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Bitcoin transaction logs already have over 60GB. If people start using it as a storage, its size will skyrocket and it will be unsustainable.
by jkot 11y ago
Bitcoin transaction logs already have over 60GB. If people start using it as a storage, its size will skyrocket and it will be unsustainable.
- aw3c2 11y agoNo, Bitcoin is the solution to all financial transaction woes, totally decentralised and the way for a better world!
- IkmoIkmo 11y agoThere's a price on storage. If you want to spend $0.05 for a few hundred bytes, you'll run out of money very quickly if you want to actually use it for typical file storage (e.g. your photo album or music library). But it's fine if you want to store or record for posterity something valuable, e.g. a $10m loan transaction [0] [0] http://www.wired.com/2015/10/hedge-fund-borrows-10m-in-stock-via-the-bitcoin-blockchain/ http://www.wired.com/2015/10/hedge-fund-borrows-10m-in-stock... There's been a lot of work going into a market for transaction fees based on a supply&demand model that'd make spam not just costly, but exponentially more costly if you want to scale it. It's not perfect but it's looking pretty sensible atm.
- ceejayoz 11y ago> If people start using it as a storage, its size will skyrocket and it will be unsustainable. If a misguided - not even malicious! - use case can make it unusable, maybe it's not destined to live all that long.