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Posts Tagged ‘Bitcoin Core’
Earlier this year we have reported when the Bitcoin Blockchain data files have passed the 40GB mark and now, just about three and a half months later, the data files have reached a total size of 50GB. This all comes as a result of the increased number of transactions and the wider usage and adoption of Bitcoin, but as the size of the Blockchain data continues to grow it also becomes harder for users to run a full local wallet. An alternative is to go for a lighter version of a Bitcoin wallet that does not need all of the Blockchain data stored locally. You can also go for a service offering online Bitcoin wallets a more attractive choice as they will save you the trouble of taking up quite a lot of space on your hard drive and the slow update times if you do not run the wallet often enough to keep it synchronized. Not to mention that if you are using the default data directory on your C drive you might be having trouble finding enough free space, especially if you use a smaller SSD for a system drive. The solution for this would be to move the Blockchain data files to another drive and run the Bitcoin Core client with the datadir parameter pointing it to the drive and folder you have moved the data files in like for example a second hard drive.
Bitcoin Core Version 0.11.0 Has Been Released
13, Jul 2015
A new major Bitcoin Core version 0.11.0 is now available for download bringing both new features and bug fixes, so it is recommended to upgrade to it if you are running a full Bitcoin node or a local Bitcoin Core wallet. This release also addresses the recent issues with the network being flooded with low-fee transactions resulting in slow processing time of Bitcoin transactions. Now you can change a few configuration options to work around this issue and more robust solutions are being worked on for a follow-up release.
Among the notable changes is the Block file pruning that allows running a fully validating node without maintaining a copy of the raw block and undo data on disk which is good for running a full node with more limited space, but does not work with local wallets yet. Block pruning allows Bitcoin Core to delete the raw block and undo data once it’s been validated and used to build the databases. Experimental support for big-endian CPU architectures was added in this release. There have been many changes in this release to reduce the default memory usage of a node. This release also improves the algorithm used for fee estimation.
– For the list of new features with additional details about the Bitcoin Core 0.11.0 release…
If you are using the Bitcoin Core wallet to store your Bitcoins locally on your computer you have probably noticed that the Blockchain data files have already passed the 40GB mark (about 40.8 GB at the moment). With the increasing number of transactions happening on the network the increase of the files will continue to grow constantly and this is another aspect that will cause issues for users. Apart from the serious file size there is another aspect, the time needed to synchronize the Blockchain data from scratch is quite big and it is not only dependent on the harddrive’s speed, but also on the CPU you’ve got to process all the data. If you are using the default data directory on your C drive you might be experiencing some free space issues, especially if you use a smaller SSD system drive. The solution for this would be to move the Blockchain data files to another drive and run the Bitcoin Core client with the datadir parameter pointing it to the drive an folder you have moved the data files.
Alternatively you can go for a lighter version of a wallet that does not need all of the Blockchain data stored locally such as MultiBit or Electrum. And then there is also an alternative in the form of an online Bitcoin wallet, there are multiple options available to choose from such as Coinbase, Xapo and many others. Another interesting alternative for long term investments is to use your Bitcoins, or at least some of them, to buy Gold or Silver for example from a trusted precious metals dealer accepting BTC. Then there are also many other ways to invest Bitcoins, but you should be careful as there are quite a lot of scams out there promising very high and very fast returns on your investment, so you should be extra careful with such offers.