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Expanding the Bitcoin Economy - Legitimate Businesses and Food

• jerf 16y ago
  "Bitcoin banks are institutions that allow customers to store their Bitcoins in an account with them to facilitate and speed up transactions, which now can take as much as 10 minutes to validate." Out of curiosity, what's the time complexity of BitCoin transactions over time? I have a basic understanding of how the system works but I've been curious as to how it's supposed to scale to, say, the size of a small country's economy from the computer science perspective. If a transaction is already taking "10 minutes", are we looking at hours or days after the economy expands, again just for the sake of argument, 100 times? (Yes, I've expressed skepticism here about the whole thing but I'm still interested in the system over all, and would love to be wrong about how it won't work, so I really am just asking about whether there's a computational complexity analysis somewhere I can look at.)
  • kiba 16y ago
    Lacking a computer science background, I do not understand "time complexity". In any case, the bitcoin network will adjust so that a transaction will occurs approximately every ten minute.