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1  Bitcoin / Bitcoin Discussion / Re: Most Efficient Way To Run A Full Node? on: December 24, 2020, 12:10:10 AM
...snip...

I suppose the crux of my questioning on efficiency revolves around storage of the blockchain and the experiences of bitcointalk users storing the blockchain in an external HDD and SSD. It would seem due to the continuous requirement of read/write access, using a SSD is almost always better performance wise. In order to have a forward-compatible node, we would need a SSD of at least 350 GB at this point.

Someone here made the comment that a full node shouldn't be hosted in the cloud in the very place but should only be hosted on hardware that you actually own and can physically access. I tend to agree with the observation that if you are using someone else's hardware than it is not truly YOUR node. In terms of efficiency, it seems in the long run it would actually be most cost-efficiency to pony up the costs for hardware that you yourself host locally, and in the case of storage, this would require a SSD of at least 350 GB - might as well buy 1 TB while you are at it.

Thank you all for your input.

Sure. SSD is the way to go.

However, "Stop saying the cloud is just someone else's computer - because it's not" ...
- https://www.zdnet.com/article/stop-saying-the-cloud-is-just-someone-elses-computer-because-its-not/

Many "cloud" hosts will now let you upload or run your own custom and/or fully encrypted OS, for example.

In terms of your "home" node, did you build it from scratch using only "trusted" Open Hardware and Open Source Software ?

Did you review all of the Source Code in it's entirety before you ran it ? Etc., etc.,
How can one test the integrity of hardware manufactured in China for example?
2  Bitcoin / Bitcoin Discussion / Re: Most Efficient Way To Run A Full Node? on: December 03, 2020, 09:33:52 PM
May I ask why HDD instead of SSD?
HDD is more cost effective than SSD in terms of per gb costs. While it does run a bit louder, Bitcoin nodes has a lot of I/O activity with it due to the constant fetching of block info to supply to the nodes. Flash storage can degrade over time with constant reading and writing. HDD is more reliable in this aspect.
Additionally, because MyNodeBTC comes preloaded with software, etc., how can we know for certain that it has not been tampered with or a trojan/keylogger, etc. has been installed on the device before it reaches us?
I would recommend for you to run one with Raspberry Pi.

Do not put your files on the MicroSD card if you're going that route. The high I/O will wear out the MicroSD card very quickly. You would want to synchronize your files on a computer before putting it on a Raspberry Pi. It's too underpowered and will take quite some time, perhaps up to a week to synchronize. You will want to use the options to disable wallet and all the unnecessary stuff to try to save the resources and perhaps limit the peer count. RPi is very underpowered for a node but it performs well for it's price, it'll work just fine for a medium sized full node.
I already have ~145 GB of the blockchain synched on a HDD but the rest is very slow to synch. How can I download the remaining on my local hard drive then move it over to the 1 TB HDD?
3  Bitcoin / Bitcoin Discussion / Re: Most Efficient Way To Run A Full Node? on: December 03, 2020, 05:14:30 PM
http://mynodebtc.com/

Bitcoin + Lightning plus all the useful necessities to become self-sovereign.

Will step you through exactly what you need to do.

I have a basic technical ability & I found it easy.

Raspberry PI 4, HDD, MicroSD card, case etc ~$200 on Amazon.

Software is FREE unless you want access to premium features (which I highly recommend).


May I ask why HDD instead of SSD?

Additionally, because MyNodeBTC comes preloaded with software, etc., how can we know for certain that it has not been tampered with or a trojan/keylogger, etc. has been installed on the device before it reaches us?
4  Bitcoin / Bitcoin Discussion / Re: Most Efficient Way To Run A Full Node? on: December 03, 2020, 04:55:33 PM
...snip...

I have heard people on this forum recommend renting server space in order to host a full node. I am wondering if this is a better option than hosting locally and what the costs associated would be. Performance and security are top priorities. I am looking at running a full node continuously, not just for a temporary time.

Running a Bitcoin full node on a VPS server instance is much more costly (in the long-term) than running a full node on your 'home' PC.

Whilst you can host a pruned node (for around $5 a month), with VPS / linux server companies such as digital ocean and vultr, hosting a full node at 300+ GB requires block storage which will set you back around $1.00/mo per 10 GB of storage i.e. around $55 a month minimum for a 500 GB instance.

...

I'm actually in the process of writing a guide for setting up a $5 Linux VPS running a pruned Bitcoin node (as a dual stack node with Tor .onion, optional) for my 'Bitcoin on Tor addnodes project' see: https://bitcointalk.org/index.php?topic=5177001.0 - however the guide likely won't be published until after the Tor v3 .onion rollout in mid 2021.

It is also possible to effectively CPU mine various altcoins utilizing cpulimit at 75% max (so that the VPS companies won't ban you!), to offset the cost of running a Bitcoin pruned VPS node 'cloud' instance.

...

