rpietila Altcoin Observer

[rdnkjdi]

Any opinions on Monero's blockchain size?  I mean ... there's already a 1.7GB blockchain size.  In 3 months it's half as large as the litecoin blockchain - so when it's litecoin's age if adoption doesn't increase any we'll be seeing 17GB since litecoin has been around 10X as long? 

If adoption increases by 4X - 5X to knock litecoin off as #2 - we'll see a 68 - 85GB blockchain in a few years?

FWIW - I've got no horse in the anon race.  Darkcoin is a borderline scam IMO.  An XCurrency dev did a massive pump pump job on cachecoin & appears to be dropping his ASIC project for LTC so I'm avoiding that like the plague.  Just not seeing a clear winner in anon ATM

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[binaryFate]

Any opinions on Monero's blockchain size?  Looking at the anon coins Monero seems to be the one everybody's interested in.  But there's already a 1.7GB blockchain size.  In 3 months - what am I missing?

P.S.  I've got no horse in the anon race.  Darkcoin is a borderline scam IMO.  Not interested in XCurrency.  One of the devs did a massive pump & dump on cachecoin.

See these posts:

blockchain is 1,6 GB ? Is that a joke ?

After the pool dust problem was fixed it's currently growing with ~10 MB a day: http://monerochain.info/charts/bcsize

blockchain is 1,6 GB ? Is that a joke ?

No, that is correct. It's about 1.7 GB here. It does depend a bit on the platform, but 1.6 GB seems in the right ballpark.

Some amount of that is database bloat (the same data being stored more than once) and can be improved with a better database implementation. The chart on monerochain records the actual size of blockchain data, currently 738 MB.

This said, the blockchain will grow larger than bitcoin one, by a linear factor. Price to "pay" for unlinkability and untraceability.

[aminorex]

This said, the blockchain will grow larger than bitcoin one, by a linear factor. Price to "pay" for unlinkability and untraceability.

For now.  I'm pretty sure there will be a much smaller chain with adapted cryptonote before too long.

[tacotime]

This said, the blockchain will grow larger than bitcoin one, by a linear factor. Price to "pay" for unlinkability and untraceability.

For now.  I'm pretty sure there will be a much smaller chain with adapted cryptonote before too long.

Chain is going to be larger for this one, probably some 5-20x larger than that of Bitcoin's. That being said, that means maybe hundreds of GB at worst in a few years, which isn't an impossible tradeoff (for now) with privacy.

There are a lot of propositions for means to reduce the size of the blockchain, and we're reviewing them all carefully.

[SushiChef]

An XCurrency dev did a massive pump pump job on cachecoin & appears to be dropping his ASIC project for LTC so I'm avoiding that like the plague.  

Best collaboration in Alt-history.. Remember this

wanna know why?

Once the rewrite is complete we will begin building out the interchain which will allow communication between blockchains (without the need of sidechains). This will build out the basis for the network that will allow end to end encrypted communication and transfer of data. Think of it like TOR, if TOR was not created by the US military with likely multiple backdoors. There is a lot to do still before we get to that point, but the amount of flexibility that the coins wallet will support will likely be shocking. This is what you get when you write the code with a goal in mind rather than patching it with little knowledge of how to write the code in the first place.

[Este Nuno]

This said, the blockchain will grow larger than bitcoin one, by a linear factor. Price to "pay" for unlinkability and untraceability.

For now.  I'm pretty sure there will be a much smaller chain with adapted cryptonote before too long.

Chain is going to be larger for this one, probably some 5-20x larger than that of Bitcoin's. That being said, that means maybe hundreds of GB at worst in a few years, which isn't an impossible tradeoff (for now) with privacy.

There are a lot of propositions for means to reduce the size of the blockchain, and we're reviewing them all carefully.

Having most people use thin clients isn't really a big deal, is it? Cryptos in general are moving towards that point anyway. The only issue in general is making sure enough people have incentive to run full nodes.

[dreamspark]

Any opinions on Monero's blockchain size?  I mean ... there's already a 1.7GB blockchain size.  In 3 months it's half as large as the litecoin blockchain - so when it's litecoin's age if adoption doesn't increase any we'll be seeing 17GB since litecoin has been around 10X as long? 

If adoption increases by 4X - 5X to knock litecoin off as #2 - we'll see a 68 - 85GB blockchain in a few years?

