I read somewhere that Bitcoin can only handle 7 transactions per second. This works out to 604,800 transactions per day. Visa currently processes about 1,700 transactions per second (and can handle vastly higher amounts than this). This means that the Bitcoin system can handle less than 1/200 of Visa’s current processing output.
Is this correct? I find it hard to believe that so many people would buy into a system that’s so inefficient / unscalable.
Also, if my assumption is correct, suppose there are (on avg) 700 transactions per second during a given 10 min period (i.e, 70 times the max output rate) does this mean we will need to wait 70 * 10 min for all those transactions to be confirmed? If yes, why can’t some evil actor overwhelm (i.e, postpone) the system by submitting thousands of tiny transactions to the network?
Thanks in advance
✓ Extra quality
ExtraProxies brings the best proxy quality for you with our private and reliable proxies
✓ Extra anonymity
Top level of anonymity and 100% safe proxies – this is what you get with every proxy package
✓ Extra speed
1,ooo mb/s proxy servers speed – we are way better than others – just enjoy our proxies!
USA proxy location
We offer premium quality USA private proxies – the most essential proxies you can ever want from USA
Our proxies have TOP level of anonymity + Elite quality, so you are always safe and secure with your proxies
Use your proxies as much as you want – we have no limits for data transfer and bandwidth, unlimited usage!
Superb fast proxy servers with 1,000 mb/s speed – sit back and enjoy your lightning fast private proxies!
99,9% servers uptime
Alive and working proxies all the time – we are taking care of our servers so you can use them without any problems
No usage restrictions
You have freedom to use your proxies with every software, browser or website you want without restrictions
Perfect for SEO
We are 100% friendly with all SEO tasks as well as internet marketing – feel the power with our proxies
Buy more proxies and get better price – we offer various proxy packages with great deals and discounts
We are working 24/7 to bring the best proxy experience for you – we are glad to help and assist you!