Is Bitcoin Too Slow?

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In this video, I discuss whether Bitcoin is too slow to be global money. I conclude that it is not too slow. Bitcoin's throughput is approximately the same as FedWire, which currently functions as the global settlement layer for the US dollar.

People who tell you that Bitcoin is too slow almost always have an altcoin that they want to sell you instead.

Want a faster base layer solution than Bitcoin? You'll have to give up on decentralization and neutrality and settle for a more centralized solution, which brings with it the possibility of censorship and capture.

The Bitcoin blockchain is becoming the new global money settlement layer, equivalent to FedWire today-- or moving physical gold around using boats and trains and planes under the gold standard.

Money always scales in layers, just as Bitcoin is scaling from on-chain to higher layers like the Lightning Network and fedimints.

Not investment advice! Consult a financial advisor.

BSV market cap:

BTC market cap:

BSV tps chart:

BTC tps chart:

BSV blockchain size:

BTC blockchain size:

FedWire annual stats:

US dollar is a melting ice cube:

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
#crypto

Disclaimer

[Bitcoin_University]

WARNING: There are a number of scammers who are using my image and channel name to try to connect with my viewers on WhatsApp and other platforms to scam them. Just so you know, I will never refer you to "my personal trader" or try to connect with you personally to sell you something. I am trying to ban these scammers as quickly as they pop up. You can always recognize a scammer by clicking on the image and seeing how many videos he has. All of these guys have zero videos, while I have hundreds. I also now have a checkmark next to my name, so that you can distinguish the real Bitcoin University from the imposters. Follow me on Twitter @mattkratter

[Splinter]

Your material is always great. One of the few channels where I’ll watch every post. Keep at it. 👍

[stephaniukj]

Happy 1 year anniversary of Bitcoin University🎉

Thank you for all your hard work, Matthew. This channel has been a huge part of my Bitcoin journey and I orange-pill folks with it a lot. Many more years of continued success and winning.

[edwarddurrans]

I think it would be good for you to make another video about leaving tips in Bitcoin. That video was awesome!

[Johntron]

Excellent explanation, thanks Matthew!

[stevep.]

The “slow block time” argument to me seems like a litmus test to determine if someone has a solid understanding of Bitcoin. Unfortunately, the faster block time marketing gimmick seemed to work again for a lot of ship coins on the last cycle. Charlie Lee gets it, that’s why he dumped all his LTC.

Thanks for another great post sir!

[dunkdamonk]

I like to think Michael Saylor is listens to BTC Kratterisms to help him relax too

[ASICbeat]

Thx for another great Vid 🧡

Request: It would be awesome to hear your take on BTC in contrast or comparison to fine arts.

Art (crypto) isn’t scarce but fine art (btc) is. Both BTC and a Monet are a store of value simply because, collectively, we say it is. They have a similar amount of inherent value. Both are proof of work/time.

Even if comparing BTC with art is rather silly, at least it’s less “toxic” and insulting to potential newcomers who either love Fiat or like gold.

[Telecasterfan]

I think Jimmy Buffett said it best when he sang, "BSV's just a fork of a fork, a fork of a fork, a fork of a fork of a failure."

[DovGordon]

"...keep $10 in the custodial wallet at a time." And you move it from the base layer? That would be very expensive. What am I missing?

[Perezosos]

😂 nice title. Before understanding Bitcoin I taught it was. Now just living with the fact that I’m cannot keep up with it all 😂. Just learning as much a I can 😎.

Nice video. Matt.

[is]

"Proof of War" !! 😀😀 great sarcastic humor, which also probably reflects the truth. Loved it..

[MA-merm]

Hey Deceiver. You should debate Sir Toshi.

[johntherealestateman]

I took your advice on a cold storage wallet, but I’m a bit confused. What type of wallet should I use for small daily purchases?

[KulturKampf]

It’s the haters’ brains that are too slow.

[orpheusness]

I’m mostly all in on BTC but I’m impressed with Internet Computer Protocol. Very impressive what it can do

[TheGregcawthorne]

If the blocks are almost empty, can't they be trivially compressed?

[TheGamingCanadian]

1:22
I think the comment was referencing Teranode which is an upgrade that BSV will be going through, that will make BSV be able to handle 1M TPS, still on test net

[ktk]

Litecoin (LTC) is leading on bitpay in terms of transactions vs all other cryptos including Bitcoin. I’m curious what your thoughts are on this. Is there any particular reason people prefer this method over more popular cryptos like ETH and BTC? Thanks!

[maxxsee]

your arguments doesn't appear to be very well thought out.
The argument that the avg TSP of BTC comes out about the same as current bsv is not really what it's about, since the chain needs to support the high amount of transactions needed at any point, so why even bring that up?
Secondly, no it's not being used currently, but if it were to be used what then, that is the q. At a high load, how would they compare. You don't want to make a fair comparison it seems. The lightning network is an extra solution that bsv would allegedly handle without any extra solutions, isn't that better? You are welcome to inform why it would be worse.

For the record, I'm not endorsing any crypto.