FWIW - I've got no horse in the anon race.  Darkcoin is a borderline scam IMO.  An XCurrency dev did a massive pump pump job on cachecoin & appears to be dropping his ASIC project for LTC so I'm avoiding that like the plague.  Just not seeing a clear winner in anon ATM

I addressed this in the general monero thread as I have been monitoring the actual size on disk which the graph on monerochain.info doesn't show. If you can be bothered go back and find it and if not I will be updating the sizes tomorrow as I haven't done it in a few days.

Basically as has been said there was an initial bloat of the chain due to pool dust and that has been fixed and is currently growing at a much more stable and slower rate. It is likely to be a few times larger than Bitcoins blockchain but that is a fair price to pay for privacy. Again as has been said the cost/GB and general cost of HDD's will go down quicker than the blockchain will grow.

[georgehosterguy]

An XCurrency dev did a massive pump pump job on cachecoin & appears to be dropping his ASIC project for LTC so I'm avoiding that like the plague. 

Yup ... FWIW your post inspired me to make a quick mention over in the XCurrency thread. 

[SushiChef]

An XCurrency dev did a massive pump pump job on cachecoin & appears to be dropping his ASIC project for LTC so I'm avoiding that like the plague. 

Yup ... FWIW your post inspired me to make a quick mention over in the XCurrency thread. 

Thanks for that!

[rdnkjdi]

An XCurrency dev did a massive pump pump job on cachecoin & appears to be dropping his ASIC project for LTC so I'm avoiding that like the plague.  

Best collaboration in Alt-history.. Remember this

wanna know why?

Once the rewrite is complete we will begin building out the interchain which will allow communication between blockchains (without the need of sidechains). This will build out the basis for the network that will allow end to end encrypted communication and transfer of data. Think of it like TOR, if TOR was not created by the US military with likely multiple backdoors. There is a lot to do still before we get to that point, but the amount of flexibility that the coins wallet will support will likely be shocking. This is what you get when you write the code with a goal in mind rather than patching it with little knowledge of how to write the code in the first place.

Yup - I know.  Preparing for another pump -> dump.  Maybe I should get in at $0.15 & join the dump ...

[SushiChef]

An XCurrency dev did a massive pump pump job on cachecoin & appears to be dropping his ASIC project for LTC so I'm avoiding that like the plague.  

Best collaboration in Alt-history.. Remember this

wanna know why?

Once the rewrite is complete we will begin building out the interchain which will allow communication between blockchains (without the need of sidechains). This will build out the basis for the network that will allow end to end encrypted communication and transfer of data. Think of it like TOR, if TOR was not created by the US military with likely multiple backdoors. There is a lot to do still before we get to that point, but the amount of flexibility that the coins wallet will support will likely be shocking. This is what you get when you write the code with a goal in mind rather than patching it with little knowledge of how to write the code in the first place.

Yup - I know.  Preparing for another pump -> dump.  Maybe I should get in at $0.15 & join the dump ...

Pump -> dumps are created by market manipulators not (this) dev team(s)

People like this do that

U all need to seriously take a hard look at who is running you P.R. because he has over promised to community and under delivered yet again...(this has nothing to do with DEV he doesn't run announcements for the community)Don't go promising a solution and bring us TESTNET..P.R. Im sorry but i said it way back when in forums... Ive been here for long hall and you have consistently blown your portion of the job.. Its not a unreasonable complaint to file.. don't tell us it will be a workign trust-less answer and simply provide this

or

https://twitter.com/CryptoBoh

[rdnkjdi]

Perhaps amateur hour at over promising, selling on hype, under delivering would be a better description.

[SushiChef]

[wrong interpretation of the situation]

You clearly are not up to speed when it comes to XC

[binaryFate]

Primecoin (XPM) is extremely undervalued at the moment folks. Gains of 2000% + are coming with the next Bitcoin bubble.

Please read my Technical and Fundamental breakdown of Primecoin at www.coingroup.ca

Primecoin is a nice proof of concept but nothing more.
It has zero benefit to the user of the currency wrt other "classic" coins such as bitcoin/litecoin. Note also that the scientific contribution of the PoW function is not so clear.

I don't see anything that would justify a 2000% gain, or even that it is undervalued. If you are saying that just because it's cheaper than it was in the past, it's a fallacy.
Price decrease is because media hype is fading away, and the price was partly (mostly?) based on media hype. Media hype is not a fundamental, in fact it is the same as a shitcoin short-term hype, but instead of the dev promotting his shit in a bitcointalk thread, it's an often clueless "journalist" doing it on coindesk. Different scales but same lack of fundamentals behind the price.

