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The one system is providing sustenance for billions of people, the other is used by tens of thousands of people. As is always forgotten to mention when this arg
by cedilla 4y ago
The one system is providing sustenance for billions of people, the other is used by tens of thousands of people. As is always forgotten to mention when this argument is made.
But this is an even worse argument than usual - the people speculating with crypto constructs are very often also part of the groups who consume a whole lot of meat...
- mrb 4y ago"tens of thousands of people" You are off by 3 orders of magnitude. Bitcoin alone validates 7 million transactions monthly. If there were only 50k users, an average user would be sending 140 transactions per month.
- htlion 4y agoWhat about trading and wash sales? Would not that make the average very high? I have no numbers so I can't say more, but 140 transactions per month per user doesn't sound that high considering the above.
- nybble41 4y agoMuch of that trading will happen off-chain using local accounts on some exchange and thus not contribute to the transaction count. Only the deposits and withdrawals require on-chain transactions.
- salawat 4y agoThe average centralized financial processor can process that many transactions in about 10 seconds, with the option of reversal, You are not making a great case here.
- mrb 4y ago"in about 10 seconds" Patently false. For example an "average" processor like Western Union processes only 25 million transactions monthly. "with the option of reversal" Which is the whole problem. Bitcoin is irreversible, by design. That's crucial.