Gavin Andresen - 2011-02-10 22:55:36

I figure each bitcoin transaction is currently costing about $US 0.0003 (three-hundredths of a cent)

Here's the back-of-the-envelope calculation I used to get to that number:

Transaction size:  ~300 bytes.
Disk space cost:  0.05 $US per gigabyte (about $100 for a 2TB hard drive these days)
Bandwidth cost: 0.02 $US per gigabyte
CPU cost:  0  (bad assumption-- anybody want to try to come up with a better estimate?)

Size of bitcoin network:  ~10,000 nodes

Each transaction is currently sent across the network twice (once on its own, and once when it becomes part of a block).  It is stored on disk once.  So disk+bandwidth cost for one machine is:
 (0.05+0.02+0.02)*(300/1000000000)
... times 10,000 nodes gives $0.00027 per transaction.


Please check my work-- I usually screw up and add or drop an extra zero when doing these types of calculations.