Re:Nvidia LHR Lock Officially Cracked Bringing Full Crypto M...
by mrb on Monday May 09, 2022 @04:02AM
(#31311689)
"tens of thousands of people"
You are off by 3 orders of magnitude. Bitcoin alone validates 7 million transactions monthly. If there were only 50k users, an average user would be sending 140 transactions per month.
Re:Nvidia LHR Lock Officially Cracked Bringing Full Crypto M...
by htlion on Monday May 09, 2022 @04:30AM
(#31311815)
What about trading and wash sales? Would not that make the average very high?
I have no numbers so I can't say more, but 140 transactions per month per user doesn't sound that high considering the above.
Re:Nvidia LHR Lock Officially Cracked Bringing Full Crypto M...
by nybble41 on Monday May 09, 2022 @01:45PM
(#31317297)
Much of that trading will happen off-chain using local accounts on some exchange and thus not contribute to the transaction count. Only the deposits and withdrawals require on-chain transactions.
Re:Nvidia LHR Lock Officially Cracked Bringing Full Crypto M...
by salawat on Monday May 09, 2022 @09:42AM
(#31313880)
The average centralized financial processor can process that many transactions in about 10 seconds, with the option of reversal,
You are not making a great case here.
Re:Nvidia LHR Lock Officially Cracked Bringing Full Crypto M...
by mrb on Tuesday May 10, 2022 @04:22AM
(#31324770)
"in about 10 seconds"
Patently false. For example an "average" processor like Western Union processes only 25 million transactions monthly.
"with the option of reversal"
Which is the whole problem. Bitcoin is irreversible, by design. That's crucial.
But this is an even worse argument than usual - the people speculating with crypto constructs are very often also part of the groups who consume a whole lot of meat...