Blockchain growing exponentially? - page 2.

XBBlade

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Quote from: techstorm2 on December 03, 2013, 05:38:43 AM

Sorry for sounding dumb!, Huh

or if ive not understood this, BUT, how does your average joe with a phone and wallet handle this, does the phone wallet download the whole blockchain, all 13Gb of it?

if so this is surely unsustainable as it grows.

Huh

No it doens't

techstorm2

full member

Activity: 196

Merit: 100

Sorry for sounding dumb!, Huh

or if ive not understood this, BUT, how does your average joe with a phone and wallet handle this, does the phone wallet download the whole blockchain, all 13Gb of it?

if so this is surely unsustainable as it grows.

Huh

canada

member

Activity: 66

Merit: 10

Quote from: Elwar on December 03, 2013, 05:14:04 AM

Want to use bitcoin? OK:

Download vanitygen.exe

./vanitygen.exe 1CIMINE
output:
public key: 1CIMINE23HssO34H9FjsduFq3HapP32jLjfi3
private key 5J39H40h48hwh2H3gJ30wdfFkh23biedfhFksdhFaAb

Send Bitcoin to public key.

When you need to spend, import keys to blockchain.info and send them. Generate new keys. Send remaining BTC to new public key. Keep in cold storage. (or keep a small amount for spending at an online wallet, the rest in cold storage)

hey Elwar - I was wondering about this yesterday. Whats the probability that the vanitygen would generate an already existing address? Set up a farm to run these programs, generate addresses and check their balances?

niothor

hero member

Activity: 826

Merit: 501

in defi we trust

Quote from: btcprice on December 02, 2013, 07:57:30 PM

Quote from: beetcoin on December 02, 2013, 07:47:36 PM

damn from 4GB to 13GB in less than a year.. seems like a solution needs to be drawn up relatively soon. by this time next year, that number could easily be 30GB.

There is a solution. It's called quark coin.

Google quark coin , first result:
"At Least 54 Bitcoin Clones Have Been Created Since April"
So , what does it do , have Kermit jumping up and down and reducing the blockchain?

Elwar

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Activity: 3598

Merit: 2386

Viva Ut Vivas

Quote from: cimine on December 03, 2013, 05:00:27 AM

Quote from: solex on December 03, 2013, 12:30:24 AM

Quote from: beetcoin on December 02, 2013, 07:47:36 PM

damn from 4GB to 13GB in less than a year.. seems like a solution needs to be drawn up relatively soon. by this time next year, that number could easily be 30GB.

A modest expenditure really...
https://www.bitcoinstore.com/fantom-greendrive-2-tb-external-hard-drive-1036078.html

That's all good and well for someone operating in a business / server environment but for the average user: Hey want to use bitcoin? OK:

1.) Go buy a 2 TB hard drive

2.) Install

3.) Download bitcoin and configure it to use this secondary drive.

4.) Let it run for a month to download and process the block chain

5.) Enjoy!

It's really unrealistic.

P.S. To the guy that said it's only 11 GB... mine is over 15 GB fore my bitcoin data dir. If it's only 11 where is my extra 4 GB coming from? I don't have one billion addresses in my address book or addresses of my own. My specific user data cannot be more than a few kilobytes.

Want to use bitcoin? OK:

Download vanitygen.exe

./vanitygen.exe 1CIMINE
output:
public key: 1CIMINE23HssO34H9FjsduFq3HapP32jLjfi3
private key 5J39H40h48hwh2H3gJ30wdfFkh23biedfhFksdhFaAb

Send Bitcoin to public key.

When you need to spend, import keys to blockchain.info and send them. Generate new keys. Send remaining BTC to new public key. Keep in cold storage. (or keep a small amount for spending at an online wallet, the rest in cold storage)

cimine

newbie

Activity: 39

Merit: 0

Quote from: solex on December 03, 2013, 12:30:24 AM

Quote from: beetcoin on December 02, 2013, 07:47:36 PM

damn from 4GB to 13GB in less than a year.. seems like a solution needs to be drawn up relatively soon. by this time next year, that number could easily be 30GB.

A modest expenditure really...
https://www.bitcoinstore.com/fantom-greendrive-2-tb-external-hard-drive-1036078.html

That's all good and well for someone operating in a business / server environment but for the average user: Hey want to use bitcoin? OK:

1.) Go buy a 2 TB hard drive

2.) Install

3.) Download bitcoin and configure it to use this secondary drive.

4.) Let it run for a month to download and process the block chain

5.) Enjoy!

It's really unrealistic.

P.S. To the guy that said it's only 11 GB... mine is over 15 GB fore my bitcoin data dir. If it's only 11 where is my extra 4 GB coming from? I don't have one billion addresses in my address book or addresses of my own. My specific user data cannot be more than a few kilobytes.

bryant.coleman

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Activity: 3766

Merit: 1217

Quote from: TKeenan on December 03, 2013, 04:46:20 AM

Either way, the blockchain is still very small compared to cheap drives to store it on. Once it gets up to 2Tb - I am going to start to worry.

