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Speaking in Davos on Wednesday, JPMorgan CEO and also a well-known bitcoin critic Jamie Dimon made a suggestion that Satoshi Nakamoto might lift the limit on the number of bitcoins, which as we know is 21 million BTC. How would you comment on such a statement?
Satoshi Nakamoto can not and we can not. JP Morgan CEO, Jamie must do his research and learn about basics. His statement like this means he did not do any research and did not find any basic about Bitcoin. How is the 21 million bitcoin cap defined and enforced? |
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Day 12{
"chain": "main",
"blocks": 826391,
"headers": 826396,
"bestblockhash": "00000000000000000001e85f7b3b5fb30a6b067f26ede6d174c8d6b5b59c1932",
"difficulty": 73197634206448.34,
"time": 1705656425,
"mediantime": 1705652580,
"verificationprogress": 0.9999856862007611,
"initialblockdownload": false,
"chainwork": "000000000000000000000000000000000000000066306987703f483fccd0aeb8",
"size_on_disk": 4922961344,
"pruned": true,
"pruneheight": 823901,
"automatic_pruning": true,
"prune_target_size": 4999610368,
"warnings": ""
}
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Day 11{
"chain": "main",
"blocks": 826272,
"headers": 826272,
"bestblockhash": "00000000000000000001043677412d0663b605be09f2a83c16bc36158666cb39",
"difficulty": 73197634206448.34,
"time": 1705588058,
"mediantime": 1705585073,
"verificationprogress": 0.9999938646364378,
"initialblockdownload": false,
"chainwork": "00000000000000000000000000000000000000006611773cdeb550fcc94ca2b9",
"size_on_disk": 4849004285,
"pruned": true,
"pruneheight": 823824,
"automatic_pruning": true,
"prune_target_size": 4999610368,
"warnings": ""
}
No, it's usually faster to sync than mainnet at least from my own experience (never timed it but as far as I remember you can sync within a few hours)
I tried to sync it like 5 to 10 minutes and even in early years, syncing speed is not too fast.
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Day 10{
"chain": "main",
"blocks": 826126,
"headers": 826127,
"bestblockhash": "00000000000000000000699a220d87f2a0f4330db05998df95045f7bf742fe26",
"difficulty": 73197634206448.34,
"time": 1705494037,
"mediantime": 1705491859,
"verificationprogress": 0.9999928881227845,
"initialblockdownload": false,
"chainwork": "000000000000000000000000000000000000000065eb7f73ab1280479c1ca537",
"size_on_disk": 4866025170,
"pruned": true,
"pruneheight": 823673,
"automatic_pruning": true,
"prune_target_size": 4999610368,
"warnings": ""
}
I have a question. Does syncing a Testnet Bitcoin Core node take a similar time like on Main net?
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I also want to know if I can change mine by contacting staff members.
You created your account, made 28 spam posts and want to change username ? |
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Day 9{
"chain": "main",
"blocks": 826046,
"headers": 826046,
"bestblockhash": "00000000000000000002e4a94ba0e9844d38c5c47b3bad5a1fad8f2adfdbcbca",
"difficulty": 73197634206448.34,
"time": 1705419946,
"mediantime": 1705417194,
"verificationprogress": 0.9999979840229105,
"initialblockdownload": false,
"chainwork": "000000000000000000000000000000000000000065d6b18aae5718709be64b67",
"size_on_disk": 4863512154,
"pruned": true,
"pruneheight": 823601,
"automatic_pruning": true,
"prune_target_size": 4999610368,
"warnings": ""
}
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Day 8{
"chain": "main",
"blocks": 825872,
"headers": 825872,
"bestblockhash": "00000000000000000003a482ff150df4173dc49f68fcff17fcbdcade1d32ca7e",
"difficulty": 73197634206448.34,
"time": 1705307140,
"mediantime": 1705303460,
"verificationprogress": 0.9999983652679223,
"initialblockdownload": false,
"chainwork": "000000000000000000000000000000000000000065a971afef0c49c9c83ce1a9",
"size_on_disk": 4982110017,
"pruned": true,
"pruneheight": 823349,
"automatic_pruning": true,
"prune_target_size": 4999610368,
"warnings": ""
}
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Day 7 {
"chain": "main",
"blocks": 825181,
"headers": 825739,
"bestblockhash": "00000000000000000001a79d1975ec91e1b56d917ba0b7d512d85f7ba2987b9c",
"difficulty": 73197634206448.34,
"time": 1704917250,
"mediantime": 1704914960,
"verificationprogress": 0.998251616877296,
"initialblockdownload": true,
"chainwork": "000000000000000000000000000000000000000064f5bf2381acc5abe99aa04e",
"size_on_disk": 4588482660,
"pruned": true,
"pruneheight": 823349,
"automatic_pruning": true,
"prune_target_size": 4999610368,
"warnings": ""
}
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Day 6 {
"chain": "main",
"blocks": 798845,