TBH I find it rather surprising that the OP has recently posted this topic;

Tutorial: How To Fork Bitcoin
- https://bitcointalk.org/index.php?topic=5295647.0

... and yet seemingly is unaware of what is required in terms of 'hosting' a full Bitcoin server in the cloud !?

...

Whilst we are all always learning, in regards to Bitcoin, as one of the oldest and active members of this forum, topics like this one just highlight to me the often great disparity between users technical knowledge and what gets interest / help / funding to move forward with what folks seemingly need and want to achieve.
I suppose the crux of my questioning on efficiency revolves around storage of the blockchain and the experiences of bitcointalk users storing the blockchain in an external HDD and SSD. It would seem due to the continuous requirement of read/write access, using a SSD is almost always better performance wise. In order to have a forward-compatible node, we would need a SSD of at least 350 GB at this point.

Someone here made the comment that a full node shouldn't be hosted in the cloud in the very place but should only be hosted on hardware that you actually own and can physically access. I tend to agree with the observation that if you are using someone else's hardware than it is not truly YOUR node. In terms of efficiency, it seems in the long run it would actually be most cost-efficiency to pony up the costs for hardware that you yourself host locally, and in the case of storage, this would require a SSD of at least 350 GB - might as well buy 1 TB while you are at it.

Thank you all for your input.
5  Alternate cryptocurrencies / Altcoin Discussion / Re: Coinbase or Circle or someone from them are Satoshi on: December 03, 2020, 01:42:59 AM
Satoshi would not likely work for a company whose main priority is exchanging fiat for bitcoin.
6  Other / Politics & Society / Re: Do you think COVID19 is a scam? on: December 02, 2020, 10:45:53 PM
The primary purpose of this declared state of emergency is not public health but to suppress our economy and usher in a globalist government.
7  Bitcoin / Bitcoin Discussion / Most Efficient Way To Run A Full Node? on: December 02, 2020, 10:11:52 PM
I am wondering what is the best way to run a full node with limited computing resources. In order to do this we must download and synchronize a full copy of the blockchain (300+ GB). This is not for being competitive as a miner but only hosting a full network node that can remain up-to-date with the blockchain in real-time.

I have tried downloading the entire blockchain to an external hard drive. However, it is basically at a standstill with 25% or more of the blockchain still needing to be synchronized. Is this delay because I am hosting it on an external hard drive? (Western Digital External Hard Drive)

I have heard people on this forum recommend renting server space in order to host a full node. I am wondering if this is a better option than hosting locally and what the costs associated would be. Performance and security are top priorities. I am looking at running a full node continuously, not just for a temporary time.
8  Bitcoin / Bitcoin Discussion / Re: Tutorial: How To Fork Bitcoin on: December 02, 2020, 04:06:13 PM
Please don't guide scammers to create more clones from source code of Bitcoin.

Scammer don't need this guide when there are tools which allow to create hard fork with few clicks & services which create your own hard fork.
The guide would be slightly better if the title is "Learn Bitcoin protocol by forking Bitcoin"

On the other hand forking Bitcoin does have its own use: if you want 1000s of Bitcoin for testing (i.e. you cannot or don't want to fake the mBTC you can get from testnet faucet), it can be a good approach for testing.

They also can use regtest, which is easier than modify client & perform hard fork.
The idea here is not to rely on a third-party service provider but to fork bitcoin ourselves. When we rely on a third-party to create a hard fork for us with a "few clicks" as you put it, it creates a security risk that we do not want in this type of project. Relying on a third-party service to fork the software on our behalf is not the best way to do it when performance and security are top priorities. That is why we download a full copy of the blockchain and run a full node ourselves. This may not be easy given that the blockchain is currently over 300 GB in size. However, it is necessary if we intend to do things the correct way.

This is a marathon, not a sprint.
9  Economy / Service Discussion / Re: Best Bitcoin Payment Gateway For WordPress? on: December 02, 2020, 05:06:23 AM
I tried Blockonomics and so far so good!
10  Bitcoin / Bitcoin Discussion / Re: Tutorial: How To Fork Bitcoin on: December 02, 2020, 04:30:04 AM
Please don't guide scammers to create more clones from source code of Bitcoin.

How Many Bitcoin Forks Are There? You will be surprised!!!
There is nothing inherently wrong with hard forking bitcoin. Software forks are not "scams".
11  Bitcoin / Bitcoin Discussion / Tutorial: How To Fork Bitcoin on: December 02, 2020, 04:09:45 AM


The How To Fork Bitcoin Tutorial is a video screencast and written instruction on how to initiate a hard fork of the bitcoin network and begin mining a new chain of transactions. In this tutorial, in order to run a full node, we will be required to download a full copy of the exiting bitcoin blockchain. Therefore, it is necessary to allocate hard drive space for this course.

