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Topic: All-time transaction record was just hit - page 2. (Read 8902 times)

administrator
Activity: 5222
Merit: 13032
but tell them what you told me in the pm.  its important for them to know that the tx's per block can be increased as was planned for by Satoshi.

Yeah, the 1MB max block size is an arbitrary limit meant to stop the chain size from expanding too quickly. The technical limit is much higher (probably at least a million transactions). Satoshi planned to increase the max block size when legitimate transaction volume made it necessary. This requires everyone to upgrade, but it can be rolled out over several years, so it's not a huge issue. Probably some other chain-forking change will be necessary before it becomes a problem.

The current average transaction count per block is ~60, so we're far from the limit.
legendary
Activity: 1764
Merit: 1002
https://en.bitcoin.it/wiki/Transaction_fees says it's 500KB per block. May be out of date.

500KB is the soft limit, which can be increased easily. 1MB is the "hard" limit, which is more difficult to increase.

but tell them what you told me in the pm.  its important for them to know that the tx's per block can be increased as was planned for by Satoshi.
administrator
Activity: 5222
Merit: 13032
https://en.bitcoin.it/wiki/Transaction_fees says it's 500KB per block. May be out of date.

500KB is the soft limit, which can be increased easily. 1MB is the "hard" limit, which is more difficult to increase.
legendary
Activity: 1764
Merit: 1002
from theymos:

http://blockexplorer.com/q/avgtxsize

Bitcoin uses decimal megabytes and the block header is included in the byte count, so the max number of transactions assuming a size of 449 would be (1000000-80)/449=2226.
legendary
Activity: 1764
Merit: 1002
theymos says there a max of 1MB data per block
bpd
member
Activity: 114
Merit: 10
https://en.bitcoin.it/wiki/Transaction_fees says it's 500KB per block. May be out of date.

Block http://blockchain.info/block-index/217018/0000000000000189d250023b778a2f8e6f45b5d5e4de8fa79b7854aabd1af95b is 293KB with 810 transactions, 677 of which are due to satoshidice
legendary
Activity: 1890
Merit: 1086
Ian Knowles - CIYAM Lead Developer
Isn't there a 1000-txn per block limit in place? Seems like satoshidice could cause that to be hit very quickly.

Isn't the limit 1 MB of tx data rather than x # of tx's?
legendary
Activity: 1764
Merit: 1002
Isn't there a 1000-txn per block limit in place? Seems like satoshidice could cause that to be hit very quickly.

that can't be right.
legendary
Activity: 1008
Merit: 1023
Democracy is the original 51% attack
Isn't there a 1000-txn per block limit in place? Seems like satoshidice could cause that to be hit very quickly.

I've never heard of such a thing, but it would be pretty silly. That would mean only 144,000 transactions could happen in a day if they happened perfectly evenly. Not suitable for a currency that will take over the world Wink
hero member
Activity: 950
Merit: 1001
Isn't there a 1000-txn per block limit in place? Seems like satoshidice could cause that to be hit very quickly.

Then maybe people will start paying fees. Tongue
legendary
Activity: 1764
Merit: 1002
Bitcoin looks alot healthier than this:

bpd
member
Activity: 114
Merit: 10
Isn't there a 1000-txn per block limit in place? Seems like satoshidice could cause that to be hit very quickly.
legendary
Activity: 1764
Merit: 1002
well, a currency has to start somewhere and its very good news that the absolute # of tx's is going up like that.  at this pt we just want ppl to use them and create a monetary velocity.
hero member
Activity: 563
Merit: 501
betwithbtc.com
I'd say the value of daily transactions is more important.  http://blockchain.info/charts/estimated-transaction-volume-usd
legendary
Activity: 1764
Merit: 1002

The transactions are actually real people placing real bets, so I guess they are legitimate for the transaction count, right?


shame on you.  of course they're legitimate.  these are real ppl using real Bitcoins for a real purpose.
legendary
Activity: 1008
Merit: 1023
Democracy is the original 51% attack

http://blockchain.info/charts/n-transactions

Now, this is actually misleading, because the vast majority of the huge spike in the past couple days was SatoshiDice.com. But, numbers are numbers and we just hit the all time Bitcoin transaction record Wink The transactions are actually real people placing real bets, so I guess they are legitimate for the transaction count, right?

To Piuk (blockchain.info owner), I might suggest you make an additional transactions chart like the above but remove all transactions to or from the 1dice addresses. Smiley
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