Saifedean Ammous: The Bitcoin Standard
Crypto Voices
What Is the Worst Case Scenario for Bitcoin?
Even with just current capacity what we see Bitcoin is able to do is about a half a million transactions which would mean a network of around 1000 banks worldwide each one of them able to perform one final settlement payment. Each one does a thousand transactions a day roughly and they're all able to settle with one another so you could have a central banking system wherein the final layer is instead of having one node essentially in our currencies the US Federal Reserve effectively as the place where all the payments are clearing. If governments try to fight this by let's say banning there's these kind of Bitcoin settlement banks from their countries all that they're doing is that they're just missing out on this new financial infrastructure for global
