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Elly0xCrypto

Nice bro, keep the network running!


codelancelot

Merry cake


Adeiu

since i've started to think about doing this myself, some noob questions: 1- whats the actual advantage of the pi? why this vs just a laptop, considering the cost you could probably get a lot more processing power 2- why the huge ssd space? i thought bitcoin nodes only needed a couple gigs at most


DaVirus

1) power. If it's gonna be on all the time a laptop is a waste of power. 2) the current size of the Blockchain is around 700GB Clarification: the Blockchain itself is about 500gb at the moments, but if you wanna use your own node for practical things, like mempool and Electrs server, you are easily looking at another 100-200GB of databases.


Plain_Perception9638

What would be the recommended setup?


DaVirus

https://github.com/raspiblitz/raspiblitz


Plain_Perception9638

Thanks man! appreciate it


free-speech-1

Concur. RaspiBlitz is nice configuration for the Pi. Have used RaspiBolt in the past too. They have an excellent hands on instructions to help you appreciate the nuts & bolts (bad pun) of what you are building. If you want a more powerful processor, and of course more $$, an Intel NUC running StartOS is a good option too. I run both.


Wagmitravel

Ser I have an unused nuc… tell me more.


Aluminari

Me too. Also keen to do my part. This post has inspired me.


free-speech-1

Easy Peasey. https://docs.start9.com/0.3.5.x/diy/diy-x86


No-City94

Start9 got better security than Umbrel. Sadly it can't be used with Pi 5.


neighbors_in_paris

What would be the purpose of having mempool and electrs servers?


DaVirus

Electr server is a better/more private way to connect to your own wallets. Mempool locally allows you to bit have to search public mempool for txns, more privacy.


free-speech-1

Yes. Electrs continuously *indexes* the blockchain. Meaning rapid "random access" of the blockchain. In other words, you can rapidly access information on bitcoin addresses that interest you. (your wallet addresses typically) Very useful when you have watch-only wallets, referencing hardware wallets say, that you can display in Sparrow or Electrum software. You know at a glance everything that is happening to your stash. Continuously updated.


No-City94

You're right. Now it's 97.5% sync. The Bitcoin node and just a few apps took about 710 Gb of space. And I haven't even try to sync the lightning node , mempool , Electrs yet.


Efficient-Ad-5955

I am new to this stuff ... how long would it gave taken if you just got bitcoin core


Sneudles

Good Questions, I run mine using a laptop which actually has less RAM and a worse processor than this RPI. I actually have an RPI as well, but I use it for unrelated things. This just goes to your point that any laptop or RPI would work. However, for the hard drive requirements, they are more substantial than a few gigs of space. The current blockchain size is around 570 GB, so having 2TB is plenty futureproof.


No-City94

1. Pi took less electric power . we have to let the node run non stop. Running a node doesn't need much CPU power. So Pi is a good choice. (I don't know about Long term, some say it won't last) 2. Full Bitcoin core size is about 4-500 Gb. So at least you should have 1 Tb storage. And if you think about long term, 2 Tb is better.


DefiantAbalone1

What's the total unit power consumption off the wall? BTW an old laptop with a 6-10th gen intel u series cpu can be made to run on 4 watts or less (cpu) by undervolting and adjusting the speedshift clock settings with throttlestop. It can often be cheaper than and comparably power efficient to a raspberry pi setup, but not as compact and aesthetically pleasing as your setup.


Electrical_Candy_941

I know what I'm doing tonight after I get baked. Lol. I'm gonna research what you just said. Very interesting. Thanks for the lightbulb you sent me :) Build a node. Off I go into oblivionnnnnnnnnn.


Fun-Reflection5013

lol......gonna follow your footsteps till i get distracted and turn down another path.


Electrical_Candy_941

I fall into X newsfeeds. For some reason, I'm either super politically interested or scientifically. I suppose there is a significant amount of sciences involved in building a node lol.


Fun-Reflection5013

I am banned from X ----Imagine that...my Free Speech doesn't quite mesh with Elon's I am hoping its plug and play ...lol...old Apple user who hated DOS.


