Reddit Posts
In the process of setting up a node. After 4 days syncing the blockchain is 35%.
Living Life to the MAXIMUM with Cryptocurrencies: Help Needed for Blog or Subreddit Funding!
How much will i make mining MYSTERIUM on my cloud server?
Connecting Bitcoin Core to Sparrow Remotely - Unable to make it work. Help!
I've followed all the instructions, but syncing my full node is taking for-f'ing ever...
Ubuntu freezes after few hours bitcoin core initiates blockchain synchronisation
[Serious] so, I have a good use case for "web3.0" after having a very annoying experience with Amazon Prime...
Uncover the mystery of Satoshi Nakamoto in this Gripping Fantasy Novel
Uncover the mystery of Satoshi Nakamoto in this Gripping Fantasy Novel
Uncover the mystery of Satoshi Nakamoto in this Gripping Fantasy Novel
Why are small block sizes better than big blocks?
Mentions
> Are you running a Routing node? Not really, just an insignificant lightning node. Laptop running Ubuntu Linux, 8 GB ram, 2 TB external ssd.
Sparrow has a curated list of community run Electrum servers, but that doesn't mean they can't behave maliciously or log users' IP addresses and xpubs. If you have enough Bitcoin to lose sleep over it, then run your own full node. A Pi4b with 8GB RAM and 1TB USB 3.1 SSD is very stable and reliable. If you want the best performance, use Raspiblitz + Fulcrum
They don’t fit in my System76 Lemur Pro I’d have to lug the blockchain externally or upgrade my SSD and I already spent on the 7000MB/sec read really fast one in 1TB size
If it can I don’t know the way. I don’t have room for the blockchain and my OS and data (mostly video) on my 1TB ssd. I used to keep it but those 300-400 GB were freed up so I can edit my videos for social media. Is there a command I can paste into my Linux terminal without having setup Bitcoin client and blockchain?
Hi! Personally, I am a Cardano fan, but I have some positive thoughts on Solana. The first thing you should understand, is that there is no Cryptocurrency, until now, that doesn't have trade-offs in its trying, to be secure, decentralized, and scalable (fast). Solana is extremely fast and cheap, and this is its main selling point. Using its blockchain, will leave you probably with a very good user experience. Also, it has a passionate NFT community that helped it to "steal" users from Ethereum in the last bull run. But, by being so fast, you have to sacrifice something. First, if I am not mistaken, its Ledger is over 100 TB (!!!). This is ENORMOUS. There are not many people that could have downloaded the entire Solana's blockchain. This can make Solana less Decentralized. Also, it uses the proof of history as its consensus mechanism. This, along with the smart contracts that you can't see on Solscan, and judge if there are malicious or not, creates security concerns. The first is in the protocol, and the second is on the user level. It isn't by chance that Solana has had serious downtime periods in the last 2 years. There are still some security concerns in its approach. So, is it a good coin to invest in? This is only for you to decide. Solana's approach has its pros and cons, but we should give it to her. She is trying a new approach, different than Ethereum's, and has indeed impressive tech. So, it can thrive, alongside Ethereum. Me, as a person that is a little Decentralization maxi, I have some philosophical differences with Solana, but I hold SOL as a small part of my portfolio, because it has added innovative things to the Cryptocurrency space. Good Luck, with whatever you choose to do. P.S. Its price can also suffer when SBF's and FTX's SOL stakes unlock because it might be sold to reimburse users. But, generally, I believe that Solana is better without the SBF and its (now fallen) empire behind her, because it could be more Decentralized, and more free to thrive.
Kinda similar to the 1956 first 5MB Gigantic hard drive to todays 22TB Palm size hard drive. That's such a huge upgrade.
#Hedera Con-Arguments Below is a Hedera con-argument written by Maleficent_Plankton. > Hedera Hashgraph is Delware Limited Liability Company. > > **It's also a Directed Acyclic Graph DLT that uses a leaderless asynchronous BFT algorithm with virtual voting.** This is the same as Fantom, which is also a a Directed Acyclic Graph DLT that uses a leaderless asynchronous BFT algorithm with virtual elections. The main difference between the two is that Hedera is governed by a permissioned Council of 26 (up to 39) while Fantom is mostly decentralized. > > Hedera has [3-5 second deterministic finality](https://hedera.com/hbar), which is noticeably slower than Fantom's 2-second finality, but is still very fast. > > Hedera was launched in 2019 as a centralized DLT targeting institutional and enterprise companies. It is not meant for the retail sector and has almost no DeFi activity. > > ##Semi-Centralized Proof-of-Authority DLT > > - Hedera uses **Proof-of-Authority** (PoA). It has [semi-centralized governance](https://docs.hedera.com/guides/core-concepts/hashgraph-consensus-algorithms) controlled by the 26 (up to 39) members of the governing council, made up of [publicly-known companies](https://docs.hedera.com/guides/mainnet/mainnet-nodes), and the 7 board of directors. The council each control their own permissioned validator used for consensus. > - New members of the [council are approved by majority vote](https://files.hedera.com/Hedera_COUNCIL-OVERVIEW_2022_JUNE.pdf), and existing ones may be removed by 2/3 vote. Council members can serve 3-9 years consecutively before they have to take a 3-year break. > - There are barely any public details about the staking power of any of the nodes. There is also a Nothing-at-Stake issue because there is no slashing or economic punishments. They may get kicked kicked off the council for misbehaving, but there's no economic disincentive. > - The code was proprietary software that no one was allowed to fork, and it was closed source up until 2022. > - Its nodes have extremely [high enterprise-level requirements](https://docs.hedera.com/guides/mainnet/mainnet-nodes/node-requirements). 5 TB NVMe drives, a $10K NVIDIA Telsa V100 GPU, a 1 Gbps sustained network, Google Cloud Compute Engine VM. These specs are so high that they completely outclass Solana validator requirements. > - Every node has a dedicated GCP IP address, making Google Cloud Platform a possible a single point failure for outages. > > Hedera is designed to be controlled by a conglomerate. Hedera supporters truly believe that is still considered decentralized because they do not believe it's likely publicly-known companies will collude and misbehave. I do not think that design fits well with the crypto community, but acknolwedge that there is a niche community that embraces Proof-of-Authority. > > ##Untrustworthy documentation > > * Much of Hedera's documentation isn't based on the current state of Hedera Hashgraph, but on its ideal state. > * It says it has [a fully decentralized governing body](https://hedera.com/prescription)", which is misleading since they use a 26-member pre-authorized Governing Council. > * It calls itself a "[proof-of-stake public distributed ledger](https://hedera.com/learning/hedera-hashgraph/what-is-hedera-hashgraph)", but it's actually controlled by the governing council and uses Proof-of-Authority. The public hasn't been able to stake (other than the questionable "proxy staking") on it since Hedera's launch 3 years ago. > * For comparison, VeChain is more decentralized than Hedera Hashgraph with its 101 authority nodes and [publicly-available data on their nodes](https://vechainstats.com/authority-nodes/). But at least VeChain is honest about being Proof-of-Authority and even calls itself a [compromise between centralization and decentralization](https://docs.vechain.org/thor/learn/proof-of-authority.html) in their documentation. > * **Real Throughput**: 10K TPS is extremely misleading because it doesn't take into account EVM smart contracts. It published those metrics in 2019, when the smart contact throughput [was 10 TPS](https://ercwl.medium.com/hedera-hashgraph-time-for-some-fud-9e6653c11525), and that was the throughput for Hedera up until Smart Contracts 2.0 released in early 2022. > * Unfortunately, there are no good real estimations for max throughput because Hedera lacks dApps and is a ghost town. It's not congested and regularly sees 5-30 TPS without dApps, so it doesn't get pushed to its limits. With the introduction of Hedera Token Service, Hedera has now somewhat caught up to the misleading documentation it had for 3 years. HTS has an upper limit of 10K TPS, but not everything is going to use it, and [smart contract transactions are throttled at 350 TPS](https://docs.hedera.com/guides/mainnet). Some actions, like TopicCreate and AccountCreate transactions on Hedera are down to 2-5 TPS. We don't know what a real performance is going to look like until Hedera builds up its DeFi presence. What we do know is that it's going to be well below 10K TPS and that it was dishonest with throughput documentation prior this year. > > > ##Horrible Tokenomics > > - There is 38% expected supply inflation in 2022, 50% inflation in 2023, and a [whopping 83% inflation in 2024](https://messari.io/asset/hedera-hashgraph/profile/supply-schedule). I'm very skeptical that the retail sector investing in Hedera is aware of how quickly the circulating supply is increasing and has priced that in. > - Only 42% of the supply has currently been released, guaranteeing high inflation for years down the line > - Hedera very likely passes the Howey Test and would be considered a security asset. It is controlled by a council of 26 companies with a large investment of staked HBAR. Holders of HBAR have an expectation of profit derived from the work of Hedera Hashgraph. > - Nearly [50% of the supply](https://messari.io/asset/hedera-hashgraph/profile/supply-schedule) has gone to employees and the foundation. The majority of the rest (40%) is going to the Hedera Treasury. > - The tokenomics a lot like a giant cash grab ICO that will have years of high inflation. That's extremely scary for a retail investor. > - The 50B token maximum should not be trusted at all and likely will not hold. Those validator nodes that control governance are not cheap and will not run themselves freely once the supply limit is reached. By putting an arbitrarily-high supply, they've simply pushed governance change for tokenomics to be dealt with in the future. > > ##Other > > - DeFi is practically non-existent on Hedera, not surprising since it was built centralized. According to both DefiLlama and DappRadar, Hedera has only one notable DeFi project: Stader. Hedera's [total DeFi TVL of $40M](https://defillama.com/chain/Hedera) is less than 1000x smaller than [Ethereum's](https://defillama.com/chains) and 25x smaller than the nearly-identical Fantom's, which has over 100 DeFi projects on it. > - Hedera uses a [predictable fee schedule](https://docs.hedera.com/guides/mainnet/fees). Token transfers are very cheap at $0.0001. Smart contracts gas fees are considerably more expensive at $0.05 to $1. That's actually really expensive for a 25-node centralized service, but the high fees aren't too surprising because it uses EVM, which is known to be inefficient. ***** Would you like to learn more? Check out the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_hedera) to find submissions for other topics.
