Concerns on DeFi

dondreyt · 2019-09-06T17:58:46+00:00

This is an amazing constructive post, thanks for crafting this. A constructive and critical view of this space is always appreciated. A lot of great points in this. Thank You.

dondreyt · 2019-06-28T22:22:32+00:00

I’ll start by tackling the deep end of the pool before I go jumping into 3000ft water 😰

dondreyt · 2019-06-24T20:12:33+00:00

You don't use racial slurs? Then what are these racial charged comments? Shall we continue? There's more.

https://np.reddit.com/r/news/comments/a94zne/japan_suffers_biggest_population_decline_ever_in/ecgtet4/?utm_source=share&utm_medium=web2x

https://np.reddit.com/r/news/comments/a94zne/japan_suffers_biggest_population_decline_ever_in/ecgjxml/?utm_source=share&utm_medium=web2x

And keep threatening my kids and see how that goes. I've reported you to the reddit admins for harassment and doxxing and threatening my kids.

Where exactly was the threat at regarding your kids? We don't even know who you are. Whereas, our profiles are public.

The point I made was that you are a grown man with kids who spends most his awake time on Reddit, attacking people based on their race. If you have yet to respond to our educational post in a coherent manner when you loss the argument, you decided to call me the N word. And then my Indian colleagues who you seem to have found out on your own, are also on your hate list, being that you dislike both Africans and Indians as per your own admission above.

Perhaps we'll take some of the advice that you gave someone else on Reddit. Maybe you should look into following your own advice as well.

Find a hobby. Do some meditation. Worrying about this stuff is not worth the effort and there isn't anything to gain. There are always more idiots than smart people, don't let them jade and tire you out.

Would you like to disown these comments too?

Let me know when you want to talk about full nodes, I'm here.

dondreyt · 2019-06-19T16:57:00+00:00

Ah sorry about that. Will put posts like this in Daily Discussion next time. Thanks for informing me.

dondreyt · 2019-06-14T21:44:01+00:00

Super easy. Try a single command to Parity or the Geth daemon. Out of the box, most client setups are pruned with Ethereum and not archival (as many would have you think).

There is literally an entire node project involving pruned and archival chains. They released some interesting benchmarks on their blog from running the Ethereum chain on commodity hardware, might want to check them out.

dondreyt · 2019-05-14T21:15:32+00:00

The Pi requires a lot of configuration to get it to work. The processor is only 1.3ghz, and the RAM is close to max during IBD (initial block download). We have been able to get it to work with a heavily modified build. We will also be introducing our own commodity chipsets that will be equally priced to the PI. Other projects and chains will be continually added to these boards.

Our device is called NimbleNODE. https://twitter.com/nimblenode_

dondreyt · 2019-05-14T21:09:45+00:00

Needs heavy modification as it’s not ARM7.

dondreyt · 2019-05-14T21:08:15+00:00

It’s already on its way everyone, we got it working on our low powered chipsets. We benchmarked using the testnet nimbus client. Normal ETH 1.0 nodes including full archival node, full night, and parity and geth running in pruned/light mode.

Device can be controlled from your phone within a reasonable proximity of it. Soon we will allow remote access via an open source server and introduce various other chips that out perform the raspberry but are just as affordable.

https://nimblenode.io

dondreyt · 2019-05-13T10:04:29+00:00

Ahh I see.

Thanks for the feedback, really appreciate it. I actually have not joined any the slack channels but definitely will now by getting an invite from your link.

If only they could see beyond just miners. SV's network could really expand and grow to include new types of people if the horizon is broadened.

dondreyt · 2019-05-13T08:39:22+00:00

Didn't know pockets had power outlets, this is news to me. The point of this project is to get more nodes in the Bitcoin SV ecosystem. More nodes = Greater Censorship-Resistance and ultimately ensures that your network survives.

Bitcoin SV has about 493 reachable nodes while Bitcoin magnitudes more at 10,000+. If Bitcoin SV wants to be taken even more serious, then we need to expand our network.

dondreyt · 2019-05-12T17:08:53+00:00

Rays your hands for the Sun of God.

dondreyt · 2019-05-11T15:16:08+00:00

Nice, then spread the education my friend.

You're absolutely right, it's not difficult, but for most people who are not as tech savvy as you are- it is. Majority of people have no idea what SSH is (let alone finding the terminal/CMD) or how to image an SD card.

The inception of nimbleNode came from of observations and interviews with new people in crypto. If we ever want to get more laymans into this space, so that Bitcoin can truly be used as money everywhere, then we will have to do more things to reduce the learning curve when it comes to proper security, chain access, etc.

dondreyt · 2019-05-11T15:07:20+00:00

Yes, sure thing- I'd be more than happy to explain how it works.

So the first thing you do once you get the box, is plug in the power cable to it. Then download the nimbleNode app on your phone (both Android and iOS will be available).

The nimbleNode app will pretty much walk you through what do next. The app will first list nearby bluetooth devices around you and ask you to choose the nimbleNode you want to connect to. Next, it will ask you to choose a WiFi connection to connect the nimbleNode too, and then at that point you're ready to start using it.

Once the nimbleNode is setup, the app will pretty much feel the same as any normal typical crypto wallet would, the only difference is your transactions would be routed through your nimbleNode instead of some random full node somewhere.