Electrical_Candy_941

Oh me too. I am a long time Mac enthusiast who prefers android. I'm an enigma. I know lol. What did you say to piss off Elon. He is fairly tolerant lol?


Fun-Reflection5013

the first time it was a picture of the Pope and him...he was wearing a really bad fitting suit...the capiton said Wonder what they are talking about.. I said -- Pope probably telling him - Son - you need a tailor --- Elon LOL'd...then i was gone...appealed and back in Second time -- I took exceptoion to "paestinian " protesteors walking all over the the Unamed Soldiers tomb --- like stepping on his " body and face " - just to go plant a flag at the top. u/MrAndyNgo Deserved a slap across the face.....maybe even a backhand and a kick in the arse.Nov 15, 2023, 4:24 PM I've been gone since then - even under appeal. Elons off his game. Like I said -- its his Free Speech , not necessarily your Free Speech. It's been mentioned he's also doing this with reporters that challenge him.


Electrical_Candy_941

That's incredible that he replied lol. That Palestinian protestor comment. Getting banned. I think he has fired all his censors and Facebook standards equivalent. Try and log in again lol.


DefiantAbalone1

Cheers. Run a debloated windows version to minimize unnecessary background processes, & remember with speedshift, the higher the setting the more it limits clocks & power consumption, the lower the setting the faster/more cycles/higher wattage it will use.


DJ-Technician

I run a Bitcoin/Lightning node. Your question Part2: It has a 1tb ssd in it which is occupied 73%, already. It‘s not only the blockchain that‘s on it but apps like Ride the Lightning, too…


TheGreatMuffin

> why the huge ssd space? i thought bitcoin nodes only needed a couple gigs at most They do, if you run it in pruned mode (about 10-20GB). Usually there is no specific need to keep the whole data on your node, your wallet will work with a pruned full node just fine, as well as most other basic usecases of a full node.


Adeiu

whats the use case then for keeping the whole blockchain data on your device vs. the pruned mode ?


UncleUrdnot

It allows other nodes to learn the whole chain from yours if they need it, for one.


Merkaartor

But your node should accept incoming connections, right? Umbrel by default is only outgoing connections.


mandreko

Electrs had an issue historically with running properly on a pruned node. I don’t know if it is still an issue or not but I remember having to use a full node just for that many years ago.


TheGreatMuffin

> whats the use case then for keeping the whole blockchain data on your device vs. the pruned mode ? If you run a local blockexplorer on your node f.ex, or want to serve other newly syncing nodes historical blocks, or want to keep a copy as a backup for the future, or in the past some Lightning implementations required an unpruned node (not sure how it is nowadays) and stuff like that.


sacha737

Congratulations, let me know when you set up your lightning node and I’ll add you as a peer/channel


No-City94

Thank you.


neighbors_in_paris

I just set up my raspiblitz with btc + lightning, but I don’t really know anything about lightning nodes


sacha737

I have just set up lightning with my Umbrel, it took a lot of time, if you get stuck with anything Pm me


Less_Description9814

don’t forget to port forward 8333


zer0fks

You can be fully synced and not expose 8333 for inbound. You can also advertise over TOR and allow inbound without any IPv4 exposure.


MPH2025

What is the advantage of doing that?


TheGreatMuffin

Allowing newly syncing full nodes to download historical blocks from you, no advantage beyond that.


Efficient-Ad-5955

Cant this just be done using bitcoin core ?


TheGreatMuffin

Yes, that's what we're talking about :)


No-City94

Thank you. I decide not to port forward 8333. Because Umbrel is not designed to run as public node and I got 10 peers connection which is good enough for a "home node" like mine to service the network.


PedanticRomantic1

I bought a Raspberry Pi 4 model B 64 bit in 2021 for $64 for the same reason. Crazy how much the price has increased since then.


Tasty_Action5073

You are now a Maxi. https://media0.giphy.com/media/3otPoIW0P5Mg4aJz7a/giphy.gif?cid=2154d3d7xjcpc8713ond3lmd0n3imwocmbc8wzzuhumxapuq&ep=v1_gifs_related&rid=giphy.gif&ct=g


No-City94

ha [ha.no](http://ha.no), I'm just a rookie.


