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Additionally, what is the difference between signaling and non-signaling nodes? I read that only miners can signal and so the total tally of Bitcoin nodes is unknown. This site puts nodes over 10k: https://bitnodes.earn.com/ However I have read that there could be up to 1 million miners. How can there be so many more miners than nodes? Basically if someone qualified has the ability to give a summery of how this all works it would be highly appreciated.
Does anyone know of a website or other resource that would show a simple count of all the full nodes on the bitcoin network against which version of bitcoin they’re running? I also have the same question by the country of their IP address if that’s possible (e.g. 1000 nodes in US, 580 in UK etc)
How many bitcoin users operate a full node? What percentage? This seems like a question that could be accurately polled by a questionnaire. Once we have that number, we simply multiply that by the number of nodes in existence at any given time in order to estimate the number of users.
Is it possible to estimate the total power usage or energy consumption of all online bitcoin nodes? If so, how would you go about it? Can we estimate the number of hash attempts made for a given block over all the nodes in the network? Is there a way to tell: -How many bitcoin nodes are running? -How quickly each node is performing hashes to demonstrate proof of work?
Should bitcoin nodes adopt a PoW change before the 2x hard-fork or after? How many blocks before/after?
The miners are forcing the hands of bitcoin users. You are about to be faced with a decision of whether you permanently turn off your core reference node, or whether you adopt a Proof-of-Work (PoW) that nullifies the miner attack. So the question is whether a PoW should be adopted before the 2x fork, or after the 2x fork? The 2x fork has not adopted replay protection, so there should be no expectation that bitcoin nodes should adopt replay protection for nodes that probably aren't even used anyway. As long as bitcoin nodes protect other bitcoin nodes from replay attacks, there should be no more or less protection than the lack of protection of the 2x attack. But I would understand if others would prefer to offer this as an opt-in solution. With the adoption of an alternate PoW, the difficulty re-target will be greatly accelerated until the reset, so the chain will be longer than the 2x chain for some forseeable time. It will also greatly incentivize new miners to enter the mining pool in greater numbers until an equilibrium is found that returns to the 10 minute block propagation. This should mean that existing SPV nodes will align with the bitcoin nodes, as the SHA-256 chain will not have the opportunity to accelerate at the same rate, especially when the profitability of the chain plummets. It is now time to discuss how we transition to a new PoW. We have probably waited too long for the positive incentives to act in the best interests of miners. It's time to implement the negative incentives, so that it is clear where consensus is policed and enforced in bitcoin.
I see much love for our Fed Chairs and I must admit they do a good job. But I don't like how they make many important policy decisions behind a closed door that affect my money. With the Bitcoin node I run I have a voice on every proposal to change the Bitcoin network and its monetary policy.
I believe this is a more sustainable model going forward. Would love your opinions on my controversial title. Thanks.
How many bitcoin users operate a full node? What percentage? This seems like a question that could be accurately polled by a questionnaire. Once we have that number, we simply multiply that by the number of nodes in existence at any given time in order to estimate the number of users. /r/Bitcoin
How many transactions can the Bitcoin nodes handle at a time?
What would happen if bitcoins are accepted as payment for a very popular concert and as soon as the ticket sales open, there is the rush of hundreds of thousands of people attempting to buy tickets? The Bitcoin network is currently limited to about 4200 transactions every 10 minutes (1mb block size limit). If there is a sudden flood of hundreds of thousands of transactions, would the nodes be able to handle all these transactions (i.e. store them all in RAM and make sure that they are all eventually added to the blockchain)?
