Quote from: TopSoil on July 13, 2010, 01:05:24 PM

This seems like a great idea but I also don't understand how it will scale? I'm assuming the goal of bitcoin is to be at least as big as paypal right?

I see 3 scaling issues:
1) Having every node need to know about all transactions that happened ever.
2) Keeping the network connected
3) Amount of coins scaling with increased economic activity.

1) Actually, from what I read in the PDF, I don't think it's necessary. It only needs to know that a transfer of *this* coin from Owner A to Owner B was valid. It doesn't matter if 1 year ago, Owner C gave Owner A that coin.

2) It's P2P, someone out there will be connected. I run a 24/7 Dedicated Server just for Bit Coin now on a Fiber connection. Not because I work with them, but because I see the need to donate the resources for the cause.

3) Don't let the 21 million limit fool you. It's more like 21000000.00000000 limit because the coin is so divisible, but for sanity reasons, it would make sense not to be trading coin in the Quadrillion Bundles Wink