BTC Price Crash Scalability comes to the fore as Transaction Network Fees Skyrocket
Today I experienced first hand experience in the fundamental flaw in Bitcoin.
The Bitcoin network can only handle 7 transactions a second. With prices plummeting to a 3-day low of $2,030 network transaction fees skyrocketed as BTC sellers were running to the doors.
Transferring £4.92 worth of BTC from my Breadwallet to an exchange cost £6.4 in BTC network fees.
Ethereum is slightly better currently able to handle about 15 transactions per second but no where close to Steem which can handle 1,000s of transactions per second and Ripple of over 1,000 transactions per second.
Is it not time for Steem to shine?
Solid post. I've been talking about this a bit myself.
thanks buddy
Following you now.
Now is the time for steem to shine, with low fees and steemit changing lives. perhaps its time to invest more.
steem on
The ultimate winners will be the ones that changes consumers lives. Agree - love steem as evident immediately and fantastic interface.
Bummer you had to deal with that.
I'm holding my BTC for now.
Yes I still have my BTC holding as believe in the long-term uptrend of the crypto currency asset class.
Certainly others will rally too
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