That is the one thing that wasn't taken care of in the Bitcoin conception. Size of the blockchain.
Sure, storage is cheap (at the time), but if the BC gets to sizes that are no more manageable conveniently at the private level, and the initial blockchain download becomes so effin big that it takes months on a standard connection (let's say, for now... 50mbps or so), less and less private full nodes will be added to the network, while the mining companies continue growing. In the end, a few big miners survive. I am thinking about slow, indirect movements towards decentralization.
Some of these things are orthogonal. All you really need is the UTXO set if you've got no interest in the historical data. You could start out with a pruned blockchain if necessary (you'd want to wait a bit to make sure you were on the correct chain) or if UTXO checkpoints ever become a thing, that would be another option. Theoretically, miners don't even need that.
I agree, but look ahead under the fact that Moore's Law is broken. Even if storage/cent and speed grows in a linear way, the blockchain will grow faster.
The blockchain is growing linearly (1MB and max 4MB Segwit nonsense every 10 minutes) and will continue to do so unless the protocol is changed again. |
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storage is cheap
This is the truth. I've run pruned nodes for reasons but if you don't need to, there's little point. On the other hand, if you don't need that historical data, there's not much point to keeping it. It's a shame UTXO checkpoints have never been developed. |
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In my poor ass case, this would make the majority of my corn subject to tax (if i'd actually sell and buy back in 100%).
You might be waiting a long time for the fall to 40k again too. Just ask Mark K how that works as a strategy. |
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finally a wall worth to observe! looks massive! You will watch with awe how it's going to be sliced like butter when we break $50k next week. I miss walls being eaten up in two or three swallows. |
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I think the hardest part for newcomers is the first bull run followed by a hefty correction. It's hard to deal with the "I'm a genius" followed by the "shit I fucked up" roller coaster of emotions. Many of those newcomers sell and call it a loss. Some of the newcomers tough it out and live to see the next bull run with newfound confidence in the bitcorn.
This is a big reason to do the "don't invest what you can't afford to lose". Being down and in a shitty position can force you to do things that just make things worse. |
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I can only count on one hand, the amount of people who listened to me over the years and hodl.
Maybe it is because I am a shit salesman, but I'd gave it my best!
One truth in life is that people hear what they want to hear. I offered to sell a friend BTC and he immediately used it to buy one of the shittiest of shitcoins that someone else had told him he'd 'get rich quick' with. I also learned back in the days when it was common to pass a little around just for fun not to have people install a wallet on their phone and trust that they'd hear when you told them to make sure they backed it up. I'm sure my experience was not uncommon. |
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If you can time the market, with the past history of halvings, it's easy money.
Of course, a lot of people overrate their abilities but the effect is the same.
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I feel like that last one is a moving target and has been achieved several times in the past. |
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Wow, just noticed that Gold spiked to $2150, a new ATH.
I remember when we were hoping for gold parity. |
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You feel that? The way the FOMO clings to the air, Randy?
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ChAIrtBuddy.
Nice avatar!
Nice spot. Without even weird hands to give it away. |
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Don't forget the "How do I get my Bitcoin back if I lost my phone and didn't back up the wallet like you told me to?" |
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34741 On Binance and 34900 exactly on Kucoin. Buddy completely missed it.
He got the rough shape of it. Bear in mind CB is about observing walls rather than tracking price (there are other tools for that). |
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I should warn everyone that I fully intend to post computer related pictures on the way up this time too.
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Oh, my..you are right.
Apparently, squatters have rights in some states. Wow.
Well, Michigan is 15 years, NH is 20 years of continual occupation...and Alberta just abolished the "Squatters rights' altogether recently (and British Columbia and Ontario already did it beforehand).
I am not sure why US still has these somewhat ridiculous "rights" on the books; maybe so the available land is cultivated?
I believe that's what's referred to as "adverse possession". Even without that being in effect, squatters can be a pain (and expensive) to be rid of. |
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I am angling to buy another property too in 2025, but not for renting.
The idea is to "escape" hot summers here.
Potential areas: Canada, New Hampshire or Michigan (from more to less expensive, typically).
Some water view is a must, got tired of not seeing water on a daily basis (river, lake or ocean-whichever will do just fine).
I would suggest looking into how those localities handle squatters. I suspect we're going to see an increase in that kind of thing in the near future. |
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