📅 Original date posted:2011-12-21
🗒️ Summary of this message: If Bitcoin replaced all credit card transactions, it would require 1.14GB per block and 58.5PB per year, with a distribution of 2MB of block data per second.
📝 Original message:I think it would be a lot more than that. According to the Scalability
page (https://en.bitcoin.it/wiki/Scalability) if Bitcoin took over all
credit card transactions, that would be about 1.14GB per block. I
believe that is 58.5PB per year. (6*24*365*1.14/1024) This would also
mean the distribution of 2MB of block data per second, which doesn't
include broadcast overhead.
On 12/21/2011 12:50 AM, Michael Grønager wrote:
> when bitcoin takes over all credit card transactions (!), and even before that,
> we will meet a scalability problem. The blockchain will grow rapidly,
> (1MB/10min or 50GB/yr)
Jordan Mack [ARCHIVE] /
npub18y…3txp2
2023-06-07 02:50:58
in reply to nevent1q…q80w
Author Public Key
npub18yq2ukhtlnkuzzykluyjvxap3vtvdqf0arvtag6rx02klk6gymgqp3txp2Published at
2023-06-07 02:50:58Event JSON
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"created_at": 1686106258,
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"content": "📅 Original date posted:2011-12-21\n🗒️ Summary of this message: If Bitcoin replaced all credit card transactions, it would require 1.14GB per block and 58.5PB per year, with a distribution of 2MB of block data per second.\n📝 Original message:I think it would be a lot more than that. According to the Scalability \npage (https://en.bitcoin.it/wiki/Scalability) if Bitcoin took over all \ncredit card transactions, that would be about 1.14GB per block. I \nbelieve that is 58.5PB per year. (6*24*365*1.14/1024) This would also \nmean the distribution of 2MB of block data per second, which doesn't \ninclude broadcast overhead.\n\nOn 12/21/2011 12:50 AM, Michael Grønager wrote:\n\u003e when bitcoin takes over all credit card transactions (!), and even before that,\n \u003e we will meet a scalability problem. The blockchain will grow rapidly,\n\u003e (1MB/10min or 50GB/yr)",
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}