Thursday, 11 October 2018

1TB WD Blue hard drive costs $43.94 on Amazon can store 19 years of full 1MB blocks. Today!

This hard drive can store 19 years of full blocks of 1MB Blocks (6 blocks/hr * 24 hrs * 365 = ~52.5GB of full blocks at 1MB block size).

10MB full blocks - 525GB = 19 years of full blocks for $300 on this 10TB hard drive.

Honestly that seems cheaper than running another layer (L2) on top of 1MB blocks. Anyway it's only the lead computer in a mining pool who has to store the full blockchain anyways. So we could be doing let's say 2,000 txs/block*6*24=288k txs a day. Or 2,8million tx a day with 10MB full blocks. 28m tx a day with 100MB full blocks, and 280mtx/day 1GB full blocks, 2.8bntx/day with 10GB full blocks would only make 52TB a year of block size addition to fit conceivably a large portion of the world's transactions.

I think the only constraint here is how long can Moore's law lasts/ or how long our expectation of continued innovation can continue. To which I really don't know, but hopefully am optimistic for it.

I don't like sidechains/ drivechains as you are giving permission to open an account to e.g. Blockstream or whoever it is. If you want to get more transaction capacity just fork Bitcoin BCH and increase the block size; then you can trade BCH1 for BCH2 with super low fees, and miners will mine the different networks. You don't need all these drivechains/sidechains stuff. Basically someone can invent time-hash-locked atomic swaps and we don't Layer 2 or Layer 3 whatever. As layer abstraction reduces the freshness of money, if all coins could be traded with each other at Layer 1 with large blocks on different hashes that would be optimal. You could obfuscate the names of each coin, and as long as they're somewhat similar you can make a trade at the moment for whatever you're buying/selling without the need for governments and permissioned systems.

submitted by /u/arldyalrdy
[link] [comments]

source https://www.reddit.com/r/btc/comments/9n7mg3/1tb_wd_blue_hard_drive_costs_4394_on_amazon_can/

No comments:

Post a Comment