the last days I have thinking about the bitcoins and the technical issues that can have this currency, I am a computer science guy, with many interest in the global economy.
The first question that I want to ask is about the blockchain, the file that store all the transactions done in the network, the problem is that the current size of this file is about 7 GB, with only 100.000 bitcoin accounts, something insignificant to the global economy, still insignificant for a little country of third world.
What will happen when exists 10 , 100 or worse 1000 million of accounts, what will be the size of the blockchain file?.
If this file grow and grow this is not problem for the current tecnology, is more a problem againts the philosopy of bitcoin, because not all the people could be have the file in their own computers, then in the long run the system will tend to transform in something centralized, where only some organizations or very rich people would have a copy of the blockchain file, and the system will be more susceptible to be shut down if some power entity decides to do that.
What do you think about?, is like I am thinking? or am I missing some one about the design of bitcoin?.
Thank for your answers.