Well. Got another Xbox One black with a 2TB SSD (Samsung Evo 870) and a drifing controller available?!
Hashing is not encrypting. Hashes cannot be reversed. I can hash a 4 TB hard drive down to 64 character hash string. How are you going to "reverse" back 4 terabytes of movies out of 64 characters? You can't. Read a wikipedia article or two.
You don't need to run a node "to support the network". A node allows you to verify transactions in your noncustodial wallet (Sparrow, Electrum, Specter) and maintain privacy (if you connect to a random node or a random electrum server, how do you know that server isn't dishonest, or run by Chainalysis and logging your IP address), when looking up your wallet balance and when broadcasting a signed transaction (especially if you use Tor). On balance I would recommend Raspiblitz (free), or myNodeBTC ($99) on a Pi4B with 8GB RAM and a 1TB SSD
Listen to the first 10 episodes of "Stephan levera podcast". Listen to this "[Blue Collar Bitcoin Ep.](https://open.spotify.com/episode/3nrQClGKIF6gBb6mq1TB6V?si=WmEQ4Kh7RRqExESpcjZpiA)" Then this one with [CROESUS](https://open.spotify.com/episode/6X2rvVPMnJ3lx2AvvrI32A?si=U5B8EduSTdmVsYS4MRWoEA) Then this Bitcoin Audible: [No we're not going to tokenize everything.](https://open.spotify.com/episode/1ooLmfTjwVMb3s0Q5eWghU?si=pHFc7Y7oR_e4ONYEOqd-Gw) Then this Citadel Dispatch: [Trading vs. Stacking](https://open.spotify.com/episode/0ntY8foAxqyA7zeggl7cYJ?si=y8B2XfKuReupAuATY3NuYw) Then [The Bitcoin vs. Government war is Vaporware ](https://open.spotify.com/episode/3DSMQZs80ft4D9PdKxwe9U?si=w_XmBm6CSa2GVPqBvGf4QA) [Powering Africa with Bitcoin Mining ](https://open.spotify.com/episode/3F56T5aMJeOauhjvRcZcAn?si=KOLPAbgfQ0uYhUhPwWVlQQ) Come back for 40 more when you're done with these.
Listen to the first 10 episodes of "Stephan levera podcast". Listen to this "[Blue Collar Bitcoin Ep.](https://open.spotify.com/episode/3nrQClGKIF6gBb6mq1TB6V?si=WmEQ4Kh7RRqExESpcjZpiA)" Then this one with [CROESUS](https://open.spotify.com/episode/6X2rvVPMnJ3lx2AvvrI32A?si=U5B8EduSTdmVsYS4MRWoEA) Then this Bitcoin Audible: [No we're not going to tokenize everything.](https://open.spotify.com/episode/1ooLmfTjwVMb3s0Q5eWghU?si=pHFc7Y7oR_e4ONYEOqd-Gw) Then this Citadel Dispatch: [Trading vs. Stacking](https://open.spotify.com/episode/0ntY8foAxqyA7zeggl7cYJ?si=y8B2XfKuReupAuATY3NuYw) Then [The Bitcoin vs. Government war is Vaporware ](https://open.spotify.com/episode/3DSMQZs80ft4D9PdKxwe9U?si=w_XmBm6CSa2GVPqBvGf4QA) [Powering Africa with Bitcoin Mining ](https://open.spotify.com/episode/3F56T5aMJeOauhjvRcZcAn?si=KOLPAbgfQ0uYhUhPwWVlQQ) Come back for 40 more when you're done with these.
It's all about demand and supply. Let's take the example of CDs When they first launched, nobody had them. They were a revolutionary tech. Everyone wanted one for songs or games so high demand low supply. So they were costly. When technology started booming, too many CDs were created. So demand meeting supply. Hence the price fell a bit. Later on when no one wanted CDs after drives and TB discs became relevant. Hence demand low supply high. So the price plunged to the bottom. Similar is the case of BTC. When everyone is selling, it's high supply low demand. Hence the price plunges low. When everyone buys it, low supply high demand. Hence the price rises. This is because say I have 10 BTC and I know people are interested. I would surely quote a price to sell my BTC that is greater than what I paid for it. This is known as a sell order. If I bought at 20k, I could be ready to take profit at 30k if I think it won't go higher right now. So I place a sell order around 30k. When the buy order of another person is at 30k, the demand supply gets met.
