Cory Johnson, the chief market strategist at Ripple Labs, recently explained that the Bitcoin network “has some real technological limitations” - which include “how many transactions it can do per hour...let alone...nobody even talks [any more] about per minute.”Johnson added that there are severe “restrictions around [bitcoin] mining and how mining is increasingly expensive … and consumes power ... and also the way it [ineffectively distributes] power to the miners … presently, [about] 80% of all bitcoin is being mined in China.”
