That's an extinction sized blockchain in the not too distant future.
That's an extinction sized blockchain in the not too distant future.
I have a copy of the blockchain on my laptop, and I just recently sync'd it. The current size now is only 1.1 GB. That quite a ways from 'extinction' size...
The solution to the increasing size, if it ever becomes an issue, could simply be some kind of unalterable archiving of transactions which are only maintained for historical purposes and currently not being removed from the active blockchain data file. Having both an active file and an archival file would speed up transactions while still allowing historical records maintenance.
As for Mt. Gox, we all know it was a mighty tempting and central target for an attempt to destroy Bitcoin. I have no inside knowledge, but would assume that the CEO may have been encouraged to work with governments and bankers to accomplish in their minds, what they consider a 'kill shot' to Bitcoin and damage all Cryptocurrencies in the process or at least buy time by setting them back.
It's indeed a set back and has left many casualties. But give credit were credit is due to who really caused it. To begin with, who shut down Mt. Gox's U.S. direct banking connections? That's when the fiat transfers began in pileup in earnest. Could they have also forced Mt. Gox's CEC to become a pawn to a planned takedown at the time? Perhaps threatening him with jail time or bankruptcy if he didn't go along? Have you noticed how the authorities don't seem concerned that MT. Gox may have stolen their customer's assets?
For those of you remain supporters, don't put all of your eggs in one basket, and if you're going to stay involved, stay involved and adjust to the changing circumstances.
Take a good look at your exposure and look for ways to minimize it. Numerous, smaller, and local exchanges are much harder to take down by TPTB than a few large central ones, as well as direct exchange of good and services using Btc or Crytpo, instead of having to convert to some form of fiat as the actual medium of exchange.
Just my 0.00004 Btc worth (at the current price)...