Received: from sog-mx-1.v43.ch3.sourceforge.com ([172.29.43.191] helo=mx.sourceforge.net) by sfs-ml-3.v29.ch3.sourceforge.com with esmtp (Exim 4.76) (envelope-from ) id 1YHOGz-0007vW-UU for bitcoin-development@lists.sourceforge.net; Sat, 31 Jan 2015 02:59:01 +0000 Received-SPF: pass (sog-mx-1.v43.ch3.sourceforge.com: domain of gmail.com designates 209.85.212.181 as permitted sender) client-ip=209.85.212.181; envelope-from=allen.piscitello@gmail.com; helo=mail-wi0-f181.google.com; Received: from mail-wi0-f181.google.com ([209.85.212.181]) by sog-mx-1.v43.ch3.sourceforge.com with esmtps (TLSv1:RC4-SHA:128) (Exim 4.76) id 1YHOGw-0007SD-1u for bitcoin-development@lists.sourceforge.net; Sat, 31 Jan 2015 02:59:01 +0000 Received: by mail-wi0-f181.google.com with SMTP id fb4so5931651wid.2 for ; Fri, 30 Jan 2015 18:58:52 -0800 (PST) MIME-Version: 1.0 X-Received: by 10.181.8.199 with SMTP id dm7mr458798wid.81.1422673132040; Fri, 30 Jan 2015 18:58:52 -0800 (PST) Received: by 10.194.48.105 with HTTP; Fri, 30 Jan 2015 18:58:51 -0800 (PST) In-Reply-To: References: Date: Fri, 30 Jan 2015 20:58:51 -0600 Message-ID: From: Allen Piscitello To: Angel Leon Content-Type: multipart/alternative; boundary=001a1134cd60aab83d050de9e6f4 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 (allen.piscitello[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: 1YHOGw-0007SD-1u 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 02:59:02 -0000 --001a1134cd60aab83d050de9e6f4 Content-Type: text/plain; charset=UTF-8 You are assuming that the only way to use Bitcoin is on-chain transactions and that is the only way for it to scale. This is a mistake. On Fri, Jan 30, 2015 at 6:48 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 > > --001a1134cd60aab83d050de9e6f4 Content-Type: text/html; charset=UTF-8 Content-Transfer-Encoding: quoted-printable
You are assuming that the only way to use Bitcoin is on-ch= ain transactions and that is the only way for it to scale.=C2=A0 This is a = mistake.

On = Fri, Jan 30, 2015 at 6:48 PM, Angel Leon <gubatron@gmail.com> wrote:
On the Ch= inese "Single's Day" (sort of like the american Black Friday)= according to MIT's = Tech Review magazine

"Alipay handled up to 2.85 million tr= ansactions per minute, and 54 percent of its transactions are made via mobi= le device."

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

On the day with the most transactions, th= e Bitcoin block chain averages about 73 transactions per minute. I kept won= dering what blocksize we'd need for handling 100,000 transactions per m= inute, 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.<= br>
If you were to include double the number Alipay can handle, you'= d be shooting about 6 million transactions per minute, or roughly 60 millio= n transactions per block.

If you average every transaction around 25= 0 bytes, then you'd need ~15 Gigabytes per block to be broadcast and ha= shed by all the full nodes every 10 minutes, eating good 2Tb of storage dai= ly... do miners have enough bandwidth and CPU power to handle this?=C2=A0
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 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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