Quote from: MoonShadow on September 30, 2010, 07:08:19 PM

Quote from: theymos on September 30, 2010, 07:01:29 PM

Quote from: creighto on September 30, 2010, 06:58:18 PM

I did a quick Google search on the topic, and discovered an old Visa press release that stated that during the peak hour for the year of 2005 (Dec 23rd) Visa processed an average of 6,363 transactions per second, or just shy of 3.82 million transactions within a ten minute span.

That's a lot. Bitcoin won't allow blocks over 1MB, so assuming a (rather small) average transaction size of 216 bytes, Bitcoin can only handle 4,629 transactions per 10 minutes.

That hard limit is going to have to be bumped up if/when Bitcoin takes off. 463 transactions per minute wouldn't be anywhere near viable for a worldwide online currency. We, at least, need to be able to handle the number of average transactions per minute that paypal claims they currently average.

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Quote from: jgarzik on September 30, 2010, 07:11:51 PM

Quote from: creighto on September 30, 2010, 07:08:19 PM

That hard limit is going to have to be bumped up if/when Bitcoin takes off. 463 transactions per minute wouldn't be anywhere near viable for a worldwide online currency. We, at least, need to be able to handle the number of average transactions per minute that paypal claims they currently average.

+1

Scaling to high transaction rate has always been my main concern about viability of bitcoin. I'm much more concerned about scalability than government shutdown, for example.

A blast from the past. Cool

5 1/2 years should be enough to figure things out Grin

I understand necessity is the mother of invention.

Let's take inventory.........

What does core have besides SW?
What does classic have besides 2MB?

Can kickers, something about Rome...

I'm sure this post will please Elwar Grin