From the bloackchain.info chart, I assume that the size is increasing at a rate of <10 GB per year. So I don't think it'll reach the 2 TB size anytime soon.

Elwar

legendary

Activity: 3598

Merit: 2386

Viva Ut Vivas

Please read the Bitcoin white paper before acting like this has not been considered from the beginning.

TKeenan

hero member

Activity: 874

Merit: 1000

Quote from: bryant.coleman on December 03, 2013, 04:08:14 AM

Why you people are saying that the size is growing exponentially?
Looking at the chart, the line looks more linear than logarithmic.

Even if it were 'linear' - it would still be exponential. A linear line is still 'exponential' - its just that the exponent is '1'. Even a dead flat late with 'no growth' is 'exponential growth'.

'logarithmic' - that's a whole other can of worms.

Either way, the blockchain is still very small compared to cheap drives to store it on. Once it gets up to 2Tb - I am going to start to worry.

Martijnvdc

sr. member

Activity: 322

Merit: 250

Can't the blockchain be compressed?

User705

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First 100% Liquid Stablecoin Backed by Gold

Quote from: beetcoin on December 03, 2013, 12:45:01 AM

Quote from: solex on December 03, 2013, 12:30:24 AM

Quote from: beetcoin on December 02, 2013, 07:47:36 PM

damn from 4GB to 13GB in less than a year.. seems like a solution needs to be drawn up relatively soon. by this time next year, that number could easily be 30GB.

A modest expenditure really...
https://www.bitcoinstore.com/fantom-greendrive-2-tb-external-hard-drive-1036078.html

it keeps growing exponentially though. in 5 years that 2 TB hard drive might not be enough. and if you had newcomers wanting to download the blockchain? that would take... a very very long time. the cost in the electricity bill in leaving the computer on would be killer.

Perhaps a service that sells the blockchain preloaded on a drive will be a success then.

bryant.coleman

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Activity: 3766

Merit: 1217

Why you people are saying that the size is growing exponentially?

Looking at the chart, the line looks more linear than logarithmic.

https://blockchain.info/charts/blocks-size?timespan=1year&showDataPoints=false&daysAverageString=1&show_header=true&scale=0&address=

In Dec 2012, the size was around 3.5 GB, which has increased to 8 GB in July 2013 (5.5GB or 130%).

The current size is 11.8 GB, which represents an increase of 3.8 GB or just 48%.

If the increase was exponential, then the increase could have been like this:

3.5 GB ==> 8 GB ==> 18.3 GB

(I am just a noob, so pardon me if there is anything silly in what I said).

beetcoin

sr. member

Activity: 434

Merit: 250

Quote from: solex on December 03, 2013, 12:30:24 AM

Quote from: beetcoin on December 02, 2013, 07:47:36 PM

damn from 4GB to 13GB in less than a year.. seems like a solution needs to be drawn up relatively soon. by this time next year, that number could easily be 30GB.

A modest expenditure really...
https://www.bitcoinstore.com/fantom-greendrive-2-tb-external-hard-drive-1036078.html

it keeps growing exponentially though. in 5 years that 2 TB hard drive might not be enough. and if you had newcomers wanting to download the blockchain? that would take... a very very long time. the cost in the electricity bill in leaving the computer on would be killer.

solex

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100 satoshis -> ISO code

Quote from: beetcoin on December 02, 2013, 07:47:36 PM

damn from 4GB to 13GB in less than a year.. seems like a solution needs to be drawn up relatively soon. by this time next year, that number could easily be 30GB.

A modest expenditure really...
https://www.bitcoinstore.com/fantom-greendrive-2-tb-external-hard-drive-1036078.html

btcprice

sr. member

Activity: 434

Merit: 250

Quote from: beetcoin on December 02, 2013, 07:47:36 PM

damn from 4GB to 13GB in less than a year.. seems like a solution needs to be drawn up relatively soon. by this time next year, that number could easily be 30GB.

There is a solution. It's called quark coin.

beetcoin

sr. member

Activity: 434

Merit: 250

damn from 4GB to 13GB in less than a year.. seems like a solution needs to be drawn up relatively soon. by this time next year, that number could easily be 30GB.

jellies

newbie

Activity: 33

Merit: 0

You don't have to speculate.

All time:

https://blockchain.info/charts/blocks-size?timespan=all&showDataPoints=false&daysAverageString=1&show_header=true&scale=0&address=

one year:

https://blockchain.info/charts/blocks-size?timespan=1year&showDataPoints=false&daysAverageString=1&show_header=true&scale=0&address=

On a one year basis looks fairly linear.
On an all time basis you can see some exponential growth.

It is almost entirely driven by this graph:

https://blockchain.info/charts/avg-block-size?timespan=all&showDataPoints=false&daysAverageString=1&show_header=true&scale=0&address=

which is the average block size. More transactions per minute, larger average block size.

cimine

newbie

Activity: 39

Merit: 0

Is it me or is the block chain growing exponentially? It seems like in the last month to six weeks it has gone from ~13 GB to over 15 GB. 13% growth for 3 or 4% of its life? How long before it's 100 GB? a year?

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