Bitcoin

Bitcoin moves $ 500,000 around the world every second, says Samson Mow

Mowing Samson from Block stream wants the conversation to move away from Bitcoin’s (BTC) performance in transactions per second and closer to its role in the Beginning of a “new financial paradigm”that is, to serve as a “permissionless” medium for the storage and transfer of value.

Mow’s argument is that What really matters is “the VPTS [valor de transacción por segundo], not TPS [transacción por segundo]””. According to reports, The calculations for the video were done using chain data from the technical blog editor Blockstreamwho calls himself “Grubles” on Twitter. The editor tweeted that too “Bitcoin scales very well. 1 BTC can store an infinite amount of value”.

The video after a Follow up tweet from Mow, “was inspired by a stupid XRP marketing video comparing TPS [transacción por segundo] of your sh * tcoin with that of Bitcoin. “

Bitcoin moves $ 500,000 around the world every second, says Samson Mow
Bitcoin moves $ 500,000 around the world every second, says Samson Mow

The data from Blockchain.com show that from December 1st, The total estimated value of transactions on the Bitcoin blockchain network was $ 4.627 billion. That number hit $ 5.15 billion on Nov. 5, close to its all-time high.

Estimated total value of transactions on the Bitcoin network, 2008-2020. Source: Blockchain.com

TPS has long been presented as a supposed Achilles heel for Bitcoinwhose capacity reaches a lower threshold than competing coins such as Ether (ETH). This is especially the line that Bitcoin Cash (BCH) evangelists like Roger Ver, promoting the asset as a better currency to introduce in retail on small transactions.

Mow’s line on Bitcoin was consistent and argued so Those interested in everyday transactions can use second-layer solutions like Lightning Network. Bitcoin itself, he says, has a completely different purpose::

“It is more of a store of value and a means of transferring wealth. It’s not something you would use to make payments every day. I’ve said this before and people have interpreted that I hate bitcoin, but bitcoin is not good for payments. “

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