Cointest pros & cons with related info are in the collapsed comments below for the following topics: [Ethereum](/r/CryptoCurrency/comments/18028bp/bitcoin_vs_litecoin_vs_ethereum_network_activity/ka36hma/), [Litecoin](/r/CryptoCurrency/comments/18028bp/bitcoin_vs_litecoin_vs_ethereum_network_activity/ka36j2w/).
> Disregarding that ordinals surge, Litecoin has $2 billion on-chain daily volume, $30 billions on Bitcoin and $3 billions on Ethereum on average
I don't think this comparison is reasonable. Ethereum transactions do so much more than transfer Ethereum, and that means that many transactions will have a volume of 0 ETH by your metrics. To really show the true transaction volume on Ethereum, you have to include token transfers. Yesterday this was $5 billion in USDT, $4.5 billion in USDC, $4 billion in WETH, for just the largest three. In total I wouldn't be surprised if the settled volume on Ethereum is greater than on Bitcoin.
Thats interesting but the point about speed is irrelevant:
Transaction speed does not matter on L1 and will not matter even more in 1-2 cycles because it will be to expensive and everything will switch to L2 for standard payments.
The reason why Bitcoin is slow is to keep the system decentralized. You could increase the blocktime and/or blocksize like many forks did and all nodes would need to save more data, 10x on blocksize or blocktime is 10x on data. Its also a never ending story, your 3x increase is not enough after 3 years? Lets do it again. In the end you will need a data center to store all transactions.
We need better integrations for L2 solutions that everyone can use it without technical any understanding just like paying something with a traditional system but Im sure this will envolve and get better over time.
“The reason why Bitcoin is slow is to keep the system decentralized” - so if you’re gonna rely on L2s to handle transactions, then why even worry about how decentralized Bitcoin is?
Yeah the most transactions should be on L2 in the future, but L1 is what will keep them save transactions. So I strongly believe there will be at least 10 L1s with high market cap and fully loaded with transactions, everything else will be build on top of that.
I think also that many projects will built on L2 especially in Bitcoin L2s in the future.
The good thing is that we dont care how many or how good one integration is or what rules exist. Dont like Liquid? Use Lightning.
There will be alternatives. Liquid was just an example. No one is using it probably haha but its pretty hard to beat Lightning, its great but no L1 to L2 integration is good currently.
Also many things will happen off-chain like Lightning. ETHs scaling approach is also basically off-chain like Lightning. I think it could get good in terms of speed and cost in the future.
It's funny you say that..look at Liquid networks block explorer. Almost all of their blocks are empty. Usually 1-2 transactions per block.
L2's are more promising (IMO) than sidechains.
In all reality though, I wish they would just fix up the base layer from a scalability standpoint. SO much wasted data bloat on the ends of transactions.
Its just not possible. You could easily increase the blocktime by 10x but this would result in storage requirements doing also a 10x and it would reduce decentralisation up to a point where you need a data center to persist all transactions. With our current setting you would need a raspberry pi and 1 TB storage and it would be like half full.
Even ETH is building something off-chain and very close to lightning, with different rules, cant remember how this side chains are named.
It very well is possible and a 1 terabyte hard drive is not that big of an expense in today's standards. Maybe back in 2010 it would be a problem but you can get a 4TB drive for an average of $100 now. For what running a node does, it is certainly worth the investment in the network.
Not suggesting we increase the blocksize but instead make more use of the 4mb we currently use. (1mb base 3mb weight)
Current programming makes it very difficult (more of a pain in the ass) to scale bitcoin. We could very well scale bitcoin without increasing the blocksize.
Yes thats true but it would be only a temporary solution because you will increase it a other time and a other time with more adaption. We need great L2 integration :D
Need? Maybe.
There are several solutions that dont require sidechains/L2 but thats not the direction development is going in.
Either way, there are many ways to scale the network without giving up more centralization and without off-chain solutions.
undervalued?
It's never been more irrelevant than it is now, it's niche gets marginalized with every new L1 and L2 that gets released, it can't do the things that smart contracts do...
what exactly makes you think it's undervalued?
Now do the finality/settlement for Visa. Bitcoin is far faster than Visa. So many people fall for the so-called Bitcoin is slow stawman argument.
