I am learning about bitcoins. I understand that bitcoins are stored on a ledger ledger itself is widely distributed and available for all parties. I also understand that the ledge stores all the previous bitcoin transactions for all the bitcoins.
Suppose in the hypothetical future, everybody moved to bitcoins, with no USD or other fiat currencies. What would be the ledge size in bytes due to all transactions that happened within a year? If you were to record all past transactions from the time bitcoins started, so you could track it, it seems to me it would quickly become a huge network bottleneck, as the ledger is update over the network. Even the size of the ledge itself might become a big concern, with transactions for within a few years.
Has anybody looked into this aspect of bitcoins?