Samson Mow, Blockstream’s chief strategy officer, said that BTC always focused on worth and an updated financial paradigm, not transactions each second.
Mow aims to shift the debate from BTC transaction output per second and to its position in implementing an updated financial paradigm – acting as means to store and transfer worth without permission.
Mow’s point is that value transacted per second, not transaction per second, is what’s important. Numbers for the video were allegedly made with blockchain information from the editor of Blockstream Engineering Blog. Similar to that, the editor tweeted that BTC sales are doing well and that one Bitcoin can store an endless amount of worth.
In another tweet, Mow said the inspiration for the video was from a Ripple marketing video that compared their coin’s TPS to that of BTS.
Data from Blockchain.com revealed that as of Dec. 1, the overall estimated volume of transfers on the BTC distributed leverage was valued at $4,627B. This figure was, at the start of November, USD5.15B, near to its all-time peak.
Transaction per second has long been seen as a week spot for BTC, whose potential is at a lower threshold than that of rival cryptos like Ethereum. This is, in particular, the argument taken by BCH promoters such as Roger Ver, who touts the commodity as a stronger currency for retail use in small-scale transfers.
Mow’s BTC argument has been clear, stating that those who are involved in day-to-day transactions should use 2nd-layer solutions like the Lightning Network. BTC, he says, has an entirely different use – it is something of a store of value and a means of transfer of capital. It is not something you’d use in payments each day. He repeated that he doesn’t hate Bitcoin; he just believes it doesn’t suit payments.