Size of public ledger?

[Bitcoinfraud]

Size of public ledger

Ok
From what I understand every transaction since genesis is in the public ledger

Anyone know how many transactions in it?
How many bytes does the average transaction take to store?

Right now it looks like a minor ledger
70k trans a day
Visa n mastercard does 10k a second
800m a day

So 800m to 70k

So how many bytes does a transaction consume?

If this thing becomes 1% of gwp or 10% of visa/mc

Thats 80m transactions

So a continuous log is not realistic in big numbers

Sure tiny numbers like 70k a day no big deal

80m
8m transactions

That would be huge data load

So

Is every transaction what a new node downloads?
Ok
How many transactions since genesis
Then
How many giga or terrabytes is that file now

Minor trans like 70k a day and people cimplain the ledger too big to handle

Imagine if it does become mainstream

I dont see one big ledger working for billions of transactions

Anyone got real answers to my questions?

Or am I the only one that understands dataloads, bytes, bandwidth, drive limitations, etc

[farlack]

Games

From

1990s

were

less

than

1mb

in

size

and

they

were

30

hour

games

If you look around this has been answered a ton.

Here is a sum up of whats been said


It's on the back of the priority list to fix, its a known flaw, visa/mastercard have dumped billions into infrastructure. Soon 1TB hard drives will be the norm.. Dell started accepting bitcoin, whats to stop them from integrating a wallet already synced? Nothing.

[inBitweTrust]

Anyone got real answers to my questions?

Or am I the only one that understands dataloads, bytes, bandwidth, drive limitations, etc

Welcome to bitcoin, no worries to scalability problems as this was known and heavily considered even before the genesis block was mined.

first thing that answers some of your concerns is satoshi's original whitepaper, start there:
https://bitcoin.org/bitcoin.pdf

Than here:
This https://en.bitcoin.it/wiki/Scalability

A few solutions that will all solve your concerns-
1) Ignores the fact many options on the table as even discussed in Satoshi's original whitepaper like pruning unnecessary data about transactions that are fully spent-
bitcoin.org/bitcoin.pdf
using a merkel tree -  http://bitcoin.stackexchange.com/questions/10333/blockchain-long-run-issue
2) An audited decentralized Payment Verification network of nodes can also be used that isn't dependent upon trusting any source. The data could also be spread out evenly accross the miner network much like bit-torrent uses to store much higher amounts of data.
3) This ignores the scalability of memory storage and the drastic reduction in both price and size that is expected with a whole new set of technologies in the future
4) Another solution - http://www.bitfreak.info/files/pp2p-ccmbc-rev1.pdf

More data -
https://bitcointalk.org/index.php?topic=88208.0

Why hasn't this already been implemented? Developers will roll out changes as soon as the blockchain size becomes unreasonable; why fix something that isn't broken right now.

[franky1]

total transactions 42,971,537

average bytes less then 0.46kb per tx
my hard drive says the blockchain is about 20gb..
so 20,000,000 kb / 42971537 tx = 0.46kb



heres some maths to help work things out other things..

each block has a 1mb limit.. thats 6mb an hour 144mb a day, 52gb a year

the 52gb a year or 1mb a block is the limit.. right now we are not making 52gb of data per year, we are making less than 20% of that.

as for the transactions per second.
if the block limit was raised to 5mb a block (260gb a year data storage limit) and if each block was reduced to 2 minutes (making the reward 5btc per block reward to keep things on track)

then the amount of transactions per second would be 25 times more then it is now.

so they say 7 transactions a second rigt now would become 175 a second
10500 a minute
105,000 each block
630,000 each hour
15,120,000 each day

.. time for coffee

[Meuh6879]

actual size = 24Go

[franky1]

actual size = 24Go

if you include rev files with blk files

[Bitcoinfraud]

Perfect 42m trans
20gb data
500 bytes per trans

So as it is

80m trans a day gonna use 20gb

1year only 750gb

Not even a tb per year

So 800m trans be 7.5 tb data year

So a few trusted super computers would need to handle it

But data storage is on exponential growth too

I remember my 5k buck brunelli drives early 80's
5mb

So 5mb to 1tb jump in storage pcs

Hope it doesnt jump to 800m trans too fast

Lol

Yep dell could sell synched up servers in 5 years

100tb drives with 10tb preloaded
Lol

You guys are great

Big thanks

[Harley997]

These are only current levels. It is very well possible that the protocol could be changed in the future that would allow for more TX per second and to compensate nodes for their services.

It should be noted that VISA did not have it's capacity that it has today when it was in it's newer stage of business development. 

[franky1]

to bitcoin fraud:

you do realise today you can buy a solid state 1TB hard drive for less then $400, imagine the size of SSD you can buy in "5 years" as quoted by you..

now why would we need dell servers??

current computer hard drives are more then ok for this year, then next year people can upgrade for a 2TB (if some limits are changed and mass transactions occur) then a couple years after that when their entire PC is ready for upgrade they can upgrade to a PC with even more data storage.

no need for servers..

as for the pre load. if you look at how far we come in the last 10 years of internet. from 512 broadband, to 2mb, 8mb, 12mb
then fibre optic 20mb, 50mb, 100mb.. i wonder what the internet speeds for average joe will be in 2-5 years. again i do not think it will be a problem.

one thing for sure is.. i am NOT going to get a preload blockcain from one source. having it down load from a variety of nodes ensures there is no collusion. if everyone got it from dell it would b easy enough for dell to tweak one of the earlier unspend blocks to say they have coins. but if we download from multiple sources, there is little to no chance of tweaking it. (which is another reason i prefer slow downloads from nodes instead of the current torrent (although i know the torrent is clean.. i just prefer to do it the right way))

[williamj2543]

I think soon the blockchain will be not worth it (too big, maybe 100gb) to store on a regular computer. I actually use blockchain.com as a wallet, because its just a pain to have a massive file on your computer, and to have to regularly download and update it. I would just use xapo.com or blockchain for the future.

[franky1]

I think soon the blockchain will be not worth it (too big, maybe 100gb) to store on a regular computer. I actually use blockchain.com as a wallet, because its just a pain to have a massive file on your computer, and to have to regularly download and update it. I would just use xapo.com or blockchain for the future.

if you play call of duty, or world of warcraft on your PC then your complaining over nothing.
today call of duty:ghosts needs over 20gb, that game alone amount to over 5 years of blockchain data. let me guess your going to refuse to get the next call of duty game??

the 52GB is the maximum POTENTIAL.. at the moment 5 years of data is only 20gb TOTAL (not even 6 month POTENTIAL)

meaning that the blocks are only filled 10%-20% average. we have not even had a single year of half the potential of the yearly data limit. so calm down. by the time things move forward, computer technology would move forward too.

what you will also find is your games would start needing 50gb of data+ PER GAME soon so average joe would not see a blockchain as being a big deal in comparison as it would be similar to maybe 5-10 games at most in a few years

[Bitcoinfraud]

Forum answered question well
ALL IN BITCOIN

BITCOIN TO 50k