Post
Topic
Board Bitcoin Discussion
Re: If Satoshi was a "genius", then why do BTC transactions take so long?
by
bl0ckchain
on 21/03/2014, 01:31:09 UTC
I Love BTC, but any honest look has to reveal that the transactions take WAY to long.
Did Satoshi ever comment on why he used ~10 minutes per block and/or did he consider a much lower number?
If he did, I haven't seen it before.

Satoshi was a genius, actually he was a genius's genius.

It was not his intention to leave the World with his famous last words of "there are still more ways to attack than I can count." He still had a lot of work to do, and if the transaction times had needed adjustment, he would have done so. But remember, times have changed a great deal since 2010. What was best then, is not necessarily what is best now.

Unfortunately, he and Gavin had a major disagreement. Satoshi wanted to remain secretive and independent of government, and Gavin felt it was necessary to cooperate and openly communicate with the federal government. The day Gavin told him he was going to talk to the feds was the day Satoshi vanished into thin air.

Miraculously, another equally talented young developer appeared on the scene recently, who has begun the process of picking up where Satoshi left off. With his own coin, he reduced the transaction times as you suggested, completed the 51% defense, and continues to this day to work at perfecting the beautiful but unfinished code of Satoshi.