Topic: Armory, Bitcoin Core take a long long time to install: 48 hours + (BTC = null;) - page 2. (Read 7958 times)

Just stating the obvious concerning the installation of Armory and  Bitcoin Core. On a Windows 8 PC, i5 quadcore, 32bit OS with 4 GB RAM, a fairly new HD (that is thrashing so bad now I cannot even use spell-check on this message, so I'll use simple words), and a 1.5 MBps DSL Modem, it's going on 48 hours and it's on step #3 of 4, "Building Databases", the other steps being downloading the blockchain, synchronizing with network, and the final step being scan transaction history.  I estimate another 12+ hours to go.

I do code on occasion, I once even built a internet relay chat.  I figured that the peer-to-peer aspect of Bitcoin Core/ Armory was the hardest part of Bitcoin (the mining algorithm, once you figure it out, is trivial by comparison).  So I figured that the value add of Bitcoin programmers was the peer-to-peer network feature, which is I think true.  But this is also the weakest link at present, due to the huge blockchain I think (if you are a Bitcoin developer you know even more than me).  After the user is wowed by the pretty front end (I like the Marijuana crypto-coin logo myself), the ugly reality for the retail consumer is that the back end, where the work is done, is broken unless you go to a light weight client for your wallet.  And if you do that, you lose control.  Why not just use PayPal if that's the route Bitcoin developers want users to go?  Mastercard, Visa, Paypal will process a small transaction 'for free', and the vendor worries about it, not unlike the Bitcoin transaction fee.

In short, even though I'm a noob Bitcoin believer, I see clearly that the Bitcoin model is broken.  The regulators once again are behind the curve here:  contrary to their belief, Bitcoin is not a threat to traditional banking, rather, it's on its last legs, as presently configured.

TonyT