This process may still take hours, but is supposed to be much faster. But it seems to me that speeding up the block time negates the negative aspects of download the block size such as leading to centralization. All transactions that involve a partner Bitcoin don't have full trust for. Bitcoin Blocks is a full Bitcoin client. I speeding reindexed a node that was already synced in order to enable txindex ; it took around than hours. In the end, faster a few systems can win or maybe just one.
User October 11th, at I know it's somewhat easier to attack it, but Bitcoin can take this slightly increased risk. As such, it is more resistant to wild inflation and corrupt banks. If you have set up disk compression at any point in order to increase available disk space then you should be aware that this can reduce disk transfer rates, so you may want to re-consider. Digital currency "miners" this week mined an eight megabyte block, which allows for greater transaction speeds and "has proven that bitcoin cash is working," said Charlie Hayter, CEO of digital currency information website CryptoCompare.
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Sign up or log in Sign up using Google. Become a Redditor and subscribe download one of speeding of communities. I just reindexed a node that was already synced in order to enable txindex ; it than around 9 hours. Catching Blocks Blockchain After several days of import, the bitcoin blockchain faster. You won't be able to vote or comment.
In my experience it is the disk transfer rate which is most likely to limit the speed at which you can download a blockchain and sync your wallet. So here are some simple tips to help you improve your disk transfer rate performance on a Windows computer:. This is the one which proved to be the most effective for me. With a standard Windows installation the virtual memory setting is set to automatic, which selects a conservative figure that may limit performance.
We are going to change that to a custom size calculated to get the most out of your hardware. The following instructions to find the virtual memory setting are for Windows 8. They may vary on different operating system, but not by much so you should be able find it with a little initiative.
If not you can always Google the exact instructions for your OS. On my system this was already selected as standard. If you have set up disk compression at any point in order to increase available disk space then you should be aware that this can reduce disk transfer rates, so you may want to re-consider. Glossary Best of Bitcoin. Owner, Editor, and lead writer for Cryptorials. Cryptocurrency writer and trader since PC , wallets , Windows.
All transactions that involve a partner I don't have full trust for. For example if I'm a merchant and somebody buys a computer I will not let them out of the store before I have at least one confirmation. None means they could be attempting a double spend. I think this is rational, but even if mathematically it makes no sense, the perception is very important too.
I'm aware there are solutions that give you a very high confidence level based on trustworthiness without confirmations and it goes up with every second, but it would be great if the blockchain itself performed this function. It's easier to think of it analogously. Here in my city we have a light rail that travels in a square the trains leave every 15 minutes and can fit people. Now picture the same situation with the train leaving every 1 minute instead of 15 minutes.
We can increase transactions by making the blocks bigger or faster. Faster seems to hold the fundamental ideals behind bitcoin I believe. Decreasing the average time between blocks would be nice. One minute, two minutes, 5 minutes, anything would be better. Even though it doesn't happen every day, having to wait an hour or more for a single confirmation is atrocious. I'm sure it happened to most people who use Bitcoin regularly. Given, a single confirmation won't carry the strength of a current one, but increasing confirmation granularity is a great outcome.
I'm less enthusiastic about trying to somehow control block time on the fly in smaller time frame, like intraday. Sounds like there would be too many variables involved and it could possibly open up new avenues of attack for malevolent or even just selfish participants. Even though the block size increase seems to be divisive enough by itself, and this carries the risk of introducing another point of argument with no full consensus behind it, I think it's still worth floating this.
It's better to get over these changes in one package so users will only have to introduce major changes to their implementations once in the next 6 to 18 months or so.
If there is going to be a hard fork; we may as well go all in and change the block time. I only make about one Bitcoin transaction a month. But every time I do it takes close to an hour for the next block to be found. I know it's just variance, and I'm just unlucky, and I know it doesn't matter too much because the transactions are already broadcast and they always get in a block eventually, but still, the delay annoys me.
Whether Gavin is pro shorter block times or not I am actually opposing him there and think 10min is mostly fine doesn't make the blocksize issue and his input on that any less valid. Don't throw two mostly separate issues together. Gavin is able to separate them, and so should you. This idea is crazy. Before making any judgment calls I'd like to see a proposal along with the motivation.
Anyway he didn't respond the first time he mentioned it, so I'm filing it under funny humor. Increasing block times, does that mean 25 new bitcoins in circulation every minute? That is huge inflation that will have a downward push on the price. Forget about as the year the last Bitcoin will be mined. I think that change would be done with a reduction of the block reward. I think Gavin is just testing to see how many follow him blindly, the idea is preposterous it's a violation of the protocol unlike the block size increase.
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Welcome to Reddit, the front page of the internet. Become a Redditor and subscribe to one of thousands of communities. This is an archived post. You won't be able to vote or comment. Want to add to the discussion? Quark had some issues if I recall. Anyway it's a crazy idea. Block discovery times are not a problem. Bitcoin is what it is because of the network of users. And it's much faster to get to one or two confirmations. At least that is how I picture all of this.
Block time changes are a whole other can of worms.