"headers": 825609,
"bestblockhash": "000000000000000000015ac1274dfe28392050286cd7dae1242d2cc4a0eefbdb",
"difficulty": 53911173001054.59,
"time": 1689456577,
"mediantime": 1689454326,
"verificationprogress": 0.9091777796478837,
"initialblockdownload": true,
"chainwork": "00000000000000000000000000000000000000004eeb21f60f210841fcd62736",
"size_on_disk": 4429001273,
"pruned": true,
"pruneheight": 796653,
"automatic_pruning": true,
"prune_target_size": 4999610368,
"warnings": ""
}
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Day 5 {
"chain": "main",
"blocks": 760754,
"headers": 825417,
"bestblockhash": "0000000000000000000278f7981fe8ccc73eae3ed05a5e2099c78a9279545b47",
"difficulty": 36835682546787.98,
"time": 1667008377,
"mediantime": 1667006318,
"verificationprogress": 0.8158092911145052,
"initialblockdownload": true,
"chainwork": "0000000000000000000000000000000000000000382ee6c89f31054ca7303c7d",
"size_on_disk": 4729651672,
"pruned": true,
"pruneheight": 757181,
"automatic_pruning": true,
"prune_target_size": 4999610368,
"warnings": ""
}
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You can of course use prunednode.today, and download a pruned node. I just tried: it took my server 75 seconds. But you'll never be absolutely sure it's completely legit. And if enough people do it, someone will find a way to scam them. This guy knows a thing or 2 about the subject: FWIW, I just removed a nearly year old post with a .bitcoin directory download that would have stolen all your bitcoins.
Case in point as to why these "download the blockchain" links are a disaster. God knows how many people got robbed due to it. But the chainstate database/etc. aren't intended as external interfaces and I would be totally unsurprised if there was a way for malicious data in them to result in code execution. Thank you. Downloading whole blockchain is necessary to verify that all transaction and block follow Bitcoin protocol/consensus. And if OP want more recent data, he can check https://bitcoin-snapshots.jaonoct.us/. I haven't tried it, but the owner also provide assumeutxo file which should be better than copy of Bitcoin Core folder. Thank you too. The reason for IBD is to ensure that the chainstate is built correctly, hence all of the unspent outputs are correctly indicated. It would then be impossible for a rogue node to falsify transactions with inputs that doesn't exist. Risk is relatively low, but it doesn't mean that it is impossible. If you are unable to conduct IBD for your Bitcoin Core node, I would recommend using an SPV wallet instead.
Thank you too. From your replies, I understand like chainstate is important to check status (spent or unspent of UTXOs from previous blocks) and it will be stored on my Bitcoin Core prune node. Other data will be deleted after IBD. |
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Day 4 {
"chain": "main",
"blocks": 717517,
"headers": 825323,
"bestblockhash": "00000000000000000000e88e2bbbe30272f0cd19275dbc162e2360c54720899d",
"difficulty": 24272331996979.97,
"time": 1641515813,
"mediantime": 1641514043,
"verificationprogress": 0.7371118370101215,
"initialblockdownload": true,
"chainwork": "000000000000000000000000000000000000000026a40f3b42502fdee748009a",
"size_on_disk": 4627989965,
"pruned": true,
"pruneheight": 714921,
"automatic_pruning": true,
"prune_target_size": 4999610368,
"warnings": ""
}
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Thank you. I have another question. IBD, why every node has to do it? If I only run a prune node, I can not use my node to check too old block details like genesis block, because it exceeds my prune node limit. I feel it is like unnecessary to sync it from genesis block. It is more convenient if I set my prune node is 50 GB and I start directly at a past block that accounts for 50GB data till the current newest block. Block 0 https://blockchair.com/bitcoin/block/0hash 000000000019d6689c085ae165831e934ff763ae46a2a6c172b3f1b60a8ce26f I get this Block not available (pruned data) (code -1)
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My prune node today. {
"chain": "main",
"blocks": 653830,
"headers": 825130,
"bestblockhash": "0000000000000000000ae96fa57033cd841328f2e384eb9578958f4ef62c000c",
"difficulty": 19997335994446.11,
"time": 1603370689,
"mediantime": 1603368137,
"verificationprogress": 0.6104811576528744,
"initialblockdownload": true,
"chainwork": "000000000000000000000000000000000000000014f755b28a789431ddc81fea",
"size_on_disk": 4452907203,
"pruned": true,
"pruneheight": 650793,
"automatic_pruning": true,
"prune_target_size": 4999610368,
"warnings": ""
}
NotATether, is it count as my Day 2 or more? Yes, everyone can join.
