wot if blockchain got to 100 terabit wot then

Hfleer

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Quote from: Monetizer on March 12, 2015, 01:24:24 AM

I believe a lot of the size is required for the security of the bitcoin network... I think that because this is needed we will find a way to work around the fact of size, maybe we will all use a wallet that doesnt require a blockchain download like electrum?

Not all can use a light wallet, because if noone uses full chain bitcoin can't work. So miners, wallet providers, service providers will always need full nodes. But that can be outsourced and sold via a company in the future.

Monetizer

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I believe a lot of the size is required for the security of the bitcoin network... I think that because this is needed we will find a way to work around the fact of size, maybe we will all use a wallet that doesnt require a blockchain download like electrum?

Kprawn

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Well.... Storage media are getting cheaper and bigger every year... I saw a 5TB HDD with external housing for $250 this weekend at a store.

The technology will also improve over time, and bigger drives will become the norm. When I started in computers.... we used no harddrives.... everything was run in RAM. {We used huge magnetic tapes to transfer information in chunks into RAM memory} My first computer {if you can call it that} was a ZX Spectrum 48k .... We used audio tape deck players to play analog sound, which was converted to digital and then stored in RAM. {48k... not even 1 MB}

My first personal computer had a 10MB harddrive {In those times, it was HUGE] So the technology keeps up with the need and demand. Grin

{Now some jpeg or pdf files are bigger than that}

Meuh6879

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1To per year to record an open worldwide network more valuable than the actual fiat system ?
it's cheap !

Hfleer

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Quote from: maku on March 11, 2015, 07:13:51 PM

Quote from: bitcoinbot on March 11, 2015, 03:59:10 PM

Can I just clarify for those reading this and thinking that to use Bitcoin they need to download bitcoin core and wait for hours to download the whole blockchain. This isn't the case at all.
If you want to get started using bitcoin download a light wallet like multibit and leave downloading the blockchain to the miners.

Also, if you are already using core but you don't like it or it's taking up too much space or it's too slow or it's downloading transactions everytime you load it up. It's easy to move your coins to a light wallet and you can just delete the blockchain and uninstall core.

I would like to to that as I downloaded Core just because it was top listet walled when I started to use bitcoin in the past. I did not know difference between wallets back then. I thought that they all need to download whole blockchain to be fully operative. And now I want to ask: it is possible to keep my addresses from Bitcoin Core and export them to different wallet?

Yes you can dump your private keys directly. Or you can import the wallet.dat in pretty much all light and online wallets.
Electrum, multibit and blockchain.info allows it for example.

maku

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Quote from: bitcoinbot on March 11, 2015, 03:59:10 PM

Can I just clarify for those reading this and thinking that to use Bitcoin they need to download bitcoin core and wait for hours to download the whole blockchain. This isn't the case at all.
If you want to get started using bitcoin download a light wallet like multibit and leave downloading the blockchain to the miners.

Also, if you are already using core but you don't like it or it's taking up too much space or it's too slow or it's downloading transactions everytime you load it up. It's easy to move your coins to a light wallet and you can just delete the blockchain and uninstall core.

I would like to to that as I downloaded Core just because it was top listet walled when I started to use bitcoin in the past. I did not know difference between wallets back then. I thought that they all need to download whole blockchain to be fully operative. And now I want to ask: it is possible to keep my addresses from Bitcoin Core and export them to different wallet?

notbatman

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10nm process that's wot.

Hfleer

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Quote from: bitcoinbot on March 11, 2015, 03:59:10 PM

Can I just clarify for those reading this and thinking that to use Bitcoin they need to download bitcoin core and wait for hours to download the whole blockchain. This isn't the case at all.
If you want to get started using bitcoin download a light wallet like multibit and leave downloading the blockchain to the miners.

Also, if you are already using core but you don't like it or it's taking up too much space or it's too slow or it's downloading transactions everytime you load it up. It's easy to move your coins to a light wallet and you can just delete the blockchain and uninstall core.

One of the problems is that the "landing page " of bitcoin: "Bitcoin.org" is still listing Bitcoin Core as the first option.

R2D221

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Quote from: randy8777 on March 11, 2015, 02:01:40 PM

if every block reaches 20mb cap. running a node at home will become quite hard.

