Quote from: NorrisK on June 03, 2015, 03:28:01 PM

Quote from: Bittings on June 03, 2015, 11:51:43 AM

Quote from: tyz on June 03, 2015, 10:57:57 AM

Quote from: el kaka22 on June 03, 2015, 10:44:52 AM

Hope that in the near future, the network can produce 2 txs per second (172800 txs per day).

This could be just an intermediate stage. If Bitcoin wants to become a real competitor as a payment processor for mainstream it must be process more Txs per seconds. For example, Visa and Mastercard process 7 txs on average. This should be the goal midterm.

I think your rate is wrong according to ECB report Mastercard processes more than 1000 tx/second and VISA process ~2500 tx/second. (Mastercard : 93578 txs/day ; VISA: 212603 txs/day)

So there are too much way for Bitcoin to reach that point. And this also requires more hashing power , more electricity and more cost for mining BTC. And this results increase in price when everything goes smoothly. I think Bitcoin is settling down. I dont care why the price of it is so low.

Unless a day has 100 seconds your tx/second or tx/day are not possible. They don't add up. Feels like the tx/sec re a bit high to me.

yeah the math doesnt even come close to adding up, maybe those are the record numbers for the highest rate of transactions per second? the transactions/day does seem alright though.