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Another misconstrued problem is blockchain’s slow performance, which is, again, a Bitcoin issue. Bitcoin’s network requires an average of 10 minutes to create a block, and it’s estimated that it can only manage seven transactions per second (TPS).
Currently, around 18.5 million bitcoin have been mined; this leaves less than three million that have yet to be introduced into circulation. Once all Bitcoin has been mined the miners will still be incentivized to process transactions with fees.
Just like nobody owns the email technology, nobody owns the Bitcoin network.
- Withdrawal Methods: Coinbase lets you sell Bitcoins for cash, which you can then withdraw into your bank account. …
- Fees: The fees depend on the country that your bank is located in. …
- Cash–out times: Withdrawal times also depend on the country that your bank is located.