Post
Topic
Board Bitcoin Discussion
Re: Size of public ledger?
by
inBitweTrust
on 21/07/2014, 21:25:23 UTC
Anyone got real answers to my questions?

Or am I the only one that understands dataloads, bytes, bandwidth, drive limitations, etc

Welcome to bitcoin, no worries to scalability problems as this was known and heavily considered even before the genesis block was mined.

first thing that answers some of your concerns is satoshi's original whitepaper, start there:
https://bitcoin.org/bitcoin.pdf

Than here:
This https://en.bitcoin.it/wiki/Scalability

A few solutions that will all solve your concerns-
1) Ignores the fact many options on the table as even discussed in Satoshi's original whitepaper like pruning unnecessary data about transactions that are fully spent-
bitcoin.org/bitcoin.pdf
using a merkel tree -  http://bitcoin.stackexchange.com/questions/10333/blockchain-long-run-issue
2) An audited decentralized Payment Verification network of nodes can also be used that isn't dependent upon trusting any source. The data could also be spread out evenly accross the miner network much like bit-torrent uses to store much higher amounts of data.
3) This ignores the scalability of memory storage and the drastic reduction in both price and size that is expected with a whole new set of technologies in the future
4) Another solution - http://www.bitfreak.info/files/pp2p-ccmbc-rev1.pdf

More data -
https://bitcointalk.org/index.php?topic=88208.0

Why hasn't this already been implemented? Developers will roll out changes as soon as the blockchain size becomes unreasonable; why fix something that isn't broken right now.