- vmception 5y ago
  2016 called and wants its arguments back
  - recursive 5y ago
    Is the argument less valid because someone made it in 2016?
    - vmception 5y ago
      Its less valid because the state of the network has changed to make the argument irrelevant sometime over the last half decade
  - flatiron 5y ago
    its not an argument against bitcoin at all. go walk into a starbucks with a gold bar. it certainly has value. they certainly want to give you coffee for value. it's just not the write medium. bitcoin is gold bars. not ready for retail but certainly ready for a hold of value. nothing wrong with that.
    - vmception 5y ago
      the point is that the user experience is not accurate so no rationale for it is relevant either many merchants take 0 confirmations with payment processors or use lightning network or use a faster blockchain
      - flatiron 5y ago
        If you take 0 confirmations you will get what you deserve. For the others I have no comment as they aren’t currently viable.
        vmception 5y ago
        Yeah no different than a merchants other electronic payment solutions except maybe being cheaper for the merchant
- hanselot 5y ago
- ushakov 5y ago
  you can use Lighting Network which is a payment processor like VISA on top of Bitcoin
- danlugo92 5y ago
  http://www.endthefud.org http://www.endthefud.org
throwawaygh 5y ago
It's apples and oranges for a two reasons: 1. VASTLY different definitions of "uptime". A credit card POS terminal that required minutes or hours per transaction would be considered defective. If we measure Bitcoin's uptime by typical performance requirements for a CC processing system, Bitcoin has had 0.0 seconds of uptime since inception. 2. Bitcoin has no SLA. If it goes down you have no recourse. If your transaction does not post within N seconds, you have no recourse. If you transaction posts but is later not recognized by the network, you have no recourse.

flatiron 5y ago

You can buy goods and materials with visa though. Not sure people want to wait 30 minutes to buy a cup of coffee with bitcoin.

vmception 5y ago
2016 called and wants its arguments back
- recursive 5y ago
  Is the argument less valid because someone made it in 2016?
  - vmception 5y ago
    Its less valid because the state of the network has changed to make the argument irrelevant sometime over the last half decade
- flatiron 5y ago
  its not an argument against bitcoin at all. go walk into a starbucks with a gold bar. it certainly has value. they certainly want to give you coffee for value. it's just not the write medium. bitcoin is gold bars. not ready for retail but certainly ready for a hold of value. nothing wrong with that.
  - vmception 5y ago
    the point is that the user experience is not accurate so no rationale for it is relevant either many merchants take 0 confirmations with payment processors or use lightning network or use a faster blockchain
    - flatiron 5y ago
      If you take 0 confirmations you will get what you deserve. For the others I have no comment as they aren’t currently viable.
      - vmception 5y ago
        Yeah no different than a merchants other electronic payment solutions except maybe being cheaper for the merchant
hanselot 5y ago
ushakov 5y ago
you can use Lighting Network which is a payment processor like VISA on top of Bitcoin
danlugo92 5y ago
http://www.endthefud.org http://www.endthefud.org

throwawaygh 5y ago

It's apples and oranges for a two reasons: 1. VASTLY different definitions of "uptime". A credit card POS terminal that required minutes or hours per transaction would be considered defective. If we measure Bitcoin's uptime by typical performance requirements for a CC processing system, Bitcoin has had 0.0 seconds of uptime since inception. 2. Bitcoin has no SLA. If it goes down you have no recourse. If your transaction does not post within N seconds, you have no recourse. If you transaction posts but is later not recognized by the network, you have no recourse.