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I really like the ideas behind Bitcoin. However, the system requires every single on-chain transaction to be stored and mirrored on every single full node in ex

by cevi 5y ago

I really like the ideas behind Bitcoin. However, the system requires every single on-chain transaction to be stored and mirrored on every single full node in existence. As more people adopt Bitcoin, and as time continues to advance, this makes the storage requirements grow to insane amounts. Whether hard drive storage space will be able to keep increasing quickly enough to keep pace is unclear to me.

tromp 5y ago
Storage space tends to grow exponentially over time (and will certainly keep growing super-linearly), while the blockchain size grows only linearly. So that's not a big concern.
- teorema 5y ago
  But even if it grows linearly in transactions, that depends on transaction growth which might not be linear... and that's still independent of what's tolerable for a typical user. I was going to post something related, which was when I tried bitcoin for purchases, the whole thing involved way too much faff and was too slow for everyday use. Maybe for some purchases but not for everything I might do online. I guess if you had an account in bitcoin but then you're back to banks etc which might defeat the purpose slightly.