AZwarel
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June 16, 2016, 02:57:42 AM

None ever mentioned money velocity in respect to tx/sec and blocksize arguments. It does not matter up until a point if you get confirmation in the next block, or tomorrow (unless you want to spend the same utxo in a short time cycle again) if you will not spend that anyway for weeks (the velocity is unlinked with actual tx/s).

If i pay my coffee, i do not care anymore if it would take 10 mins or 10 days, and most likely the coffee shop owner neither, for his got 100/day incoming txs, and he only has to pay suppliers a few times/month. So the actual economic activity that Bitcoin today can serve is way more than a mere 7tx/sec imo.

Not to mention, once in the mempool with "enough" fee, the receiver can be sure to have those bitcoins in a few hours, max days, but never have to deal with charge backs, unlike credit cards (obviously up until a point which we are faar away yet)!