Post
Topic
Board Altcoin Discussion
Re: rpietila Altcoin Observer
by
AnonyMint
on 26/07/2014, 09:26:35 UTC
If that is true, then the units might not be rare but blockchain space might indeed be very scarce (and then must be somewhat expensive). It is a useful perspective.

At 8 billion people and 1024 account balances each, and say 128 bytes per account storage, that is 1 Petabyte. That is the best the mini blockchain could do. One-time ring signatures would make it entirely intractable (100s or more of Petabytes) unless you increase the cost until the 8 billion are restricted.

Let's assume a 10 year goal of 1 billion x 8 account balances each, so 1 Terabyte which is one hard drive. And hard drive space doubles every 18 months, so in 17 years we can store 1 Petabyte on one hard drive. So the mini blockchain can scale.

So there is no scarcity, except for badchosen design (priorities).

P.S. we do have to discourage dust balances though.