Sunday 7 September 2014

How to run Bitcoin Core 0.9.2.1 on an external Hard Drive

Hey, what's up guys!!

Today I want to explain how you could run the official Bitcoin Core client on an external hard drive and if you are a newbie how to speed up the sync process to the Bitcoin Network.

Lately I always had this thought on my mind: "what if my computer suddenly stop working? Would I lose all my bitcoin then?" My first naive answer would be "well, what's the problem, since you have the back up of your wallet on an offline usb memory stick?". That is a smart procedure that I strongly suggest to every diligent bitcoin user, but the fact that you could restore your wallet is just one part of the equation. In Fact if you use the Bitcoin Core official client, then in order to spend your funds, you still miss one crucial point, the real big invention that Satoshi Nakamoto actually gave to the world: the Blockchain. This piece of software is the public ledger where are stored all the transaction which had been, are and will occur between the bitcoin users. On the time of this article, the size of the whole Blockchain is 24 Gb that actually you have to download from the other peers in order to successfully spend your bitcoins. Of course the time required for this operation will depend from your internet bandwidth and from the number of the peers. So why don't we make periodically a back up of the Blockchain and share it on the torrent network, in order to speed up this process? I actually managed to create a torrent file that you can download, update to August 23th 2014.

Here is the step by step guide of how to run the Bitcoin Core client on an external hard drive:

1) Buy a huge external hard drive that you wll use exclusively to run the client. (suggest 1 Tb USB 3.0)
2) Download the latest version of the Bitcoin Core client. I tested this procedure for the windows 64 bit version.
3) Run the installation process by double clicking on the .exe file
4) Click next on the set up wizard
5) Click "Browse" and choose the path where you want to install the client (external hard drive), then hit next, install and you're done.
6) Now run the Bitcoin client and it will ask you where to store the Bitcoin Blockchain. Chose the external hard drive and create a new folder (example bitcoin blockchain). The sync process will begin.

Now we will speed up this process.

7) download a torrent client (Vuze)
8) download my back up
9) After the download is complete copy and paste the file on the Bitcoin Blockchain folder on your external hard drive.
10) Congratulations you are good to go!!!



 Enjoy the video!!!

 
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