Re:SecondMarket CEO: Wall Street Will Put 'Hundreds of Milli...
by zch on Thursday December 12, 2013 @03:33AM
(#6893452)
I'm not informed as much as I could be about bitcoins, but it's comments like these that make it even more daunting. Slow learning curve I guess.
What happens when the number of bitcoin transactions becomes too great for the network to handle? There is a finite number of computers, they can only process so many transactions at a time. If bitcoin became as popular as the US dollar, would there be enough nodes out there to handle a load of that magnitude? Or, for a more specific example: tomorrow every monetary transaction in the US is done using bitcoin, what happens?
What happens when the number of bitcoin transactions becomes too great for the network to handle? There is a finite number of computers, they can only process so many transactions at a time. If bitcoin became as popular as the US dollar, would there be enough nodes out there to handle a load of that magnitude? Or, for a more specific example: tomorrow every monetary transaction in the US is done using bitcoin, what happens?
I did appreciate your subtle sarcasm though. A++