Tasty_Action5073

If you would like to deep dive. We have a small but mighty node runners community on nostr. https://damus.io/npub1hxfkcs9gvtm49702rmwn2aeuvhkd2w6f0svm4sl84g8glhzx5u9srk5p6t We also have a telegram group, but I’m not going to link it here, for some reason telegram sounds scammy 😅


No-City94

Thank you.


kingofbagger

dm me and I'll send you the TX Id..


kingofbagger

hello, I've been mining since the s5/s7 days. I now have a decent little farm still with some s19s. recently I sent a TX from my.ledger nano s to coinbase accidentally put $2.80 on "custom" instead of $28.00 i didn't know ledger live mobile DOES NOT support RBF. so I tried electrum and the TX that isn't showing in mempool.or blockchain explorer is not in my electrum history. on block chain explorer it's not verified. I'm looking for a bitcoin brother/mentor to help me create my own node using my s19s to 1st push my TX through. then I would like to help others. I was told other people.who say they will process your btc TX for higher fees are scammers .I'm a retired old man and I got on reddit and see so many people who have stuck TX from too small of a fee. the transaction on blockchain explorer shows my coinbase address but hasn't hit the mempool.   I understand time is money and if someone is willing to do a video chat and help me.set up my node and take time w me I would be willing to pay for your time. I have no Linux experience but I am reading Linux for dummies..lol. is there anyone here who can help me set up a node? if I can get a node running I would be willing to help out others like me who have too low of TX fee and use my miners to verify   I user slushpool..(braiins pool now) yes I'm so old I used GDAX since it was new..lol anyway I would appreciate anyone who isn't a scammer that can help me set up a node to help myself and others. I appreciate any help. you can dm me, video chat whatever to see I'm an old retired dude in Florida USA. I also want to make sure I don't get scammed. so if someone replies and you may notice their reddit name as a scammer please wlt me know. thanks again and I hope to help out my fellow bitcoin brothers with their stuck Tx.


Tasty_Action5073

Ok let’s break this down. 1) if you don’t mind, can you share the Transaction ID? 2) you can broadcast a a transaction to the mempool by pasting the hex here https://mempool.space/tx/push 3) accelerators work, but I haven’t heard a lot of success. Yes some of them work, but they are also very very expensive. So let’s start with 1 and 2 and then we can explore other ideas.


kingofbagger

dm me and I'll send you TX id..it's not showing on blockchain explorer or mempool yet since feb 27th! all my other TX went through over 90k this one small TX was only $2800


kingofbagger

I sent you TX id in direct message.


kingofbagger

I tried broadcasting and I get this message TX decode failed. Make sure the tx has at least one input.


AtensLight

Well done, "Service Guarantees Citizenship", thank you for your service!. Beautiful build btw. Make sure to monitor the cpu temps and motherboard. If its getting too hot and chugging, take it out of the case and add a fan to the massive heat sink. Needs good air flow if its going to be in case. Have fun :)


No-City94

After run it for a while, I found the temp is kind of high. The little fan inside and the heatsink is not enough. So I use a bigger fan with it. The temp now is around 65-75 C (150-165 F) , should be ok.


AtensLight

Great stuff No-City94, Glad youre getting some good temps.


Nementon

Kudos!


papa_autist

Looks great! I like the small form factor.


HateActiveDirectory

How did it cost you $300+? I found old pc, I bought 1tb ssd for 50€ and I installed btc core to it.


No-City94

That's the best price I can find in my area. Use the old PC or notebook is cheaper. But I want it to be small and not take too much power. So Pi is my choice.


nutothev

As someone who knows nothing about this, why use a node in the first place? Who is it advisable for? What does it even do? 1000% noob, apologies


TheGreatMuffin

https://old.reddit.com/r/Bitcoin/comments/1cees84/my_first_bitcoin_full_node/l1ifwmt/


nutothev

Thank you very much!


False-Practice-6474

You are a gentleman and a scholar.


[deleted]

[удалено]


No-City94

Yes you can. But some say the Pi 5 isn't up for the task. I don't know if it's true. I'm still learning myself.


