Hello,
I heard somewhere that there is a limit of 1 MB per bitcoin for the data related to the transaction of each bitcoin. I also heard that some bitcoin will be unusable (transaction will not be possible anymore for those bitcoin) starting next november because they will exceed their own 1MB limit.
Is there such a limit of 1MB per bitcoin?
It seems you're a bit confused about this
No problem:
In very simple words: you send bitcoins from an address you controll to a different address by creating a transaction. This transaction basically tells everybody you want to send coins from address A to address B. The transaction is signed by a private key only you hold.
Since such a transaction is actually a piece of text, it has a certain size.
The way it works: you create a transaction and broadcast it to the network, the bitcoin network bundles all these transactions, and puts them into blocks. At the moment, such a block has a size limit of 1 Mb.
On average, 6 blocks an hour are created by the network, limiting the amount of transaction text to 6Mb/hour.
You can add a fee (a sort of 'tip') for the person generating the block to give him an incentive to add your transaction to his block instead of somebody else's. The higher the fee, the more chance your transaction will be mined.
THIS IS A VERY RUDAMENTARY EXPLANATION, it is not 100% correct, but just to give you a basic idear about blocksizes.
