/biz/ - Business & Finance

Anonymous Tue Sep 1 09:08:42 2015 No.877534 [View]
File: 24 KB, 601x353, bitfury_report.png [View same] [iqdb] [saucenao] [google]

BTW, if you don't believe me on the catastrophic effects of increasing block sizes (increasing number of transactions), then take it from Bitcoiners themselves.

Pic related, it's from a report on the effects of a block size increase Bitfury (makers of the AntMiner machines) just released.

Note the daily traffic bandwidth usage and RAM usage.

For just 28 transactions per second (8MB blocks), you need 32GB RAM and 100GB of bandwidth a day. That's 3TB a month. No residential ISP is going to allow this; you will be cutoff in line with their 'Fair use' policy, even if you have a supposed 'unlimited' plan. Nodes will drop like flies, and no nodes = no network!

That's what you face when just trying to scale Bitcoin up to 28 transactions per second.

VISA does 2,000 transactions per second on average, with a peak capacity of 56,000 transactions per second.

So much for >muh global network, >muh remittances

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