this post was submitted on 02 Feb 2024
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TPS metrics of the most popular blockchains
As a global payments network Visa has the capacity to execute more than 65,000 transactions per second.
Yes but 65000 TPS for Bitcoin would likely have the planet glowing much brighter in the infrared... possibly even the visible, for all the heat we'd need to dump.
A rich, warm, and sterilized world!
It's still wasted energy. If it wasn't used on bitcoins, it would have been used on other things - some of which had to be powered by fossil fuels.
How does that even make sense? Renewable is cheaper than burning petrol, of course there's a shortage.
I don't think you understand how the electric grid works if you say that wasting energy into creating heat is the way to go.
It may very well be renewable. I'm really more referring to the inefficient way in which the sums are calculated. Those data centers get warmish.
And yeah, AI is just the next thing we decided to punish our GPUs with. Crazy how we've used that part of the computer these last few decades...
I'm more engaged in a chat gpt session that I am staying up till 4 am watching line graphs of crypto prices, guilty as charged 😁. Not sure what comment it makes about society other than "we seem pretty lonely, everything ok?"
Isn't that still an order of magnitude less than what Visa can do? Or is there some extra math involved that I don't know about
Where are you getting the TPS report for the Lightning Network? I thought its theoretical max TPS was in the millions.
Oh nice, that's how high Solana's TPS has gone in testing (in practice it hovers around 5-10k TPS). There's also newer chains like Aptos that claim to be able to handle 150k TPS with subsecond finality. Of course, neither of these chains are very decentralised, but at least they aren't fully permissioned and centralised. Especially on a network belonging to a partisan, anti-competitive, anti-trust law-breaking, Wikileaks funding thieving Israel supporters like Visa.
And of course we can rest assured that nobody profiting off bitcoin is morally questionable
Ah yes, Bitcoin bad because some people that use it are bad, how did I never think of that
I’m not saying that, rather I’m saying that I don’t see how either thing is clearly morally superior.
Bitcoin is open-source software, a network of nodes running Bitcoin core, the source code for which you can find here: https://github.com/bitcoin/bitcoin
Morals are a consequence of free will, which Bitcoin does not have. There are valid moralistic concerns about Bitcoin, but they are related to the impact of Bitcoin, rather than whether it is a moral system.
General question, because I don’t give a shit about blockchain to research it.
Does it have a way to quickly and effectively handle fraud? And don’t tell me “there’s no way to commit fraud” because people can steal wallet passwords no fucking problem. With most banks they will actively track fraud, cancel those transactions, and restore your funds and possibly shut down the card automatically while still allowing the account to exist so you can access your money. Is that the case with blockchain?
It depends on whether you're interacting with the blockchain directly, or via a custodial solution more appropriate for end consumers. Same like how you don't get a refund if you operate a western union branch and fuck up the wire.