Quote from: Zibbo on May 08, 2012, 10:41:41 AM

Quote from: tvbcof on May 08, 2012, 01:28:52 AM

Quote from: cypherdoc on May 08, 2012, 01:10:58 AM

take a look at this: https://bitcointalk.org/index.php?topic=79285.msg887490#msg887490

By my two-second calculations, if about half of the worlds population were using Bitcoin and making 2 transactions per day, a flat average would be about 70,000 transactions per second. To account for peaks which one typically finds in network service use, better bump that up to about 250,000 transactions/sec. Then one must consider the potential for DOS attacks.

Contrast this with the .25 (aka 1/4) transactions/sec at the current high.

As currently implemented, Bitcoin scales until it fails then that's all she wrote. Ultimately I would be more comfortable with a solution which anticipated 'sharding' of some sort, and it seems logical and workable to combine this with a multitude of crypto-currencies each tuned to offer various advantages to their user base.

Of course the 'money changers' would have a hey-day in such an environment, but that fine. Probably open systems would develop to make things less costly for end-users. Some guy had a link to such a project a while ago. I think it was on Docmeister's Bitcoin-2 post.

Vast majority of those 250000 transactions are going to be small transactions that need instant confirmation, which means they will not be handled directly by bitcoin network. There will be a bunch of payment processors who will provide instant confirmation functionality, and use bitcoin network itself to regularly balance the books between themselves.

So the Bitcoin network would rely on independent 'banks' of some sort to offload the accounting to? Or you believe that it could handle such traffic if it needed to?