There are many 'types' of decentralization. But there is a most important type of decentralization. The one Satoshi talked about when he described Bitcoin as a decentralized monetary system. This is an Easy to Understand explanation of decentralization and how non mining nodes don't to increase it
Decentralization is one of Bitcoin's main selling points. But what does it actually mean? Skip to the end for the tl;dr What is centralization As we all know from reading everything Satoshi wrote about his design for Bitcoin from satoshi.nakamotoinstitute.org, Bitcoin was finalized and born in the wake of the 2008 financial crisis. In this event many normal people lost money while banking executives made more and more. Where does centralization come from These banks, much like the bank you probably use today, are centralized. That is, they alone control everything that happens. There is one database which has everyone's funds, if they decide you are a terrorist or something they can stop you from access your money. They can stop you from making transactions. Even if you have done nothing wrong they can stop payment on your transactions without your consent, lock you out of your funds, and monitor everything you do. What is decentralization By splitting up the 'power' that a bank has we decentralize it. There is no longer any one single entity that can control txs and funds. This way no one is 'in charge' and no one can give themselves bonuses while other people lose money. This decentralization is a founding point of Bitcoin. Where does decentralization come from Instead of one company controlling the database of funds like in the centralized model, in Bitcoin's decentralized model there are many people who can all contribute to the database and transaction processing without any one entity having full control. In Bitcoin and other POW based cryptocurrencies this decentralization is achieved by having a number of mining nodes who are not affiliated. As long as no group of miners controls more than 51% of the hashpower, bitcoin remains decentralized. So only mining nodes contribute to decentralization, then what about non-mining nodes Non-mining nodes, full nodes, relay nodes, or storage nodes are often misunderstood to be part of decentralization. This can be easily cleared up by understanding the above information and then understanding that a non-mining node has no power if the majority of hashpower were to do something they didn't like. I thought everyone was supposed to run a full node This is another common misunderstanding, in the very beginning Satoshi did intend for everyone to run a node with 4 functions. He is very clear when he explains how this is not the way for the system to function in the future. The plan of bitcoin is that everyone can make trustless peer-to-peer transactions on a decentralized system. Not that everyone would run a home server with the whole blockchain. The business and bitcoin companies that need to have personal and instant validation of their tx can run a full nodes. Random sampling is a tried and trusted method, those unable to host their own relay node would be easily able to verify their transactions with overwhelming mathematically certainty. So who wants to run a full node then Anyone who wants to can, it's like the Olympics, 'anyone can compete but few feel the need to'. There is no reason the network should be ground to a halt and made useless so people who can't afford to make a transaction would be able to run a full node on a 20 year old computer over a dial up connection. Bitcoin was meant to scale with technology, not become left behind. What are the 4 functions that all early nodes did When you read the design of Bitcoin which we all invested into, the design on which so much was built, the one at nakamotoinstitute.org, you see Satoshi mention the word 'node' many times. What we today call a full node or non-mining node usually fulfills one of those functions, that of storing the database. Finding other peers for connecting to is done by full nodes and pool operators. Sending and receiving bitcoin, aka a wallet, was also a function every node had. Finally generating coins by putting new transactions into the blockchain was the 4th thing all nodes used to do. Today these 4 actions are largely compartmentalized, as they should be in any good computer science project. This is Bitcoin, some people are unhappy with the way Bitcoin was designed, well I suppose Bitcoin is simply not for those people and they should maybe find something else to do. I hope you've all learned something today about how Bitcoin (now bitcoin cash) is decentralized, what is means, and how we got there. tl;dr Banks control all txs and accounts with one database and are centralized, Bitcoin has many miners who perform this actions to make it decentralized. Non-mining nodes don't contribute to decentralization.
How many nodes are actually needed to keep Bitcoin up and running?
1MB block proponents state that Bitcoin will become too centralized with fewer nodes running. How many nodes, exactly, do we need to keep Bitcoin decentralized, and what bad things could happen if we don't have enough nodes?
I see only 7000 or so. I assume this means only about 7000 people are running bitcoin core as a wallet and/or solely to function as a full node--as I heard described in a YouTube video recently, a "bitcoin citizen". So.. 7000 complete copies of the blockchain? 7000 copies of a $6 billion ledger? I realize that not everyone should be running a full node. Just trying to understand the bigger picture. Edit: wow title grammar fail
Nodes can take many shapes, sizes, and forms. Each one plays a different – yet vital – role in the functioning of your household. In the case of the Bitcoin blockchain, there are four main ... Bitcoin even managed to overtake Ethereum at one point earlier this year, when it had around 10,266 nodes, while Ethereum’s high point in 2019 was only at 10,078 nodes. However, according to a report published by Bitcoinist back in May of this year, Bitcoin never had ‘only’ 10,000 nodes. The number of nodes on the Bitcoin network hovers around 100,000 - which is great for decentralization - but many remain exposed to an old, epic exploit. Map shows concentration of reachable Bitcoin nodes found in countries around the world. LIVE MAP × Global nodes distribution 10995 nodes as of 1603632185. 1. n/a (2857) 2. Germany (1862) 3. United States (1798) 4. France (556) 5. Netherlands (422) 6. Singapore (307) 7. Canada (302) 8. United Kingdom (283) 9. Russian Federation (233) 10. Japan (214) 11. China (188) 12. Switzerland (139) 13 ... Many people and organizations volunteer to run full nodes using spare computing and bandwidth resources—but more volunteers are needed to allow Bitcoin to continue to grow. This document describes how you can help and what helping will cost you.
How are hashes and transactions determined to be "valid" in Bitcoin? How are nodes determined to be "honest"? How much of this process is automated? Consensus is an agreement on what "valid" is ... What is a Bitcoin Node? - Step by Step Explanation - Duration: 5:47. Blockgeeks 12,772 views. 5:47. Language: English Location: United States Restricted Mode: Off History Help About ... Before tackling the Blocksize debate, it's important to understand the false narrative surrounding nodes in the BTC fork of Bitcoin. Rick looks at - and dispels - the three most common node myths. What is a Bitcoin Full Node? Why would I want one? - Duration: 11:06. Off Chain with Jimmy Song 18,245 views. 11:06. For the Love of Physics - Walter Lewin - May 16, 2011 - Duration: 1:01:26. ... Bitcoin full nodes are computers that are running the Bitcoin software. A full node will contain a full copy of the Bitcoin blockchain. Full nodes talk to each other, verify transactions, and make ...