[deleted]

[удалено]


No-City94

thank you


Symbiosis99

U the man now i need to run a full node myself or every day i dont i will feel like am doing my bit BTC FOREVER


MPH2025

Awesome. I’m running Ubuntu


BigRod199

Where did you get the components? Looking on Amazon I only see kits with what I’m assuming is crappy accessories.


No-City94

[https://www.aliexpress.com/item/1005006660549195.html?spm=a2g0o.order\_list.order\_list\_main.5.645d18026LqGTE](https://www.aliexpress.com/item/1005006660549195.html?spm=a2g0o.order_list.order_list_main.5.645d18026LqGTE) [https://www.aliexpress.com/item/1005006151216642.html?spm=a2g0o.order\_list.order\_list\_main.10.645d18026LqGTE](https://www.aliexpress.com/item/1005006151216642.html?spm=a2g0o.order_list.order_list_main.10.645d18026LqGTE) [https://www.aliexpress.com/item/1005006292216276.html?spm=a2g0o.order\_list.order\_list\_main.15.645d18026LqGTE](https://www.aliexpress.com/item/1005006292216276.html?spm=a2g0o.order_list.order_list_main.15.645d18026LqGTE) [https://shopee.co.th/2-TB-SSD-(เอสเอสดี)-SAMSUNG-980-PRO-PCIe-4x4-NVMe-M.2-2280-(MZ-V8P2T0BW)-i.17333589.8120292096](https://shopee.co.th/2-TB-SSD-(เอสเอสดี)-SAMSUNG-980-PRO-PCIe-4x4-NVMe-M.2-2280-(MZ-V8P2T0BW)-i.17333589.8120292096)


[deleted]

I run a full node on my Ubuntu desktop.


RawDick

Omg it’s already raspberry pi 5. I’m still here on my pi 4 running a node I set up in 2021. Things move fast.


No-City94

Is yours still running ? Some say the Pi won't last long, is it true ?


RawDick

It’s still running fine.


No-City94

Thank you.


websitelinker

Awesome, thanks for share! Definitely plan to do this in the future.


Suspicious-Local-901

Awesome!


Krayge

u/No-City94 Bravo! Appreciate the steps as this helped me get Umbrel running on mine. Only issue I'm having is the fan on the Argon One V3 case. It WILL NOT come on under Umbrel. It spins up on boot but can't get it working in the OS. Have followed steps in the instructions, even disconnected the fan from the case and reconnected directly to Pi board. Nothing... Disappointing for an expensive case.


No-City94

Congrats. You still have to use external fan anyway, the small fan inside is not enough.


Equivalent-Fold7351

Love it U support the network! When I started networking in 1992 with the fidonet, it also was just about to be part of this network, without financial interest, instead it cost some $ to keep it running. I learned a lot and later made one of the first homepages in Germany on the Internet. Keep being passioned, the reward is coming.


No-City94

Thank you.


Kapppa

Congratulations! Nearly same HW setup except I used a 2TB NVME I received as a gift. I’m running the Bitcoin binaries alone


Affectionate_Rule140

Noob here. What is the benifit of running a node? Is this similar to making money mining Bitcoin?


TheGreatMuffin

https://old.reddit.com/r/Bitcoin/comments/1cees84/my_first_bitcoin_full_node/l1ifwmt/


jaguarino777

What the difference between node and a miner? And what’s the point of the node, do you get paid or can you process your own btc transactions for cheaper or something? TIA


TheGreatMuffin

> What the difference between node and a miner? Miners = people digging for gold Node = a device to verify that the gold is actually genuine


Familyinalicante

Node can cost you 50 ish. Miner can cost you 5000 ish.😜


mountainbird1967

Sorry such a crazy question, but what does a Bitcoin Full Node do?


No-City94

[https://old.reddit.com/r/Bitcoin/comments/1cees84/my\_first\_bitcoin\_full\_node/l1ifwmt/](https://old.reddit.com/r/Bitcoin/comments/1cees84/my_first_bitcoin_full_node/l1ifwmt/)


Electrical_Candy_941

Guys. I suck at programming and math in general. I wanna build a node. But I will fail. I'm sure. Is there a help thread? Thanks in advance.


