Mt. Gox Files for Bankruptcy Protection

Re:Mt. Gox Files for Bankruptcy Protection by nadaviv on Friday February 28, 2014 @10:05AM (#7319020)

This isn't realistic for an exchange. They have an enormous transaction volume, which is represented as internal/off-chain transaction in an internal accounting system.

Using multi-signature transactions requires every fund transfer to be represented as a Bitcoin transaction, which the Bitcoin neAtwork simply can't handle.

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Re:Mt. Gox Files for Bankruptcy Protection by M4v3R on Friday February 28, 2014 @02:42PM (#7320976)

Since we are a P2P exchange, we don't foresee to have more than few dozens transactions per minute when we grow big. I'm sure the Bitcoin network can handle such volume.

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Re:Mt. Gox Files for Bankruptcy Protection by o_s_m on Friday February 28, 2014 @07:04PM (#7322389)

The protocol can only handle 7 transactions per second.

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Re:Mt. Gox Files for Bankruptcy Protection by jzwinck on Friday February 28, 2014 @08:21PM (#7322648)

The system is currently configured with a limit of 7 TPS. But the limit can be lifted, according to https://en.bitcoin.it/wiki/Scalability

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