Running a full node at home is hard already. You need to leave a server on 24/7, which increases energy expenses, and some ISPs block ports needed for Bitcoin to work correctly.

bitcoinbot

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Can I just clarify for those reading this and thinking that to use Bitcoin they need to download bitcoin core and wait for hours to download the whole blockchain. This isn't the case at all.
If you want to get started using bitcoin download a light wallet like multibit and leave downloading the blockchain to the miners.

Also, if you are already using core but you don't like it or it's taking up too much space or it's too slow or it's downloading transactions everytime you load it up. It's easy to move your coins to a light wallet and you can just delete the blockchain and uninstall core.

dothebeats

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Cashback 15%

Quote from: muddyheights2 on March 11, 2015, 12:36:34 PM

how will it be possible with a permanent record and with more adoption its going to be huge how will wallets be used then how would u host it wot if it gets to 1 yotabit

You wot m8?

If we manage to see the size of the block chain ledger to 1 terrabyte, the standard storage of a pc would somewhere around 50-100 tb (guesstimate).

Knecke

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When that happens, i will buy you a 100TB storage Cool

Hfleer

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Quote from: Omikifuse on March 11, 2015, 02:16:04 PM

Quote from: Amph on March 11, 2015, 12:59:44 PM

by the time something like that happen, our storage will be much larger, 100 tera would be the standard

just buy a bigger storage, no need to worry about this

this might happens if the user base grows near 100M people.

I can see it happening before 100 tera storages become standard, and considering that most people take a while to upgrade their computer

Do you really think that the "most people" run full nodes?

Omikifuse

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Quote from: Amph on March 11, 2015, 12:59:44 PM

by the time something like that happen, our storage will be much larger, 100 tera would be the standard

just buy a bigger storage, no need to worry about this

this might happens if the user base grows near 100M people.

I can see it happening before 100 tera storages become standard, and considering that most people take a while to upgrade their computer

cafucafucafu

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I wouldn't answer this person because they wrote 'wot'.

Hfleer

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Quote from: randy8777 on March 11, 2015, 02:01:40 PM

Quote from: Hfleer on March 11, 2015, 01:47:59 PM

Quote from: R2D221 on March 11, 2015, 01:31:00 PM

People using “wot” make me automatically assume they are being sarcastic.

Amazing. I automatically assume they are retarded/dumb.

@topic: Moores law. Even if everyblock is full of transactions.

@1 MB --> 52 GB per year
@20 MB --> 1040 GB per year

So such storage is possible today and will forever be possible.

if global adoption happens to come within a few years you would need to reserve at least 1tb of space every year for the blockchain alone. if every block reaches 20mb cap. running a node at home will become quite hard.

But that is basically the thing. A normal user shouldn't need to run the full blockchain.

Also if blocksize really explodes to 40 times the size today, then the price will probably increase a few times too, thus increasing the incentive for the community to run more nodes.

randy8777

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Quote from: Hfleer on March 11, 2015, 01:47:59 PM

Quote from: R2D221 on March 11, 2015, 01:31:00 PM

People using “wot” make me automatically assume they are being sarcastic.

Amazing. I automatically assume they are retarded/dumb.

@topic: Moores law. Even if everyblock is full of transactions.

@1 MB --> 52 GB per year
@20 MB --> 1040 GB per year

So such storage is possible today and will forever be possible.

if global adoption happens to come within a few years you would need to reserve at least 1tb of space every year for the blockchain alone. if every block reaches 20mb cap. running a node at home will become quite hard.

Hfleer

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Quote from: R2D221 on March 11, 2015, 01:31:00 PM

People using “wot” make me automatically assume they are being sarcastic.

Amazing. I automatically assume they are retarded/dumb.

@topic: Moores law. Even if everyblock is full of transactions.

@1 MB --> 52 GB per year
@20 MB --> 1040 GB per year

So such storage is possible today and will forever be possible.

jbrnt

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Storage has never been and will never be a problem. The hardest part about downloading the blockchain is bandwidth and time. When the blockchain gets larger, less user would want to download a complete copy and use a light wallet instead. The number of bitcoin nodes could fall to a dangerous level.

thejaytiesto

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Quote from: muddyheights2 on March 11, 2015, 12:36:34 PM

how will it be possible with a permanent record and with more adoption its going to be huge how will wallets be used then how would u host it wot if it gets to 1 yotabit

In the future space storage will never be a problem. Space storage gets better and cheaper yearly, it will never catch up to be a problem.

Topic: wot if blockchain got to 100 terabit wot then (Read 1696 times)