Re: Cryptocurrency: Rise of Bitcoin Cash BCH

From: Steven Schear <schear.steve AT gmail.com>

Subject: Re: Cryptocurrency: Rise of Bitcoin Cash BCH

Date: Mon, 2 Jul 2018 17:50:02 -0700

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To: Juan <juan.g71 AT gmail.com>

I guess for you the article is a TL;DR. There was NOT a suggestion of simple confiscation. All one had to do, to prevent "reclamation", is to periodically move assets on the blockchain.

On Jul 2, 2018 5:19 PM, "juan" <juan.g71 AT gmail.com> wrote:

On Mon, 2 Jul 2018 22:37:15 +0000 (UTC)
jim bell <jdb10987 AT yahoo.com> wrote:

>
>
> On Sunday, July 1, 2018, 11:09:34 PM PDT, juan <juan.g71 AT gmail.com> wrote:
>
> On Mon, 2 Jul 2018 00:22:03 -0400
> grarpamp <grarpamp AT gmail.com> wrote:
>
>
> " as you know grarpamp (or maybe you dont know?) the size of bitcoins ledger is ~200 gbytes at the moment. "
>
>
> On Amazon, I see a 200 GB micro SD card being sold for $71. A 256 GB micro SD card is sold for $120. Rather spendy, but within the realm of possibility.

And? You can buy a 2 terabytes HD for $50 or so(or less?). I suggest you do that if you want to store the blockchain, SD cards aren't reliable - HDs are cheaper and better. But guess what? Storage isn't the problem anyway.

The problem is that peers have to transmit and process the whole ledger.

And the answer "so called moore's law will magically solve everything" isn't too convincing.

>
> About "a Gigabyte:: In my college days, 1978, we had a comedic, fictional dormitory organization called "TWePOE" ("Third West Power Elite"). I, the only one with a functional personal computer on my hallway (my own homebrew "Bellyache I", a comedic take on the famous "ILLIAC 4), my room became the "GBDSC", short for "Gigabyte Data Storage Center", a subsidiary of the organization "MOIA", short for "Ministry of Information Abuse", whose ominous motto was, "We've got a file on YOU!"
>
> I chose "Gigabyte" because, at that time, it was such an inconceivably fantasticly large amount of data storage so as to be awe-inspiring. (An 8 inch SSSD floppy disk stored a grand 240 kilobytes of data, so it would have taken more than 4100 of them to house a full gigabyte.)
> Today, the idea that I could buy 1 million times the storage of one of those 240 kilobyte floppies, held in a wafer smaller than my pinky-fingernail, remains amazing to me.
> Jim Bell
>
>