Re: Can/should Bitcoin software be reconfigured to limit the # of miners?
1. So when it takes 20 minutes to produce one transaction, this 20 minutes has nothing to do with the number of people trying to produce a transaction at the same time? Example: What if only one person vs 1 thousand people was trying to do a transaction at the same time?
This ^^ is what i was talking about in my previous post... I don't mean to offend you, but you're talking about technical details based on wrong assumptions.
You really need to read the whitepaper, or at least a decent book or a series of blogposts by knowledgeable people before you continue on your quest for answers
It takes a very short time to produce a transaction. Transactions are created by your own wallet, and if your wallet would ever take 20 minutes to create a transaction, something must be wrong on your end.
An unlimited amount of people can create and broadcast an unlimited amount of transactions (well, from a physical point of view, there are limitations to the hardware and network connectivity).
But, i feel like answering these questions won't do you any good... you really need to brush up on the basics before you go any further... We're happy to answer your questions and applaud new people to enter our community, but we cannot give you private education on the basic principles... you need to do that by yourself, and if you have questions that aren't readily found in books, whitepapers and youtube video's: please ask them.
Good luck.