Article body: The Filecoin Virtual Machine: Supercharging the Filecoin economy When FVM launched, the community was energized by the prospects of moving much of the Filecoin economy’s activity on-chain. We were hoping that the FVM would accelerate our path to achieving key goals of the Filecoin Master Plan. A few of those priorities included: The on-boarding and management of datasets onto what is the largest decentralized cloud storage network in the world with more than 12M TB of capacity offered at cost-competitive rates. Today, 100 days after launching the FVM, smart contracts are able to facilitate and aggregate storage deals fully autonomously, thus helping storage clients find the best storage provider for their specific needs automatically. Additionally, FVM allowed the Filecoin community to build discovery and reputation services on the Filecoin blockchain and increase transparency of the network. Many of the Filecoin block explorers have begun augmenting their dashboards with data pulled directly from the Filecoin blockchain and helping guide decisions and bring greater trust and transparency to the Filecoin network (e.g., by verifying smart contracts). The FVM also promised to facilitate the leasing and borrowing of FIL, Filecoin’s native token which is used by Storage Providers to commit to, grow, and secure the Network. To start, many prominent cryptocurrency exchanges quickly implemented support for FVM wallet address compatibility (f4) so that Filecoin network participants could interact not only with the new FVM dApps, but also familiar tools like Metamask. Specifically, to-date, over 82,000 unique wallets have interacted with FVM since launch. Furthermore, measured by growth in Total Value Locked (TVL), decentralized financial services on the Filecoin network are the fastest growing (+140% MoM) in the Top 100 of all blockchains now reaching almost 4.5M FIL across several providers. At launch, community members hoped that the FVM would augment the functionality of products and services emerging in other web3 communities using Filecoin and the FVM’s capabilities (e.g., data storage). Roughly three months after launching the FVM, multiple integrations with bridges such as Axelar and Celer and over 35 other key partners have brought Filecoin closer to the rest of web3, enabling a rich set of message and transaction exchanges between the Filecoin and other web3 ecosystems. Many unique smart contracts and dApps (more than 1,200 combined) have been launched on FVM, however the user base of many of these apps is still relatively nascent. Over the next weeks and months, the Filecoin community aims to continue accelerating the success of FVM. dApps that unlock utility for end-users These new possibilities unlocked by the FVM have led to a flurry of developer and entrepreneurial activity – both of existing and new communities. At the time of writing, there are over 1,100 unique smart contracts powering dApps that have been deployed to the Filecoin network. There are over 80,000 wallets that have been created and begun interacting with these FVM-powered dApps. And we have surpassed 2.8M FIL in total balance across FVM accounts and contracts. The FVM’s full compatibility with the EVM that runs on top of the Ethereum blockchain, helps many new-to-Filecoin developers make rapid progress when deploying their solutions on the Filecoin blockchain, as a result, the community interest in hackathons continues to soar. Specifically, we have hosted two FVM-focused hackathons, Space Warp (pre FVM-launch) and HackFS, which have attracted over 1700 developers combined. In addition, all open project slots for two dedicated FVM-accelerator programs have been fully committed with teams building products and services at the frontier of this new technology. There are also numerous notable decentralized applications that have launched on FVM and span across multiple categories. Although the Filecoin Ecosystem Directory is currently being revamped, it will soon be the best place for community members to add to or browse the ever-growing list of products and services running on Filecoin. But for now, here are just a few of the incredible web3 projects who are building on or have integrated FVM. Infrastructure Tools Axelar Celer Tellor Filfox Starboard Beryx Metamask Brave Squid Router Kraken Storage & Cloud Services Spheron Lighthouse Saturn Bacalhau Education, Science & Public Goods Lagrange DAO Shale Protocol Media & Entertainment Waterlily Trustified Filemarket NFT Forever Resolutio Filecoin Pledging Glif Collectif DAO stFIL SFT Protocol Filet Finance HashMix NodeDAO FilFi The road ahead: Filecoin to shape the open data economy In the past quarter, we focused on securing key partnerships and removing roadblocks. As we launch into the second half of 2023, we expect to prioritize experience for both users of FVM dApps as well as developers working with FVM. We plan on building with a focus on smaller storage deals, in order to democratize storage on Filecoin and FVM. This will allow building dapps and DAOs around pieces of individual, user-uploaded data. They can create unique incentive flows in order to replicate, renew and repair storage deals on top of this democratized standard. We are working with aggregators on Filecoin and making them FVM native – so that builders can upload small pieces of data via their dapps and smart contracts. We are also building a decentralized aggregation standard that will allow anybody to spin up “data dropboxes” for FVM. We want this to enable truly trustless aggregation on Filecoin, all managed on-chain through FVM. Dapps and DAOs can be built on this standard so that new data can be uploaded, and storage deals can be renewed, replicated and repaired all through a decentralized aggregation standard. What kinds of things do we expect to unlock down the road? A bunch of awesome platforms on top of FVM: decentralized compute, data marketplaces, and DAOs built with LLMs and generative AI. We expect teams to build a marketplace for arbitrary compute jobs, especially for model training and inference on top of data stored on Filecoin. We predict robust marketplaces for IPNI dispute resolution, data preparers, and REC tokenization. We expect LLMs to play a central role in open source generative AI models, all built as dataDAOs on top of FVM (read more here). With data, AI and compute, the future is bright for FVM! Finally we are doubling down to make sure FVM is easy to use. We want it to be painless to upload funds, data and smart contracts onto FVM. We are working with our close partners – wallets, exchanges and explorers – to make sure these onramps make sense for builders. If you want to build in this space, let us know! Check out the most recent Filecoin and IPFS Ecosystem Roundup for a comprehensive view on the developments in this ecosystem and more insights and commentary. Stay up to date with FVM As mentioned above, it is never too late to get involved in building with FVM! If you’re looking to get involved in upcoming hackathons, check out the Filecoin Ecosystem Hackathons home page. Or, if your project is accelerator-ready, check out Softnoise, by Protocol Labs to find the one perfect for you. Lastly, still itching for more FVM resources? Take a look at the FVM linktree.
#Hedera Con-Arguments Below is a Hedera con-argument written by Maleficent_Plankton. > Hedera Hashgraph is Delware Limited Liability Company. > > **It's also a Directed Acyclic Graph DLT that uses a leaderless asynchronous BFT algorithm with virtual voting.** This is the same as Fantom, which is also a a Directed Acyclic Graph DLT that uses a leaderless asynchronous BFT algorithm with virtual elections. The main difference between the two is that Hedera is governed by a permissioned Council of 26 (up to 39) while Fantom is mostly decentralized. > > Hedera has [3-5 second deterministic finality](https://hedera.com/hbar), which is noticeably slower than Fantom's 2-second finality, but is still very fast. > > Hedera was launched in 2019 as a centralized DLT targeting institutional and enterprise companies. It is not meant for the retail sector and has almost no DeFi activity. > > ##Semi-Centralized Proof-of-Authority DLT > > - Hedera uses **Proof-of-Authority** (PoA). It has [semi-centralized governance](https://docs.hedera.com/guides/core-concepts/hashgraph-consensus-algorithms) controlled by the 26 (up to 39) members of the governing council, made up of [publicly-known companies](https://docs.hedera.com/guides/mainnet/mainnet-nodes), and the 7 board of directors. The council each control their own permissioned validator used for consensus. > - New members of the [council are approved by majority vote](https://files.hedera.com/Hedera_COUNCIL-OVERVIEW_2022_JUNE.pdf), and existing ones may be removed by 2/3 vote. Council members can serve 3-9 years consecutively before they have to take a 3-year break. > - There are barely any public details about the staking power of any of the nodes. There is also a Nothing-at-Stake issue because there is no slashing or economic punishments. They may get kicked kicked off the council for misbehaving, but there's no economic disincentive. > - The code was proprietary software that no one was allowed to fork, and it was closed source up until 2022. > - Its nodes have extremely [high enterprise-level requirements](https://docs.hedera.com/guides/mainnet/mainnet-nodes/node-requirements). 5 TB NVMe drives, a $10K NVIDIA Telsa V100 GPU, a 1 Gbps sustained network, Google Cloud Compute Engine VM. These specs are so high that they completely outclass Solana validator requirements. > - Every node has a dedicated GCP IP address, making Google Cloud Platform a possible a single point failure for outages. > > Hedera is designed to be controlled by a conglomerate. Hedera supporters truly believe that is still considered decentralized because they do not believe it's likely publicly-known companies will collude and misbehave. I do not think that design fits well with the crypto community, but acknolwedge that there is a niche community that embraces Proof-of-Authority. > > ##Untrustworthy documentation > > * Much of Hedera's documentation isn't based on the current state of Hedera Hashgraph, but on its ideal state. > * It says it has [a fully decentralized governing body](https://hedera.com/prescription)", which is misleading since they use a 26-member pre-authorized Governing Council. > * It calls itself a "[proof-of-stake public distributed ledger](https://hedera.com/learning/hedera-hashgraph/what-is-hedera-hashgraph)", but it's actually controlled by the governing council and uses Proof-of-Authority. The public hasn't been able to stake (other than the questionable "proxy staking") on it since Hedera's launch 3 years ago. > * For comparison, VeChain is more decentralized than Hedera Hashgraph with its 101 authority nodes and [publicly-available data on their nodes](https://vechainstats.com/authority-nodes/). But at least VeChain is honest about being Proof-of-Authority and even calls itself a [compromise between centralization and decentralization](https://docs.vechain.org/thor/learn/proof-of-authority.html) in their documentation. > * **Real Throughput**: 10K TPS is extremely misleading because it doesn't take into account EVM smart contracts. It published those metrics in 2019, when the smart contact throughput [was 10 TPS](https://ercwl.medium.com/hedera-hashgraph-time-for-some-fud-9e6653c11525), and that was the throughput for Hedera up until Smart Contracts 2.0 released in early 2022. > * Unfortunately, there are no good real estimations for max throughput because Hedera lacks dApps and is a ghost town. It's not congested and regularly sees 5-30 TPS without dApps, so it doesn't get pushed to its limits. With the introduction of Hedera Token Service, Hedera has now somewhat caught up to the misleading documentation it had for 3 years. HTS has an upper limit of 10K TPS, but not everything is going to use it, and [smart contract transactions are throttled at 350 TPS](https://docs.hedera.com/guides/mainnet). Some actions, like TopicCreate and AccountCreate transactions on Hedera are down to 2-5 TPS. We don't know what a real performance is going to look like until Hedera builds up its DeFi presence. What we do know is that it's going to be well below 10K TPS and that it was dishonest with throughput documentation prior this year. > > > ##Horrible Tokenomics > > - There is 38% expected supply inflation in 2022, 50% inflation in 2023, and a [whopping 83% inflation in 2024](https://messari.io/asset/hedera-hashgraph/profile/supply-schedule). I'm very skeptical that the retail sector investing in Hedera is aware of how quickly the circulating supply is increasing and has priced that in. > - Only 42% of the supply has currently been released, guaranteeing high inflation for years down the line > - Hedera very likely passes the Howey Test and would be considered a security asset. It is controlled by a council of 26 companies with a large investment of staked HBAR. Holders of HBAR have an expectation of profit derived from the work of Hedera Hashgraph. > - Nearly [50% of the supply](https://messari.io/asset/hedera-hashgraph/profile/supply-schedule) has gone to employees and the foundation. The majority of the rest (40%) is going to the Hedera Treasury. > - The tokenomics a lot like a giant cash grab ICO that will have years of high inflation. That's extremely scary for a retail investor. > - The 50B token maximum should not be trusted at all and likely will not hold. Those validator nodes that control governance are not cheap and will not run themselves freely once the supply limit is reached. By putting an arbitrarily-high supply, they've simply pushed governance change for tokenomics to be dealt with in the future. > > ##Other > > - DeFi is practically non-existent on Hedera, not surprising since it was built centralized. According to both DefiLlama and DappRadar, Hedera has only one notable DeFi project: Stader. Hedera's [total DeFi TVL of $40M](https://defillama.com/chain/Hedera) is less than 1000x smaller than [Ethereum's](https://defillama.com/chains) and 25x smaller than the nearly-identical Fantom's, which has over 100 DeFi projects on it. > - Hedera uses a [predictable fee schedule](https://docs.hedera.com/guides/mainnet/fees). Token transfers are very cheap at $0.0001. Smart contracts gas fees are considerably more expensive at $0.05 to $1. That's actually really expensive for a 25-node centralized service, but the high fees aren't too surprising because it uses EVM, which is known to be inefficient. ***** Would you like to learn more? Check out the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_hedera) to find submissions for other topics.
