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Author Topic: #potential transactions in the whole blockchain  (Read 244 times)
amiryk (OP)
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August 24, 2017, 01:58:24 PM
 #1

Guys,
i did a calculation and it seems that given full mining of all blocks (21 Million) times the number of transactions that most blocks carry (which is around 2500 in average) - there is room for *only* 52.5 Billion transactions.

while this is a large number, it looks totally shorthanded to be able to accommodate for the future, if bitcoin is to be adopted on a global scale.

is my calc accurate more or less, or am i missing something?

thanks,
amiryk
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August 24, 2017, 02:34:58 PM
 #2

... given full mining of all blocks (21 Million) times the number of transactions that most blocks carry (which is around 2500 in average) - there is room for *only* 52.5 Billion transactions.

you think there are only 21 million blocks? where did you get that?
21 million is the maximum number of bitcoins that are allowed to be created ever. or the cap. it has nothing to do with maximum number of blocks.
in fact there is no cap for how many blocks can be mined! it is restricted indirectly by the storage space though. but as long as bitcoin is alive and someone is mining it, a new block can be found.

∞ * 2500 = ∞ transactions!

Quote
is my calc accurate more or less, or am i missing something?
if you want to calculate how many tx can be handled you usually do it in a fixed timeframe for example how many tx per second or TPS.

There is a FOMO brewing...
Karpeles
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August 24, 2017, 02:51:09 PM
 #3

With the Segwit and 2x blocks you might want to remake your calculations. There is no way to know what will change in the future too.

But I still don't understand you did you calculated the maximum Bitcoin transactions over history, as far I know Bitcoin doesn't have a kill switch that will self destroy itself somewhere in the future Huh
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