In theory the D70 should be OK with cards more than 2GB, so it's possible the card has been pre-formatted in FAT16 mode which limits the usable memory to 2GB. You should try formatting it through the camera (as opposed to a computer) which will format it in FAT32 mode that theoretically allows up to 32GB.
If it still gives problems then could be a compatability issue especially if you are using a third party card not approved by them.
The D70 has known issues with certain cards / capacities. Nikon has identified the cards and capacities that are guaranteed to work with the D70 specifically, on their page dedicated to this info linked below:
It seems that only Lexar and Microdrive cards that are 4Gb are supported (some with significant limitations) and no card greater than 4Gb is supported at all, regardless of manufacturer.
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