An easy way is to buy a top of line raspberry pi with a 1 TB SSD and install Umbrel on it. You can also purchase premade nodes. You can also install it on a computer if you want.
Sounds like he’s got everything ready, just needs you to help set them up and get them going. This is a great opportunity for you to learn. A regular old laptop is fine for this adventure. You just need a 1TB drive to download and store the chain. Might want to make it 2TB if he’s planning to keep doing this. You have 8 petahash there, so if he wants to split between pools, just ask for a few suggestions. There are classes you can take to learn how to repair ASICS for when that day comes.
> I’ve read that it will need 20-50GB of free space. Storage space is cheap. A 1TB SSD or a 2TB HDD was only about $60 last time I looked. I don't know if you would need to maintain the full blockchain, but if so, that's around 500GB by itself.
> I'm uninformed on what might be being developed to address this issue, but one point I can address is about the required size of the bitcoin network. The required size of the Bitcoin network is greater or equal to two nodes. The recommended size is as many nodes as possible, perhaps billions. The more, the more secure the network is. A more restrictive element of the network might be the size of the blockchain on disk, it's hundreds of GB. I can't keep it on my 1TB hard drive anymore and have room for my other things, so I got rid of it. Fortunately, Bitcoin has been going for a very long time and still is still reasonably affordable to store on disk. >Once the network passes a certain size, it will work with about the same effectiveness regardless of how many more miners join. There are multiple scalability solutions in the works. They are being tested. If devs do good testing and push forward and if the majority enable the feature, it goes live. Some solutions reduce the diskspace requirement. LN is a great scalability solution for TPS. >So right now there are a lot of miners because it still can be profitable with the right equipment. But with more halvings, there might be fewer and fewer miners and network difficulty will scale back to account for this. So the size of the network is very correlated to the profitability of mining. The network can scale to any size and to any condition. Miners are needed. I don't think the network will ever be vulnerable from not enough miners. There will always be as many miners as there needs to be. I think miners will keep increasing over the next century because of the increase in renewable clean energy and also because some people have very good rates on electricity, especially on passive renewables. A dam might produce 100 MW of power, right, constantly, but the further you get away from the dam the less efficient the production due to transmission loss. Well, people near the dam might only need its capacity in the heat of the day, but at night all that energy is still generated by the dam. That excess power has to do something, might as well mine Bitcoin with it. So there's probably going to be a bitcoin miner there taking advantage of the extraordinary inexpensive electric rate then.
Just finished syncing my node myself. Using an old laptop, i3, 4gb memory. I started with the original 1TB HDD, but this was taking forever (about 4 days to get to 20% sync). Changed to a 1TB SSD and sync took about 5 days. Needed another 1 or 2 days after I added the transaction index (txindex=1, this is not set by default)
imo nothing wrong with a pruned node. i have a spare ssd that isn’t big enough for the whole block chain and that’s my contribution to the network. it just means that i only store the last couple of years. the previous ones have still been cryptographically proven during the initial sync. this community can seem a little elite and purist sometimes at the detriment of people adopting cool technology. a nuance to this is if you’re running a lightning node that might have some ramifications if you lose history i think. 1TB is a lot of blocks though lol
Not for the computer itself. I see no issues running the node. The node does take forever for the initial block download. This is part due to the fact that I am using an external hard drive. In the past I ran a node on an old 2011 Mac Mini with 1 TB of an SSD, 16 GB RAM. The block download was like 3 days- it was so fast. All this to say that in most cases you don't need to buy a new setup for a node- in my opinion you're better of just getting an external hard drive for $50 and setting your node to download blocks there, and just waiting for the IBD to complete. A new computer, while faster, is just adding extra complications.
I simply run mine on my desktop computer with 8GB RAM, 256 GB storage (I actually use an external 2TB hard drive). It runs fine no problem, after the initial sync concludes.
> Wouldn't that be hugely inefficient and impractical? Inefficient in a 1980 view of computing resources. Efficient in a 2008 view Very practical, solves a problem in a way which efficiency freaks could never contemplate. In other words, 2007 marks a point in time where computing and network resources became cheap and plentiful enough to discard the efficiency rules which had constrained software since the1960s. By discarding these rules, the Bitcoin developer was able to innovate > If >50% of bitcoin users just decide not to adopt a new update, does it just fail? No, but read about forks https://petertodd.org/2016/forced-soft-forks https://blog.lopp.net/has-bitcoin-ever-hard-forked/ Also, 50% is irrelevant to Bitcoin's actual mechanism. Bitcoin has no voting > how are they going to be hosted? This comes back to the first point. It's not 1986, when a 20MB HDD cost $20k. Storage is extremely cheap To digress, Bitcoin has capacity constraints built into the software. The two important constraints are * 10 minute interval between blocks * 4 million "weight units" per block Don't stress about weight units. There was a tweak which enabled block size to increase from 1MB, to 1vMB, where vMB is a calculation where some bytes are weighted 1:4 because they don't occupy RAM. This means it's possible to have 4MB blocks (a 3.7MB Ordinals JPEG is weighted 1:4 because it's in a txinput witness stack), but most blocks are 1.4MB to 1.7MB. Bitcoin's ledger grows at about 80GB to 90GB per year. A single HDD purchased today will store 150 years of Bitcoin transactions The most significant constraint for keeping Bitcoin nodes affordable is RAM footprint. Of all the resources needed to operate the Bitcoin node network - network, CPU, storage, RAM - RAM is the most sensitive. The reasons for this are complicated. This fact is poorly understood Specifically regarding Ordinals, there are two points. Firstly, it costs at least $140 in transaction fees to send a 3.7MB Ordinals JPEG. That's why there is only one example of this, and that example was possible because a mining pool agreed to mine the transaction for zero fee Secondly, as the recent history proved, the publication of Ordinals JPEGs on Bitcoin was a temporary fad, because of the fees, because the transactions filled mempools, increasing fee rates, and because the fees are only affordable if there is a speculation market for the JPEGs (as NFTs) to create income greater than the fees. The speculation market happened, and then died But that's not relevant to what you're asking. The simple fact is that storage is less than $20 per TB, so there is no issue If you ask the same question about ETH or BSV, their blockchains are bloated past the point of affordability, and there are only a handful of full archive nodes storing those chains
FYI the software is free and you can put it on a raspberry pi and 1TB SSD that will cost less than $300 total. The price tag on the website is for their beefy mini PC that will blow a pi out of the water, but honestly a pi is more than sufficient for hobbyists. My pi has been going for years.
