Hi all,
I've recently discovered something is quite concerning for me, i.e. with Segwit transactions single block size will rise up to 4 Mb.
This would lead to a blockchain increase up to ~200 GB/year, while a normal laptop does not have more than 500 GB.
Right now blockchain is already at 200 GB.
In ten years it seems quite unsustainable. Common users will cease to run a full node, only pros and geeks will do that,
and we'll never have millions of full nodes in that way.
If bitcoin is peer to peer electronic cash and want to be worldwide, IMHO more than mining centralization and price dumping
it's mass adoption of the peer-to-peer network that should be concerned.
If LN will have a great development in the following years, and I hope I will. what about reducing block size back to 1 MB or even lower?
I would like to have explanation and thoughts about a technician.
Thanks in advance.
4Mb is only a theoretically possible block size, we're never getting there in practice.
I own an external 2GB SSD drive. I'm not some crazy geek, this is a consumer product.
It is theoretically guaranteed to be able to contain the blockchain for another 10 years.
In 10 years 2GB SSD drives will probably cost what 128GB USB flash drives cost today.
That said, there's no reason for any pleb to actually download the entire blockchain and there's literally nothing wrong with using SPV wallets, so why would it matter. I stopped using Bitcoin Core software in 2016 because I didn't wanna melt my CPU with all the block verifications - so ordinary users are already NOT using bitcoin core, opting for SPV instead.