[Cryptography] the people's money, not, was Proof of Work is the worst way to do a BlockChain
Ersin Taskin
hersintaskin at gmail.com
Mon Feb 26 07:17:44 EST 2018
2018-02-25 2:07 GMT+03:00 John Levine <johnl at iecc.com>:
> In article <ebc92a93-8106-5457-432e-5437fb174d2b at echeque.com> you write:
> >There are things terribly wrong with Satoshi's design. It hitting
> >scaling limits hard. But it revealed huge demand.
>
> Uh huh. I did a back of the envelope calculation about how many
> people you can pay with Bitcoin compared to how many you can pay other
> ways.
>
> https://jl.ly/Internet/bitsome.html
>
> R's,
> John
>
True. Please google to see that the number of Bitcoin wallets and addresses
are so low that we can conclude Bitcoin is negligibly adopted in comparison
to fiat currencies. Trader statisticians I know tell me that we can safely
say Bitcoin is not adopted. The world population is 7 Billion. Those who
have Internet connection is Billion scale. What is the number of people who
use Bitcoin? Calculate the percentage to see that it starts with 0.
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