Why Nayib Bukele not just install all the devices at one place and run it? setting up every device at every home is really not effective and efficient, if the device broken, they need to take care each of them and who gonna pay the electricity bills? the idea isn't viable IMO.
It's better for them to strengthening their wallet because in the last year their wallet were hacked.
Topic: Bitcoin node at every home - page 2. (Read 367 times)
I feel jealous about what's happening in El Salvador in terms of Bitcoin growth. While it could be taxing forcing this to happen for every household but the benefits are there if they will look at the brighter side of it. The reason is true, this makes every single person in there to participate in the Bitcoin community and economy. This forces them to learn many aspects that are circulating with Bitcoin from nodes, to markets, to trading, to mining and understanding volatility and the security part of the Bitcoin network, etc.
I don't think that all those 1,530,000 households should they really install nodes will add too much to degree of Bitcoin decentralization as the latter implies that nodes should be also dispersed over the whole world rather than be placed at geographically narrow area. El Salvador is too small country.
Agree & disagree.
Agree that nodes should be more spread throughout the world rather than just being centralized in one area, because if a blackout occurs there it will turn off all decentralized power in that area. Disagree because according to theory the greater the number of units running nodes, the higher the level of decentralization of a network.
El Salvador's move may sound strange and has been widely criticized, but I believe this is the beginning of progress for the country, both in the early stages of building a great economy and will also provide prosperity for its citizens. I wonder why so many people criticize this, even though El Salvador has previously provided evidence by gaining prosperity from Bitcoin. And, not only from the government side but also its citizens have received many good impacts, one of which I read was news about a taxi driver in the country getting benefits and becoming rich because of the El Salvador Government Policy which allows crypto or precisely Bitcoin to be a legal means of payment.
Reference : Watcher - Bitcoin Turns Taxi Driver into Entrepreneur
Reference : Watcher - Bitcoin Turns Taxi Driver into Entrepreneur
People seek clarity as much as change. The whole idea of a node in every house is both radical and confusing. Nodes build the network, but do they increase household incomes? Maybe yes, maybe no. Though the actual issue is "who benefits," right now it's a glitzy scheme that could increase crypto consumption. Is our goal expanding El Salvador's reputation as a crypto hub or helping regular people?
Education, support, and user-friendly interfaces have to be part of this puzzle. It makes little sense to expose advanced technologies to people who might never experience actual benefit. Here is where legislators either leave their people wondering or accomplish something amazing: integrating decentralization into daily life. I see potential for everyday folks to sidestep traditional banking fees, maybe own their finances, maybe break free from middlemen. If there is no actual plan, though, it will turn into yet another half-finished project like that metropolis close to the volcano. Real actions must accompany bitcoin acceptance or it is to stay a headline with little influence
Education, support, and user-friendly interfaces have to be part of this puzzle. It makes little sense to expose advanced technologies to people who might never experience actual benefit. Here is where legislators either leave their people wondering or accomplish something amazing: integrating decentralization into daily life. I see potential for everyday folks to sidestep traditional banking fees, maybe own their finances, maybe break free from middlemen. If there is no actual plan, though, it will turn into yet another half-finished project like that metropolis close to the volcano. Real actions must accompany bitcoin acceptance or it is to stay a headline with little influence
This will add more decentralization level for Bitcoin network,
I don't think that all those 1,530,000 households should they really install nodes will add too much to degree of Bitcoin decentralization as the latter implies that nodes should be also dispersed over the whole world rather than be placed at geographically narrow area. El Salvador is too small country.
Good news for the Bitcoin community, I also saw this news on TCR. This will add more decentralization level for Bitcoin network, according to Helgi Library data, as of 2020 there were around 1,530,000 households in El Salvador, which means the addition of 1,530,000 Bitcoin nodes regardless of whether this becomes a necessity or not, but I agree with @apogio's opinion that this it will just be voluntary, because that sounds more reasonable.
