The Long Run
Newbie

Activity: 9
Merit: 0
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January 16, 2025, 05:29:23 PM |
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Bitcoin needs smaller, individual nodes to keep the miner pools from being too dominate, so this is great news.
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OgNasty
Donator
Legendary

Activity: 5656
Merit: 6708
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January 16, 2025, 05:31:24 PM |
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Bitcoin needs smaller, individual nodes to keep the miner pools from being too dominate, so this is great news.
On the surface it seems like good news but I fear a little bit about overreach when it comes to El Salvador. What happens if someone's Grandma doesn't know how to keep their node operating? Will she be thrown in jail? What if someone doesn't want to run a node or isn't able to for some reason? What happens to them? Does everyone have to pay for internet for this? As much as I love Bitcoin and love seeing people support it. I don't think people should be forced to support it. This goes against why I got into Bitcoin in the first place.
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NeuroticFish
Legendary

Activity: 4578
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January 16, 2025, 05:43:58 PM |
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Great news! Just from plans and newspapers to reality there's still one more step.
I don't think that any government would buy the amount of hardware for running so many nodes. And, in the odd case it would buy and distribute, most of the households would sell that hardware as soon as they get the chance. Then I don't think that a country like El Salvador has internet coverage for all (or even most!) households. Or you expect people will download the blockchain on mobile data?!
No sorry. It's nice news, but not feasible.
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apogio
Legendary

Activity: 1106
Merit: 2400
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January 16, 2025, 05:55:43 PM |
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Then I don't think that a country like El Salvador has internet coverage for all (or even most!) households. Or you expect people will download the blockchain on mobile data?!
This is a severe issue indeed and I am afraid you 're right. However, the nodes aren't too bandwidth consuming, are they? I expect a good research before trying something like this.
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Antotena
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January 16, 2025, 08:19:15 PM |
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I just saw in a news on Telegram that President Nayib Bukele of El Salvador just announced plans to set up a Bitcoin node in every home. El Salvador under Bukele does take bitcoin adoption to next level. Now part of daily life, what a bold declaration.
This is good for decentralization but at the same time, looking centralized without privacy. Anyone can run node and it's should be at the interest of the user. Why would anyone run node when they don't even know what to do with it. It's going to be like Bitcoin force on people and that's not what Bitcoin is about. Anyone interested Bitcoin and want Bitcoin can do the same because the last I checked, the airdrop he did about Bitcoin to a app to make Bitcoin a legal tender are all abandoned. If he is also willing to incentivize the node runners, I think there is no need for that. They will switch of the node after they are been paid like the last time they did with Bitcoin because everything is been force, they will be patient and do everything along but as soon as they get piad, that's going to be the end of those nodes. I suggest it should be a voluntary action by anyone interested in running it and then surprise them later.
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Agbe
Legendary

