Re: Was Satoshi Nakamoto visionless?

Quote from: seoincorporation on September 20, 2018, 01:56:45 PM

I'm not sure if satoshi makes bitcoin as an alternative payment system, or with the intention to create the best and most used payment system, but this second option is impossible by the bitcoin nature and i will explain why.

If bitcoin want to become the #1 transactions and payment system it would have to be really more powerfull. If we compare the daily transactions banks vs daily transactions bitcoins, then you will understand why i call satoshi visionless:

Quote

Mastercard maintains 99.999 % availability and can process 3.4 billion transactions per day at 38,000+ transactions per second, with an average response time of 140 milliseconds.

Visa is at 24,000 TPS

https://www.quora.com/How-many-transactions-do-typical-banks-process-everyday

TPS: Transactions Per Second.

While bitcoin have blocks each 10 minutes with 2500 transactions aprox, that give us an averange of 4 TPS.

We are far away to compete with banks, bitcoin by it self is not able to handle all the transactions the world have, so, maybe is good time to think about the next steps, and get some big goal like substitute banks with btc. But no one say it would be easy Tongue

Bitcoin is not only crypto,we have almost 1800+ crypto currencies at the moment some have better properties than bitcoin so we can handle all the world's transaction with cryptos but not only with the bitcoin so in future new cryptos will evolve and people will start uses the appropriate cryptos for their needs.