Bitcoin and Steem Overview

   So I heard through the grape vine that bit coin transaction speeds and fees were improving.  In fact, they are, but we have a long way to go.  Coinbase, the largest United States exchange, should have the segwit improvement in place by next week.  That's a pretty big deal and it may be a small part of the increased confidence in bit coin lately.  Work on the lightning network for bit coin continues.  If we get both measures in place we may be a lot closer to Satoshi's vision, providing a decentralized, fast, low cost form of payment.

   So Where Are We at Now?

Below is the average time in minutes of a bit coin transaction

   You can see some insanely high wait time for confirmations in January.  We are doing better now but 570 minutes to wait for confirmation is really too long in this day of technology.  However, this isn't the end of the world.  Segwit and the lightning network are on the way.  Confidence is returning to bit coin as we can see with the recent price support.

   Average Transaction Fee of a Bit Coin Transaction

   According to the chart, we are looking at about 1.90 for the fastest priority.  It's a reasonable fee considering bit coin can be sent to anywhere and anyone in the world.  Try doing an international bank wire for that much.

   Next up is a comparison to the crypto coin STEEM.  Would love to hear your feedback out there, but, from what I have seen transaction speed rates for sending and receiving STEEM are near instant(a few minutes).  Steemit provides a ready wallet once you start and blocktrades provides quick transfers to other coins.

   Below we look at the number of transactions STEEM is carrying out with ease, blowing away the number that are being done with bit coin.  Lest we not forget, STEEM transactions are FREE WOW!

   Now in fairness, STEEM will need to be converted to Ethereum, Bit Coin, or Other before being liquidated to fiat(U.S. Dollars Etc.).  So what you think?  The world should be transacting in STEEM right! :)