Is Bitcoin Just Too Slow?

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In this video, I compare the Bitcoin network's throughput and TPS (transactions per second) to Visa, Fedwire, Solana, and XRP.

The Bitcoin network is a final settlement layer like Fedwire. Comparing it to Visa, where transactions can be reversed 75-120 days later, is an inaccurate comparison.

Bitcoin has done about 3 transactions/second over the past year, while Fedwire has done about 9 transactions/second.

The biggest difference is that Bitcoin cannot be debased or printed or frozen, and the Bitcoin network is permission-less and open to everyone 24/7-- unlike Fedwire.

Bitcoin can continue to scale by increasing the fiat value of each transaction, and by utilizing Layer 2 solutions like the Lightning Network, which can do 1 million transactions/second.

Not investment advice! Consult a financial advisor.

Bitcoin daily transactions chart:
https://www.blockchain.com/charts/n-transactions

My favorite Bitcoin dashboard:
https://bitcoin.clarkmoody.com/dashboard/

Fedwire annual stats:
https://www.frbservices.org/resources/financial-services/wires/volume-value-stats/annual-stats.html

Solana Billionaire VC's Are Laughing At You:
https://www.youtube.com/watch?v=nBHH0k8EOHE&ab_channel=TraderUniversity

Solana Labs getting sued:
https://www.coindesk.com/policy/2022/07/06/solana-labs-multicoin-accused-of-violating-securities-law-by-sol-investor/

Bitcoin 2021 settlement value:
https://bitcoinmagazine.com/markets/bitcoin-most-efficient-value-settlement-network

Lightning Network TPS:
https://bitpay.com/blog/what-is-the-lightning-network/

I am not being paid or otherwise compensated by any company or cryptocurrency project that I mention in my videos.

My opinion is not for sale. Please do not contact me with any affiliate or advertising deals.

#bitcoin
#cryptocurrency
#fed

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