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Author Topic: Bitcoin Blockchain Transactions Per Second  (Read 217 times)
MiliMil (OP)
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March 18, 2023, 05:08:28 PM
 #1

The Bitcoin Blockchain can only process around 5 Transactions Per Second (TPS) give or take.
When you compare this to VISA which has a TPS rate of 2000+ it seems very low.
If Bitcoin is going to become mainstream in the future the TPS needs to increase greatly.
Is there a way to increase the scalability whilst also maintaining a high level of decentralisation?
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March 18, 2023, 05:13:58 PM
 #2

We already have the lightning network, which should be capable of handling way more transactions than Visa does:

https://twitter.com/Blockstream/status/1502115599874359297

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March 18, 2023, 05:25:16 PM
 #3

You should note that Bitcoin transactions are final, while fiat transfers through different channels are not, at the time when it reflects. This makes it a lopsided comparison to make.

That aside, there has been improvements over the years to scalability, with both off chain and on chain solutions, and there would be more in the coming years, while maintaining decentralization.

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March 18, 2023, 06:58:28 PM
 #4

One approach to scaling Bitcoin is through the use of layer two solutions such as the Lightning Network.
The Lightning Network is a second layer protocol that sits on top of the Bitcoin blockchain and allows for faster and cheaper transactions by using off-chain transactions that are settled periodically on the blockchain.
This approach can significantly increase the TPS rate while maintaining a high level of decentralization.

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March 18, 2023, 07:05:21 PM
 #5

One approach to scaling Bitcoin is through the use of layer two solutions such as the Lightning Network.
The Lightning Network is a second layer protocol that sits on top of the Bitcoin blockchain and allows for faster and cheaper transactions by using off-chain transactions that are settled periodically on the blockchain.
This approach can significantly increase the TPS rate while maintaining a high level of decentralization.

another approach would be the use of Side Chains,   these are separate blockchains that are pegged to the main Bitcoin blockchain and allow for the processing of transactions in parallel.
Sidechains can be used for specific use cases, such as smart contracts or asset tokenization, and can help to reduce the load on the main Bitcoin blockchain while maintaining decentralization.

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March 18, 2023, 07:22:39 PM
 #6

Bitcoin transaction cannot be compared with a centralized institutionizations that has to go through various channels before getting confirmed unlike bitcoin, the transaction charges is another benefit we take advantage of from bitcoin transaction which is fare enough cheaper and faster, scalability challenges could also be evaded through the bitcoin lightning network under the layer 2 protocols.

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March 18, 2023, 07:31:50 PM
 #7

someone makes a topic about BITCOIN BLOCKCHAIN

and the usual tribe of alternative network adorers come in and advertise other networks

oh and lightning has a liquidity bottleneck problem that only gets worse the more popular it gets

other alternative networks will come about some that direct bridge to bitcoin and only bitcoin as the "layer2" proposition. but some will just be for niche utility. and small value amounts. and others will bridge to multiple mainnets of multiple blockchains.

but lightning is not one that will cope with mass adoption to pay anyone without middlemen

I DO NOT TRADE OR ACT AS ESCROW ON THIS FORUM EVER.
Please do your own research & respect what is written here as both opinion & information gleaned from experience. many people replying with insults but no on-topic content substance, automatically are 'facepalmed' and yawned at
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March 18, 2023, 07:51:17 PM
 #8

The Bitcoin Blockchain can only process around 5 Transactions Per Second (TPS) give or take.
Prove it. The last article I read some months ago stated that bitcoin can process seven transactions per second. If you have big transactions to make, you can make use of the onchain network.

With lightning network, scalability issue is solved to an extent, but using lightning network for only small transaction amount is advisable.

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March 18, 2023, 08:16:19 PM
 #9

The Bitcoin Blockchain can only process around 5 Transactions Per Second (TPS) give or take.
Prove it. The last article I read some months ago stated that bitcoin can process seven transactions per second. If you have big transactions to make, you can make use of the onchain network.

