3 ms·
I don't like bitcoin because everytime I turn on the Bitcoin app it takes so long to "Synchronize with the network". Basically confirm transactions for other pe
by meric 14y ago
I don't like bitcoin because everytime I turn on the Bitcoin app it takes so long to "Synchronize with the network". Basically confirm transactions for other people. I'm not sure what is the algorithm's running time. Is it O(n) where n is number of transactions? That would be excessive, because the number of transactions is very much bigger than O(m) where m is the number of people.
Anyway, there is a chance I'll be wrong and bitcoin will be worth $1 million one day. To hedge against this possible situation I have procured myself 0.05 of a coin, some year or two ago when they were worth $0.8 each. At the time I basically took the number of bitcoins that will ever exist and divided by current population of the US. 21m/300m = 0.07, of which my 0.05 is pretty close to.
- sounds 14y agoTry a "lightweight" client. The official bitcoin-qt client is designed to be always on, 24/7/365. Example of a lightweight client: electrum.org
- eksith 14y agoYou've waited too long between running the app so naturally there will be a long wait. If you do this at least daily, it won't be such a problem. Bitcoin economy exists solely by the confirmation of transactions by other people, so you're just doing normal housekeeping. The network is the bank. The very nature of the currency makes you to take some odd ways about generating and maintaining it.
- kolinko 14y agoYou don't need to install any apps on your computer, nor to synchronize with the network.