>So I'm completely new to the cryptocurrency scene and after reading online resources for days I still can't wrap my head around it. Bitcoin solves the trust problem. How to send value across the world without using a trusted middleman such as a bank. Bitcoin is so called trustless. >So I get that it's decentralised, so does that mean every single device that uses bitcoin has the entire set of ledgers ever created? Only miners have to store the ledger. You can too by running a node, it is good for you to (so you don't need to trust others), but most people don't and it's not necessary to use the network. When you send BTC somewhere you send your transaction to a node who relays that information across the network to miners. Bitcoin is so-called mined using proof of work. Miners expend energy essentially running random number generators until they find the (hash) number that wins the lottery, which wins them the ability to build the next block. Every miner is competing with each other miner in POW, it is a race, but most work in 'mining pools' as super units to remove the randomness or lottery aspect of mining (for frequent small rewards instead of infrequent large rewards). Bitcoin's difficulty to mine is dynamic. The network self-adusts so each block takes 10 minutes to mine. If the last block was mined in 5 minutes the difficulty doubles, so on. It is incredibly difficult today to mine a block with so much hashrate going into the network, most people cannot even mine at profit without special circumstances (eg free energy). In Proof of Work the longest blockchain is the only valid blockchain. If a chain has 20 blocks and another chain has 25 blocks the network always assumes the 25 block chain is the valid chain and builds from that. Currently the reward for mining a block is 6.25 BTC so a rational miner will expend up to 6.25 BTC in energy/cost mining for each block, this is what secures the network as you would need to expend more energy to win the lottery faster other miners can, and all rational people won't spend 6.25 BTC to not claim the reward by acting maliciously. As long as 51% of the network is 'honest' ie rational this system works great. Which makes Bitcoin "#1" because practically all of the available POW is spent on it (it is the most profitable to mine). 1% of BTC miners may represent 80% of the 'hash rate' on another POW chain, that 1% could mine several blocks by the time the 'honest' miners get one out, so the 1% could control everything on that smaller network making it insecure. >Wouldn't that be hugely inefficient and impractical? Yes but it works. Blocks are only 1MB, and the Bitcoin ledger is just under 500GB today. Every miner must store the full blockchain. This is why blockchains that have say 100MB blocks aren't viable because they would very quickly trend toward centralization, as no one could afford the 50TB required to store that ledger. There was a massive heated debate a few years ago that Bitcoin should increase its block size, some people thought yes and some thought no until someone 'forked' (made a copy of) Bitcoin with 32MB blocks what is today called Bitcoin Cash, which was one of the most controversial things to happen in crypto (it was *almost* called Bitcoin, had there been consensus). >How are updates rolled out? If >50% of bitcoin users just decide not to adopt a new update, does it just fail? Nodes and miners decide this, not users. There are soft-forks which are backwards compatible and hard-forks which are not, Bitcoin is notoriously against any upgrades that require a hard-fork (in case of emergency only). If the nodes don't broadcast to the miner a change cannot go through, and if the miner does not comply it also cannot go through. It requires 51% of each of these groups to implement a soft-fork. To implement a hard-fork miners and nodes would need to upgrade their software which is very manual and opt-in so if only 49% upgrade they will be overshadowed by the miners who did not upgrade (overshadowed in the sense the 51% will be able to build more blocks so their chain will be the longest therefore the valid blockchain). >And back to the topic of hosting every single ledger in every device that uses bitcoin, even if the blockchains are insurmountably small and even a million blockchains would somehow be as large as a small image file, what about ordinal NFTs, the bitcoin equivalent of the ethereum NFT, how are they going to be hosted? Sorry if I seem incredibly dumb for asking this, I just suck at learning new things I guess. There is only 1 blockchain. Transactions go into a queue (called the mempool) which are picked up by nodes and organized into blocks by miners. The fees you pay when sending a transaction go to the miner so by adjusting 0 fee if there is anyone else in the mempool your tx will be ignored for a more profitable tx, this fee also serves to reduce spam in the network (but can grow excessively during congestion). Once a miner builds their block they attach it to the end of the blockchain, then it all repeats. Ordinals are unusual things. They take loose bits of data that are already in the block and effectively encrypt it in such a way an image appears. All the data is already in the block. This 'encryption process' is an off-chain protocol and has nothing to do with Bitcoin or its miners, in other words that extra process isn't stored in the ledger. Ethereum NFTs are similiar in that data isn't stored on the ledger. Most Ethereum NFTs (99.99%) are external links to IPFS and the ledger only stores the text link and some metadata. It isn't viable (cost effective) to use a decentralized blockchain for file storage. No harm in asking. That's more than most people do before forming their opinions!
Dude. I got an 8 TB portable HDD (spinning disk) I plugged it into my desktop using the 3.0 USB for faster data transfer And my internet bandwidth is 110mbps. I'm about 25% synced up with a full BTC node been syncing up for just over 1 day now. I should definitely be 100% synced up at the end of this week. 😀
Yeah exactly. I bought a 1TB SSD for this.
not sure what would be the advantage of blockchain... last i've read, you just need ~1TB of disk space and a decent computer to run ChatGPT
It’s dumb because when it scales, all nodes will have to be like 100TB. The block size is way too big
> Maybe a "pruned" version Phones can support 2TB micro-SD now. For whatever reason (hint: iCloud), Apple phones do not have micro-SD ports
At the rate of computing power this isn’t much of an issue and by by fewer miners, we’re still talking about thousands scattered across the globe in the future. Plus, mining pools are already heavily centralized on both BTC and BCH. We have 20+TB hard drives with larger drives to come and 10gig fiber becoming available in many places. This allows miners plenty of room and isn’t a bottle neck that might once have been.
I tried pools for a while but eventually the time commitment to plotting on my 8TB became to much for the small reward.
you should get a reliable SSD of 1TB. a slow one is no problem.
Woot, if only TB hadn't taken our boy at the height of his popularity.
Attached a brand new 1 TB SSD and started a sync of core. My SSD reported “disk full” at 90% sync. I was under the understanding that I only needed about 500 gb for a full sync. Any ideas on what I can do. Hopefully I don’t have to start all over. Thanks
You don't need a display for a Pi node, all you need is a Pi4b (minimum 4GB), a USB3.1 external storage (1TB SSD or NVME recommended), an Pi power brick, a microsd and a case. They sell kits of that from amazon.
Running websites as smart contracts guarantees the security of connections to them - the internet computer uses Internet Identity to create those connections. No user names, no passwords, no hacking. No backdoor into a system when it requires this kind of connection. No SQL database that can be downloaded to CSV and sold. This happens all the time. ETH is not providing any of this security on the web. The DAO controls the software/smart contract. They vote on the changes being implemented. The smart contract cannot be altered unless it goes through the DAO as a passing vote. This puts the application fully in the hands of it's users. ICP total canister state is 3.2 TB right now and growing. Subnets are their own blockchains for storing data and it's about $5 per year for GB on ingress. All of that does mean something. HTTPS outcalls to web2 APIs is a huge feature that lets you bypass oracles to bring off-chain data on-chain. The SNS is the only system of it's kind for converting your dApp to an actual DAO. DYOR still applies here. I cannot explain the entirety of the Internet Computer in posts here.
Let me break doen your own comment: > Serving web content from the chain wrapped entirely in a smart contract, writing and signing transactions directly to Bitcoin (and soon ETH), Why do you think websites need this? As it currently stands websites don’t need to be decentralized at all. There is no added benefit but I’d gladly hear your thoughts. I do think that ceratin PARTS of a website can be smart contracts. But this can already be covered by other blockchains such as Ethereum. > entirely ran as a DAO with truly autonomous software, What would be the function and/or tasks of the DAO in this case? Generally curious > storing GB of data on-chain, This wil incentivize centralization. You are also not looking at GB but TB or even more if you want ICP to do what it claims to be doing > HTTPS outcalls from the chain to web2 APIs, SNS launchpad for projects to convert to a DAO, etc, etc. You are deliberately confusing the reader here by not using readable grammer. All of this literally means nothing. If you don’t care to explain any of it, then don’t mention it. Id be happy to hear a more extended version from you.