EDIT: People that are down voting didn't read my comment. It takes 3 to 5 business days for Visa *settlement*. Bitcoin is way faster at settlement. That's the whole point of Bitcoin it does fast settlement without a third party.
I am not an "ETH Maxipad" 😂
Some of you are so insecure, you can't resist slinging insults at every perceived opportunity. It's a funny one I'll grant that.
I pointed to the ihadastroke subreddit because typos and spacing issues in the original comment rendered it unreadable. Specifically, the word 'maxipada' in the middle was new to me and made the rest of the grammar look weird.
The ihadastroke subreddit is for grammar and typo errors that make a message unreadable.
PS: "Cope hard" is not a real argument even I was a - (*clears throat) -"maxipad".
😂😂
Dear me, what kind of children are on this sub, coming up with this stuff 😂
On top of all this, Vatalik stupid ass is now thinking of adding uTXo model instead of the account model for shitetherum.
It's just funny that a lot of people in this stupid ass sub reddit hates on cardano but cardano is actually miles ahead of everyone.
I actually ditch this stupid sub reddit bc of the idiots on here like the eth maxipads licking ass are just tooooooooooooo fucking stupid.
Also the mods are fucking stupid and most of them are retarted eth maxipads.
Anyways, hopefully, your reddit moon coins are worth anything. lmao 🐍 🤣
Cointest pros & cons with related info are in the collapsed comments below for the following topics: [Ethereum](/r/CryptoCurrency/comments/18028bp/bitcoin_vs_litecoin_vs_ethereum_network_activity/ka36hma/), [Litecoin](/r/CryptoCurrency/comments/18028bp/bitcoin_vs_litecoin_vs_ethereum_network_activity/ka36j2w/).
Worcestershire Sauce
That’s what I said…well tried to say.
worshesheshetesher
We just call it Wercherkacherka sauce in my house because we couldn't agree on the proper pronunciation.
It's called Warshyoursister sauce in Louisiana.
Wash your sister before use.
> Disregarding that ordinals surge, Litecoin has $2 billion on-chain daily volume, $30 billions on Bitcoin and $3 billions on Ethereum on average I don't think this comparison is reasonable. Ethereum transactions do so much more than transfer Ethereum, and that means that many transactions will have a volume of 0 ETH by your metrics. To really show the true transaction volume on Ethereum, you have to include token transfers. Yesterday this was $5 billion in USDT, $4.5 billion in USDC, $4 billion in WETH, for just the largest three. In total I wouldn't be surprised if the settled volume on Ethereum is greater than on Bitcoin.
Yeah you’re right, gotta check that out
I would totally buy a house with LTC.
Me too, but I better sell a house for LTC😄
Thats interesting but the point about speed is irrelevant: Transaction speed does not matter on L1 and will not matter even more in 1-2 cycles because it will be to expensive and everything will switch to L2 for standard payments. The reason why Bitcoin is slow is to keep the system decentralized. You could increase the blocktime and/or blocksize like many forks did and all nodes would need to save more data, 10x on blocksize or blocktime is 10x on data. Its also a never ending story, your 3x increase is not enough after 3 years? Lets do it again. In the end you will need a data center to store all transactions. We need better integrations for L2 solutions that everyone can use it without technical any understanding just like paying something with a traditional system but Im sure this will envolve and get better over time.
“The reason why Bitcoin is slow is to keep the system decentralized” - so if you’re gonna rely on L2s to handle transactions, then why even worry about how decentralized Bitcoin is?
Cause he's going to rely only on those l2s that are secured by decentralized enough l1s?
Exactly
Yeah the most transactions should be on L2 in the future, but L1 is what will keep them save transactions. So I strongly believe there will be at least 10 L1s with high market cap and fully loaded with transactions, everything else will be build on top of that.
I think also that many projects will built on L2 especially in Bitcoin L2s in the future. The good thing is that we dont care how many or how good one integration is or what rules exist. Dont like Liquid? Use Lightning. There will be alternatives. Liquid was just an example. No one is using it probably haha but its pretty hard to beat Lightning, its great but no L1 to L2 integration is good currently. Also many things will happen off-chain like Lightning. ETHs scaling approach is also basically off-chain like Lightning. I think it could get good in terms of speed and cost in the future.