Activity: 1806
Merit: 1469
Leading Crypto Sports Betting & Casino Platform
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January 16, 2025, 08:21:57 PM |
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If El Salvador has strong Internet connection then every home can has bitcoin node and it will be easier for the to make transaction but not in country like mine. We can't download even one small file in a second so how do we operate with node? El Salvador has a good plan for the citizens but he has to create an enabling environment for the citizens and investors to in the country. And since he is focusing on bitcoin investment for all the citizens then he has to invest for technology very high and to make sure that Internet service is for everywhere in the country with one click to open the web. And Road infrastructure which is one of the most important things I discovered in the investment of bitcoin and why, if someone is selling a product in another state in the country and the buyer like to go there and get it or through waybill. And also the data consumption must be look into because not every family can afford the high cost of Internet data.
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DubemIfedigbo001
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I just saw in a news on Telegram that President Nayib Bukele of El Salvador just announced plans to set up a Bitcoin node in every home. El Salvador under Bukele does take bitcoin adoption to next level. Now part of daily life, what a bold declaration.
It is only a noisy plan from him, to catch more attention from the world to El Salvador. Bitcoin network needs more hashrate from Bitcoin miners and more Bitcoin nodes from both Bitcoin mining pools, Bitcoin miners, and Bitcoin users. If people understand helpfulness of a Bitcoin full node, they will run their own full node. Guides to run a Bitcoin full node are needed. [Guide] How to run a Bitcoin Core full node for under 50 bucks!
I kind of agree with you that this move is all a hype, I don't think he is serious about actualizing this. Bitcoin nodes consume some significant power to run and I don't know how much the country is prepared to contain such electricity consumption from its masses. Initially I was thinking the investments into bitcoin was more in national profitability, but I think it is also good looking into increased security on an individual level to reduce scams and uphold the integrity, security, and privacy on an individual level. Running a full node helps you enforce the bitcoin ruleset locally, increase the integrity of your transaction by verifying its authenticity and increase privacy by reducing dependency on third-party nodes and I really am impressed/surprised that a government is promoting more decentralization as against wanting to be in control which is always their true nature. Finally, this is a good move that would help increase the knowledge of bitcoin among the masses, if not for anything, it is good the masses know about more healthy and safer way to engage in bitcoin which is a legal tender in their country.
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MA2LX
Newbie

Activity: 14
Merit: 3
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January 16, 2025, 10:09:30 PM Merited by fillippone (1) |
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Theory which relies on Nakomoto Coefficient to measure network decentralization states that nodes placed at one place are not decentralized at all. Particularly when we talk solely about nodes and try to measure their influence on network decentralization we need to answer following questions Thus, I insist that contribution of this small country into existing decentralization will be miserable even if the relevant nodes will be installed on every street corner. Imagine, for example, currently we have 1,000,000 nodes spread throughout the world, then Nayib Bukele comes with his proposal which wants to make every household in El Salvador run a node. At the moment: 1,000,000 nodes Later: 1,000,000 + 1,530,000 nodes Which is better between the two conditions? don't say you will answer the first one. Then, have you read the entire article from Supra? try opening it again & look carefully at the Client Decentralization section. I don't want to argue about this, just want to make people aware that this is good news, even if it only has a small positive impact, it's still a positive impact.
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ABCbits
Legendary

Activity: 3794
Merit: 10497
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I don't think that any government would buy the amount of hardware for running so many nodes. And, in the odd case it would buy and distribute, most of the households would sell that hardware as soon as they get the chance.
Or used for other purpose instead, while shutting down the full node software. Then I don't think that a country like El Salvador has internet coverage for all (or even most!) households. Or you expect people will download the blockchain on mobile data?!
They could setup the OS and Bitcoin node in advance, although internet coverage and mobile data issue still exist since the blockchain grow few GB every months.
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IceLincoln (OP)
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January 22, 2025, 03:09:23 PM |
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Great news! Just from plans and newspapers to reality there's still one more step.
I don't think that any government would buy the amount of hardware for running so many nodes. And, in the odd case it would buy and distribute, most of the households would sell that hardware as soon as they get the chance. Then I don't think that a country like El Salvador has internet coverage for all (or even most!) households. Or you expect people will download the blockchain on mobile data?!
No sorry. It's nice news, but not feasible.
It’s not totally impossible, Yes there are a lot of challenges to overcome at the moment but I think if his Government is willing to achieve it, they can. I think it’s not an immediate project, more like a future projection of what he wants for El Salvador and his enthusiasm for bitcoin. In the course of achieving this project, a lot of development and enlightenment will come to his country coz first he’ll establish better power resources, increase the accessibility of internet to about 90% of the populace, and proper education on the handling of the hardwares and computers involved. He’s a leader who has a good vision for his country and he’s been trying his best to take her to the next level. Before his time, not many knew about El Salvador. Great feats are ACHIEVED by overcoming GREAT CHALLENGES
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NeuroticFish
Legendary

