Topic: A new idea for node reward (Read 1121 times)

Your example is ... , and assumes that

IF it's succesfully out of beta,

and accepted by the mainstream.

But IF it stays as a niche for Bitcoiners, then yes.

adding soap to your shower thought, to clean up things

imagine an average payment was for a coffee($3) and the routing fee was 1millisat per channel
(yea most users route hopping would end up paying 10 millisats to hop through 10 channels(degree of separation math))
(but where each channel on the route only charges 1millisat)

well for your channel to hop enough payments to make 20cents (0.00004btc) is the difference of
0.00000000001
vs
0.00004000000

so although your gonna try getting the counterpart to pay the onchain CLOSE channel fee. the channel will need to consist of
4000000*$3 to make 4000000 payment to make 20cents just to pay for YOUR initial 20cent channel OPEN cost

$12m channel value your counterpart needs to pass to you for you to claim 1 millisat per payment just to get a break even for just opening a channel at todays onchain fee 20cents.
... think about that

It was more like a shower thought idea, than a definite solution to incentivize existing/running nodes. Maintaining a full node 24/7/365 has costs, especially on bandwidth. At least there's an idea of incentivizing them, than none, if the Lightning Network scales.

I get the point, but IMO it sounds like incentive to keep existing node running rather than incentive to run full nodes.
Additionally, unless your LN node have routing path/directly connected to lots of other LN nodes, i doubt you'd get sufficient income/reward.

To install and run an LN node, you would also need to install bitcoind, unless you're using something like Neutrino. But if you are already maintaining a 24/7 full node, then you can install and run a Lightning node with it and charge for routing fees.

Then it's incentive to run LN nodes, not Bitcoin full nodes since your LN client could act as SPV client and connect to another full nodes (whether it's owned by your or other user).

This has been discussed many times and majority disagree with the idea of rewarding those who run full nodes with Bitcoin.

There are many flaws on your idea, but the biggest question are how to verify someone actually run full nodes and how to prevent people from run multiple run full nodes just to earn more Bitcoin?
If you can't solve both question, then you should forget your idea.

IMHO, lower full nodes count is better than high full nodes count, but those who run it only care about profit.

I agree masternode is the best approach if we want to reward those who run full nodes, but i feel like we'll turn Bitcoin into PoS (i don't say PoS is bad thing).
Forcing declaration IP / Port on transaction isn't bad idea, but this will limit rewarding to those with static IP while most cheap ISP only offer dynamic IP.
But i'll do more research on masternode and see how viable is this idea, even though i doubt Bitcoin will change to this approach.

P.S. may i get link/article of PoCo?

Currently, there are  9722 bitcoin nodes. It seems as if this number has increased which is good since the bitcoin value depends on the number of nodes according to metcalfe’s law. There are other benefits as well.

An idea struck me the other day, a new idea for full node rewards. I suggest a kind of lottery. It wouldn’t matter what kind of hardware you use, a raspberry pi would qualify as long as it runs a full node.

Here’s my idea:

When a block is added, the full node would use the hash, combine it with the node’s ip address and calculate a new hash. If the new hash has some kind of special property like a certain number of 0’s in the hash, then you submit the result and a send to address to the miner and get a portion of the miner reward. You have to respond within a certain time. If there’s more than one winner, the reward should be split.

It would be in the spirit of mining which can be seen as a lottery, the higher the hash rate, the more lottery tickets.

The reward should be high enough and frequent enough to attract people to run full nodes. Let’s say that you should have a 50% chance of earning enough bitcoins to buy a pizza every month.

I thin this idea would really increase the node count. Now you have a situation where there are more people with bitcoins that they want to spend. Therefore, pizza bakers and other people that have shops would be more willing to accept bitcoins. Once you have bitcoins, albeit very little, you are more likely to buy bitcoins. That would have an impact the exchange rate. Miners wouldn’t mind since they understand metcalfe’s law. They would occasionally lose a portion of te reward and/or the transaction fee but they would expect a higher exchange rate that would make up for the loss.

I think it’s reasonably simple to implement. You have to combine block data and the ip address so that there can only be a limited number of winners for every new block, otherwise there would be congestion. A new kind of message is needed. Since the ip address is known by all, it would be difficult to cheat, i.e. try all possible combinations in order to claim that you have a winning ticket.

Someone has to do the math in order to come up with an algorithm. I think it should be easy, just calculate a new hash and see if it has some peculiar quality that makes it a winner. Maybe there’s a need to distinguish between trusted blocks and those that are not.

What do you think about this idea?