A full node must download every transaction that has ever taken place, all new transactions, and all block headers. This gets expensive very quickly.“If you make syncing with the current state of the ledger too expensive, only a privileged few can stay up to date.Industrial servers pay about $0.025 per gigabyte of storage. Using crude calculations, if every Bitcoin block used the full 2MB (30-day average is actually 860 KB), then the annual cost increase for storage for each node:$0.025 per GB * 2/1024 GB * 144 blocks per day * 365 days per year = $2.57 The Bitcoin blockchain is already 226GB, which means the total annual cost of storage to every node operator is $5.65 growing at a maximum rate of $2.57 per year.Now, those same numbers for Bitcoin SV with 2GB blocks.$0.025 per GB * 2 GB * 144 blocks per day * 365 days per year = $2,628Something to keep in mind is that full nodes are not compensated like miners. Instead, running a full node allows an entity to make transactions more securely and trustless because they do not need to depend on a third party. It also provides access to higher quality raw data about the network. Different exchanges and service providers, as well as those merely looking to support the network, tend to run full nodes.At the moment, there are over 71,000 Bitcoin full nodes distributed throughout the globe.In contrast, Bitcoin SV has 460 full nodes, many of which are bankrolled by Craig Wright and his cronies.As the calculations above demonstrate, larger blocks make full nodes prohibitively expensive to operate. Consequently, larger locks mean fewer nodes, more centralization, and a cryptocurrency that relies on more trust. And, design and upgrade decisions around Bitcoin are made to minimize trust.TL:DRIt will collectively cost conservatively $1,208,880 per year to all the BSV nodes and ~$2,628 to keep each node running if people spam the BSV blockchain to its 2gb limits. More when you count bandwidth costs.This will kill off most peoples personal nodes(if any even exist) then we will see the remaining nodes incur million dollar yearly costs on faketoshi and calvin ayre.This attack could be extremely profitable because at the same time as you begin the exposure of the centralization you can be in the market short selling. Even if a big money actor wants to shore up the value of their coin they must do so by buying what the shorts are selling. It is a game of chicken that can be won because Wright and Ayre don't have infinitely deep pockets to support their own coins value by wasting all their money buying their own shitcoin. You can make them pay you for something valueless, and if they don't you still win by pushing the shitcoin into its true value range nearer zer0.The lowered price will lower hash rate exposing it to 51% attacks or the Faketoshi&gang will have to subsidize the mining costs.They are opening themselves up to ruin. This will be a lesson in why you don't let sociopaths and imbeciles make technical decisions
Submitted July 24, 2019 at 12:46AM
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