This course is beginning in December, 2020 with new lessons made available periodically throughout the month.
12  Economy / Service Discussion / Best Bitcoin Payment Gateway For WordPress? on: December 01, 2020, 03:34:09 PM
I am looking for a bitcoin payment gateway that works with WordPress as a plugin? Does anyone here have any recommendations?

Ideally, it would work without a third party but use an API to get the current exchange rate and automatically send the payment to a bitcoin wallet such as Electrum.

Thank you.
13  Bitcoin / Project Development / Re: [Product Concept] Introducing The Bitcoin Chip From Diginomics Corporation on: November 18, 2020, 11:03:13 PM
We are looking to create a bitcoin hardware wallet for mobile devices. This would include a full-node as to not rely on a third-party service. However, we also want secure text-messaging and hopefully VoIP built as a feature.

I use the comparison of a SIM card for comparison purposes only - obviously it would need to be quite different in technical details.

One of the obvious considerations is that to have SMS (160 character) based communications, new features and perhaps OP_CODES would need to be enabled on the blockchain. This could potentially require a hard fork of the software.
14  Economy / Scam Accusations / Re: Diginomics Corporation - probable scam on: November 18, 2020, 10:56:45 PM
The merchant portal is not currently taking orders or payment.

You silently removed the items I mentioned, but you are still selling other garbage, like subscriptions to your newsletter for $20/month.   Roll Eyes

Don't play with real money in your fake corporation on this site. 
Just because you might not appreciate a subscription service doesn't mean others won't nor does it mean our business is a "probable scam".

CASE CLOSED
15  Economy / Scam Accusations / Re: Diginomics Corporation - probable scam on: November 15, 2020, 09:15:22 PM
There are other similar projects on the market currently which use SIM cards in one way or another. See: http://www.fuzo.com/

You cannot use a SIM card to store large amounts of data like that.   If you mean a SD card, it's just another example you have no clue about technology.



Of course there will be many adjustments and alterations from now until a final end-product, but as of now it is simply a product concept seeking feedback on. No scams involved.

You have a working merchant account asking for $250 in non-reversible currency.
The merchant portal is not currently taking orders or payment.
16  Economy / Scam Accusations / Re: Diginomics Corporation - probable scam on: November 14, 2020, 04:18:14 PM
Also, the book is available to the community free of charge with the coupon 'bitcointalk'. Otherwise people can pay the $25 for a copy.
17  Economy / Scam Accusations / Re: Diginomics Corporation - probable scam on: November 14, 2020, 04:14:49 PM
It's a product concept for a mobile bitcoin hardware wallet - nothing more at this point. There are other similar projects on the market currently which use SIM cards in one way or another. See: http://www.fuzo.com/

Of course there will be many adjustments and alterations from now until a final end-product, but as of now it is simply a product concept seeking feedback on. No scams involved.
18  Bitcoin / Project Development / Re: [Product Concept] Introducing The Bitcoin Chip From Diginomics Corporation on: November 12, 2020, 09:14:54 PM
There's very little technical information.   It only mentions the network layer (v6) but not the physical layer - I assume 5G?
5G would be of consideration although some of the details about this layer as well are still being released as well.
19  Bitcoin / Project Development / [Product Concept] Introducing The Bitcoin Chip From Diginomics Corporation on: November 12, 2020, 08:56:15 PM
The Bitcoin Chip™
$295

Mobile Bitcoin Wallet On A SIM Card

The Bitcoin Chip is a full blockchain node running on a mobile SIM card which allows the user to store, receive, and authorize bitcoin payments.

The private key of the user is stored on this mobile storage device while allowing secure network connectivity through IPv6 communication protocol enabled by a hard fork of the original bitcoin ledger. This new, forked chain allows the user to not only communicate through a secure IPv6 protocol (not connected to the www “World Wide Web”) but acts through a virtual private network.

Several of the product benefits include:

  • Secure identity authorization.
  • Broadcast transactions and receive payment from a mobile device.
  • Store information on the public blockchain which can only be decrypted by your private key.

The Bitcoin Chip comes in the form of a hardware wallet SIM Card which can easily be fitted to any modern smartphone. SMS-based text messaging and VoIP can be accessed on-chain by applications built ontop of the protocol layer.

Pre-order your bitcoin chip today: https://diginomics.com/2020/11/12/introducing-bitcoin-chip-from-diginomics-corporation/
20  Bitcoin / Bitcoin Discussion / Re: Please Review My Bitcoin Book on: November 02, 2020, 03:23:19 PM
If I have enough time, I will read your book. In any case, I wish you good luck.
I think you should start reading the book as soon as it is not time yet because if you manage to read it on another time, you will end up having knowledge on wrong time and late to the point that you already lose a lot of opportunity to earn bitcoin easily. We should start everything earlier than the deadline so that we can have a bonus. Earlier is better just like investing in bitcoin. If i just invested earlier then i should be rich by now because the price increase rate now is nothing compare before.
Good observation. We should always be "ahead of the play" and preparing ourselves even when the immediate circumstances do not demand it of us.
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