-----BEGIN PGP SIGNED MESSAGE----- Hash: SHA1 On 05/09/2015 02:02 PM, Andrew wrote: > The nice thing about 1 MB is that you can store ALL bitcoin > transactions relevant to your lifetime (~100 years) on one 5 TB > hard drive (1*6*24*365*100=5256000). Any regular person can run a > full node and store this 5 TB hard drive easily at their home. With > 10 MB blocks you need a 50 TB drive just for your bitcoin > transactions! This is not doable for most regular people due to > space and monetary constraints. Being able to review all > transactions relevant to your lifetime is one of the key important > properties of Bitcoin. How else can people audit the financial > transactions of companies and governments that are using the > Bitcoin blockchain? How else can we achieve this level of > transparency that is essential to keeping corrupt > governments/companies in check? How else can we keep track of our > own personal transactions without relying on others to keep track > of them for us? As time passes, storage technology may increase, > but so may human life expectancy. So yes, in this sense, 1 MB just > may be the magic number.
How many individuals and companies do you propose will ever use Bitcoin (order of magnitude estimates are fine) Whatever number you select above, please describe approximately how many lifetime Bitcoin transactions each individual and company will be capable of performing with a 1 MB block size limit. -----BEGIN PGP SIGNATURE----- iQIcBAEBAgAGBQJVTgNcAAoJECpf2nDq2eYjM8AP/2kwSF+HMPR1KdaZsATL4rog xSS97Q5iEX8StA61jUqHQmpXL5pG6z5DeeKT/liwcMnYnVqOEOLvoVctr3gXfgRz 9GJeTOlmN5l9xBeX/nWa0A2ql0kWZpYolBS1FwYadWReAD8R0X9UeBd9YXLZNy33 Ow9JjwRjKHhsuyrlMP8pRDKlGPoa/U+2aW4FwiysMLa0Gu6dbFjTrp3bHw4Fccpi X0E/aDN68U4FV+lZ4NzkMsBK9VARzmC8KI0DQ540pqfkcnyoYf0VERl/gslPWhfq t6Rqa7vHHMqFe82lgCd3ji8Qhsz8oBrDS4u4jqwATvgihgImOB6K85JoKmf3y2JS jByjMGd4Ep0F80Z2MRhi6HuEoRU69uY2u6l9bZxMjzvLX8sG6QTNk3uLMS3ARXcY JBjZ/g13DXgcRj01fq05CHbCTJYZgTA9pRZTY+ZKH4r0mu86b9ua7hjvyKHS6q54 uaFmRkNcnKlpCY+fvH/JUdvvmwrA0ETUdHhRyk8vzWIMi+aH4//GwrCmBNRrugzv 9JtQ1BC+tQqtSX2VkFEhAVISitgkBqurVVlGk18FvVKPFO8cnFS/6NWoPE0WLLzW 2pTuhEPjdz9UAHD3RW601rb4C0LbuwVlGO4tYBjyqCmk/vBlES2XIjQKctXZLBEy eLgn3gMwEXUTU6UdGyvb =RPhK -----END PGP SIGNATURE-----
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