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A comment on $365B wiped off cryptocurrency market after Tesla stops accepting Bitcoin. Parent comment

Re:$365B wiped off cryptocurrency market after Tesla stops a... by FabHK on Friday May 14, 2021 @05:15AM (#27152344)
> you get one transaction per five years

Isn't it per 89 years? So basically every person gets one transaction in their lifetime. (If we are generous and allow for 5 transactions per second, then everyone can make 2 transactions in their lifetime. Yay!) That is rather remarkable.

(1500 transactions/block * 6 block/h * 24 h/d * 365 d/y / 7e9 person = 1/89 transactions per person per year)

[ Parent | on HN ]
Re:$365B wiped off cryptocurrency market after Tesla stops a... by UncleMeat on Friday May 14, 2021 @09:16AM (#27153913)
I grabbed some page that claimed 7 transactions per second and also did the math wrong. Not sure how that happened.

This is the big reason why I don't buy the lightning network. It won't be possible for people to have a wallet that connects to some lightning hub, since opening and closing a connection requires an on-chain transaction. So it will be impossible for anybody other than the richest few to even possess a useful wallet. Everybody else will have bits in a database they don't control.

[ Parent | on HN ]