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Author Topic: bitcoin block size  (Read 1982 times)
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August 12, 2011, 07:47:39 PM

given the number of 4000 average TXN per second at 438 bytes per TXN

1752000bytes per second
105120000 bytes per minute
6307200000 bytes per hour
147825000 kilobytes per day
~140 gigabytes per day
~51456 terabytes per year (365)

seeing these numbers makes you wonder really wonder. what is the solution?

I think you may have mixed up your labeling there. ~140 * 365 = ~51456 GIGAbytes, not terabytes. ~51 terabytes per year isn't really that bad today for a professional data storage place, and likely will be something home users can get 10 years from now (according to this ~51 terabytes only costs about $2,338.86 today, which already isn't much compared to what some of the bigger mining rig operators spend. This will likely drop to $200 in ten years)

yes i know the data is not really accurate at all, i was lazy and just pounded some numbers in a calc instead of excel.

this is what i hope we all have once we pass 2020 or  2015, if we are lucky

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Democracy is the original 51% attack

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August 12, 2011, 11:09:08 PM

it was my understanding that you needed the entire block in order to hash it to verify it, so how can you possibly remove data from the chain.

You do not need the entire block chain to run a wallet. For example, the Android wallet app uses a very light version which is only like 30MB instead of 400mb and it's a fully-functional wallet. The point is, not every functional Bitcoin user need store the entire Bitcoin database. As long as some people or companies are, then the network functions.
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