1. yea about 3 a second but 60 seconds divided by 4.2 is 14.28... so thats 14 blocks per minute at max 600 Bytes... with a max standard transaction size of 60 so thats 10 transactions per block so 14 x 10 is 140 transactions a minute. 8400 transactions an hour the default max size is 40 Bytes so the numbers can be different. I think as the network gets bigger things will get better but the problem is things are moving faster than expected I can change the block size later but for now its suppose to be small because it moves so fast and if you read the white paper it says its for CPU but people arent going to follow the "rules". It could work on phones if EVERYBODY only used cell phones on the network or if their was away to limit the hashrate for mobile devices. but EVERYBODY is not going to follow the map because greed and the fact that its allocated or 'decentralized". people do what they want no regulation or KYC.
Can you show me example of transaction with size 60 bytes? Based on my assumption, where the coin are fork of litecoin (which is based on bitcoin) and there's no cryptography change (which means the coin use ECDSA with secp256k1 as parameter), 60 bytes is simply impossible since the signature size alone is between 71-73 bytes.
2. 10 minute block is way too slow all respect to bitcoin and litecoin but they are too slow when the network gets busy. all you want to but was a candy bar or even up to a bike you will be standing at the counter for who knows how long. those are too small of transactions for the network. Even sending bitcoin to other people just to spread it is a nightmare. yo watch when the average person gets a hold of Bitcoin and starts trying to use it for the first time. they are not going to be happy with the speed. Its suppose to be Electronic cash so thats suppose to be fast as a debit card in my opinion. For store value yes but for spending everyday for quick payments no!!! same with Litecoin. people call it digital gold but in the white paper it says "electronic cash". lets face it nobody knew Bitcoin was going to be this big for a fact when it started. I didnt make Piece to big a big thing so fast you cant compare it to Bitcoin right now its still a baby seems like thats what people are trying to do. Bitcoin is the $hit especially if you got in early but not so good for late comers who have the same amount of money as thos in the beginning of Bitcoin some were homeless probably now look at them they stuck with it through the ups and downs. How many people gave up after mt Gox? or silk road? im goin of topic but its deep
I agree 10 minutes are way too slow, but my point is 4.2s will reproduce many stale and orphan block which makes risky to accept transaction with very few confirmation.
On a side note, you don't need to wait 10 minutes by accepting 0-confirmation transaction (with few caveats) or use payment channel (such as LN).
3. Do you know ethereums block size is small like 20 to 30kb and they can handle more transactions per second than bitcoin am i wrong i could be pull up the numbers. But Ethers fees are wayyyyyyy too high when things get busy on the network I tried to buy a website with Ether for around 6 bucks but the fee was 4 bucks to send it SMH!! the top 4 coins (Bitcoin Ripple Litecoin Ether) have flaws especially for working class people. I think thats one reason why things get stalled sometimes but hey who am i?
1. Actually, average ethereum block size are higher (https://etherscan.io/chart/blocksize shows it's about 35-40KB in last few months) and gas size (which affect block size) is increased over time.
2. Ethereum have bigger TPS than Bitcoin because Ethereum could mine block with total size bigger than 1MB in 10 minutes. I don't even count uncle block.
3. Fees will be always high when there are more transaction on mempool than block could handle.
this is bitcoins little baby brother just born the block size can increase later. I could increase the block size and lower the max transaction size to increase transactions per second but its about storing right now and later. STORE!!!
I suggest you to emphasize this point since people who make calculation like me will lose interest to the coin.
People have yet to really test Bitcoin i cant wait intill paypal allows people to send. I want to see how Bitcoin can really handles orphan blocks.
You also have to remember that this coin only lasts 8 years. I wanted to accelerate the end of Bitcoin. this is an experiment like all of the cryptocurrencies so I understand your calculations need to be accurate. makes for a better protocol but not even Bitcoin was accurate in the beginning it was in beta mode. I want to see the network grow and transactions move on the block to really see things first. some improvement proposals would be good PIP's
