10 Reasons Why You Should Run Your Own Bitcoin Full Node

dezoel

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Quote from: Despairo on June 20, 2023, 12:16:35 AM

The funny thing is most people are still leaving their coins on a centralized exchange, hoping people to run full node is completely impossible. The reason is they don't want to pay extra fees, downloading a lot data, waiting their wallet to sync, they not only hold Bitcoin etc.

Changing people view as become your own bank is really hard task because people still rely with centralization and only use Bitcoin due to making profit.

It's not a funny thing but it was only their choice. Running our own Bitcoin full node seems not easy as it sounds, that is the reason why. And many of us are just casual users. We are only here to trade or to invest. We are not some kind of a computer geek who loves to dive in the technical side of a software. In crypto, there are two types of exchanges. One is already given or called centralized exchange. And the other is called decentralized exchange.

It's much safer because we control our own funds here but despite of that, there are still lots of people who prefer a CEX over DEX, maybe because CEX still has other features to offer.

Findingnemo

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Quote from: joniboini on June 22, 2023, 08:26:15 PM

Quote from: Findingnemo on June 21, 2023, 08:19:02 AM

It's not really necessary, imagine telling a newbie to download the Bitcoin core and sync the entire blockchain data which needs super fast internet connection, decent spec device and lots of storage which seems why I need to do this to buy or sell $100 worth of BTC? It will be too complicated for them and may be a con for the Bitcoin itself if we expect everyone to run their own full node.

I believe the target of the article is someone already familiar with the Bitcoin network to some extent (OP mentions privacy, etc). It would be counterproductive to recommend it to someone new, who only wants to use Bitcoin to pay something once in a while. I don't think OP expect people to recommend newbies as their first step in their crypto journey either.

I am not sure that he meant only for experienced because it's seems the title of topic says your which denotes everyone IMO.

I am a trader and long term holder so in that case why should I have to run the full node, I simply prefer the light weight wallet for activities related to trading and hardware or paper wallet is more safe when we are talking about hacks.

joniboini

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Quote from: Findingnemo on June 21, 2023, 08:19:02 AM

It's not really necessary, imagine telling a newbie to download the Bitcoin core and sync the entire blockchain data which needs super fast internet connection, decent spec device and lots of storage which seems why I need to do this to buy or sell $100 worth of BTC? It will be too complicated for them and may be a con for the Bitcoin itself if we expect everyone to run their own full node.

I believe the target of the article is someone already familiar with the Bitcoin network to some extent (OP mentions privacy, etc). It would be counterproductive to recommend it to someone new, who only wants to use Bitcoin to pay something once in a while. I don't think OP expect people to recommend newbies as their first step in their crypto journey either.

Quote from: https://bitcoin-takeover.com/10-reasons-you-should-run-your-own-bitcoin-full-node/

Reason #5
It keeps you away from hacks and scams, and it comes with no service restrictions.

I also believe OP needs to be clear about this. For example, what kind of hacks are you referring to? Hackers can still implant a keylogger whether you run a full node or not. Some readers usually take anything at face value, it would be a bad idea if some people believe running a full node provide some kind of immunity without setting up any security rules properly. CMIIW.

Findingnemo

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Bitcoin = Financial freedom

It's not really necessary, imagine telling a newbie to download the Bitcoin core and sync the entire blockchain data which needs super fast internet connection, decent spec device and lots of storage which seems why I need to do this to buy or sell $100 worth of BTC? It will be too complicated for them and may be a con for the Bitcoin itself if we expect everyone to run their own full node.

Let's decide what is their choice depends on their needs and for most users light weight wallets which is non custodial and open source is enough.

ImThour

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Did you literally generated Cyberpunk retro theme Bitcoin images for the article which says "10 reasons why you should run your own node". I mean it's contradictory however those images are very cool. Just compiling all the 10 Reasons OP mentioned to save a click for you guys ->

Reason #1: A Full Node Gives You Control Over Verification
Reason #2: A Full Bitcoin Node Gives You Better Privacy
Reason #3: A Full Node Contributes To Bitcoin’s Decentralization
Reason #4: A Full Node Keeps Its Own Mempool
Reason #5: Full Sovereignty!
Reason #6: Your Node, Your Rules
Reason #7: Full Nodes Are Secure
Reason #8: Running Your Own Bitcoin Full Node Is Educational
Reason #9: Your Full Node Is Financial Inclusion
Reason #10: Your Node Preserves Bitcoin’s Censorship Resistance

MusaMohamed

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Quote from: Vlad BTCTKVR on June 19, 2023, 09:37:48 PM

I wrote an article about the virtues of running your own Bitcoin full node.

You wrote a great article to educate people about Bitcoin full node and its helpfulness for people who use it but I suggest you to add information from
[Guide] How to run a Bitcoin Core full node for under 50 bucks!.

It will help many people to change their wrong thinking that they must have very expensive hardware devices to run a Bitcoin full node.

