Received: from sog-mx-4.v43.ch3.sourceforge.com ([172.29.43.194] helo=mx.sourceforge.net) by sfs-ml-3.v29.ch3.sourceforge.com with esmtp (Exim 4.76) (envelope-from ) id 1YHMTp-0002eK-Sb for bitcoin-development@lists.sourceforge.net; Sat, 31 Jan 2015 01:04:09 +0000 Received-SPF: pass (sog-mx-4.v43.ch3.sourceforge.com: domain of gmail.com designates 209.85.216.42 as permitted sender) client-ip=209.85.216.42; envelope-from=gubatron@gmail.com; helo=mail-qa0-f42.google.com; Received: from mail-qa0-f42.google.com ([209.85.216.42]) by sog-mx-4.v43.ch3.sourceforge.com with esmtps (TLSv1:RC4-SHA:128) (Exim 4.76) id 1YHMFF-00034r-Pe for bitcoin-development@lists.sourceforge.net; Sat, 31 Jan 2015 00:49:06 +0000 Received: by mail-qa0-f42.google.com with SMTP id dc16so22426572qab.1 for ; Fri, 30 Jan 2015 16:49:00 -0800 (PST) X-Received: by 10.140.22.99 with SMTP id 90mr17522546qgm.72.1422665340310; Fri, 30 Jan 2015 16:49:00 -0800 (PST) MIME-Version: 1.0 Received: by 10.140.40.42 with HTTP; Fri, 30 Jan 2015 16:48:40 -0800 (PST) From: Angel Leon Date: Sat, 31 Jan 2015 01:48:40 +0100 Message-ID: To: Bitcoin Dev Content-Type: multipart/alternative; boundary=001a11c003723e5adc050de8161a 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 (gubatron[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: 1YHMFF-00034r-Pe Subject: [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 01:04:10 -0000 --001a11c003723e5adc050de8161a Content-Type: text/plain; charset=UTF-8 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 --001a11c003723e5adc050de8161a Content-Type: text/html; charset=UTF-8 Content-Transfer-Encoding: quoted-printable
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 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?

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