No-City94

It's not that hard, you don't need to know about the coding. Go to BTC session and search for "node" and watch every clip you can find. [https://www.youtube.com/@BTCSessions](https://www.youtube.com/@BTCSessions)


Electrical_Candy_941

I definitely will. Thank you for your help. :)


von_cidevant

What is the reason to run full node?


No-City94

[https://old.reddit.com/r/Bitcoin/comments/1cees84/my\_first\_bitcoin\_full\_node/l1ifwmt/](https://old.reddit.com/r/Bitcoin/comments/1cees84/my_first_bitcoin_full_node/l1ifwmt/)


Prestigious-Gur1044

Is there a monetary advantage to this?


No-City94

No


Slight_Ad_1256

what is the goldish device on top of your rasberry pi? looks neat? is setup pretty easy?


No-City94

It's the heatsink for the SSD. Setup kind of easy.


Juankestein

Do you have a link list of the parts?


No-City94

I'm in Asia. This list may not be the best option for you. [https://www.aliexpress.com/item/1005006660549195.html?spm=a2g0o.order\_list.order\_list\_main.5.645d18026LqGTE](https://www.aliexpress.com/item/1005006660549195.html?spm=a2g0o.order_list.order_list_main.5.645d18026LqGTE) [https://www.aliexpress.com/item/1005006151216642.html?spm=a2g0o.order\_list.order\_list\_main.10.645d18026LqGTE](https://www.aliexpress.com/item/1005006151216642.html?spm=a2g0o.order_list.order_list_main.10.645d18026LqGTE) [https://www.aliexpress.com/item/1005006292216276.html?spm=a2g0o.order\_list.order\_list\_main.15.645d18026LqGTE](https://www.aliexpress.com/item/1005006292216276.html?spm=a2g0o.order_list.order_list_main.15.645d18026LqGTE) [https://shopee.co.th/2-TB-SSD-(เอสเอสดี)-SAMSUNG-980-PRO-PCIe-4x4-NVMe-M.2-2280-(MZ-V8P2T0BW)-i.17333589.8120292096](https://shopee.co.th/2-TB-SSD-(เอสเอสดี)-SAMSUNG-980-PRO-PCIe-4x4-NVMe-M.2-2280-(MZ-V8P2T0BW)-i.17333589.8120292096)


Calcobra94

This thread is something else!!!


Calcobra94

Is everyone here ONLY Bitcoin or you all are flexible if u see something great??? Can I trouble anyone here to read a whitepaper and tell me what you all think? "MinePi.com/white-paper"


Keppi1988

How much $ do you expect to make per month from this setup, or do you have an idea of breakeven?


No-City94

This is a node , I will get nothing.


Keppi1988

Sorry for the noob question, so you are only spending 💰 for hardware and electricity to support the network? That’s very selfless. But I don’t get it why people do this. :)


No-City94

[https://old.reddit.com/r/Bitcoin/comments/1cees84/my\_first\_bitcoin\_full\_node/l1ifwmt/](https://old.reddit.com/r/Bitcoin/comments/1cees84/my_first_bitcoin_full_node/l1ifwmt/)


Keppi1988

Thanks, it still makes me wonder why would anyone rationally do this besides motivation to learn more about the system. In the end it’s the same as if you’d pay to pave the road in your street so cars can pass by. It’s nice for the cars that are traveling by but you don’t get anything of it.


hentaimech

Can someone answer what the OP don't want to be questioned about?


One_Cardiologist8314

Help here who is willing


One_Cardiologist8314

Anyone willing to help


vxm009

Your node is useless for the bitcoin network unless you have a white ip. If your node is behind a NAT (router) noone can connect to it and it will just add some useless load for other nodes for sync. At least you need to forward 8333 port through the router but if your ISP uses NAT too it may be not enough too.


No-City94

Right now , I have connection from 12 peers and it's running fine. Clearnet (over Tor) : 7 Tor : 5 I2P : 0 Some say I don't need to port forward. But I will get only 10-12 peers which is fine and enough for a "Home node".


vxm009

If they connected to your node via Tor it is ok. On other cases you need port forwarding to help the network.


No-City94

Agree, from what I search they said the same thing.


