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Mythbusting: Running a Bitcoin node is "expensive" if block size is bigger
Love TA and Bitcoin Cash. Find me at https://twitter.com/imkeshav
3 years ago
One of the strongest arguments small blockers would use against increasing the block size is that it would become very expensive to run their own node at home and cause "centralization" of Bitcoin
The basic premise being that bandwidth costs will take the control away from an individual user (node)
This argument keeps coming up again and again, but its premise is incorrect as the view comes from people living in North America where Bandwidth costs are astronomical (2.5X) compared to a developing country like India
I believe this is one of the most destructive myths which stunted Bitcoin's growth and created a civil war with the creation of Bitcoin Cash and its very simple to burst this myth.
Most nodes for BTC and its supporters (Maximalists) are from the North American region. The bandwidth costs are expensive there because of a monopoly of ISPs, they don't have a lot of competition and they demand such higher charges and people don't really have a choice but to pay the cartel.
1 Gigabyte internet connection costs $85 in my city with 1TB download limit, these maximalists are just out of touch from the reality
Bandwidth costs in a developed country like the US are 2.5X for the same speed
Its ironical that the very people who are fighting for Bitcoin to be available for home nodes so that it is government resistant are too ignorant to realize that the same govt and its favoring corporate monopolies is keeping them from fully realizing the potential of Bitcoin unleashed from the shackles of 1MB block.
Trying to keep Bitcoin decentralized while living under a centralized regime of ISPs
No wonder they are willing to pay 5x higher fees to transact in their version of Bitcoin (BTC) as they are used to paying 3x the internet costs as a home user in a 3rd world country
What is a fact (high prices) for a Bitcoiner staying in USA is just a myth for a Bitcoiner like me staying in India
The world doesn't wait for those who try hard to maintain the status quo, people now have a choice through Bitcoin Cash