>Bitcoin Is a Social Project. Cryptocurrencies Are Just Financial Projects 
>the world is not just the US 
Thanks all for the response. I think I will go ahead and buy 1 TB SSD and keep a full node. I was not able to articulate my thoughts. My question was: Does a block from the pruned node (assuming it is not yet pruned) and a full node match?
>is there a way to use the coldcard directly with Bitcoin Core? (and would that be more private?) and/or is there a way to setup TOR connectivity with electrum or core Bitcoin Core + Specter, and Bitcoin Core + Sparrow can both be used with Coldcard, and airgapped via MicroSD is you wish. Bitcoin Core + Tor + Electrum Server (Electrs or Fulcrum or EPS) works with Sparrow, or Electrum. I recommend SparrowWallet and if you want simplicity a Pi4 with 8GB + 1TB SSD running Umbrel/Raspiblitz/myNodeBTC
I agree, 2TB HDD and 1TB SSD prices are low. The idea of storing the full blockchain, is the way to do it.
How about just investing a hand full of bucks and get a 1 TB SSD or invest half a hand full of bucks and buy a shitty Hdd of the same size and store the full blockchain?
Bitcoin is #1 not because of First Mover Advantage... But because it's *based* on First Principles. How does a *global* P2P monetary consensus network need to be designed to operate fairly? 10 minute block times. Small blocks for the time being to still operate on less than 1 TB drives for the next few years. It should be based on Trust Minimization above all else, meaning decentralized PoW mining with decentralized nodes. It should have a finite supply cap with disinflationary supply issuance that halves every so often, generating FOMO that makes it more valuable. And that whole concept relies on a difficulty adjustment every so many blocks that maintains a somewhat constant output between halvings... or else greater PoW hashrate would lead to an inflationary network instead of a disinflationary one. Everything about Bitcoin is designed to be the perfect form of digital money, where value should be held over time... even if price in fiat currency is volatile over time, this is how true free markets work. No backstops, no circuit breakers, unstoppable 24/7 operation means Bitcoin is the ideal global monetary network. Want faster or cheaper payments for coffee? Sacrifice a *little* bit of security and use Lightning... But the base layer does be based on security and trust minimization above all else.
Fees from L2 actually do count because increased economic activity on L2 allows for higher sats/vbyte fees at L2. Go read about the newest L2 development ARK and this path will become extremely obvious. There will inevitably be security/scalability/decentralization trade-offs, which is the entire point here. A 1-2TB is already the recommended block size for the current bitcoin node runners. Larger blocks would put hardware out of the price range of the average person in the long run.
1. The 1MB of non-witness data is full. The SegWit 'smart' solution for more TX space without a hard-fork can't be done again. 2. Doesn't exist. Crypto is difficult enough to use as is, using Lightning network without relying on a 3rd party (watch towers) is a joke. I assume other L2 solutions will have other security trade-offs. 3. 2 TB SSD's are going for less than $200. It'll keep getting better. 5. It's already been years.
That's insane. Today you can get a 1 TB thumb drive for $30 with free 2 day prime shipping.
I'm looking at *brand new* Western Digital hard drives, 2TB (two terabytes) on ebay for like thirty bucks, shipping included.
I see where you're coming from and I fully agree with most of what you wrote. Though I need I should clarify few things: ​ >I didn't get expensive hardware, although the hardware for a dedicated live server with 8GB RAM and at least 1TB SSD did run me $150.. The great thing about Bitcoin is that you can run a node on almost anything with a CPU, at least 2GB of RAM and a HDD/SSD that is big enough to store the whole chain. I spent twice as much on [my node](https://www.reddit.com/r/Bitcoin/comments/12ud056/a_new_full_node_is_born/) because I wanted to have a dedicated device and I could afford it. Having a dedicated device also made me dig deeper into installing and running my own private Electrum server, JoinMarket and all that. If my budget was lower, I would have settled for lower specs and considered upgrading later on. If I didn't have a budget at all, I would have just kept using an old laptop and see how far I could go with that. I consider it as a long-term project as I will be running my node for years to come. >While you're correct that they aren't mandatory to run Bitcoin Core, for me something like running my node of tor and CoinJoin implementation are non-negotiable and while I'm not sure if this should be the required standard as it may turn off a lot of folks that would otherwise be running Bitcoin Core, I do think privacy standard in Bitcoin are heavily lacking and the standard should be a lot more Privacy-by-Default. This is where things get very subjective. There is no required standard when it comes to building your own Bitcoin stack. Do you want to just help the network? You can run Bitcoin Core and that's it. Do you want to have a more privacy oriented approach and add a private Electrum server, Tor and coinjoin software like I did? You can do that. It's really up to the users. Obviously, the more you want to expand your Bitcoin stack the more you'll need to study and learn how to make sure that all these different softwares work with each other. >To your last point I disagree with you. I think even the plug and play full nodes are not easy and simple enough as I envision a future, Ideally with every household that uses bitcoin to be running a full node all the time. The fact there's around 10,000,000 addresses and 17,000 nodes to me is problematic. I wasn't expecting all of it to be easy but I was expecting most of it to be seamless and the fact that it isn't just means that there is a long way to go before hyperbitcoinization is possible. I also envision a future where every household on the planet runs at least one Bitcoin full node and even a miner but we're still far away from that. To me, Bitcoin today is like the Internet before GUIs were even a thing. Back then, even sending an email must've made people feel like they were top-notch hackers and today you just click here, type your message, click there and your message is sent. People who are curious and learn how to run and maintain a Bitcoin full node today are the ones laying the foundations of a new infrastructure for those who will be sending and receiving bitcoin without even knowing what **bitcoin-cli gettxoutsetinfo** does. Believe it or not, this is the future being built right in front of our eyes. It's not an easy out-of-box experience yet but people like me and you putting time and effort to get our nodes up and running is also what makes the Bitcoin protocol harder, stronger and more reliable every day that goes by.
That was my own cost, but I added a 1TB SSD - faster access, avoid the potential for corrupting your filesystem, no need to run in pruned mode, it just makes things easier.
My mistake, I stand corrected. The few Bitcoiners I follow are generally very privacy and resilience conscience so I guess I took their min requirements/standards as what the definition is, which I shouldn't have done. I didn't get expensive hardware, although the hardware for a dedicated live server with 8GB RAM and at least 1TB SSD did run me $150.. While you're correct that they aren't mandatory to run Bitcoin Core, for me something like running my node of tor and CoinJoin implementation are non-negotiable and while I'm not sure if this should be the required standard as it may turn off a lot of folks that would otherwise be running Bitcoin Core, I do think privacy standard in Bitcoin are heavily lacking and the standard should be a lot more Privacy-by-Default. To your last point I disagree with you. I think even the plug and play full nodes are not easy and simple enough as I envision a future, Ideally with every household that uses bitcoin to be running a full node all the time. The fact there's around 10,000,000 addresses and 17,000 nodes to me is problematic. I wasn't expecting all of it to be easy but I was expecting most of it to be seamless and the fact that it isn't just means that there is a long way to go before hyperbitcoinization is possible.
> having a dedicated server, not your personal computer no > run it over tor no but if you want, click INSTALL on the Tor browser bundle, or apt-get install tor. > run it 24/7 no, but just don't turn off computer then > who has 1TB of free storage on their computer anyway no that's an archiving node, or unprunned full node - but ok - have 1 TB of space. like, on your computer. > connect your wallets to your via Electrum server > set up whirlpool no
Hey OP, I see you're catching some flack over the post. Firstly, I don't want to belittle your achievement as others have done here, because that's simply rude. If you didn't have a strong technical background, then you should feel proud of yourself for getting your node up and running and learning some new skills in the process. That being said, it really is as simple as downloading the installer, verifying it's integrity to your satisfaction, and clicking install. I am a little concerned that noobs get discouraged from trying it, when they read posts like this which make it out to be more difficult than it is. I'll address your points: > having a dedicated server, not your personal computer That's not at all necessary. If you're actually handling funds on the node, then yes ideally it should be on a dedicated machine, but that doesn't need to be a remote server. A local PC dedicated to the task is just as good (better in fact, because it removes any trust relationship between you and the server host). > run it over tor Also unnecessary, and not what most of us are talking about when we say we run a full node. It's great if you want to enhance your privacy by running your node over Tor, but that's a separate task and a separate skillset from setting up the node. > run it 24/7 Also unnecessary, although it does mean you will be contributing more to the security of the network, compared to a "sometimes online" node. If you want to do this, it's as simple as disabling any sleep or suspend functionality on the machine running the node. > who has 1TB of free storage on their computer anyway Most PC enthusiasts have this, and if they don't, then it's as simple as buying an additional drive for $40-70 or less. Maybe the expense is daunting for some people, but if you have 40 bucks to budget for the task, then it is easy and straightforward to accomplish. > connect your wallets to your via Electrum server Unnecessary if your goal is simply running a node. By all means you should feel proud of yourself for setting this up, but it's not a reason to cite when you make the argument that setting up a node is difficult. > set up whirlpool Also unnecessary. I've been running full nodes off and on for nearly a decade. It really is as simple as running the installer. When you see the rest of us talking about running a full node, we are not talking about all this extra stuff. Congrats on your full node and welcome to the network. We are literally peers now!
