Would increasing block size significantly increase resources other than disk space and network throughput? Is there some basis other than intuition that the lack of full nodes is primarily a result of resource consumption? My intuition, and small sample size study is that people don’t choose the QT wallet not because of the resources–now that it is synced, it sits here running virtually unnoticed on my mid-grade laptop with mid-tier broadband–but rather the start up time to use it the first time btc e bitcoin wallet out of sync. People are lazy and prone to inertia.
Has there been any type of proposal considered turning bitcoin-qt into a sort of hybrid wallet? Something that would allow bitcoin-qt and bitcoind nodes to communicate with each other about balances of certain addresses? I assume the bitcoin-qt doesn’t allow spending until the blockchain has been fully synced as a way of discouraging double spends by amateurs. Perhaps there is another reason as well?
That is, what would be the downside to letting the “local” bitcoin-qt be more lenient with transaction creation but perfectly strict with “other node” propagation? I would like to see people encouraged away from online wallets. I wonder if the resitance to increasing the blocksize is genuinely based in the reality of the user base. It is super annoying to wait almost a full day, even using the bootstrap. And I myself have intertia and like to use it.
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Why is my Bitcoin wallet always out of sync? So if you don’t leave your client continuously connected, or when you’re connecting for the first time, then when you do connect it will be out of sync and need to download and verify new blocks. One method that brings the convenience of an EWallet but keeps the private keys local and not stored with the provider is Blockchain. That might be a better client if keeping your client connected continuously is a problem for you.
Bitcoin clients with the exception of SPV clients like Multibit need to download the entire blockchain history before consolidating the wallet. Currently the blockchain size is around 22 Gb and increasing. The time it takes for your client to sync will depend on your internet connection. SPV clients like Multibit do not download the entire blockchain history.
They only fetch the relevant blocks that contain your transactions. Hence they do not take time to sync with the blockchain. Not the answer you’re looking for? Browse other questions tagged synchronization or ask your own question. Faster way to sync my new Bitcoin wallet? How long does it take to Sync my Litecoin Core Wallet? Which European monarch of the middle ages died furthest from home?