Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
I thought this was supposed to be P2P trustless electronic cash. Not connect to some hub and pay additional fees. However, Mr Wright seems to think that if I run a node, and not mining, that I'm just a fat wallet wasting network resources. Such plebs as us should just connect via SPV and pay fees. Wow, Mr Wright, that's really going to help the unbanked of Africa.
I'd expect there will always be some form or "free service" available (both for Merkle-branch proofs and for transaction confirmations). But I suspect timely-confirmations will cost around a penny and that timely SPV proofs will cost several-orders of magnitudes less.
You have too much faith in many of these pool operators, who would be running the mining and the nodes. You really think they are going to charge pennies when they can command dollars?
