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Title: what happens in x years Post by: schnak on February 11, 2012, 06:19:01 PM what happens in x years when the block chain is no longer measured in mega/gigabytes but in terabytes? at that point every miner in the world holding on to the entire block chain would have to have some rather impressive data storage ability.
Just thinking about what would happen if the writer of this article was successful. http://bitcoinmedia.com/our-next-adoption-phase/ even a small nation adopting Bitcoin for something as benign as paying for cellphone bills would cause an influx of transaction volume the likes of which would make the 10K transaction/day of June look like a stagnant month. The growth of the chain at that pace would be tremendous, and the record keeping nature of the chain (while in itself valuable as a permanent recipt of transaction) would definatly over run my little miner's 40gb HDD. I'm guessing that I'm missing some truncating function that I haven't seen mentioned... i hope. Title: Re: what happens in x years Post by: MysteryMiner on February 11, 2012, 06:23:42 PM In X years your 40GB will look like 40MB MFM HDD looks today. The storage and processing power grows faster than Bitcoin network. The Client will have option to discard the unneeded blocks that's why merkle tree is there from beginning.
Title: Re: what happens in x years Post by: schnak on February 11, 2012, 06:28:39 PM well yea the drive will be tiny by comparison but system scaling is the point the local critics usually get me on. should have been looking fro pruning - that got me the info i needed. thx
Title: Re: what happens in x years Post by: Revalin on February 12, 2012, 03:11:39 AM Have a look at https://en.bitcoin.it/wiki/Scalability .
Especially about Storage and transaction pruning. Title: Re: what happens in x years Post by: schnak on February 12, 2012, 03:42:42 AM :o sweetness. thanks.
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