I just began the download of the Bitcoin Wallet about 8 hours ago. For those interested in the latest file size, it is 122 GB.
It is looking like a full 22 hours, based on my broadband connection, which I consider quite good for where I am in the UK. I usually download at a rate of 4-5 mb a second. The rate of downloading the Bitcoin Wallet is about 2.5 times slower though.
My main computer is loud with the fans, and in my bedroom. I have had to do it on my laptop downstairs, for silence. Otherwise I would not get to sleep!
which one did you decide to go with?
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Bitcoin Core, at bitcoin.org
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Why didnt you just install jaxx? :)
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I am very new to this. And different people do seem to be saying different things. Some I have listened to say that I need the Bitcoin Core file to have a local wallet on my own computer. If I do not need the full 122GB file for a local wallet on my own computer though, then I have been misinformed. Is that what this Jaxx is?
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In my opinion Bitcoin will fail. Can you trust a currency that is reliant on vulnerable technology?? With the creation of a number of new competing cryptocurrencies being developed and eventually diluting the market. If a cyber attack occurred would your Bitcoin be safe. Would you intrust thousands of dollars to the system? How long before Government infiltrate this technology and causes it to fail? Why would Government do that? Because central banks will not tolerate a currency that they do not have complete control over, thats why. If they cause a failure in the system, then people will lose confidence in them, unless of course the federal government comes to the rescue and offers to insure the currency FDICA baby. Look what they did to Precious metals. The feds found a way to manipulate it and fix it. The banks simply print and sell enough paper contracts to dilute the market. Some say that there are up to 200 hundred paper contracts per ounce of gold. The silver and gold markets are easily moved by the simple push of a computer key. They must regulate it in order to keep the value of the dollar intact. The same is true with cryto. If they let the market run, paper currencies would diminish in value. Is it possible that the cryptocurrency was ordained by the central banks as a trail to see if people would buy into this type of monetary system? But for now enjoy the wealth it has created, just don't think they will let the party continue.
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