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Google "Lightning Network". It allows for "off-chain" transactions that aren't included in the "7 tx/sec" limit.

• chasil 3y ago
  The Lightning Network is in the Wiki's Stage 2 section: https://en.wikipedia.org/wiki/Bitcoin_scalability_problem#%22Layer_2%22_systems https://en.wikipedia.org/wiki/Bitcoin_scalability_problem#%2... "The Lightning Network requires putting a funding transaction on the blockchain to open a payment channel." Now, if we put the whole world on Bitcoin, how long does it take to open that channel? Days?
  • msgilligan 3y ago
    Valid point, but we are decades away from putting the whole world on Bitcoin. In those intervening decades lightning alternatives and/or derivatives will likely be developed that can allow the entire world to use Bitcoin.
    • kylebenzle 3y ago
      Yes, LN is a pretty dead idea from first principals since Blockstream hijacked the GitHub repo. But of course LN makes no sense if you just did what Satoshi said and incrementally increase the block size as needed, but then of course Blockstream cant sell you their SideChain(tm) products. The whole thing became really convoluted and dumb once Adam Back got involved.
      • sMarsIntruder 3y ago
        You should’ve started the discussion stating your personal drama with Adam Black so we wouldn’t waste our time.