Re:Bitcoin Is Having a Civil War as It Enters a Critical Month
by jcranmer on Monday July 17, 2017 @03:17PM
(#14791505)
The standard financial example for blockchains is financial clearing, and the amount of money processed in these transactions is truly staggering. CHIPS alone processes $1,000,000 every minute.
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Re:Bitcoin Is Having a Civil War as It Enters a Critical Month
by buttershakes on Monday July 17, 2017 @04:30PM
(#14792039)
The metrics aren't very comparable though because of the way they work, mostly just mainframe apps I imagine. Blockchains are going to require a lot of engineering to get there.
Re:Bitcoin Is Having a Civil War as It Enters a Critical Month
by hudon on Monday July 17, 2017 @03:22PM
(#14791549)
Does CHIPS use a blockchain?
Re:Bitcoin Is Having a Civil War as It Enters a Critical Month
by princeb on Tuesday July 18, 2017 @01:16AM
(#14794368)
is this a rhetorical question meant to show that blockchain is not the appropriate tool for financial clearing?
Re:Bitcoin Is Having a Civil War as It Enters a Critical Month
by hudon on Tuesday July 18, 2017 @01:24AM
(#14794389)
Yep, and the history of R3 Corda is evidence of how "bitcoin as a clearing house between banks" is a pipe dream.
Bitcoin is almost 10 years old. We have enough data now to be able to build strong cases for what it's actually useful for. It is no longer sufficient to talk about what Bitcoin will do without talking about why it has not done so yet.