Post
Topic
Board Economics
Re: About real state of cryptos
by
Hydrogen
on 27/03/2018, 23:05:44 UTC
Hi all. What do you think about this idea - is it possible to actually use crypto for daily payments?

The largest impediment to bitcoin being utilized for daily payments appears to be transaction speed and throughput. Crypto's limited transaction rates and transfer fees may be two of the largest obstacles to the technology being embraced and aside from volatility, probably two of the main criticisms against crypto.

But not to worry. We might fix this.  Smiley

Bitcoin's theoretical maximum transfer rate amounts to around 4 transactions per second. There are critics who claim this technology can't scale. Well, here's one potential solution to scaling bitcoin. We could take bitcoin and make 1,000 different altcoin spinoffs from it. Each altcoin could achieve 4 transactions per second, giving us a total of 4,000 transactions per second to work with.

Maybe this is a dumb idea, I don't know. But all of these altcoins and spamcoins could be good for something after all?