Re: SatoshiDice, lack of remedies, and poor ISP options are pushing me toward "Lite"

Quote from: Stephen Gornick on January 01, 2013, 07:57:13 PM

And it appears to be approaching the rate of 300 transactions per block (about 43K transactions per-day).
- http://blockchain.info/charts/n-transactions-per-block?timespan=180days&daysAverageString=7

This is a transaction every two seconds.

A lot of these are microtransactions (e.g., under a dollar's worth of coins) used for wagering, so the blockchain already has a way of limiting those:

It's doubtful that anyone will be able to hold the entire blockchain at some point in the future, should Bitcoin become a mainstream thing.

Here's some interesting data (from 2006 only for the US)

Average daily number of transactions:
- 60 Million credit card transactions
- 100 Million Interbank ATM transactions
- 60 Million ACH transactions
- 15 Million SWIFT transactions
- 365.000 CHIPS transactions
- 521.000 FEDwire transactions
- 700.000 CLS transactions

So that's a cool 237 Million daily transactions, in the US alone, excluding cash transactions.

Let's assume a conservative average of 3 daily cash transactions per person (buying the paper, a hotdog and a pack of smokes). That adds a cool 1000 Million transactions for the US alone right there.

Yeah. Better go grab a YottaByte HD real quick.