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Author Topic: "Money is a social construct and that’s why you should run a bitcoin full-node"  (Read 298 times)
Brandsen
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November 03, 2017, 03:26:00 PM
 #1

Please check out my new post on Medium.

"Money is a social construct and that’s why you should run a bitcoin full-node"

All feedback is highly appreciated.
Thank you!

Link:
https://medium.com/@AudunGulbrands1/money-is-a-social-construct-and-thats-why-you-should-run-a-bitcoin-full-node-ea0330cb69a5
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asdlolciterquit
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November 03, 2017, 04:57:24 PM
 #2

Hi,
don't you think that the blockchains is getting big enough to create some problem to run a full-node?
What is now? 140gb? And what will happen if after the fork everyblock will be of 2mb istead of 1?


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November 03, 2017, 05:09:55 PM
 #3

Hi,
don't you think that the blockchains is getting big enough to create some problem to run a full-node?
What is now? 140gb? And what will happen if after the fork everyblock will be of 2mb istead of 1?
As time progresses it will become a lot cheaper to store big amounts of data. Right now the average 1 TB hard disk costs about $50. So for 50 dollars you can store nine copies of the current blockchain (combined this is around 80 years of blockchain data). If you're not that technical but still want to contribute to the network you can get yourself a bitseed (ranges from $200-$260 for respectively 1 or 2 TB HDD). So it's relatively cheap and at the same time you are contributing to the whole network.
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November 03, 2017, 05:10:31 PM
 #4

don't you think that the blockchains is getting big enough to create some problem to run a full-node?
What is now? 140gb?
You can get a decent 1TB hard drive for $60-70, so for the average Westerner that's not really a problem at all.  The problem is primarily about bandwidth rather than storage space.
And what will happen if after the fork everyblock will be of 2mb istead of 1?
It seems unlikely that that chain will be regarded as "Bitcoin" after the fork, but if it is, it still wouldn't be a problem unless the space was actually being used, and even if it was it would be easy enough to run a full node for a lot of people.

I can see the point of the article, but in a lot of circumstances I do consider it to be OK to run an SPV wallet, provided that you require some more confirmations to be 100% sure of the transactions.  

If you're very poor or you're just being introduced to BTC, it's perfectly reasonable to run an SPV wallet.
TheRomanLegion_
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November 03, 2017, 08:51:32 PM
 #5

I think that most average users would prefer not to run a full node. Personally, I run one but then I am obsessed with bitcoin lol.

In an ideal world perhaps...

But it was hard enough to get my friends and family to even download 'breadwallet' on the App Store, let alone run a full node.
cryptominingltd
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November 03, 2017, 09:27:47 PM
 #6

I think that most average users would prefer not to run a full node. Personally, I run one but then I am obsessed with bitcoin lol.

It's an interesting point. I'm not a fan of running a full node myself. But it could become a digestible concept if / when there's a cultural shift and "full node appliances" become a normal part of people's lives, like a fridge or oven is today. IoT might also help in this regard.

No question about the fact money is simply a social construct where multiple individuals agree that something MUST be valuable.
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