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> the delay that batched settlement represents Bitcoin transactions can take anywhere from 10 minutes to upwards of 16 hours for minuscule volumes of transacti
by falcolas 5y ago
> the delay that batched settlement represents
Bitcoin transactions can take anywhere from 10 minutes to upwards of 16 hours for minuscule volumes of transactions. It's not solving that problem for certain.
> extremely costly
The cost is built into the transactions. Just like it is with blockchain transactions. Now then, which has higher per transaction costs?
- legutierr 5y agoAssessing the future prospects of blockchain technology based on the performance characteristics of Bitcoin is like assessing of the future prospects of general computation based on the performance characteristics of the UNIVAC III. As a factual matter, settlement costs are not fully embodied by transaction fees, and include such things as, for instance, financing and opportunity costs and the cost of supporting an organization that is more complex than it otherwise needs to be. If settlement delays were entirely eliminated, new business models would emerge that are not even possible under the current regime.