With lightning network, scalability issue is solved to an extent, but using lightning network for only small transaction amount is advisable.

lightning has many scalability issues. they have liquidity problems in regards to routing which only get worse the more popular it gets

as for bitcoins tx/s
bitcoin does 2016 blocks a fortnight meaning 1 block every 600 seconds average
bitcoin only does about 2300tx a block

2300/600=3.83per second
3000tx a block would be 5tx/s


the 7tx/s was the "expectation" of the old 1mb limit and lean 226byte tx
but even at todays 4mb blocks it still is not getting much above 5tx/s

I DO NOT TRADE OR ACT AS ESCROW ON THIS FORUM EVER.
Please do your own research & respect what is written here as both opinion & information gleaned from experience. many people replying with insults but no on-topic content substance, automatically are 'facepalmed' and yawned at
MiliMil (OP)
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March 19, 2023, 03:33:30 AM
 #10

We already have the lightning network, which should be capable of handling way more transactions than Visa does:

https://twitter.com/Blockstream/status/1502115599874359297

I've read that lightning has liquidity issues though?
If true, that will be a problem as more consumers use the network.
MiliMil (OP)
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March 19, 2023, 03:37:03 AM
 #11

someone makes a topic about BITCOIN BLOCKCHAIN

and the usual tribe of alternative network adorers come in and advertise other networks

oh and lightning has a liquidity bottleneck problem that only gets worse the more popular it gets

other alternative networks will come about some that direct bridge to bitcoin and only bitcoin as the "layer2" proposition. but some will just be for niche utility. and small value amounts. and others will bridge to multiple mainnets of multiple blockchains.

but lightning is not one that will cope with mass adoption to pay anyone without middlemen

Yes, I was talking about the BTC blockchain specifically.
Also, "It is not possible to receive any funds over the Lightning Network without first having secured receiving liquidity from someone else's node".
Is this accurate? This seems like a HUGE limitation. Any ideas if this can be remedied?
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March 19, 2023, 04:22:26 AM
 #12

The Bitcoin Blockchain can only process around 5 Transactions Per Second (TPS) give or take.
When you compare this to VISA which has a TPS rate of 2000+ it seems very low.
That is a useless comparison.

I don't want to use a payment method with a chargeback option. With VISA, it can be up to 120 days which would be a period I can sleep well.

If you paid with a Visa debit, credit or pre-paid card, a chargeback is an option. If you need to make a chargeback claim, make sure you do it within 120 days of purchase.

With Bitcoin, 3 confirmations are good to go and if it is a transaction with big amount, 6 confirmations are enough for me to be safe. 6 confirmations equal to about 1 hour that is much shorter than 120 days.

Choosing between two options, sleep well after 1 hour and can not sleep well within 120 days. Make your choice!

How many Bitcoin confirmations is enough?

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March 19, 2023, 03:33:46 PM
 #13

It seems that the community still has got mixed feelings. After so many years and we are still arguing about scalability issues. Like, one says we have low transactions, one says we can use a lightning network while some debate about the liquidity issues in a lightning network. I don't know but this definitely makes me think, bitcoin has not been developed properly nor has the issue been resolved fully.

The VISA, definitely we cant compare them with the bitcoin because let us face it, we are missing that piece of code that will make the original bitcoin faster or at least comparable to it. Let us face it, VISA is good thought their settlement is said to be real-time, the money transferred is netted after hours of time on the server but it works just fine!
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March 19, 2023, 03:50:25 PM
 #14

We already have the lightning network, which should be capable of handling way more transactions than Visa does:

https://twitter.com/Blockstream/status/1502115599874359297

I've read that lightning has liquidity issues though?
If true, that will be a problem as more consumers use the network.
There is still room for improvement, a possible BIP will be made soon for such kind of scalability issue.
Comparing bitcoin transaction to VISA's are irrelevant. Wait until most online services uses bitcoin as a form of payment, like what VISA is now.

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March 19, 2023, 04:11:38 PM
 #15

we are missing that piece of code that will make the original bitcoin faster

It's not just about code, it's about compromise.  Throughput has a cost.  Those who secure the chain have to bear that cost.  They have to store and relay the information contained and updated within the blockchain.  Even at the present rate of throughput, this cost increases all the time.  If you wish to increase throughput it subsequently means increasing the rate at which that cost increases.  If you run a node, you can have a small amount of influence over what level of throughput you are prepared to support.  When most nodes are prepared to support more throughput, then it can increase.     

