[Cryptography] Standards Trolls: Re: Bitcoin is a disaster.

Greg greg at kinostudios.com
Mon Jan 4 18:44:04 EST 2021


> On Jan 2, 2021, at 3:11 PM, Karl <gmkarl at gmail.com> wrote:
> 
> Hey Ismail,
> 
>> We're talking about something which has between [4.7 .. 7] TPS globally. I
>> wrote a range because, nobody knows the exact number. But those are actual
>> numbers. Some people claim there are system who can do better. How much
>> better? x100? x1000? x1,000,000,000?
>> "If you really think it's scalable and enough secure. Don't talk. Just do
>> it and show us! For real life scenario".
> 
> Just to relate some more, I think the pro-bitcoin people simply don't
> worry about this.  I don't think anybody ever imagined that bitcoin
> would grow in popularity as fast as it did, and the protocol simply
> was designed for a smaller scale for a longer time, before invested
> parties did the research to upgrade it, because of the value it held.
> That's mostly happening in altchains.
> 
> I googled this quick.  Looks like altchains are claiming up to about a
> million, generally more like tens of thousands, TPS.

I honestly don’t understand the confusion in this thread about Bitcoin.

Bitcoin is supposed to have a small TPS.

That is by design.

If it didn’t have a small TPS, it wouldn’t work, and wouldn’t fulfill its purpose.

The same goes for all blockchains, regardless of consensus protocol. See the DCS Theorem [1].

If you want high TPS with Bitcoin, use Lightning Network. Most Bitcoin activity should happen there, not on the main chain.

That has an ~infinite amount of TPS.

Cheers,
Greg

[1] https://arxiv.org/abs/1801.04335


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