Tried a pi4 and wasn't thrilled with the performance. Running an i7, 16gb, 1TB. Cost the same or less than a scalped pi.
lol that's not what's meant by running a Full Node. Can you do that, sure. What's meant when someone says their running a full node is usually: having a dedicated server, not your personal computer run it over tor run it 24/7 who has 1TB of free storage on their computer anyway connect your wallets to your via Electrum server set up whirlpool ​ You should read up on it if you're actually interested instead of commenting as if you're some maven who's hacked the system.
BTC came out in 2009, so in the past 14 years the blockchain grew to roughly 500GB. I reckon you can count on a 1TB hard drive for at least the next 7 years. Blocks are more full nowadays meaning the rate of BC expansion in terms of data is greater than the early days but 1TB will still get you to 2030 at a minimum.
I finally bit the bullet and spun up some validators using [eth-docker.](https://eth-docker.net/) The process took a weekend to learn (command line naive, never used Linux, not in tech, etc.). I work full-time 50-75 hrs/week. Maintenance for my validators have been maybe 5 minutes/week. I literally just look for updates for EL/CL clients and run the update command if necessary. It takes less than a minute to update and restart. Otherwise everything is on autopilot. Occasional power outage issues which resolves with a reset (autostart EL/CL on login). I bought a UPS as well and learned how to program it to safely shut down if there's a power outage and power back up once power is restored. I bought a NUC, 2TB SSD, some ram, and a USB keyboard/mouse, spent maybe $1000. It's already paid itself off rather easily. Nothing but profit from here given minimal electricity usage and already fast internet (fiber). The time taken to invest in the validators will probably pay off very well in a few years.
All I use is a 2TB usb HDD I already had, so doesn't cost me anything at all. Startup costs really depend what hardware you have lying around.
That’s probably a miner and not a node. You just need an old laptop or if you want to, can buy a smaller dedicated pc or raspberry pi pi. Then just a 1 or 2 TB SSD, load on an OS like Umbrel and away you go. Virtually no running costs.
2500/400=6.25 BTC. system reserved = 0.25(100TB). new partition size = 6 BTC. note: this will erase all data on current drive. press F to continue...
why not get a 1TB portable hard disk?
Raspberry pi 4B 8Gb Heatsink + fan, Umbrel, 2TB SSD
Its up and running! Currently at 232431 blocks. Bought an SSD of 2 TB and followed raspibolt! So glad its up and running!
Its up and running! Currently at 232431 blocks. Bought an SSD of 2 TB and followed raspibolt! So glad its up and running!
Sure thing: 1) Raspberry Pi 4 8GB 2) Pi Power Adapter 3) 2TB External SSD (I went with a Samsung SSD) 4) 32GB SD Card for the OS 5) Argon Neo Pi 4 Case 6) Ethernet Cable 7) SD Card Reader/Writer for flashing OS from PC That should be everything you need and more to run a setup like this. I went with a Pi 4 over a mini PC because of the lower power consumption.
> chances are it doesn’t run its own node which means it needs to rely on commercial node providers to connect to the blockchain. > The only way to be truly independent is if your wallet ran its own node. Your wallet doesn't need to run it's own node for you to connect to one. I use a variety of wallets which all connect to the same full node on my network. > The money to stay connected to the blockchain 24/7 must come from somewhere It doesn't cost much to run a node, a Rock 5b board with a 2TB SSD costs about $400, and the running costs are negligible. If you don't mind having restricted client choice then you can even use a Raspberry Pi. > This means the wallet provider won’t need to find a constant revenue stream to pay off the commercial node providers. Do you have any evidence of this happening? Plenty of wallets are open source so don't really have any hidden agenda to sell you stuff. Don't get me wrong, I think it's great to encourage people to run their own nodes and connect to the chain themselves. There are plenty of advantages to doing so (such as being unaffected on the occasions when Infura goes down), but I'm not convinced that your arguments are completely based in reality...
Lightning is both non custodial and faster than your centralized shitcoin. There are trade-offs between decentralization and speed. Optimizing the base layer for decentralization and security by making it so you can run a node with the full history of the 14 year old chain on a raspberry pi and a 1 TB ssd and then building layers upon that is the right way to go. The only thing that gives a blockchain value is decentralization because otherwise it's just an extremely inefficient database.
I went with 2TB for longterm transactions. Remember everyday more transactions happen so in turn I don't want my hard drive to get too full any time soon
But for that it uses the 2TB drive, since the blockchain weights more than 500gb, no? That's why i dont understand the 16GB SD
Nice on the 2TB! I will need to upgrade mine soon, I only have 1TB
I run mine with a 2TB usb hard drive, works well. You don't want to fill up your laptop it will just slow it down.
You have to have other stuff running to use 96% of a 1TB disk, not just electrum
Not sure how you manage to 96% fill 1TB with just over 500GB of data. You must be a magician
I'm running on a 1 TB SSD as well. My OS is Linux Mint, and I have a full node with txindex, blockfilterindex and coinstatsindex turned on. That folder is currently some 600 GB large. I'm also running ElectrumX server in roughly standard configuration. That folder has about 82 GB. So in total I have still about 240 GB free on my 950 GB data partition. I would presume that there is some clutter on your system that could be removed. But I would say just go buy a 2TB drive as they are super cheap now. You can get a 2TB Samsung T7 external SSD for $130.
The eth blockchain will be 100TB in size, but that’s fine the standard storage for phones will be 1TB by then
You're wrong. You're reading stuff by one company talking about their own products, but you don't have to use their products to use Ethereum. Infura provides what's called an RPC endpoint. RPC is the way you expose a node to people who want to talk to it from a web browser etc. You can run your own node, using a normal computer, but it needs a big SSD drive (around 2TB) which costs a couple of hundred dollars. If you want to use a node hosted by somebody else, there are lots of other companies providing them. A good one is [Alchemy](https://www.alchemy.com/). You can see a long list of publicly available RPC nodes for Ethereum (and also similar lists for other chains) at https://chainlist.org/ MetaMask provides an extension to add a wallet feature to your browser so that you can interact with dapps. This was the first project to provide this feature back in the day, but it's now quite outdated; A much better alternative would be [Frame](https://frame.sh/). A wallet needs an RPC node to talk to, and a new user doesn't want to have to worry about this, so MetaMask uses Infura as their default. But you can go into settings and change it, either to your own node or to a node hosted by someone else. Most MetaMask users just leave it on the default (Infura) since it's free and it works fine. But if Infura goes down or they hear that it's serving dodgy data, then they'll look up how to change it.
If it helps… my node took 4 months to sync up. Used a 2GB raspi 4 with a 1TB HDD. Took forever, but been running well ever since. Stay strong fren. And thank you for your service 🫡
However, I hope we are all on the same page that 20 years from now, the current limits should be adjusted according to the hardware and bandwidth prices. If 1Gbps will be the norm around the world and 10TB SSDs will cost as much as 1TB costs today then maintaining a <1Mbps requirement like today would be pretty dumb.
80MB/s can write the blockchain in under 2 hours. You can RAID 5, JBOD, or ZFS a few HDDs and get that time down if you really had to. The size and price point were an example, the blockchain isn't 6TB anyways. Point being that storage costs continue to decrease and a 6TB drive for $60, once it is caught up, will have no issue keeping up with the blockchain growth rate for another \~90 years? I for one, will likely be dead before that $60 drive fills up at less than 100 MB per hour.
