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So the size of the bitcoin block chain is apparently 130 GB right now. I was wondering, why didn’t they design it so transactions over a year old get deleted to save space?
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Because Bitcoin was a new emerging technology and nobody thought it would go anywhere
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>>64102640

If the charts are correct that's a 50% growth from jan '17 to jan '18.. in 10 years you would need large dedicated servers for it... no way it could remain a true p2p..
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>not dumping your entire life savings into Ripple

wew
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>>64102709
>>64102695
Bitcoin's Blockchain can be pruned when running. In fact, in order for it to be operating as a full-node, it only needs to store the UTXO's (think of this as like storing only the accounts that actually contain bitcoininstead of every single transaction ever made).
That said, I'm unsure if Bitcoin Core supports this mode as they've made it their mission to completely fuck up Bitcoin and have placed at least two out of three brackets around its name.
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>>64102814
Core supports pruning
Core is best performance wise
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>>64102762
i want to, but is there any exchange where signing up doesn't require 1month ID confirmation?
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>>64103297
I made an account on kraken and it was "upgraded" to tier 2 after 2 days
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>>64102640
they can't prune the chain
the whole point of the chain is to keep a record of every transaction,
and while keeping that record, it must be legitimate
to make sure it is legitimate, everyone running the chain must process from the first transaction until the last the hashes of the blocks
because of this, every block must be available to check legitimacy of the chain
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>>64102640
was wondering the same, they could do it like in book keeping. just transfer the balance of all wallets onto new blockchain and archive the old
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>>64103551
Then how would they know the new blockchain is legitimate?
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I had to check what board I was on. Bitcoin isn't perfect, it was the first attempt at a brand new concept. For that its still pretty fucking good. Not everyone needs to run a full blockchain, you can sync a wallet with any block height if you don't have very fast internet or a laptop with 1 drive, like many people do.
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>>64103297
Binance :DDDD
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>>64103563
>Then how would they know the new blockchain is legitimate?
some ((( authority ))) will vouch for its legitimacy lol
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>>64102640
I read that it is expected to grow approximately 5GB per month
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>>64102640
I read that the blockchain will grow approximately 5GB per month.
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the problem with bitcoin isn't the blockchain size (it can be pruned). The problem is the increasing transaction cost What's it at now, 130USD or something?
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Woah! 130 whole gigabytes! Its looks like its a big issue, if this was the year 2005!
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>>64103679
try downloading the client onto your phone
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>>64103741
You don't need a wallet that downloads the whole blockchain. See electrum.
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>>64102640
>what is a blockchain?
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>>64102762
>>64103297
>/g/ actually supporting Ripple

The absolute state of nu-/g/. You do realize the owners of Ripple can literally make it out of thin air. It's not backed by math. Its literally made by (((them))) and (((they))) are trying to coopt crypto.


Fuck you.
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>>64103654
Supposedly, you just get priority in mining if you pay higher fees. I've no idea how much you would "need" to pay in order to get processed is some kind of reasonable time.
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buy electroneum
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>>64104064
>blockchain will revolutionize the world
>blockchain will upheave financial systems everywhere
>blockchain will destroy george soros
>blockchain will destroy the patriarchal government
>blockchain will destroy the 1%
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>>64104293
>owners of Ripple can literally make it out
they can't ""make it out"", all ripple has already been mined.
it's true that they have over half of overall coins and can somewhat control amount of ripple in the market, but that's a good thing in this case
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>>64102814
((((((((((((they)))))))))))))))
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>>64102640
Shut the fuck up, Clem Fandango.
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>>64104668
>blockchain solves the problem of spacetime
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>>64103610
The whole point of is decentralization though. If some central authority has this much power than I don't consider that to be very decentralized.
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>>64102640
nice, Toast of London
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By the time the blockchain hits 1000GB, 3TB drives would be under $50 new.
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>>64102640
the original idea was to record all transactions, unfortunately, there's no real solution to the blockchain size, or create a new Bitcoin fork or an altcoin, with some people including myself don't think this is always a good idea

who knows? maybe Ethereum finds a solution to this problem considering Ethereum blockchain can increase its size way more than Bitcoin because of Dapps, transactions, altcoins tokens
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>>64102762
>XRP for bad mojo gains
>XLM/STR for long term comfy hodling
>BWK is a few weeks old and surpassed already 10 USD per coin
come on, DYOR
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>>64103603
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>>64102640
You can't "delete" transactions. In order for a person to prove their balance exists, they have to point to all of their previous transactions as proof.
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>>64111001
Says who? You can just take the balance from a year ago and only calculate all transactions after that point.
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>>64111390
>what is "proof of stake"?
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>>64102640
Bitcoin defaults to a lite node so most users don't have to download the entire block chain. Rather than deleting old transactions what might make more sense is to compress old blocks, if that's even possible.
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>>64104503
>pic
eyy, thanks for the nostalgia
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>>64105851
>Centralization is good for a decentralized currency
Go fuck yourself idiot
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>>64111664
>most users don't have to download the entire block chain
if that is the case, why the 1MB block limit.

reminder bcore is not the real bitcoin.
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>>64102640
the blockchain tech was created by an A.I.
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>>64113961
The alternative is Bitcoin.

Bitcoin is too unstable for what it wants to be.
Instead of being used to transfer funds without the restrictions of normal currency people are sitting on it like it is an investment. Companies are hyping it up and prospecting it which is causing most of the inflation but as it does so it becomes more and more of a pain to actually use for exchanging funds.

Bitcoin failed in meeting the goals envisioned in its creation. What we ended up with is just a new set of "banks" to get rich off our money.
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>>64114018
Because if they had implemented a 8MB block size the block chain would be over 1TB in size and it really would be inhibitive to the average user to download the whole block chain.
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>>64114562
it already is.
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>>64114591
You're kidding, right? I downloaded 500GB in a few hours a week ago and I don't even have any HDDs in my PC.
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>>64114524
>the alternative is bitcoin

Stopped reading there. Stop speaking you fucking retard.
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>>64115995
>Stopped reading there.
Because you're an idiot.
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>>64102640
They're are other cryptocurrencies that work like that. Bitcoin could adopt something like that, but it probably won't. The Bitcoin community seems very resistant to protocol changes; I suspect this will be their ultimate downfall to more modern cryptocurrencies.
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>>64114018
>if that is the case, why the 1MB block limit.
Artificial limitation to prevent a block size attack/allow blocks to propagate faster.

The actual number is kind of arbitrary.
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>>64114632
>I downloaded
>I
we are talking about the world, not a soy goy with fiber up his ass
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>>64116257
Not even fiber faggot

Do you think people just sit around repeatedly downloading and redownloading the block chain? Even if you wanted to run a full node (most people don't need or want to) you would download it once and then receive new blocks as they are found.
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>>64116075
Ripple is shit and stop shilling your centralized co-opted bullshit on a technology forum. Ripple has been and always will be a joke in the realm of cryptocurrencies.

If you want to use Ripple fine. But don't equate it to anything related to crypto you fucking dunce.
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>>64113961
It's not centralized lol. Just not mineable
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>>64103219
actually libbitcoin is the best performing.
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>>64102762
nice meme
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>>64114524
autism speaks
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>>64114018
>>reminder bcore is not the real bitcoin.
fuck off, roger.
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>he cares about the dinosaur shitcoin bitcoin
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>>64116417
>implying i give a fuck as long as it makes me money




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