Monday, 28 March 2016

Would you agree this is a better measure for how full blocks really are (18%)?


If we take the number of transactions excluding chains longer than 10 as a good measure for "normal" transactions (http://bit.ly/1SqFy5X) we find there are about 70,000 transactions per day. If a wallet paid someone 1 btc in one transaction output and they then transferred that to cold storage the same day that would be a chain of two. So a chain of 10 is already suspicious. A "normal" transaction with 2 inputs and 2 outputs is 374 bytes. Bitcoin can do 1,000,000/374 x 6 x 24 = 385,000 of those per day. From this we would conclude that bitcoin blocks are about 18% full (70,000/385,000). via /r/Bitcoin http://bit.ly/1UpB5Uv

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