Bitcoin is Slow
The Bitcoin Blockchain is extremely slow. The block confirmation time in Bitcoin is 10mins on average and lots of sites will make you wait 3-6 confirmations before accepting your payment as valid. go ahead try and buy something using bitcoin on a retail site and you will experience the horror that is waiting up to hour(s) for your transaction to confirm. This is entirely due to the block size limit of 1 megabyte and the 10 minute block time which the core developers have been hesitant on changing for years. Bitcoin does 7 transactions per second while Visa is capable of 65,000. Bitcoin could not handle the largest mobile game (Clash Of Clans) economy let alone the entire world or a nations.
The Bitcoin Blockchain is extremely slow. The block confirmation time in Bitcoin is 10mins on average and lots of sites will make you wait 3-6 confirmations before accepting your payment as valid. go ahead try and buy something using bitcoin on a retail site and you will experience the horror that is waiting up to hour(s) for your transaction to confirm. This is entirely due to the block size limit of 1 megabyte and the 10 minute block time which the core developers have been hesitant on changing for years. Bitcoin does 7 transactions per second while Visa is capable of 65,000. Bitcoin could not handle the largest mobile game (Clash Of Clans) economy let alone the entire world or a nations.