In the long run, won't the size of the blockchain be a problem for bitcoin?
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Great question. One that I had as well. The short answer is yes, if nothing were to change in terms of general technology advancement and the bitcoin blockchain itself, this would be a major issue. However that is very unlikely as it would require all advancements to be placed on pause. A megabyte was once seen as a huge amount of data, now it is seen as a rather small amount of data. By the time Bitcoin's blockchain is in the terabytes, this will be a small amount of data - Moore's Law indicates this trend will continue for the foreseeable future. Another aspect to think of is the Lightening Network (LN). With LN, micropayment channels allow a single bitcoin transaction to include many payments. LN may not end up being what is Bitcoin uses, however we can expect something along these lines. Litecoin has been successfully testing payments using Lightening Network.
Yes, it is a problem already because it has become too long and too heavy. That's why BTC has recently split into two.
Around $700, if you extrapolate todays' trends.
Actually the size of blockchain the bigger it gets the healthier this reflects on bitcoin and other crypto currencies as its a proof that massive transactions are going on in the ledger. For more info you are most welcome to join our highly engaged and active Facebook crypto group for more insights, analysis, discussions, ICOs, trading, predictions, bitcoin, altcoin and news: https://www.facebook.com/groups/cryptofans/