Activity: 4578
Merit: 7316
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January 22, 2025, 04:40:43 PM |
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It’s not totally impossible, Yes there are a lot of challenges to overcome at the moment but I think if his Government is willing to achieve it, they can.
I said it's not feasible. It's not impossible, but if they want to make it possible even for 75% of the households it would be a challenge that's not worth it from the government point of view - they'd need to add infrastructure, they'd need to enforce rules for people to handle those devices with extra care, they may have to pretty much pay for the electricity and internet, hire companies to visit those households and check if the devices are there and running, maybe maintain them... and then why not just buy those devices and keep them in one place, in the capitol, with internet available, with very low chance to steal them, with high chance somebody would actually maintain them and keep them running.
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Free Market Capitalist
Legendary

Activity: 2296
Merit: 3710
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January 22, 2025, 04:47:04 PM |
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I said it's not feasible. It's not impossible, but if they want to make it possible even for 75% of the households it would be a challenge that's not worth it from the government point of view - they'd need to add infrastructure, they'd need to enforce rules for people to handle those devices with extra care, they may have to pretty much pay for the electricity and internet, hire companies to visit those households and check if the devices are there and running, maybe maintain them... and then why not just buy those devices and keep them in one place, in the capitol, with internet available, with very low chance to steal them, with high chance somebody would actually maintain them and keep them running.
Do you know how the world is moving forward, NeuroticFish? The world moves forward with guys like Bukele doing everything the rest of the world says can't be done and with a mass of people behind him shouting: “He's crazy! That's impossible!” (I know you have not said it is impossible but in your argument you present it as very unlikely). A guy who has turned El Salvador from being the violent crime capital of the world to having one of the lowest crime rates in the world I'm going to give him the benefit of the doubt, instead of objecting a priori.
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NeuroticFish
Legendary

Activity: 4578
Merit: 7316
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January 22, 2025, 04:49:20 PM |
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The world moves forward with guys like Bukele doing everything the rest of the world says can't be done and with a mass of people behind him shouting: “He's crazy! That's impossible!” There's a saying that the pessimists are the happiest people because the word is better than they expect it. This being said, I will be happy if he does it. But I just will not expect him to.
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| | ..1win.. | █████████████████████████ █████████████████████████ ████████████▀░░░▀▀▀▀█████ █████████▀▀▀█▄░░░░░░░████ ████▀▀░░░░░░░█▄░▄░░░▐████ ████▌░░░░▄░░░▐████░░▐████ █████░░░▄██▄░░██▀░░░█████ █████▌░░▀██▀░░▐▌░░░▐█████ ██████░░░░▀░░░░█░░░▐█████ ██████▌░░░░░░░░▐█▄▄██████ ███████▄░░▄▄▄████████████ █████████████████████████ █████████████████████████ | ..POKER.. | █████████████████████████ █████████████████████████ ███████████▀▀▀███████████ ███████▀▀░░▄▄▄░░▀▀███████ ██████▄░░░░███░░░░▄██████ █████░▀▀█▄▄░░░▄▄█▀▀░█████ █████░██░░▀▀█▀▀░░██░█████ █████░░░░░░░█░██░▄▄░█████ █████▄░░░▄▄░█░▄▄░▀▀▄█████ ███████▄▄▀▀░█░▀▀▄▄███████ ███████████▄█▄███████████ █████████████████████████ █████████████████████████ | ..GAMES.. | █████████████████████████ █████████████████████████ ████████▀▀░░░░░▀▀████████ ██████░░▄██▄░▄██▄░░██████ █████░░████▀░▀████░░█████ ████░░░░▀▀░░░░░▀▀░░░░████ ████░░▄██░░░░░░░██▄░░████ ████░░████░░░░░████░░████ █████░░▀▀░▄███▄░▀▀░░█████ ██████░░░░▀███▀░░░░██████ ████████▄▄░░░░░▄▄████████ █████████████████████████ █████████████████████████ | | |
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