Thinking of downloading Bitcoin Core - page 3.

Denker

legendary

Activity: 1442

Merit: 1016

Quote from: calkob on December 07, 2015, 07:25:11 AM

Hi all i got a new pc recently and was thinking of downloading bitcoin core, whats the pro's and con's?

Bitcoin core is very good client and herefore also a very good wallet.Easy to use imo.
When you download it you will have the full blockchain on your computer.This gives you the opportunity to run a network node and support the network.This is always welcome.
But the blockchain is quite large (+30GB) and if you haven't run it a few days it will take some while to sync depending on your bandwith.

|Ocean|

full member

Activity: 126

Merit: 100

Mining Bitcoins Since 2010

One question i want to ask here , if i download bitcoin core and run it 24x7 them will i get something , say bitcoins by network to run it?

Amph

legendary

Activity: 3248

Merit: 1070

if you have a good desktop with powerful cpu and ssd, there are no con to core, it offer more security than spv client and it has everything you need minus some fuctions that you can integrate later via armory

Rude Boy

hero member

Activity: 770

Merit: 500

Quote from: calkob on December 07, 2015, 07:25:11 AM

Hi all i got a new pc recently and was thinking of downloading bitcoin core, whats the pro's and con's?

Be mind, you're going to download whole blockchain worth of 40+ GBs of data and HDD space for sync. and counting.

Vivlore

member

Activity: 96

Merit: 10

Quote from: calkob on December 07, 2015, 07:25:11 AM

Hi all i got a new pc recently and was thinking of downloading bitcoin core, whats the pro's and con's?

The pro is you keep a copy of the blockchain. You care contribute to the security of bitcoin world. The con is you have to wait for a few days/weeks to see your first fraction of bitcoin.

Jeremycoin

legendary

Activity: 1022

Merit: 1003

𝓗𝓞𝓓𝓛

Quote from: calkob on December 07, 2015, 07:25:11 AM

Hi all i got a new pc recently and was thinking of downloading bitcoin core, whats the pro's and con's?

The first thing you have to know is, the Blockchain has a very very big size and keep going up 'til now.

QQ88

member

Activity: 119

Merit: 100

I have the same thinking when I first touch Bitcoin! But after a while, I found core wallet is consuming a lot of resource and I cannot open syn the wallet 24/7! I don't like the waiting time of synchronizing when I rush to spend the Bitcoin!

ranochigo

legendary

Activity: 3038

Merit: 4418

Crypto Swap Exchange

Quote from: calkob on December 07, 2015, 07:25:11 AM

Hi all i got a new pc recently and was thinking of downloading bitcoin core, whats the pro's and con's?

Bitcoin Core helps to support the network, whether you open port 8333 or not. It still helps to enforce the network rules.

Bitcoin Core itself is a trustless client which does not trust any other person other than itself. If a miner mines an invalid block which does not follow the network rules, Bitcoin Core will reject it and SPV clients would happily accept it till a longer chain emerges. Bitcoin Core has various tools for developers, the RPC interface etc. It's great for payment system.

Bitcoin Core takes a huge amount of memory space. It keeps a copy of the entire blockchain which is more than 55GB at the moment. It is projected to grow even more if the block size increase. This also means that you need to have lots of free space for it. I don't run it since I only have a 128GB built in SSD. Bitcoin Core misses out on features such as hierarchical deterministic seeds. HD wallets have a seed which the address generates from. This only require the users to make one and only backup in their lifetime (of course you need several copies). With Bitcoin Core, you need to backup every 100 transactions or so since it pregenerates 100 address everytime and uses a change address for every transaction.

1Referee

legendary

Activity: 2170

Merit: 1427

What can be seen as a benefit for some people, is being considered not to be a benefit by other people. I personally find it a benefit that you have the entire blockchain in your pc. It allows me to run a full node to support the network. But for some people it is too time consuming as it may take 1 to 3 days to download the full blockchain. It is strongly depending on the nodes you are connected with. The wallet does start quite slow from time to time if you replace wallet files frequently.

If you don't like that, you can choose to go with a light weight wallet that doesn't need you to download the full blockchain. Electrum and Multibit are good alternatives.

calkob

hero member

Activity: 1106

Merit: 521

Hi all i got a new pc recently and was thinking of downloading bitcoin core, whats the pro's and con's?

Topic: Thinking of downloading Bitcoin Core - page 3. (Read 3540 times)