Topic: The fall of Bitcoin nodes. Why nobody talks about it ? - page 2. (Read 6916 times)

Written eloquently, Crypto. Thanks for bringing things back into perspective.

Well, you should consider the fact that we're here participating in a system where we run our own infrastructure, providing a payment network where nobody simply can block a payment or an account because they don't like you.

If you want to use bitcoin, you can use a light wallet, or bitcoin core, or a webwallet. The safest solution is to keep private keys in your own posession. If you chose to run the Bitcoin Core, then the initial sync might take some time. Perhaps 1 to 2 days. But I don't see how that's a big problem. You install the software, and then let i run till it has completed synching. Most people these days have solid broadband internet connections, and most harddrives are 500Gb and up. Once you have synched the blockchain, you only need to connect sporadically to keep up to date with the blocks, or just let it run on your computer..

If you're more dedicated, go for a vps or dedicated server.

People go to banks all the time and initiate the process of making a bank account. First you have to physically move in meatspace to the designated branch. Which can be stressful enough in itself. Then you have to wait in line, being exposed for all kinds of unnecessary chatter and viruses and bacteria that other humans carry around.

After you get to the counter, you have to present your ID, this is photocopied, and then you go through whatever process the bank require to open the account. Then you have to reverse the process of getting physically to the bank, and once the most preferable geolocation of your representation in meatspace is restored, your home, you have to wait for days before you finally get whatever card the bank wants to offer you.

Finally you can use your bank account.

In addition, if you do something nefarious, like trading at localbitcoins (oh gosh - you're such a criminal!), or if you just do whatever that's outside getting a paycheck from your employer and shopping at main stream shopping centers and approved online stores like amazon, you risk your entire account being discontinued.

In addition, the bank will know about every purchase you do. And the statements on your bank account will be given to the tax-authorities every year. And if you happen to have a relative outside the borders of your nation (oh my gosh - you must be a terrorist financier!) don't be surprised if the transaction is delayed for days and days until it's finally cleared, no mentioning how much stress that causes for the recipient.

So what we have here, is some of the best opportunities in human history to transact easily and quickly between free individuals on planet earth, without getting an anal examination by our overlords, and although it usually takes less time to download the blockchain than to get the payment card from your evil bank which might cause any kind of troubles on a bankers whim, people still complain..!

Synching the blockchain is really no problem, you just install the software, and then it all happens by itself, you just wait. And while you wait, you can do all kinds of interesting things, like for instance call a friend and go for a hike in the woods. Bring a tent and fishing equipment. I promise, once you get home, you're now part of the most cutting edge international financial payment system in existence!

I would say it's probably because of the size of the blockchain. New adopters won't want to invest so much time in download over 30GB as there are no incentives/benefits whatsoever to running a Bitcoin node. So that leaves the people that truly believe in Bitcoin. I used to run a node on my notebook, but not anymore, since my connection wasn't fast enough for the size of the blockchain. Now, I have a couple nodes running on VPS systems, since they're relatively cheap to run.

There's always the torrent method of getting the block chain:
https://bitcoin.org/bin/blockchain/

iam running a full node. its a nice way to support the network. i guess when the price rises again we will see more full nodes. and also we sill see some improvements with the sync of the bitcoin core client (3days to 3 hours).

25 GB is not a problem in my view.


2 Terabyte - 90 USD:
http://www.amazon.co.uk/Samsung-Station-External-Desktop-Drive/dp/B00C9TEL46/ref=sr_1_1/275-3057177-7963732?ie=UTF8&qid=1414215364&sr=8-1&keywords=2+terabyte

Yes, I agree that Bitcoin network is far from this situation. It was an argument for two nodes network.

I think the number of nodes would need to decrease substantially before this would become any kind of serious risk. When a "normal" site is DDoSed, their network infrastructure will be stressed, however when someone attempts to DDoS a decentralized network, the attacker will need to use much more resources to put a similar level of stress on the network

There is one more reason - the possibility of the DoS: the fewer full nodes you have the higher chances the network would be killed if someone attempts to DoS it.

It would actually be the "purchase VPS" scheme, not purchase VPN as a VPN is only a way to connect to the internet and is not capable of running a full node.

Your point is true, however there are a large number of both data centers and VPS providers so as long as you do not buy up a bunch of VPSs at one location from one provider this would not be that big of an issue

P2Pool should become more user friendly, once it is done, every miner should move to P2Pool, ultimate decentralization is done

anyone doing the "purchase VPN" scheme.. please realise its better to have 7000 nodes in 7000 locations rather than 20,000 in 5 VPN locations... think about it.

192.227.139.229 is at ColoCrossing https://getaddr.bitnodes.io/nodes/?q=colocrossing. 45 nodes at that DC. If they have a power outage or worse, that's 45 nodes gone. Just an example of course and who knows how accurate bitnodes is, but different geographic locations help for sure.

If you can miss 2$ a month and plan to run a node for two years, you are getting in to Raspberry Pi territory (with an external HDD), if you're internet plan allows for it. (An indication of data volume: http://192.227.139.229/vnstat/index.php?if=venet0&graph=large&style=light&page=m )

I would say Bitcoin is rotten to the core when there are only 2 honest nodes against 1 million dishonest.
Without understanding the technicals behind it many people would be scared to death.


Isn't this the same as saying: "if everybody on earth would be fair and honest we would not need jails?"

I didn't say that having only two nodes would be a good thing.  Of course it's nice to have a lot of nodes.  While the number of nodes might have reduced, it's nowhere near a level to be concerned about.

The network does not "require many functioning nodes".  It requires two.

Even with only two honest nodes, it is possible to combat double spends 100%.

The only attack vector that could be of minor concern is if one node is connected to many or only dishonest/bad nodes.  As you say though, the connections are random by default so an attacker cannot target a specific node and would have to be really lucky to effectively impact an honest node. This still would not affect the network as a whole however.

You will not stay BTC rich with only 2 nodes.

Quoted from BTCfeed:

Decentralization of the Bitcoin network mainly refers to the distribution of hashing power, not the number of nodes.  The Bitcoin network becomes no more or less secure with the increase or decrease in number of nodes.  

As long as two honest nodes exist, the network will function.  However, this would also most likely indicate that there are only two miners securing the network and that could be a concern.

Strictly spoken yes, any port open increases risks.
But if you keep your software updated the risk are minimal.
If the only port open is 8333, and it is pointed to bitcoind which is always the latest version, then the risk is close to zero.

Not paid to advertise; but, yes, inaccurate on the ssd. That's not advertised on their site. It's just 60GB Disk Space Storage.

Here's what I posted about this on September 8: https://bitcointalksearch.org/topic/news-re-19yr-full-node-we-love-servers-774791  I've not heard from anyone that this method of acquiring a $2/mo server is no longer doable.  I do know I have 60GB on my three nodes and my monthly bill is just $6.

Both of those are insufficient to run a full node. The 30GB one will be forced to shutdown in a month or two, since the current blockchain is nearly 30GB already.

Is there any security risk associated if I open Port 8333 on my firewall ?