[rdnkjdi]

[wrong interpretation of the situation]

You clearly are not up to speed when it comes to XC

I know parts are closed sourced and eventually going to be released as open source, it takes care of bloat size that Cryptonote has, transaction times are faster, some of the same features Jasinlee talks about coming for Cache are also listed on XC (anonymity nobody was using was mentioned some months back - sidechain stuff mentioned on the website also mentioned on the Cachecoin thread).  The XC website hits me as way over marketed.  http://xc-official.com/community/

It's just trying wayyyyy too hard.

Admittedly I've only spent about a 15 - 20 min absorbing random info.  I'd be happy to be corrected.  

But from what I can tell Cachecoin = XC = Fib = Jasinlee in some odd assortment of backdoor collaborators.  

[btc-mike]

This said, the blockchain will grow larger than bitcoin one, by a linear factor. Price to "pay" for unlinkability and untraceability.

For now.  I'm pretty sure there will be a much smaller chain with adapted cryptonote before too long.

Boolberry was designed from the beginning with smaller blockchain in mind. The ring signatures can easily be cut off reducing the size by 50%.

[SushiChef]

[wrong interpretation of the situation]

You clearly are not up to speed when it comes to XC

I know parts are closed sourced and eventually going to be released as open source, it takes care of bloat size that Cryptonote has, some of the same features Jasinlee talks about coming for Cache are also listed on XC (sidechain stuff).  The XC website hits me as way over marketed.  http://xc-official.com/community/

Admittedly I've only spent about a 15 - 20 min absorbing random info.  I'd be happy to be corrected.  

But from what I can tell Cachecoin = XC = Fib = Jasinlee in some odd assortment of backdoor collaborators.  

Well it is a good thing to get a outside view reflected on our current situation. Let me tell you the XC website is only with us for 2 weeks (after the community SCREAMED to get a new on. And a total rebrand of the product). This coin is never hyped by the dev (team) but always by outsiders looking for a quick buck to satisfy they're need for fast cars, cocaine and paid girls.

The collaboratation with cach is not true, only thing that is of the issue is Jasinlee helping with some sort of rewriting the core code (and this has never been a issue within the community as long as there is transparency). Also they visited the Bitcoin beltway together start reading from here:

https://bitcointalk.org/index.php?topic=630547.msg7427675#msg7427675

[thefunkybits]

Primecoin is a nice proof of concept but nothing more.
It has zero benefit to the user of the currency wrt other "classic" coins such as bitcoin/litecoin. Note also that the scientific contribution of the PoW function is not so clear.

You might have valid points but this doesn't dispute the fact that XPM will go the moon with Bitcoin and will track gains on top of BTC. take a look at what happened to the alts last December. No matter what the coin you could have made 2-10X your BTC, the same is going to happen with XPM this time around. Simply look at the high volume spikes in the chart below corresponding with a massive surge in price. Prices have now trickled down 95% on little to no volume at all, and a massive spike is coming. Dont shoot the messenger  
 
1W MACD buy signal active and the sell volume has disappeared



Please read my full Technical and Fundamental breakdown of Primecoin at www.coingroup.ca

[btc-mike]

Any opinions on Monero's blockchain size?  Looking at the anon coins Monero seems to be the one everybody's interested in.  But there's already a 1.7GB blockchain size.  In 3 months - what am I missing?

P.S.  I've got no horse in the anon race.  Darkcoin is a borderline scam IMO.  Not interested in XCurrency.  One of the devs did a massive pump & dump on cachecoin.

See these posts:

blockchain is 1,6 GB ? Is that a joke ?

After the pool dust problem was fixed it's currently growing with ~10 MB a day: http://monerochain.info/charts/bcsize

blockchain is 1,6 GB ? Is that a joke ?

No, that is correct. It's about 1.7 GB here. It does depend a bit on the platform, but 1.6 GB seems in the right ballpark.

Some amount of that is database bloat (the same data being stored more than once) and can be improved with a better database implementation. The chart on monerochain records the actual size of blockchain data, currently 738 MB.

This said, the blockchain will grow larger than bitcoin one, by a linear factor. Price to "pay" for unlinkability and untraceability.

not really after the devs implement a database set to optimize and compress the blockchain data.

until released open-source, it is vaporware.

[smooth]

until released open-source, it is vaporware.

It has been open source the whole time. The ongoing work can be tracked on github.