Can bitcoin be controlled?

In this post, you will find a list of possible benefits and drawbacks associated with bitcoin. You'll also read about how bitcoin is being regulated.

One major question to answer in regards to the future of bitcoin is: What happens when the Bitcoin network reaches its limit? As more people over the years begin using bitcoin, transactions rise and the blockchain size increases. The higher transactions take up data space that could otherwise be used for other transactions that would benefit from a larger amount of data space... 

We're currently at a point where the blockchain is growing too big for the Bitcoin network to handle. In the past, miners were able to spend their blocks to free up space for new items, but because of increased transaction processing power, this becomes increasingly difficult.

As these things happen, there will be a limit to how much more data can be added to the Bitcoin blockchain before this becomes an issue.. . . . To see if there is a limit to the size of the blockchain and how far it can grow,

we can do some math and go off of the initial block data size. The first Bitcoin block was only 1mb and this

has already been exceeded in just over 2 years. It's possible that eventually, the blockchain could grow up to more than 50gb in size. The average home computer is not going to be able to store something this large, so this is a big problem that must be addressed in the future.

There are some proposed solutions to this problem, but it will also have to do with how people use bitcoin. Because transactions need a place to be stored, they're placed into a block and then added onto the blockchain over time. If more people start using Bitcoin, we can expect more transactions to happen and therefore there will be more blocks added.

If the blockchain reaches its maximum limit, then transactions won't be able to be processed as quickly and maybe not at all. . . . One proposed solution is to split the blockchain up into various sections. This would essentially lead to a network of blockchains and thus we could come up with more than one public ledger that holds transaction data.

However, I don't think this is a reasonable solution, as there would likely be some conflict as to which network of chains people decide to use.