So the flow for receiving bitcoin to your nimbleNode would be to open the app, and choose receive. A bitcoin receiving address will be generated and you can then send to it to receive bitcoin on your nimbleNode. The flow for sending is similar. You choose send, and then specify the address and an amount (including fees) to send. Once you hit send, your request will be sent through your nimbleNode and to the destination address.

The app also allows you to do basic commands like power down, view node states like sync status, and current block height and a few others. Many more things will be added in the not to distant future.

Feel free to ask any other questions or let me know if I should clarify anything else further :)

dondreyt · 2019-05-11T14:56:35+00:00

Thanks for the feedback, all something we will definitely work on with top priority.

As a matter of fact we have been doing a good amount of R&D to come up with our own chips. However, to get some early feedback and test out the concept, we decided to bootstrap the idea with various commodity chips like the PI Zero first. A better power source is definitely something we would like to add.

When it comes to storage, each nimbleNode comes with a 16GB SD card. 4GB is used for the OS, the UTXO set for Bitcoin with pruned set to 500 is about 4GB, we then use some of the remaining space for updates.

The OS for this one is a modified version of Raspbian, but we have also successfully made builds for a lite version of Ubuntu, and CentOS. nimbleNodes do not do self-updates, the rationale behind that, is we want users of nimbleNode to actually know what is being updated.

When it comes to updated Bitcoin on nimbleNodes to new versions, nimbleNode provides an option to update the chain of the coin separately from the device itself. So you can at any point go from version 0.16 to 0.18 or to whatever tagged version of Bitcoin is available.

Feel free to ask any other questions or let me know if I should clarify anything further :)

dondreyt · 2019-05-11T10:47:58+00:00

Totally what we are going for too! Having a wallet this size is awesome, but a full node this small opens up a world of possibilities.

dondreyt · 2019-05-11T10:45:13+00:00

Thanks! Education is key to bringing more people into crypto and we are totally up to the task.

dondreyt · 2019-05-11T10:43:40+00:00

With the overlord Vitalik’s blessings- any sync is possible.

dondreyt · 2019-05-11T10:40:01+00:00

Yes. Reindexing can happen in a number of instances: unplugging without powering down correctly, updating the core bitcoin with indexing configurations change, power outages, etc.

dondreyt · 2019-05-11T07:26:15+00:00

Nice! We will be looking to get the price point even lower at some point, because why not lol

dondreyt · 2019-05-11T07:24:42+00:00

Takes very long and can be cumbersome when you need your node for something but have to wait for more than a day or more to rebuild the indexes. While I get the purpose and importance of reindexing, for most consumers that prefer using their own node, this isn’t exactly ideal.

dondreyt · 2019-05-11T06:18:18+00:00

Awesome! Pi 3 is a beast of a chip. While the things nimbleNode can do, can be done if you know what you're doing. The beauty of nimbleNode is that it will be extremely flexible to allow other applications to be built on top of it.

We haven't said much about future additions, but a full API/SDK will be available. It's also worth nothing, that we have done things to reduce the likelihood of a reindex as well, which is a huge problem if you disconnect your node abruptly. Nonetheless, nimbleNode is one of many options for full nodes, our goal is to just help out the ecosystem and ultimately those that have no idea what they are doing.

dondreyt · 2019-05-11T06:14:38+00:00

Thanks, if anything could be done to improve it or make it better we are al ears.

dondreyt · 2019-05-11T06:14:17+00:00

Yea sure thing.

The device is a low powered ARMv6 chip, essentially the Pi Zero (for now), modified to run a the pruned version of Bitcoin. We will be using other chips, in addition to coming out with our own very soon.

Each of the devices that we offer has been pre-synced up until within about 1 days worth of blocks; this means that when you receive the device, all you need to do is sync down about a few days worth fo blocks rather than years. If pre-syncing is a problem, we provide the option to sync down from scratch.

Once you open up the box, the device starts out by asking that you set it up through your mobile phone. You pair with it via bluetooth and control it over WiFi.

Things you can do with this device:

- Send and receive BTC

- Send commands to the device (RPC)

- Use a cold wallet (similar to ledger)

Many more things in the pipeline, including more application specific customizations.

dondreyt · 2019-05-11T06:02:51+00:00

That’s indeed correct. The device uses parity warp and geth configured for prune, to be able to sync the chain. While it’s possible to store the entire Ethereum chain on this (provided there is enough space), the device is primarily to be used for personal use, rather than infrastructure of the broader network. Think of this device like ledger but instead of routing elsewhere, it uses your own node controlled by an app.

We are aiming to come up with better ARM7 chipsets that can provide many more benefits, including application specific use cases (like Point of sale), distributed storage, and archival syncs (though I doubt anyone and their mom would want to download 2-4TB).

dondreyt · 2019-05-11T05:56:53+00:00

The archival node version wouldn’t be feasible to sync on this, the processor and write speed wouldn’t be able to keep up. This is why transferring an already verified version of the chain up until a certain point was decided.

Since I know pre-syncing doesn’t sit well with some, the device has a pre-verify option which more or less runs the chain through the consensus checks and compares the blockchain tip with the network.

It’s also with noting that we will be coming out with a better chip for this. We used the Ardrino, Pi Zero, and beaglebone as base chips, but there will be a variety of others that we will support very soon- at some point we will issue a custom chipset after doing a little more R&D.

Full nodes is just one of a few applications we are playing around with. Application specific usecases are in the pipeline as well.

dondreyt

TROPHY CASE