Quote from: Lazer on March 13, 2013, 01:05:53 AM

Quote from: Nicolai on March 13, 2013, 01:04:13 AM

Max block size is 1 mb

So this should not happen (as long as the max blocksize isn't changed)

But theoretically, it can happen given enough transactions.

No. Not as long as the block size can't be > 1 mb.

Quote from: knightmb on March 13, 2013, 01:27:56 AM

Maybe, but that is not counting the CPU time and disk I/O time. I know if I haven't run bitcoin for a while and it's a few weeks behind it takes all day just to catch up.

I believe even my Nokia 3310 can download and verify 1 mb transaction within 10 minutes (exaggeration furthers understanding).

Catching up many blocks takes time, yes, but in theoretically you 'just' need to download+validate one block within 10 minutes and you will be able to catch up.

Quote from: MysteryMiner on March 13, 2013, 02:21:10 AM

If the block size remains unchanged, in far future there will be high transaction costs so no Satoshi Dick style transaction flood will take place. 1M in every 10 minutes are not that much. JewTube videos take at least 10 times as much traffic as Bitcoin under worst conditions.

See this mail from Gavin (sent 6 hours ago):

Quote from: Gavin Andresen

OF COURSE we're going to raise the block size limit. Limiting the main
blockchain to single-digit transactions-per-second is not an option,
the vision FOREVER has been to scale it up.

Source: https://sourceforge.net/mailarchive/message.php?msg_id=30595784

As long as the new limit is not something crazy (like one gazillion mb pr block), then this is not a problem. Bitcoin got 99 problems but a ~~bitch~~ this ain't one Wink

One important thing to keep in mind, is this:

Quote

Several measures of digital technology are improving at exponential rates related to Moore's law, including the size, cost, density and speed of components.

( https://en.wikipedia.org/wiki/Moore's_law#Other_formulations_and_similar_laws )

Also, people seems to forget this:

Quote from: justusranvier on March 13, 2013, 01:07:48 AM

A miner who publishes a block that propagates slowly risks an orphaned transaction. If another mines a block at about the same time, and if the second block propagates more quickly through the network, other miners will start working from the faster block before they see the slow block.