![]() | Yesterday I needed to transfer some coins in between hardware wallets, some BTC and a some ETH. Whereas the first took around 30 minutes to be confirmed, even though I paid the maximum fee, ETH went through in less than a minute (in seconds, actually). Before you try to lecture me on the Lightning Network (LN), I'm talking about hardware wallets, therefore there's no option for you to use it. This is not the first time it happened, but yesterday I was really annoyed. I then decide to check transaction times between both of them, and got really surprised that the average mining time for an ETH block is around 12 seconds. How did I not know this before? I felt such a newbie (well, I am). A chart of the average mining time follows below: ETH average transaction/block mining time. Source: https://etherscan.io/chart/blocktime In a previous post I've calculated the average block mining time for Bitcoin, and it was shown to be around 7.39 minutes. A chart follows below, with the vertical axis in minutes: BTC average transaction/block mining time. Source: https://data.nasdaq.com It doesn't stop here: ETH wins against BTC in number of daily transactions (which is expected since its average transaction time is lower...): ETH daily transactions. Source: https://etherscan.io/chart/blocktime BTC daily transactions. Source: https://data.nasdaq.com I understand that the best solution for speedy transactions in the BTC network is to use LN, but I don't want to, and will not, give up the security of a hardware wallet. At this point I'm not even taking into consideration things like smart contracts, NFTs and such. I just want speed and reliability of the network. I also don't want to use another token just because of its speed. I don't have patience for that and time in the space has shown me (us?) that BTC and ETH are here to stay. I will definitely keep the BTC I already have, but am considering allocating 70%+ of my future buys to ETH, 20% to BTC and the rest in alts. This could also be a shutout to hardware wallet manufacturers to include the option of combining their product with LN. TL;DR: ETH fast, BTC slow when using a hardware wallet. Will buy more ETH than BTC in future buys. [link] [comments] |

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