Yesterday result. I run the prune node since 3 January.Thank you. |
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I am running a prune node. I read that Bitcoin Core will connect my node to most remote node. Can I add extra nodes that are more close to me, to speed up the syncing? 2. Bitcoin Core happen connect to node with slow connection speed or physically very far from where you live (which cause slower download speed).
You can try close and reopen Bitcoin Core in order connect to different full nodes, but don't expect much difference.
Where to find the node list? |
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My prune node today. 44.7%. {
"chain": "main",
"blocks": 580794,
"headers": 824987,
"bestblockhash": "000000000000000000181726006a4ff8bf4db7cfad46aa5e0b8daa3b46759b86",
"difficulty": 7409399249090.253,
"time": 1560570497,
"mediantime": 1560567947,
"verificationprogress": 0.4469682672667246,
"initialblockdownload": true,
"chainwork": "000000000000000000000000000000000000000006afcf56ae8a47c3cbb86143",
"size_on_disk": 4850407692,
"pruned": true,
"pruneheight": 577447,
"automatic_pruning": true,
"prune_target_size": 4999610368,
"warnings": ""
}
I was busy yesterday and forgot to post the progress. Apologies!
Can I join, please I actually run the node 7 days. |
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Yes, everyone can join. No, it will not kill your disk. The workload is equivalent to downloading a 600GB file in your browser and scanning it for viruses. Will that break your disk? No. No matter whether it is an HDD or SSD.
With this speed, it is quick enough but I want to learn How to set dbcache? How to know how the sync progress kills % of my disk life? I have Core i7, 8GB RAM and think I won't to do anything with dbcache, want to know only. |
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Can I join it? I actually run a prune node since 3 Jan but on my desktop because I have my laptop to repair something for a few days. The syncing on desktop is very low. Today, I copied the prune node data to my laptop, and it syncs very quickly.       {
"chain": "main",
"blocks": 420024,
"headers": 824850,
"bestblockhash": "00000000000000000165e59d1ba94b2b386a4d80aa318077941ac020c979e432",
"difficulty": 213398925331.3239,
"time": 1468095911,
"mediantime": 1468095039,
"verificationprogress": 0.1489870150749924,
"initialblockdownload": true,
"chainwork": "0000000000000000000000000000000000000000001f2d93b0bc10f3ee0455d7",
"size_on_disk": 3332447503,
"pruned": true,
"pruneheight": 416588,
"automatic_pruning": true,
"prune_target_size": 4999610368,
"warnings": ""
}
Reading LoyceV's posts, I am worrying that it will kill my laptop and its disk. Should I continue? |
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Bitcointalk is a forum for a decentralize money bitcoin and other cryptos.
It is for Bitcoin as its main use. When Bitcoin created by Satoshi Nakamoto, there were not many altcoins like now. There were some few altcoins before Bitcoin creation but Bitcoin success made developers think they can build up successful altcoin projects and they created many altcoins like we have now. I believe bitcointalk should be hosted on decentralize hosting and decentralize domain name or there should be a back up or mirror site for bitcointalk.
Do you know any decentralized server hosting service? We don't know the future they could ban bitcoin and also ban bitcointalk.org and other websites that supports bitcoin.
If Bitcoin is banned, dead, do we need Bitcointalk? USA getting desperate with de dollarization or Somewhere in the future china (2027-2030) will be the most dominant superpower would ban / sanction bitcoin.
China failed to ban Bitcoin and they will not succeed. |
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First of all it is actually the transaction fees of the bitcoin network that is increase or let me at is high due to the congestion of the mempool but not the transaction time that has increased.
Transaction time includes the waiting time to get a first confirmation from Bitcoin miners, is increasing. Average block time does not change and still is around 10 minutes https://bitinfocharts.com/comparison/bitcoin-confirmationtime.htmlAlthough the default time to mine a transaction is 10 minutes there is no definite time as to when a block is been mined.
Transactions are not mined but are confirmed by Bitcoin miners. Bitcoin miners mine Bitcoin blocks and confirm Bitcoin transactions. |
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