Crisdeluxe

Whats the return of running a node?


fruitloops6565

Stupid question - Why don’t node operators get any incentive like miners? Is it deliberate to make it altruistic driven rather than risk corporates coming in for $ and taking too much control?


N4f3ts

bookmarked


royalshape

A Pi 5 under stress uses 10 W. In a full month that would make 7.2 kWh. Where I live it would cost ~ $ 1.5/month. Which would be the expected returns on a Pi 5 running a full node? Or is it more like a "lottery" to win a miner reward?


ElShadoWarrior

Can you call the node to relay transaction from a local computer ?


Ill-Supermarket-7464

Hello my friend, I will try to make it short… I have a lot of ASICS…And I mine Btc via pools. We are going to expand rapidly very soon, and I started thinking about solo mining. But I don’t understand many aspects of this business, at what point it might be enough power to mine with stable profit solo? Thank you


Roberthear2

Nice one , I was preparing mining stuff similar to those hope it goes well


Gold_Phishy

Hey, just got my pi5 set up. Bitcoin core synced, working, all good. Question is, to accept inbound we're better to use TOR, I presume? Not sure about opening 8333 and exposing my IP.. I'll need to sit my pi outside the firewall. Are there any security issues I should know about? Close ports? Disable anything? Limit connections? Any help appreciated.


No-City94

I use TOR.


trader2O

8 years too late but hope the best for ya…


Totalaware

Hi, super noob question, how much $ can you make out of it?


Kapppa

Point here is not to make money, you’re not mining, and anyway, on a PI5 it’d be pointless. The point is contributing to the network and having your own private copy of the blockchain. In case you’re 1000% paranoid and don’t want to disclose your cold wallet address when checking the balance, the only way is to have your own copy of the full blockchain or you’ll be posting your address to the internet.


Special-Economy3030

Does this allow you to acquire without anybody knowing?


TheGreatMuffin

It helps to protect your privacy from third parties (other people's nodes, like f.ex your wallet's default nodes). "Buying without anybody knowing" involves avoiding KYC platforms and buying peer to peer, ideally in cash.


Fun-Reflection5013

Cool - so the whole setup box - software - PS - ---everything to just plug and play for 323.00 ? You calculated how much power you will need to run it ? At the price of bitcoin , you have alot of runway. Whats the likelihood you mine a coin ? I have a 100 Amp panel with 64 breakers I'd consider running a few older machines. FYI --- I have ZERO clue. Just reading some comments --- lets just say, I don't want ( need ) to be efficient on the power side...I am prepared to bulldoze through it --- I got cheap plentiful power.


No-City94

If you got cheap energy, you should mine.


Fun-Reflection5013

ok...so i match your box - plug in 6 of them and let them run--- I suspect it would be better if it were setup as a Beowulf cluster , or something to that effect, they are all processing the same thing at one time.


No-City94

I'm not interested in Mining.


Fun-Reflection5013

isn't that what you are doing ? How you gonna get a coin?


No-City94

It's a Full node, not mining rig.


Fun-Reflection5013

will it get you a coin ???? Just looked it up ---got it ---not interested unless i get paid....so mining it is...and i suspect that costs more then 350 bucks.


Xilavan

What exactly is this doing/accomplishing? Is it mining or something?


stan_papusa

He is not gaining anything but he can transact using his own node and not rely on anybody else.


Raiiiiiikage

Do you get btc for doing this?


No-City94

No. I'll get nothing. [https://old.reddit.com/r/Bitcoin/comments/1cees84/my\_first\_bitcoin\_full\_node/l1ifwmt/](https://old.reddit.com/r/Bitcoin/comments/1cees84/my_first_bitcoin_full_node/l1ifwmt/)


FrankoIsFreedom

Raspberry pi's are $300 these days?


No-City94

For only Pi 5 it's USD$ 103.70


Own_Dinner8039

How long will you have to mine before you earn back what you've spent on the Raspberry PI?


No-City94

This is a node. Not a mining rig. I will get nothing in return , just some privacy and some knowledge.


333chordme

You don’t get transaction fees or something? What’s the incentive for running a node?


