Transactions rarely cost more than a few dollars. We need better ways to trustlessly share UTXOs so that they can cost $1000+ because they probably will at some point.
The ~4mb limit has nothing to do with the cost of a harddrive.
It already costs a couple hundred dollars to buy the hardware needed to run a node. Storage & computational demands have grown & will continue to do so.
Lopp has written about past efforts to sync an ETH node from zero, which took weeks when everything went right & it repeatedly failed. Do you understand how fragile the network becomes if downloading & verifying everything takes that long & any significant number of nodes gets wiped out?
If only Google & Visa can run nodes then we have just recreated the Fed banks. They can change the rules & the supply however they see fit.
The cost of running a node gets exponentially larger as the number of nodes shrinks. Everyone who uses bitcoin has to connect to a node, what happens when the number of leechers massively outweighs the number of seeders? What does that do to the cost of seeding info?
Jeff Swann
npub1ajv…tppj
2024-06-23 13:21:34
in reply to nevent1q…5dft
Author Public Key
npub1ajv7m32k0cpgzha32qszsh304qusjvwwmavus0ttktzldms4xzusuftppjPublished at
2024-06-23 13:21:34Event JSON
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"content": "Transactions rarely cost more than a few dollars. We need better ways to trustlessly share UTXOs so that they can cost $1000+ because they probably will at some point.\n\nThe ~4mb limit has nothing to do with the cost of a harddrive.\n\nIt already costs a couple hundred dollars to buy the hardware needed to run a node. Storage \u0026 computational demands have grown \u0026 will continue to do so.\n\nLopp has written about past efforts to sync an ETH node from zero, which took weeks when everything went right \u0026 it repeatedly failed. Do you understand how fragile the network becomes if downloading \u0026 verifying everything takes that long \u0026 any significant number of nodes gets wiped out?\n\nIf only Google \u0026 Visa can run nodes then we have just recreated the Fed banks. They can change the rules \u0026 the supply however they see fit.\n\nThe cost of running a node gets exponentially larger as the number of nodes shrinks. Everyone who uses bitcoin has to connect to a node, what happens when the number of leechers massively outweighs the number of seeders? What does that do to the cost of seeding info?",
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