I am builing a free wallet service (like instawallet) and would like to know what are your thoughts on solely relying on the bitcoind daemon for storing all transactions as opposed to storing them in an external database for lookups. I have concerns that if we were to run into hundreds of users and transactions that bitcoind would not be able to handle such volumes concurrently.
Are there any hard limits of to how far the daemon can scale or is this limited by the underlying hardware?
Anybody got this to run in Daemon mode for solo mining? Tried with the client with -server option but kept on getting a "cannot connect to server" when trying to execute a "getinfo" from command promtp