The Bitcoin Node Market



Summary:

The discussion is about incentivizing full node operators to keep their node running for as long as possible once started. One suggestion is exempting SPV wallets from paying the fee so that only full nodes would pay other full nodes when initially syncing the blockchain. However, this imposes a worse user experience on casual users who want full node security but don't want to run a server 24/7. It's difficult to explain why their balance is withering away each time they open their wallet. Furthermore, users of centralized wallet services like Coinbase wouldn't have to pay that fee, while users of native wallets like breadwallet would have no such option. This incentivizes users to use centralized wallets. The proposal makes the user experience for mobile wallets a little more confusing and annoying. If a user runs Bitcoin-QT for the first time after downloading it to try it out, they wouldn't be able to sync the blockchain. Even if the wallet has a balance, how would the wallet be able to see that it has UTXO's without the ability to sync with the network for free?


Updated on: 2023-06-09T23:21:24.390787+00:00