

Expanding the Bitcoin Economy - Legitimate Businesses and Food - kiba
http://bitcoinweekly.com/articles/expanding-the-bitcoin-economy-legitimate-businesses-and-food

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jerf
"Bitcoin banks are institutions that allow customers to store their Bitcoins
in an account with them to facilitate and speed up transactions, which now can
take as much as _10 minutes to validate_."

Out of curiosity, what's the time complexity of BitCoin transactions over
time? I have a basic understanding of how the system works but I've been
curious as to how it's supposed to scale to, say, the size of a small
country's economy from the computer science perspective. If a transaction is
already taking "10 minutes", are we looking at hours or days after the economy
expands, again just for the sake of argument, 100 times?

(Yes, I've expressed skepticism here about the whole thing but I'm still
interested in the system over all, and would love to be wrong about how it
won't work, so I really am just asking about whether there's a computational
complexity analysis somewhere I can look at.)

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kiba
Lacking a computer science background, I do not understand "time complexity".

In any case, the bitcoin network will adjust so that a transaction will occurs
approximately every ten minute.

