5 Chinese mining pools propose 8MB block size - page 5.

LiteCoinGuy

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Quote from: 98problems on June 16, 2015, 05:52:53 AM

Quote from: TKeenan on June 16, 2015, 05:18:54 AM

Quote from: el kaka22 on June 16, 2015, 04:42:15 AM

Increasing the block size is good for increasing the volume of bitcoin, however everyone's bitcoin program may grow by more than 1GB per day (8MB*144 blocks/day=1152MB/day) because of this, which is a waste of storage (and that's why I don't install the bitcoin core on my computer).

Dude - you can buy a 2TB drive for almost nothing. By the time the blockchain gets to 2TB - you'll be able to buy a 200TB for next to nothing. Drive space isn't the problem.

i really doubt that, i mean the storage space will not grow so fast every time and it might be a problem in future, of course now 2 tb is not too much, but after a few years the situation might be the same

if we would switch to 20 MB blocks, there wouldnt be 20 blocks immediately. 20blocks would appear after years.

and storage space is already cheap today.

@Oscilson

even if a miner would do that and would harm his own business: no problem, storage space is cheap.

Oscilson

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Quote from: NorrisK on June 16, 2015, 09:01:54 AM

The fact that maximum size is bigger doesn't mean that every block will hit this maximum... Increasing max also magically increases block size proportionally? Think again.

Some people might abuse the system and fill the block up to the limit. I think 8 MB is better than 20 MB for the time being.

NorrisK

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The fact that maximum size is bigger doesn't mean that every block will hit this maximum... Increasing max also magically increases block size proportionally? Think again.

spazzdla

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Quote from: TKeenan on June 16, 2015, 08:45:04 AM

Quote from: spazzdla on June 16, 2015, 08:30:40 AM

I will follow Bitmain. Bitmain you have my support.

Yes. This is correct. I love BitMain. The only mining company that didn't screw me. BitMain is honest and they do what they say they are going to do. I am sure they are right. BitMain rules.

Same feeling, them and Rockminer. Rockminer has always given me exactly what they stated. Alas they are much smaller.

TKeenan

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Quote from: spazzdla on June 16, 2015, 08:30:40 AM

I will follow Bitmain. Bitmain you have my support.

Yes. This is correct. I love BitMain. The only mining company that didn't screw me. BitMain is honest and they do what they say they are going to do. I am sure they are right. BitMain rules.

spazzdla

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I will follow Bitmain. Bitmain you have my support.

Digit-0

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in the end, you only find the beginning

Quote from: LiteCoinGuy on June 16, 2015, 03:46:31 AM

8MB and then an automatic increase over time would be the best solution.

agree with that, also is always good that big pools agree with the 8mb block size too.

Quote from: Agestorzrxx on June 16, 2015, 05:12:30 AM

Why is 8M rather than other size?
We still don't know how big size of the block. The most important thing is we should solve this problem forever. We can't do it again after several years later for the same reason.

well not a bad idea, thats why the automatic increase over time will be a pretty good solution i think.

Alley

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Blocks won't instantly be 8mb large. Just like blocks now arnt 1mb large. That's just the limit.

ebliever

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Keep in mind a max block size increase does not mean all blocks will be maximum size. Very few (if any) will, especially in the short term. So the 1 GB/day growth calculation is not reality.

Eventually, even with growing HD storage space, I expect that major cryptos are going to have to adopt some form of sidechain technology. That should open up all the transaction storage space we need.

iram66680

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Quote from: Amph on June 16, 2015, 06:55:04 AM

Quote from: 98problems on June 16, 2015, 05:52:53 AM

Quote from: TKeenan on June 16, 2015, 05:18:54 AM

Quote from: el kaka22 on June 16, 2015, 04:42:15 AM

Increasing the block size is good for increasing the volume of bitcoin, however everyone's bitcoin program may grow by more than 1GB per day (8MB*144 blocks/day=1152MB/day) because of this, which is a waste of storage (and that's why I don't install the bitcoin core on my computer).

Dude - you can buy a 2TB drive for almost nothing. By the time the blockchain gets to 2TB - you'll be able to buy a 200TB for next to nothing. Drive space isn't the problem.

i really doubt that, i mean the storage space will not grow so fast every time and it might be a problem in future, of course now 2 tb is not too much, but after a few years the situation might be the same

well you're not aware of moore law then, why the performances should remain the same in the upcoming years, there is no reason, they will double, continuosly

we are already in the time where you can afford a cheap ssd with 512, not even mechanical

A 512GB SSD can potentially cost up to $200. There's no doubt that there aren't people who buy SSD specially for the hosting of node. Bandwidth is still a problematic issue for most people who want to host a node. Only when the cap in many countries gets increased to 1-3TB a month, then it would be much more reasonable.

gentlemand

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Welt Am Draht

Quote from: 98problems on June 16, 2015, 05:52:53 AM

i really doubt that, i mean the storage space will not grow so fast every time and it might be a problem in future, of course now 2 tb is not too much, but after a few years the situation might be the same

It's not storage that's the problem, it's bandwidth. You can always plug in more storage and it will always be cheap enough. Increasing bandwidth is out of the average person's hands and probably always will be. Around here you might get your local hardware updated every couple of decades.

ranochigo

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Quote from: Oscilson on June 16, 2015, 07:06:43 AM

Quote from: TKeenan on June 16, 2015, 05:18:54 AM

Quote from: el kaka22 on June 16, 2015, 04:42:15 AM

Increasing the block size is good for increasing the volume of bitcoin, however everyone's bitcoin program may grow by more than 1GB per day (8MB*144 blocks/day=1152MB/day) because of this, which is a waste of storage (and that's why I don't install the bitcoin core on my computer).