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March 19, 2023, 08:13:41 PM
 #16

we are missing that piece of code that will make the original bitcoin faster

It's not just about code, it's about compromise.  Throughput has a cost.  Those who secure the chain have to bear that cost.  They have to store and relay the information contained and updated within the blockchain.  Even at the present rate of throughput, this cost increases all the time.  If you wish to increase throughput it subsequently means increasing the rate at which that cost increases.  If you run a node, you can have a small amount of influence over what level of throughput you are prepared to support.  When most nodes are prepared to support more throughput, then it can increase.      

nodes dont have influence ANYMORE.. thats the point of your favoured "backward compatibility" nodes dont need or get to vote anymore. things are pushed through without node mass agreement..
you have been promoting that feature for a while. so why pretend its the opposite now

you love how core decide without consent. you have been promoting that too how devs shouldnt be told what to do or be censored from doing things they want

you know deep down its core devs that control future decisions not user nodes. they shouldnt have gained that power. but you love that they have

YOU are the guy that doesnt want more transactions but loves the idea of 1 tx having 4mb of bloat in the form of a image file

hey if you think one image file being 4mb in 1 tx is fine for the network.. then please stop crying when others want 4mb of 8000tx, which you cry by saying/suggesting its bad for the network

we are not in the era of 1999 where computers are slow and cannot cope with it.
its 2023 computers can cope with more then you pretend they can

if you truly think 4mb of genuine utility of thousands of transactions(packets of data) is bad. then how come many many other data services to clients of different serves do not have a problem.. EG online gaming. livestreaming, torrents

i do laugh how you want blocks to have 1tx of 4mb but dont want 4mb of 8000tx

users dont have the choice because the only main dev of protocol level coding is core. thus everyone is WAITING and begging for CORE to allow more transaction count, becasue any other brand trying to do it will get REKT. and core as you know have a roadmap of wanting to push people off the network into other networks(you favour) as their plan.. and as you keep saying for the last 6 years "be patient" yet all of these topics over the years made by thousands of people wanting transaction scaling on bitcoin shows its not just a minority asking for more tx count onchain

stop pretending its user decision or user fault for no upgrades.. core have become the only party offering ability to upgrade and yet they are not offering the upgrades the people want and only offering upgrades corporations want(gateway formats to lock people into other networks for middlemen rewarding of facilitating payments)

I DO NOT TRADE OR ACT AS ESCROW ON THIS FORUM EVER.
Please do your own research & respect what is written here as both opinion & information gleaned from experience. many people replying with insults but no on-topic content substance, automatically are 'facepalmed' and yawned at
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March 19, 2023, 09:55:38 PM
 #17

nodes dont have influence ANYMORE.. thats the point of your favoured "backward compatibility" nodes dont need or get to vote anymore. things are pushed through without node mass agreement..
you have been promoting that feature for a while. so why pretend its the opposite now

Why don't you softfork a blocksize increase, then?  Troll.

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Cuenta Alternativa
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March 20, 2023, 04:59:19 AM
 #18

I am not concerned about the number of transactions. I think the current one is fine for use as a store of value. Whether mass use as a currency is given as a second layer solution and whether those solutions are more centralised or not is another matter.

I don't think bitcoin will ever come close to exterminating the rest of the fiat currencies and shitty altcoins, so it is normal that it will coexist at least for daily payments with these worse currencies and that people will prefer to use them, holding bitcoin over time.
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March 20, 2023, 08:47:16 AM
 #19


It depends on configuration of the LN channel. Some light LN wallet usually create LN channel with 0 receiving capacity in order to ignore risks of other party cheating (by releasing older state of LN channel). It can be remidied by using wallet which create LN wallet which specific amount of receiving capacity.

Thank you.
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March 20, 2023, 09:21:04 AM
 #20

nodes dont have influence ANYMORE.. thats the point of your favoured "backward compatibility" nodes dont need or get to vote anymore. things are pushed through without node mass agreement..
you have been promoting that feature for a while. so why pretend its the opposite now

Why don't you softfork a blocksize increase, then?  Troll.

you have no clue about hard or soft.. nor fork vs consensus

hard = rules
soft=lack of rules(backdoors)

fork=split the network via disagreement
consensus=unite the network via consented agreement

read things again and learn
nodes dont have influence anymore consensus has been softened by core

core dont need mass consent for their changes.. but users cant just stop it individually because they would just be rejecting blocks of their own node making themselves out of sync with the rest of the network

it would require the hardening of the consensus rules to be done via core and the masses.
in short a reverse of the mechanisms that caused the soft consensus.

which if a dev team outside of core tried such a proposal will 100% guaranteed be REKT by doomads flock of friends and idols

I DO NOT TRADE OR ACT AS ESCROW ON THIS FORUM EVER.
Please do your own research & respect what is written here as both opinion & information gleaned from experience. many people replying with insults but no on-topic content substance, automatically are 'facepalmed' and yawned at
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