UKC

El Salvador and Bitcoin

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Morning , 

https://www.bbc.co.uk/news/world-latin-america-57398274

"El Salvador has become the first country in the world to officially classify Bitcoin as legal currency.

Congress approved President Nayib Bukele's proposal to embrace the cryptocurrency, with 62 out of 84 possible votes on Tuesday night."

Can someone explain how they plan to broach the subject of transection throughput ?  Bitcoin can only handle 7 TPS (Transactions per second) not enough for a small city let alone a nation.   And wont miners just chase  and mine the worthwhile transactions with big fees ?

People would have to wait between 10 minutes and an hour for a transaction to be confirmed .

AP

1

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