Bitcoin Blockchain Data Size Comparison to Today’s Hottest Technology

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Bitcoin is as innovative a technology as it gets. It is quite possibly the most important technology that has ever existed, potentially more impactful than the Internet before it. Without the internet, cryptocurrencies might never exist, but Bitcoin could forever change the face of money and with it, control.

As powerful and potentially as disruptive as the underlying technology and asset are, the Bitcoin blockchain only represents around 350 GB of data. We explore what this means and compare the breakthrough technology that is the very first cryptocurrency against other data-hungry technologies that we are all used to today.

From virtually worthless to $ 50,000 per coin

Bitcoin’s price is trading near $ 50,000, but the price doesn’t really matter anymore – it’s here to stay. Countries are now adopting cryptocurrency as legal tender, and for this reason some of the biggest brands in the world have to accept BTC at retail.

Times are changing, but cryptocurrency started out virtually worthless. First transaction for real-world goods cost 10,000 BTC for two Papa John’s pizzas

Today, it’s worth around half a billion dollars at current prices.

Related reading | 50 years later: why Bitcoin is the new gold standard

In Bitcoin’s early days, the size of its blockchain was measured in megabytes, until it reached 1024MB, or a full gigabyte of data.

Today, that data is around 350 GB.

The zero to $ 50,000 trip lasted more than ten years | Source: BTCUSD on TradingView.com How the Bitcoin blockchain compares to other types of technology

With only 350 GB of data, the size of the blockchain is very efficient for the amount of value transacted through it. Let’s face it, even an Apple iPhone that fits in your pocket has around 256GB of data in the device. And unless you’re more of the baller, you’re not moving as much value through it as Bitcoin does through its network on a regular basis.

Even your most basic PC should come with a minimum of 512 GB, but more advanced computers and laptops should enter terabyte territory.

Related reading | This perspective shows what Bitcoin’s final stage looks like

A Sony PlayStation 5 offers 825GB, of which up to 667.2GB is available to users of the hottest console on the market today. At this size, almost two full Bitcoin blockchains could fit.

Your standard MicroSD flash memory card can reach up to 1TB of storage and measures only 11mm by 15mm. Still, it could contain at least three full blockchain networks with a trillion dollar market cap.

With such a small footprint, running Bitcoin doesn’t take a lot of data and helps ensure the longevity of the network.

Follow @TonySpilotroBTC on Twitter or via the TonyTradesBTC telegram. The content is educational and should not be taken as investment advice.

Featured image from iStockPhoto, charts from TradingView.com

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