Some numbers:
Summary for HODLers: Paypal = 10 MM tx/day. LTC = 1kB/tx. Storing 10 GB every single day = many alot. This bad bad for LTC future "decentralized shared".
VISA = > 150 MM tx/day. Story 1500 GB every single day is nono. Litecoin no moon Litecoin no replace banks. Whole code has to be redevelopped from scratched IF it even was possible to make something better.
VISA handles on average around 2,000 transactions per second (tps), so call it a daily peak rate of 4,000 tps. It has a peak capacity of around 56,000 transactions per second, however they never actually use more than about a third of this even during peak shopping periods.
PayPal, in contrast, handled around 10 million transactions per day for an average of 115 tps in late 2014.
Each transaction has to be
broadcast twice, so lets say 1KB per transaction. Visa processed 37 billion
transactions in FY2008, or an average of 100 million transactions per day.
That many transactions would take 100GB of bandwidth, or the size of 12 DVD or
2 HD quality movies, or about $18 worth of bandwidth at current prices.
If the network were to get that big, it would take several years, and by then,
sending 2 HD movies over the Internet would probably not seem like a big deal.
I just copy pasted text from bitcoin wikipedia and from Satoshi posts.
I could not find exactly what the size of a LTC transaction was, could probably calculate it with the size of the whole thing and how many tx have been made, but let's say it is 1KB each I know it is something arund that if not wrong.
Paypal = 10MM/day. You got 10 GB a day of new data to download...
Every single day... Like downloading a new game on steam.
I am not even calculating it if it "replaces banks and VISA (rofl)" as some "visionaries" think.
365 days = 3.6 TB.
10 years = 36 TB.
Ye but it is no problem we just get 1000 TB hard drives in 10 years, and bigger and bigger it will grow infinitely rite?