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

[John Levine]

>On Sunday, January 10, 2021 6:45 PM, John Levine <johnl at iecc.com> wrote:
>> Reality check: ...

>> Bitcoin as we all know is limited to 10tps. Credit card networks
>> handle about 11000tps all day every day. It's three orders of magnitude
>> higher.
>
>Not all day every day.  You are comparing the burst rate on visa with the steady rate on bitcoin.  It is more like two and half orders
>of magnitude higher.

No, that's the average rate now, about a billion transactions per day.  The peak
is something like four times that.

>> > will need a crypto coin that enables seven billion people to buy a lollipop.
>
>> No kidding. I'm not holding my breath, although in Africa M-Pesa comes surprisingly close.
>
>I have, on paper, a design that can support visa volume transactions at on a moderately well connected computer.  It is yet another
>variant of one of many blockdag designs that can also support visa volume transactions on a moderately well connected computer.  I think
>my design will be somewhat more efficient, but at present there is no valid comparison data.  We are not short of designs on paper.

I expect we'd all like to see it.