Original Question: “Why isn't the size of the blockchain a serious problem for Bitcoin ?”The size of the blockchain is indeed a serious problem, but in relative terms as the cost for providing an immutable digital entity it is quite justified.I can wholeheartedly sympathize with your predicament with the blockchain size being too large to incorporate a node on your machine and as do many other people.I have noticed a lot of people switching from a completely hosted node to using just the light resources without actually hosting the whole node since the setup was consuming overall on both the hardware end and on the expertise aspect of it.There might arise a situation where the Bitcoin ledger is so humongous that people need to host data centers to actually host these transactions, but it would still require consensus similar to how hyperledger makes use of multiple servers to reach consensus beforehand.Hyperledger makes use of consensus reached by multiple servers to attain this sense of immutability, however for bitcoin, I haven’t come across any plans as to how they intend to regulate Bitcoin from reaching a state where it would still be secure and easier to maintain.Ethereum on the other hand lets you mine without requiring much computational capabilities and they do have plans of switching from proof of work to proof of stake which would certainly ease things out a little bit more for the average miner.There does however happen to exist a Bitcoin Improvement Proposal system where people can vote to bring about improvement within the Bitcoin ecosystem.I trust we would come across a way to manage our mining resources and prevent it from turning into an oligarchy or a monopoly as long as our average miners refuse to quit mining since a node has the ability to vote only if it has all the previous transactions to be recognized as a valid block.We have the power to bring about a change together as long as we continue mining as the saying goes, united we stand, divided we fall.21: Earn Money by Answering Messages & Completing Tasks is currently doing a wonderful job by empowering more and more people to set up their nodes.References:Blockchain Sizebitcoin/bipshttps://en.bitcoin.it/wiki/Bitco...I do hope this was helpful.I write on behalf of BOScoin on Bitcoin, Blockchain and Ethereum.Learn more about BOScoin here - BOScoinSign up for BOScoin updates here - Get BOScoin UpdatesThat book was released in December ’14.

The blockchain was 16 GB in March ‘14.Today it is a hair below 120 GB.Since Jan 2013 the Blockchain’s size increase has been exponential.It doubles in size every year, approximately, as you can see in the link below.So if that pace is sustained it will grow to 1.5 - 1.6 TB in Jan 2021, 3 - 3.2 TB in Jan ‘22, 6 - 6.5 TB in Jan ’23, etc etcThese numbers are insane, so you clearly have a point.Bitcoin already faces issues such as the 51% attack problem, the increasing centralization of mining, the diminishing returns of miners due to the halvings of Bitcoins every 4 years and the increasing difficulty due to the ever increasing required hashrates to solve the algorithm.bitcoin ticker for websiteCentralization of blockchain storage would only add to those woes.If Bitcoin keeps being a thing for the next couple of decades, and if the blockchain keeps increasing faster than the densities of HDDs and SSDs, then in 2031 it will have grown to 1.6- 1.7 PB (petabyte).bitcoin video tamil

And from there… the sky is the limit.Now, to that increase in storage we should add a power consumption that would probably rival what the United States “burns” in a year (today anyway).The math simply do not add up : In the mid century the blockchain will grow to zettabytes (billions of petabytes, or millions of exabytes) and the Bitcoin network will consume a few times the current global power production.How about alternative cryptocurrencies?A few days ago that I checked Bytecoin, which was released in 2014, its blockchain was 40+ GB, and Monero, one of Bytecoin’s forks, was in the ~20 GB range.wo bitcoins sicher kaufenBoth are based on Cryptonote, and are considered much more private and secure.Blockchain Sizelitecoin wikiEvil ISPs could disrupt Bitcoin's blockchain Boffins say BGP is a threat to the crypto-currency Attacks on Bitcoin just keep coming: ETH Zurich boffins have worked with Aviv Zohar of The Hebrew University in Israel to show off how to attack the crypto-currency via the Internet's routing infrastructure.bitcoin mining difficulty 2017

That's problematic for Bitcoin's developers, because they don't control the attack vector, the venerable Border Gateway Protocol (BGP) that defines how packets are routed around the Internet.BGP's problems are well-known: conceived in a simpler era, it's designed to trust the information it receives.If a careless or malicious admin in a carrier or ISP network sends incorrect BGP route information to the Internet, they can black-hole significant chunks of 'net traffic.is bitcoin income taxableIn this paper at arXiv, explained at this ETH Website, Zohar and his collaborators from ETH, Maria Apostolaki and Laurent Vanbever, show off two ways BGP can attack Bitcoin: a partition attack, and a delay attack.litecoin chart calculatorThe upside of both of these attacks is that they need an insider, because they happen at the ISP level.buy litecoin with visa card

They are, however, serious attacks.In the partition attack, if an ISP is the only route between significant chunks of the Bitcoin network, a blackhole would stop the two sides communicating with each other.Since the two “islands” will keep going – processing transactions, and mining new Bitcoin.When the “evil ISP” connects the islands together again, they have no option but to discard mined Bitcoins, transactions, and mining revenue.The delay attack is nastier, in a way, because unlike the partitioning attack, the researchers say it's undetectable.bitcoin escrow websiteHere's how it works: Step 0: Nodes A and B advertise the same block to the victim, node C. Step 1: Node C requests the block via a GETDATA from node A.bitcoin wikipedia bahasa indonesiaThe attacker changes the content of the GETDATA such that it triggers the delivery of an older block from node A. Step 2: The older block is delivered.bitcoin angela merkel

Step 3: Shortly before 20 minutes after the original block request made by node C, the attacker triggers its delivery by modifying another GETDATA message originated by C. Step 4: The block is delivered just before the 20 minutes timeout.The victim does not disconnect from node A.The delay attack impacts merchants by making them susceptible to double-spending attacks; miners waste their processing power; and ordinary nodes can't propagate the latest version of the blockchain.pawncoin bitcoinHow did we get to this point?sebuh bitcoinPart of the problem is that Bitcoin's nodes have tended to gather together at relatively few ISPs: thirteen in all host about 30 percent of the whole Bitcoin network; and 60 percent of Bitcoin traffic is visible to just three ISPs.litecoin usd price chart