Re:Bitcoin: the Stripe perspective
by mrb on Monday July 21, 2014 @07:39PM
(#8066670)
Bitcoin can scale: https://en.bitcoin.it/wiki/Scalability Key quotes: "we will not run out of CPU capacity for signature checking unless Bitcoin is handling 100 times as much traffic as PayPal [100 * 40 tps]", "bandwidth [for handling 2000 tps] is already common for even residential connections today".
Bitcoin already handles more volume than Xoom: http://www.coinometrics.com/bitcoin/btix and is on its way to surpass Western Union. Western Union does merely 600k transaction/day. Bitcoin hovers around 65k/day right now and it can do 600k/day if the artificial block limit is raised from 1MB to 2MB (it will happen at some point).
Bitcoin already handles more volume than Xoom: http://www.coinometrics.com/bitcoin/btix and is on its way to surpass Western Union. Western Union does merely 600k transaction/day. Bitcoin hovers around 65k/day right now and it can do 600k/day if the artificial block limit is raised from 1MB to 2MB (it will happen at some point).