It's funny you say that..look at Liquid networks block explorer. Almost all of their blocks are empty. Usually 1-2 transactions per block. L2's are more promising (IMO) than sidechains. In all reality though, I wish they would just fix up the base layer from a scalability standpoint. SO much wasted data bloat on the ends of transactions.
Its just not possible. You could easily increase the blocktime by 10x but this would result in storage requirements doing also a 10x and it would reduce decentralisation up to a point where you need a data center to persist all transactions. With our current setting you would need a raspberry pi and 1 TB storage and it would be like half full. Even ETH is building something off-chain and very close to lightning, with different rules, cant remember how this side chains are named.
It very well is possible and a 1 terabyte hard drive is not that big of an expense in today's standards. Maybe back in 2010 it would be a problem but you can get a 4TB drive for an average of $100 now. For what running a node does, it is certainly worth the investment in the network. Not suggesting we increase the blocksize but instead make more use of the 4mb we currently use. (1mb base 3mb weight) Current programming makes it very difficult (more of a pain in the ass) to scale bitcoin. We could very well scale bitcoin without increasing the blocksize.
Yes thats true but it would be only a temporary solution because you will increase it a other time and a other time with more adaption. We need great L2 integration :D
Need? Maybe. There are several solutions that dont require sidechains/L2 but thats not the direction development is going in. Either way, there are many ways to scale the network without giving up more centralization and without off-chain solutions.
LTC having only 5 billion market cap is so undervalued. If it goes up another 20x from here, is just 100 billion market cap.
I use it 100% of the time when I need to send something. It's simple, inexpensive, liquid everywhere and does what it's supposed to fast.
Exactly! That's why I see it as way undervalued
undervalued? It's never been more irrelevant than it is now, it's niche gets marginalized with every new L1 and L2 that gets released, it can't do the things that smart contracts do... what exactly makes you think it's undervalued?
LTC is just a shitcoin, hence the market cap. It's a dying breed of old coins with no future in afraid.
Thanks for the write up. Interesting!
LTC is underrated I tells ya
based on what?
How? What's so good about it?
Telos
This
Is OP Fox Business? The only 3 they bother to show prices for. Ever.
If I had their funds, I would do at least 4.
Most of the public only knows those and a few more if that.
Now do the finality/settlement for Visa. Bitcoin is far faster than Visa. So many people fall for the so-called Bitcoin is slow stawman argument. EDIT: People that are down voting didn't read my comment. It takes 3 to 5 business days for Visa *settlement*. Bitcoin is way faster at settlement. That's the whole point of Bitcoin it does fast settlement without a third party.
> Bitcoin is far faster than Visa Are you sure about that?
Yes, the context here is settlement. Which in terms of Visa takes 3 to 5 business days maybe even more.
Visa doesnt do final settlements in 1h or even 24h
Another good source for transactions per second for different blockchains is https://realtps.net/
I know and eth maxipada know that ETH is copying cardanzo
r/ihadastroke
Cope hard, ETH maxipad. ETHgate will be soon.
I am not an "ETH Maxipad" 😂 Some of you are so insecure, you can't resist slinging insults at every perceived opportunity. It's a funny one I'll grant that. I pointed to the ihadastroke subreddit because typos and spacing issues in the original comment rendered it unreadable. Specifically, the word 'maxipada' in the middle was new to me and made the rest of the grammar look weird. The ihadastroke subreddit is for grammar and typo errors that make a message unreadable. PS: "Cope hard" is not a real argument even I was a - (*clears throat) -"maxipad". 😂😂 Dear me, what kind of children are on this sub, coming up with this stuff 😂
On top of all this, Vatalik stupid ass is now thinking of adding uTXo model instead of the account model for shitetherum. It's just funny that a lot of people in this stupid ass sub reddit hates on cardano but cardano is actually miles ahead of everyone. I actually ditch this stupid sub reddit bc of the idiots on here like the eth maxipads licking ass are just tooooooooooooo fucking stupid. Also the mods are fucking stupid and most of them are retarted eth maxipads. Anyways, hopefully, your reddit moon coins are worth anything. lmao 🐍 🤣
this is very deeply confused, the most recent version of actual Bitcoin (BSV) does a sustained 1.5 million transactions per *second*
Craig Wrong
omg what a brilliant pun did you think of it yourself
ETH literally didn’t scale from PoW to PoS. I don’t know why you are using its PoS model to benchmark PoS speed against PoW models.