Dude - you can buy a 2TB drive for almost nothing. By the time the blockchain gets to 2TB - you'll be able to buy a 200TB for next to nothing. Drive space isn't the problem.

You have to store the data in a ordinary hard disk, not SSD.

I see no difference in storing in a SSD or hard disk. They pretty much do the same function and speed isn't too much of a issue for nodes. A decent hard disk would do. In my country, a 2 TB one would cost $100USD. It should be cheaper at other countries. Blockchain pruning is in the works now so it can potentially solve some problems too. For now, most people don't really use Bitcoin Core due to their ISP limitations, a SPV node can do the job just fine for an average joe.

Oscilson

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Quote from: TKeenan on June 16, 2015, 05:18:54 AM

Quote from: el kaka22 on June 16, 2015, 04:42:15 AM

Increasing the block size is good for increasing the volume of bitcoin, however everyone's bitcoin program may grow by more than 1GB per day (8MB*144 blocks/day=1152MB/day) because of this, which is a waste of storage (and that's why I don't install the bitcoin core on my computer).

Dude - you can buy a 2TB drive for almost nothing. By the time the blockchain gets to 2TB - you'll be able to buy a 200TB for next to nothing. Drive space isn't the problem.

You have to store the data in a ordinary hard disk, not SSD.

Amph

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Quote from: 98problems on June 16, 2015, 05:52:53 AM

Quote from: TKeenan on June 16, 2015, 05:18:54 AM

Quote from: el kaka22 on June 16, 2015, 04:42:15 AM

Increasing the block size is good for increasing the volume of bitcoin, however everyone's bitcoin program may grow by more than 1GB per day (8MB*144 blocks/day=1152MB/day) because of this, which is a waste of storage (and that's why I don't install the bitcoin core on my computer).

Dude - you can buy a 2TB drive for almost nothing. By the time the blockchain gets to 2TB - you'll be able to buy a 200TB for next to nothing. Drive space isn't the problem.

i really doubt that, i mean the storage space will not grow so fast every time and it might be a problem in future, of course now 2 tb is not too much, but after a few years the situation might be the same

well you're not aware of moore law then, why the performances should remain the same in the upcoming years, there is no reason, they will double, continuosly

we are already in the time where you can afford a cheap ssd with 512, not even mechanical

98problems

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Quote from: TKeenan on June 16, 2015, 05:18:54 AM

Quote from: el kaka22 on June 16, 2015, 04:42:15 AM

Increasing the block size is good for increasing the volume of bitcoin, however everyone's bitcoin program may grow by more than 1GB per day (8MB*144 blocks/day=1152MB/day) because of this, which is a waste of storage (and that's why I don't install the bitcoin core on my computer).

Dude - you can buy a 2TB drive for almost nothing. By the time the blockchain gets to 2TB - you'll be able to buy a 200TB for next to nothing. Drive space isn't the problem.

i really doubt that, i mean the storage space will not grow so fast every time and it might be a problem in future, of course now 2 tb is not too much, but after a few years the situation might be the same

TKeenan

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Quote from: el kaka22 on June 16, 2015, 04:42:15 AM

Increasing the block size is good for increasing the volume of bitcoin, however everyone's bitcoin program may grow by more than 1GB per day (8MB*144 blocks/day=1152MB/day) because of this, which is a waste of storage (and that's why I don't install the bitcoin core on my computer).

Dude - you can buy a 2TB drive for almost nothing. By the time the blockchain gets to 2TB - you'll be able to buy a 200TB for next to nothing. Drive space isn't the problem.

Agestorzrxx

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Why is 8M rather than other size?
We still don't know how big size of the block. The most important thing is we should solve this problem forever. We can't do it again after several years later for the same reason.

YoonYeonghwa

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Quote from: el kaka22 on June 16, 2015, 04:42:15 AM

Increasing the block size is good for increasing the volume of bitcoin, however everyone's bitcoin program may grow by more than 1GB per day (8MB*144 blocks/day=1152MB/day) because of this, which is a waste of storage (and that's why I don't install the bitcoin core on my computer).

It will be terrible for runing bitcoin XT! No matter how large of our hard drive, we will run out of our free space soon! This will become the top issues after implementing 8M blocksize.

el kaka22

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www.Crypto.Games: Multiple coins, multiple games

Increasing the block size is good for increasing the volume of bitcoin, however everyone's bitcoin program may grow by more than 1GB per day (8MB*144 blocks/day=1152MB/day) because of this, which is a waste of storage (and that's why I don't install the bitcoin core on my computer).

innocent93

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At least this stops that silly 20mb idea.

Topic: 5 Chinese mining pools propose 8MB block size - page 5. (Read 5465 times)