Vlad BTCTKVR

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Quote from: avikz on June 20, 2023, 12:33:26 AM

Quote from: Vlad BTCTKVR on June 19, 2023, 09:37:48 PM

Hi guys!

I wrote an article about the virtues of running your own Bitcoin full node. Hope you're going to like it, I look forward to your feedback!

PS: for some reason, it seems like the images (which took me a couple of hours to generate and edit) are not loading. I'll look into possible fixes. Otherwise, the text is in good shape and I stand by every word 🫡

https://bitcoin-takeover.com/10-reasons-you-should-run-your-own-bitcoin-full-node/

The images are awesome! Which engine you have used to generate them?

Your points are well made. However, I don't think a lot of people will be interested in running a full scale node operation unless there is some financial reward. I understand that it doesn't require a super high-configuration system to run the node, but there is a cost associated. Unless the nod operators are able to recover that cost, it makes little sense to run a node. People are not willing to do charity. So this was something to look at while creating the bitcoin.

Thank you! I've used Midjourney to generate the images, with prompts which contain the words "computers in a cyberpunk world". Then I did a little color correction and added the Bitcoin logos all over.

I hope that more people will care about privacy and verification. Leaking your xpub to somebody else's node is not ideal. Neither is trusting in a third party server that displays your balance.

NotATether

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Quote from: spectre71 on June 20, 2023, 11:31:47 AM

Lightning node maybe, can make some money.

To make money on Lightning, you must commit some money to the protocol first. It is similar to ETH validation staking except that your funds are going inside channels which you can then spend, and presumably if you are connecting channels together for other people (which is how you actually make money running LN), then you will get a small fee for routing the transaction.

spectre71

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I thought about doing it for the geek factor alone. If I already had internet facing servers I could piggyback on, sure. But to build something gratis, naw. I'll pass.

Lightning node maybe, can make some money.

BVeyron

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Quote from: Vlad BTCTKVR on June 19, 2023, 09:37:48 PM

Hi guys!

I wrote an article about the virtues of running your own Bitcoin full node. Hope you're going to like it, I look forward to your feedback!

PS: for some reason, it seems like the images (which took me a couple of hours to generate and edit) are not loading. I'll look into possible fixes. Otherwise, the text is in good shape and I stand by every word 🫡

https://bitcoin-takeover.com/10-reasons-you-should-run-your-own-bitcoin-full-node/

Having a full node is a good thing! Also, mining facility is a great thing. Unfortunately, now there is no profit out of mining with non-specific devices, but having a node is anyway a benefit! I think that in some time many people will have the full node.

NotATether

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You have a few formatting erros inside your article as some headers are rendering as normal text. But images are indeed loading fine.

#6 "Your node, your rules" is really only applicable to developers though. Even though bitcoind exports a couple of parameters you can tweak around that change the limits of various parameters, changing other kinds of settings or rejecting particular types of transactions requires you to make changes to your downloaded codebase.

Z390

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The contribution to the decentralization of Bitcoin makes more sense to me than others, I like running Nodes of other projects because of the profits you make off them but it's not the same with Bitcoin, I prefer to bit my Bitcoin and move them into a popular Bitcoin wallet, running a Node is a stress that I don't want to go into because I can't make money off running Bitcoin Node, correct me if I am wrong but the contribution makes sense if you can run Bitcoin Node, so there for I won't advice anyone to avoid running Bitcoin Node, if it's interesting to you then go for it, but it's not for everyone.

348Judah

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Quote from: Despairo on June 20, 2023, 12:16:35 AM

The funny thing is most people are still leaving their coins on a centralized exchange

Not anymore as before, seing the present experience they are having with the government regulations and how fear has gripped the heart of many users of centralized exchanges, if you're current with the recently news, you will discover a drop on the rate of investors using centralized exchange, also the highest numbers of the whales are having their bitcoin on non custodial wallet.

Quote from: Despairo on June 20, 2023, 12:16:35 AM

hoping people to run full node is completely impossible.

It's possible, everyone may actually not get used to that but many would have preferred that while some will choose the use of other means of using a cold storage for their bitcoin, but the interesting oart of this information is that some will see this and take action right away.

Quote from: Despairo on June 20, 2023, 12:16:35 AM

The reason is they don't want to pay extra fees, downloading a lot data, waiting their wallet to sync, they not only hold Bitcoin etc.

I think paying the fee and other requirements needed in running a full node is not the real issue they can have problem with, but the technicality in doing so may be very challenging to users to run a full node.

Quote from: Despairo on June 20, 2023, 12:16:35 AM

Changing people view as become your own bank is really hard task because people still rely with centralization and only use Bitcoin due to making profit.