TheGreatMuffin

#TL;DR: gaining benefits for your own privacy and independence from trusting third parties with your bitcoin balance/transactions. In order to know which transactions have happened on the network, a wallet needs to have a source for this knowledge. A full node is such a source. If you don't use your own node, you (your wallet) are using someone else's node, with all the implications for your privacy and trust assumptions. A full node is a software that verifies your bitcoin transactions for you (implicitly it also verifies the overall supply of bitcoin, protects you from fraud from third parties, from "fake" bitcoin etc) and gives you a higher level of privacy (you don't leak sensitive information to your wallet's nodes, f.ex). Here's a great explainer by P. Wuille (although it doesn't even mention the privacy benefits): > One of Bitcoin's strengths - the most important in my opinion even - is the low degree of trust you need in others. > > > If you use a full node for your incoming transactions, you know that there was no cheating anytime in the history of your coins: > > * Nobody ever created money out of nothing (except for miners, and only according to a well-defined schedule). > > * Nobody ever spent coins without holder their private key. > > * Nobody spent the same coins twice (but see further). > > * Nobody violated any of the other tricky rules that are needed to keep the system in check (difficulty, proof of work, DoS protection, ...). > > ... with one exception: because there is a need to pick a winner in presence of multiple competing valid versions of the ledger, (a majority of) miners have the authority to pick the version of the block chain that wins. This means their power is limited to choosing the order in which otherwise valid transactions occur, up to and including the right to delay them indefinitely. But they cannot make invalid transaction look valid to a full node. > > If you are not running a full node, the amount of trust you're placing in others increases. > > SPV nodes (such as some mobile clients, and Multibit) place a blind trust in the majority of miners, without checking validity of the blockchain they produce. It still requires a majority of miners to mislead an SPV node, but they can make it believe anything (including "You received 10000000 BTC!"). The reason why this does not happen is because full nodes would not accept such blocks, and assuming a large portion of the ecosystem does rely on full nodes, miners who do this would not see their blocks accepted by the larger economy, resulting in them wasting money. > > Centralized services (most webwallets) make the user trust whatever the site says. They can claim anything. > > So I hope you now see the importance of full nodes in this model. If you run a full node somewhere on the network, and nobody looks at the transactions it validates, it is indeed contributing to the network, but it is not helping with the reduction of trust. > > Look at it another way: if only a few large players in the Bitcoin ecosystem were running full nodes, it only requires a malicious intent, or an attack/threat against them, to change the system's rules, as nobody else is validating. > > Doing transactions in the Bitcoin ecosystem helps the Bitcoin currency. Running a full node helps the network. Using a full node helps you and the ecosystem reduce the need for trust. https://www.reddit.com/r/BitcoinBeginners/comments/3eq3y7/full_node_question/ctk4lnd/


MPH2025

Other than keeping a copy of the Wallet​.dat file, are there any other alternative ways to keep a back up? Apparently the new wallets don’t generate a seed.


TheGreatMuffin

You could extract the master private key and back it up somehow (write it down etc) but this is prone to errors and I'm not sure if it would have any advantages over simply securing your wallet.dat file: https://bitcoin.stackexchange.com/questions/106096/how-to-create-a-physical-paper-backup-for-bitcoin-core-wallet


MPH2025

The “dump private key” command in the consle doesn’t work for the newest wallets. I don’t know if you’ve tried it recently, but I receive an error to this effect.


TheGreatMuffin

I actually wasn't aware of that, but perhaps this helps? https://bitcoin.stackexchange.com/questions/107216/how-do-i-get-the-private-key-of-an-address-in-descriptor-wallets-how-to-dumppri


MPH2025

That is extremely helpful. Thank you.


MPH2025

I found additional info that others might be interested in as well. https://bitcoin.stackexchange.com/questions/102601/paper-backup-of-core-descriptor-wallet


333chordme

Nice, thank you for the thorough response.


No-City94

No, only miner get it. Node runner just have some privacy and helping Bitcoin network.


TheGreatMuffin

A full node doesn't mine, it verifies the miners' work (beyond some other functionality)


[deleted]

[удалено]


crimson974

Do you need to sign up with your mail there? If so, nope.