> You can buy 6TB disk drives for $60 i guess you meant hdd. bitcoin nodes need ssd to sync efficiently
This is true for CPU architecture, not true for storage. You can buy 6TB disk drives for $60 already and there's constantly newer storage technology coming out, for the time being at least. I think it's more relevant that the blockchain will not grow at a much faster rate so it will grow at a semi-asymptotic rate. I'm actually not sure how block sizes work anymore, if it is a weight max that isn't moving then it will truly grow asymptotically.
>But in the future (10-20-30 years), 10-100TB hard drives and other large storage solutions will become so common and cheap in our smartphones and laptops No it won't. Moore's law is dead.
Hope you have least 1TB or more on your hard drive, preferably a SSD.
Thanks a lot for the response. If I go that way, I still have to buy a 1TB SSD and once I buy that, I don't think I would have to prune. I just want to avoid that because that is not as affordable for me. That's why I am trying to see if it's possible to get away with a smaller storage. Limiting my record prevents me only from broadcasting the blockchain to the new nodes and I am fine with that for now.
Once the entire blockchain has been downloaded and validated you can prune it back to only keep the historical data you want...ie last 144 blocks would be only the last 24hrs TXs.....you could continue to prune always only maintaining the most recent days worth of TXs The real question is why? A 1TB drive is cheap and will hold the entire chain since inception why limit your record?
Recent bank issues have been due to banks with US Treasury bonds as their long term assets marking them as "hold to maturity" rather than mark to market. If a bank bought bond 912810TB4 at auction, they paid around $100 for the bond. That bond now trades for $66.12. Rather than the bank show an unrealized 34% loss, they can mark this bond as "hold to maturity" for the full $100 value. If bank depositors want their money anyway, this accounting treatment no longer works and the bank enters FDIC receivership if no one will buy it. Tether, through their attestation reports, does not do this. Their long term assets are all marked to market. Tether should be able to readily convert the cash equivalent assets they have to cash in the event of large withdrawals. They processed $13B in withdrawals from May - July 2022.
>Short answer: I don't care about all the reasons why it was scrapped. My point is simply how can you claim everything has been delivered according to the roadmap when very large parts of it have been scrapped? It was scrapped because it was never feasible. People came up with some of these ideas years ago in gest, no one had working solutions until recently. If you follow that Ethereum/history link you'll see since Rollup's started to look promising in research is when *the ETH roadmap was made*, since then ETH has been delivering. >Long answer: Nofi, but this does seriously give me IOTA vibes. Both because of the "everything was delivered", while just the scope was hugely changed, but also because of what you start with. IIRC the old ETH roadmap just hardly touched on POS, it mainly went over smart contracts. ETH delivered both of those, so a new 2.0 roadmap was made. Scaling ETH wasn't a concern or possible when the first roadmap was made, and that was *years before* sharding was even a research idea. Ethereum was in the research stage for most of its life. That research lead to several solutions, of which have been or are being developed today. You're upset because the research you heard about went nowhere, but that's how all research goes. Ethereum was originally going to change to POS in ~3 years but there was no way to without making a new network, then scale using Plasma chains (like Lightning Network), but smarter people thought of better solutions and those bad ideas were scrapped during research. People didn't know how to use ZK snarks for validation even 2 years ago, yet that is the main focus today (and are an even more useful invention than DLTs, so a new chain could probably utilize ETH's research with more focus than ETH can). >PoS was so difficult naysayers said it would never happen? I am sure they existed, but a shitton of other coins use PoS. Who seriously doubted PoS would be possible? You implement what others already did (of course with an own specific implementation, but the basic idea was well proven already). No other blockchains are pure POS. In the sense you build your own blocks, and have a stake in the system to lose. Other than that no other blockchain has merged from POW to POS, also to mention with such a large market cap/risk. The feat is it was done without 1 second of downtime and without error. The analogy used is it is like changing the engine on an airplane mid flight. The specific implementation of POS on Ethereum is what all other POS chains read over while it was in research and rushed to deploy faulty version of - ETH is where the idea of a self sufficient cryptocurrency originated, only it turned out to be harder than anyone thought it'd be *to do it right*. >Meanwhile no one has anything like 100k+ TPS (yeah Solana, but lets not get started on how they even decide what TPS is), and you claim that is orders of magnitude simpler than switching to a sybil protection the majority of crypto space already used? I have heard similar stuff at IOTA. Sharding is trivial, they can implement it trivially. They just have to become decentralized first. Everything going well according to plan (they just change the scope of their plan). The limit on a decentralized blockchain is storage space, not bandwidth. Because Ethereum is pure POS it is able to validate (encrypted/anonymous) work and then discard it - the validators output and stake now becoming the proof of transaction history. This opens a world of possibilities like danksharding or single slot finality (running a node on a mobile phone) not possible on other 'POS' networks. Without POS + other upgrades happening first if Ethereum scaled it was going to increase its validator SSD requirement by over 4-6 TB per year, by about 40% of your APR if you're solo staking ie benefitting the rich. It is not able to scale at the base layer until this bloat is taken care of, this requiring novel cryptography and time to work out the kinks. You should know this *is* past the research stage by now, the kinks are being ironed, and everything is in mid/late stages of development already. No better solutions have come up so there's no reason for this roadmap to be scrapped, considering the more difficult roadmap to merge wasn't scrapped either. The claim everything had been delivered still holds true. Core dev's rarely say anything will happen, even more rarely put a date on it. People read some research and say XYZ WILL HAPPEN EOY and the media picks it up, and here we are. Sharding was always a bad idea, no researcher liked it, *no one* knew how it'd work or wanted to deal with its technical bloat, it just took time for someone to think of something better. Right now the builders are all *building* instead of twiddling their thumbs researching, POS opened ETH up to easier upgradability, things should start to move a lot faster than before.
Current Bitcoin blockchain size is around 540 GB. Get yourself a 1TB SSD if you can. I am using a 2TB SSD as I'll keep running this node for years to come. [This](https://www.reddit.com/r/Bitcoin/comments/12ud056/a_new_full_node_is_born/) is my setup.
parts: Case: Coolermaster small form factor nr200p (pink version) CPU: 9th gen Intel i3 (cause it's cheap and has minimal power draw) Memory: DDR4 Vengeance 32gb kit (overkill for the btc node but I also run python notebooks for analysis so I need plenty memory) Motherboard: Asrock H510-ITX/ac (cheapest mini itx for factor mb I could find that has a m2 ssd slot) Storage: kinshston m2 ssd 2TB and samsung evo ssd 2tb as second drive for cloud storage PSU: be quit sfx 500watt modular power supply (could do with a lot less but I like to buy parts that can be re-used at some point) No GPU: setup was done remotely over lan so the machine doesn't need to output video Bought all the parts in a local webshop, but these can be found on amazon or any decent computer store. I'll write up a complete guide + setup when I have some time and post it n this sub soon
> Because Algorand is centralized. And the chain size is **massive** relative to other protocols. Off the cuff I think Bitcoin is just shy of 500GB chain size while Algo is pushing 2TB despite the fact Algo launched a decade later. That is a massive barrier to decentralization. People will argue a few TBs is no big deal, but when you extrapolate that velocity out over time, it makes running nodes much less cost efficient relative to other chains, at a time when decentralization might be the most important aspect of the trilemma (besides security).
The entire Bitcoin blockchain only requires about one half of a terabyte. For example, a 2 TB hard drive only costs about a hundred bucks.
get a new 2TB SSD drive to set up a full bitcoin node for my bro
4GB Pi 4 and a 1TB Toshiba hard drive
Rollups upload massive data batches onto Ethereum, and they pay for this computation plus permanent storage space. Ethereum will bloat by some 2-4+ TB per year without changes, multiplied by *every node* is a ton of bloat. In short, permanent storage space is a lot more costly to the network than computation. Blobs are a new *transaction type*. A transaction that after being validated can optionally be deleted by nodes up to their discretion. Rollups will utilize these so they only have to pay for the computation portion of the network fee going forward, reducing the cost to use a Rollup's by maybe up to 100x..
BSC 20 whitelisted validators hand picked by Binance, running enterprise level hardware 256 cores, 512GB ram, 10gbps bandwidth, 10TB gen 4 nvme SSDs) to sustain an unsustainable amount of blockchain bloat? I can literally list hundreds of blockchains that blatantly discard security and decentralization for scaling. Its not even like it's a 40-60 scenario. They completely traded off decentralization for throughput.