Bitcoin Forum
July 02, 2024, 01:13:56 AM *
News: Latest Bitcoin Core release: 27.0 [Torrent]
 
  Home Help Search Login Register More  
  Show Posts
Pages: [1]
1  Other / Beginners & Help / Help me understand Bitcoin and it's future on: August 26, 2015, 03:35:05 AM
Forgive me as I'm fairly new to Bitcoin. There are some things I don't quite understand.

1. Why are miners rewarded but full nodes are not?

I see no incentive to run a full node other than to support the Bitcoin network. With all this talk about increasing the block size, won't the chain quickly become HUGE? Wouldn't the network be stronger if nodes were rewarded like miners for storing the chain? Especially once it starts to hit TB's? I'm talking a very small amount... Because the more full nodes running the more robust and secure the network is, correct?

2. Can average people no longer mine?

Why is there not a cap on mining? People talk about the 51% attack and at the same time it seems like mining is becoming more and more centralized. Isn't the point of this whole thing to be decentralized? Wouldn't it make sense to have more miners running at speeds of say 1GH/s vs. less miners running at 1TH/s? Can't you make a cap like 1% for a pool and .01% for an individual? Then the 51% attack would be virtually done would it not? And also leave room for individuals to have a real shot at earning Bitcoins.

3. Earning bitcoins seems like the most fun part of this whole thing. When I first learned about Bitcoin I was really excited about mining. Then I quickly realized it was out of reach for me. It seems like you'd have to buy a new rig every 6 months to keep up with the hashing power. Even then you have to join a pool in order to have a shot at earning anything. Wouldn't this network run much smoother and be more fun if anyone could mine? I mean it's nerds like us that will keep this network running. So shouldn't nerds like us be rewarded for playing a role?

I'll stop this here to await feedback and try to remember my other questions.
Pages: [1]
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!