Not everyone but this can be applied to everyone, some use it as a store of value, assets and even preferred currency to using, I've heard of the story of a man who only make use of bitcoin for making payments daily, that was his own choice, this has been discussed some times ago here on the forum.

franky1

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just to note about your explainer of a full node
this statement

Quote

On the other hand, if a developer tries to push a change or upgrade to the network, it won’t get adopted unless a majority of full nodes agrees to run that new piece of code

is no longer true due to a trick core devs implemented many years ago that no longer requires super majority readiness to then activate a new rule/feature (they changed the default activation mechanisms(by having alot of 'isvalid' bypasses of default: active opcodes that should have been disabled and required super majority to activate them when rules are set to opcode utility))

Outhue

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Quote from: Despairo on June 20, 2023, 12:16:35 AM

The funny thing is most people are still leaving their coins on a centralized exchange, hoping people to run full node is completely impossible. The reason is they don't want to pay extra fees, downloading a lot data, waiting their wallet to sync, they not only hold Bitcoin etc.

Changing people view as become your own bank is really hard task because people still rely with centralization and only use Bitcoin due to making profit.

Are you running a Bitcoin node yourself? Can you drop a picture of your setup? I think it's easier to judge people on this forum without trying to understand some facts about running a Node.

The solution to those leaving their coins on centralized exchanges is not running a Node, it's keep their coins in a hardware wallet or Electrum wallet, if running a Node for them is impossible, it has nothing to do with how or where they keep their coins.

I believe it's not easy to run a full Bitcoin Node for some people, because of power epileptic in their country, them downloading the blockchain data and the power goes off will be frustrating, waiting for the wallet to get full sync is another problem without stable grid power.

Oshosondy

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Quote from: Despairo on June 20, 2023, 12:16:35 AM

The funny thing is most people are still leaving their coins on a centralized exchange, hoping people to run full node is completely impossible. The reason is they don't want to pay extra fees, downloading a lot data, waiting their wallet to sync, they not only hold Bitcoin etc.

Changing people view as become your own bank is really hard task because people still rely with centralization and only use Bitcoin due to making profit.

The article is not for everyone, it is for people that needs full node advantages.

You can use self-custody wallet, I mean noncustodial wallet or self-hosted wallet which will require you not to download the whole blockchain that is gigabyte intensive but just to use central server or servers to connect to blockchain. People should avoid centralized exchanges and centralized wallets.

avikz

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Quote from: Vlad BTCTKVR on June 19, 2023, 09:37:48 PM

Hi guys!

I wrote an article about the virtues of running your own Bitcoin full node. Hope you're going to like it, I look forward to your feedback!

PS: for some reason, it seems like the images (which took me a couple of hours to generate and edit) are not loading. I'll look into possible fixes. Otherwise, the text is in good shape and I stand by every word 🫡

https://bitcoin-takeover.com/10-reasons-you-should-run-your-own-bitcoin-full-node/

The images are awesome! Which engine you have used to generate them?

Your points are well made. However, I don't think a lot of people will be interested in running a full scale node operation unless there is some financial reward. I understand that it doesn't require a super high-configuration system to run the node, but there is a cost associated. Unless the nod operators are able to recover that cost, it makes little sense to run a node. People are not willing to do charity. So this was something to look at while creating the bitcoin.

Despairo

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The funny thing is most people are still leaving their coins on a centralized exchange, hoping people to run full node is completely impossible. The reason is they don't want to pay extra fees, downloading a lot data, waiting their wallet to sync, they not only hold Bitcoin etc.

Changing people view as become your own bank is really hard task because people still rely with centralization and only use Bitcoin due to making profit.

CryptoHeadlineNews

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The images are perfect and likewise, the writeup is perfect too, and I love the fact that you started with a brief introduction of what a "Full node" is all about and you ended with a conclusion titled (Furthermore), but one thing I observed is that you failed to make bold your reason "No 6" and it has no image, and it doesn't make sense since your No 1, 2, 3, 4 & 5 reasons all have images and 6 it ought to have had its own, and likewise same as your No 8 and your No 10, which you only made bold without inserting the necessary image, because it would have been far better if the image used in your concluding part was inserted in either your No 8 or 10, as I don't think it's necessary having an image in a conclusion of an article. So those are the only few edits I think you need to do. Thanks

mk4

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Just a heads up that the photos are loading fine on my side.

Other than that, great content. Unfortunately people wouldn't want to run their own full node unless they have a direct financial incentive to do so (dividends as with some alts, etc).

Vlad BTCTKVR

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Hi guys!

I wrote an article about the virtues of running your own Bitcoin full node. Hope you're going to like it, I look forward to your feedback!

PS: for some reason, it seems like the images (which took me a couple of hours to generate and edit) are not loading. I'll look into possible fixes. Otherwise, the text is in good shape and I stand by every word 🫡

https://bitcoin-takeover.com/10-reasons-you-should-run-your-own-bitcoin-full-node/

Topic: 10 Reasons Why You Should Run Your Own Bitcoin Full Node (Read 227 times)