Re:Bitcoin not for me, says Bill Gates
by CyberDildonics on Friday February 26, 2021 @10:26AM
(#26275663)
> big blocks centralize
This math never checks out. I see this said and no one can ever show me numbers where it makes sense.
900KB Every 10 minutes is the actual throughput. This works out to 47.3GB per year.
For the cost of -5 transactions-, you can buy a hard drive that will last -184 years- before it fills up. The only people that even need the full chain are miners, exchanges and online wallets.
5 transactions -> enough space to store the current throughput for 184 years. $31 average transaction fees make bitcoin useless for anything other than speculation.
Bitcoin Cash already sustains more transactions than bitcoin. Ethereum has 3x the transaction throughput consistently. What math are you doing where you think any of this is a problem?
This math never checks out. I see this said and no one can ever show me numbers where it makes sense.
900KB Every 10 minutes is the actual throughput. This works out to 47.3GB per year.
For the cost of -5 transactions-, you can buy a hard drive that will last -184 years- before it fills up. The only people that even need the full chain are miners, exchanges and online wallets.
5 transactions -> enough space to store the current throughput for 184 years. $31 average transaction fees make bitcoin useless for anything other than speculation.
Bitcoin Cash already sustains more transactions than bitcoin. Ethereum has 3x the transaction throughput consistently. What math are you doing where you think any of this is a problem?