Received: from sog-mx-2.v43.ch3.sourceforge.com ([172.29.43.192] helo=mx.sourceforge.net) by sfs-ml-2.v29.ch3.sourceforge.com with esmtp (Exim 4.76) (envelope-from ) id 1YHOGa-00073t-Di for bitcoin-development@lists.sourceforge.net; Sat, 31 Jan 2015 02:58:36 +0000 Received-SPF: pass (sog-mx-2.v43.ch3.sourceforge.com: domain of gmail.com designates 209.85.216.169 as permitted sender) client-ip=209.85.216.169; envelope-from=imsaguy@gmail.com; helo=mail-qc0-f169.google.com; Received: from mail-qc0-f169.google.com ([209.85.216.169]) by sog-mx-2.v43.ch3.sourceforge.com with esmtps (TLSv1:RC4-SHA:128) (Exim 4.76) id 1YHOGZ-00041Q-9T for bitcoin-development@lists.sourceforge.net; Sat, 31 Jan 2015 02:58:36 +0000 Received: by mail-qc0-f169.google.com with SMTP id b13so23499854qcw.0 for ; Fri, 30 Jan 2015 18:58:29 -0800 (PST) MIME-Version: 1.0 X-Received: by 10.224.43.72 with SMTP id v8mr19299213qae.30.1422673109884; Fri, 30 Jan 2015 18:58:29 -0800 (PST) Received: by 10.140.22.241 with HTTP; Fri, 30 Jan 2015 18:58:29 -0800 (PST) Received: by 10.140.22.241 with HTTP; Fri, 30 Jan 2015 18:58:29 -0800 (PST) In-Reply-To: References: Date: Fri, 30 Jan 2015 20:58:29 -0600 Message-ID: From: Nick Simpson To: Angel Leon Content-Type: multipart/alternative; boundary=047d7bdc9f7058a81f050de9e527 X-Spam-Score: -0.6 (/) X-Spam-Report: Spam Filtering performed by mx.sourceforge.net. See http://spamassassin.org/tag/ for more details. -1.5 SPF_CHECK_PASS SPF reports sender host as permitted sender for sender-domain 0.0 FREEMAIL_FROM Sender email is commonly abused enduser mail provider (imsaguy[at]gmail.com) -0.0 SPF_PASS SPF: sender matches SPF record 1.0 HTML_MESSAGE BODY: HTML included in message -0.1 DKIM_VALID_AU Message has a valid DKIM or DK signature from author's domain 0.1 DKIM_SIGNED Message has a DKIM or DK signature, not necessarily valid -0.1 DKIM_VALID Message has at least one valid DKIM or DK signature X-Headers-End: 1YHOGZ-00041Q-9T Cc: Bitcoin Dev Subject: Re: [Bitcoin-development] Is there a way to estimate the maximum number of transactions per minute Bitcoin can handle as it is today? X-BeenThere: bitcoin-development@lists.sourceforge.net X-Mailman-Version: 2.1.9 Precedence: list List-Id: List-Unsubscribe: , List-Archive: List-Post: List-Help: List-Subscribe: , X-List-Received-Date: Sat, 31 Jan 2015 02:58:36 -0000 --047d7bdc9f7058a81f050de9e527 Content-Type: text/plain; charset=UTF-8 This has been discussed before. I believe most people don't expect Bitcoin to replace all of the various methods of payment. Scalability is always a concern, just not to the level of Alipay this year (or the next or the next for that matter.) Nick On Jan 30, 2015 7:08 PM, "Angel Leon" wrote: > On the Chinese "Single's Day" (sort of like the american Black Friday) > according to MIT's Tech Review > > magazine > > "Alipay handled up to 2.85 million transactions per minute, and 54 percent > of its transactions are made via mobile device." > > For a few weeks I've been reading the conversations about block sizes and > the experiments being done on the subject with larger blocks. > > On the day with the most transactions, the Bitcoin block chain averages > about 73 transactions per minute. I kept wondering what blocksize we'd need > for handling 100,000 transactions per minute, and estimated that roughly > we'd need a blocksize of about 1300x times larger than what we have now, so > bigger than 1Gb block... but seeing the numbers Alipay gets to handle just > in China make me wonder how scalable is Bitcoin if it were to truly compete > with worldwide financial services. > > If you were to include double the number Alipay can handle, you'd be > shooting about 6 million transactions per minute, or roughly 60 million > transactions per block. > > If you average every transaction around 250 bytes, then you'd need ~15 > Gigabytes per block to be broadcast and hashed by all the full nodes every > 10 minutes, eating good 2Tb of storage daily... do miners have enough > bandwidth and CPU power to handle this? > > are my scalability concerns absurd? > > http://twitter.com/gubatron > > > ------------------------------------------------------------------------------ > Dive into the World of Parallel Programming. The Go Parallel Website, > sponsored by Intel and developed in partnership with Slashdot Media, is > your > hub for all things parallel software development, from weekly thought > leadership blogs to news, videos, case studies, tutorials and more. Take a > look and join the conversation now. http://goparallel.sourceforge.net/ > _______________________________________________ > Bitcoin-development mailing list > Bitcoin-development@lists.sourceforge.net > https://lists.sourceforge.net/lists/listinfo/bitcoin-development > > --047d7bdc9f7058a81f050de9e527 Content-Type: text/html; charset=UTF-8 Content-Transfer-Encoding: quoted-printable

This has been discussed before. I believe most people don= 9;t expect Bitcoin to replace all of the various methods of payment.=C2=A0 = Scalability is always a concern, just not to the level of=C2=A0 Alipay this= year (or the next or the next for that matter.)

Nick

On Jan 30, 2015 7:08 PM, "Angel Leon" = <gubatron@gmail.com> wrote:=
On the Chinese "Single's Day" (sort of like the american B= lack Friday) according to MIT's Tech Review magazine

"Alipay handled up to 2= .85 million transactions per minute, and 54 percent of its transactions are= made via mobile device."

For a few weeks I've= been reading the conversations about block sizes and the experiments being= done on the subject with larger blocks.

On the day with the most tr= ansactions, the Bitcoin block chain averages about 73 transactions per minu= te. I kept wondering what blocksize we'd need for handling 100,000 tran= sactions per minute, and estimated that roughly we'd need a blocksize o= f about 1300x times larger than what we have now, so bigger than 1Gb block.= .. but seeing the numbers Alipay gets to handle just in China make me wonde= r how scalable is Bitcoin if it were to truly compete with worldwide financ= ial services.

If you were to include double the number Alipay can ha= ndle, you'd be shooting about 6 million transactions per minute, or rou= ghly 60 million transactions per block.

If you average every transac= tion around 250 bytes, then you'd need ~15 Gigabytes per block to be br= oadcast and hashed by all the full nodes every 10 minutes, eating good 2Tb = of storage daily... do miners have enough bandwidth and CPU power to handle= this?=C2=A0

are my scalability concerns absurd?


-----------------------------------------------------------------------= -------
Dive into the World of Parallel Programming. The Go Parallel Website,
sponsored by Intel and developed in partnership with Slashdot Media, is you= r
hub for all things parallel software development, from weekly thought
leadership blogs to news, videos, case studies, tutorials and more. Take a<= br> look and join the conversation now. http://goparallel.sourceforge.net/
_______= ________________________________________
Bitcoin-development mailing list
Bitcoin-develo= pment@lists.sourceforge.net
https://lists.sourceforge.net/lists/listinfo/bitcoin-de= velopment

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