Quote from: DeathAndTaxes on March 03, 2015, 10:57:13 PM

Quote from: pedrog on March 03, 2015, 09:55:44 PM

I believe the current limit is about 7 transactions per second, which gives us 604800 transactions per day, way above the current ~100000 transactions per day on the network.

7tps is impossible. It is a computed value assuming the minimum size txn with only a single input and single output. A more realistic range would be 2 tps to 4 tps per MB of block size.

This is true, as you explained in your thread arguing against keeping the max block size at 1 MB.

However thinking that the number of transactions per second will (near) instantly jump to 1 million is just not realistic. What would more realistically happen is that the number of TPS would increase over time which would give enough time for the network to be forked to allow for a higher number of TPS (via a larger max block size).

If we were to see a(n average) number of TPS that effectively brushed up against the maximum for a medium period of time, then we would see a period similar to some parts of 2013 where we saw confirmation times effectively increase, and the effective minimum tx fee required to have your tx confirmed in the next block increase