Source:
1. https://www.thecoinrepublic.com/2025/01/15/el-salvador-plans-bitcoin-nodes-in-every-home-bold-move-or-illusion
2. https://www.helgilibrary.com/indicators/number-of-households/el-salvador
Source:
1. https://www.thecoinrepublic.com/2025/01/15/el-salvador-plans-bitcoin-nodes-in-every-home-bold-move-or-illusion
2. https://www.helgilibrary.com/indicators/number-of-households/el-salvador
I just saw in a news on Telegram that President Nayib Bukele of El Salvador just announced plans to set up a Bitcoin node in every home.
El Salvador under Bukele does take bitcoin adoption to next level. Now part of daily life, what a bold declaration.
It is only a noisy plan from him, to catch more attention from the world to El Salvador.El Salvador under Bukele does take bitcoin adoption to next level. Now part of daily life, what a bold declaration.
Bitcoin network needs more hashrate from Bitcoin miners and more Bitcoin nodes from both Bitcoin mining pools, Bitcoin miners, and Bitcoin users. If people understand helpfulness of a Bitcoin full node, they will run their own full node.
Guides to run a Bitcoin full node are needed.
[Guide] How to run a Bitcoin Core full node for under 50 bucks!
Asking, Don't you require electricity to run a node? Asking about profits is not actually bad specifically for those who do not tolerate Bitcoin, sure there are critics and those who wouldn't even with profits attempt to run nodes.
I assume that it won't be mandatory, but rather voluntary. I suppose the government will pay for the instalment.
Yes, the nodes require electricity, but depending on the hardware (of course), the cost of an average node is not easily noticeable on the electricity bill.
Is it a mandatory offer or basically optional?
It's a great move from the government, if majority countries can take steps like this, i believe it will be easier for investors and the community, the more privacy and decentralized we can become.
It doesn't have to bring profit.
It literally costs nothing to run a node, but it's super important for all of us. Essentially nodes are for Bitcoin, what lungs are for the human body. Vitally important!
Asking, Don't you require electricity to run a node? Asking about profits is not actually bad specifically for those who do not tolerate Bitcoin, sure there are critics and those who wouldn't even with profits attempt to run nodes.
It's a great move from the government, if majority countries can take steps like this, i believe it will be easier for investors and the community, the more privacy and decentralized we can become.
Now setting up bitcoin node at every home in El-Salvador is another bold move I would say. Because that wouldn't bring in any profit to its citizens. There's no revenue from the node. So I am sure this decision is also going to be highly criticized.
It doesn't have to bring profit.
It literally costs nothing to run a node, but it's super important for all of us. Essentially nodes are for Bitcoin, what lungs are for the human body. Vitally important!
Now setting up bitcoin node at every home in El-Salvador is another bold move I would say. Because that wouldn't bring in any profit to its citizens. There's no revenue from the node. So I am sure this decision is also going to be highly criticized.
It doesn't have to bring profit.
It literally costs nothing to run a node, but it's super important for all of us. Essentially nodes are for Bitcoin, what lungs are for the human body. Vitally important!
El-Salvador is moving towards the goal. Kuddos to that! It was fairly criticized by their own citizens at the beginning but if we look at it now, it was a great decision!
Now setting up bitcoin node at every home in El-Salvador is another bold move I would say. Because that wouldn't bring in any profit to its citizens. There's no revenue from the node. So I am sure this decision is also going to be highly criticized.
Now setting up bitcoin node at every home in El-Salvador is another bold move I would say. Because that wouldn't bring in any profit to its citizens. There's no revenue from the node. So I am sure this decision is also going to be highly criticized.
I just saw in a news on Telegram that President Nayib Bukele of El Salvador just announced plans to set up a Bitcoin node in every home.
El Salvador under Bukele does take bitcoin adoption to next level. Now part of daily life, what a bold declaration.
El Salvador has already made significant strides in Bitcoin adoption, from making it a legal tender to systematically purchasing Bitcoin to reduce national debt. With favourable regulations and crypto friendly policies the country has positioned itself as home to crypto firms like Bitfinex and Tether recently announcing moving in.
By decentralizing financial services, El Salvador hopes to reduce its reliance on centralized financial institutions and foster economic autonomy among its citizens.
This move is a very bold one as the country continues to push the boundaries of bitcoin adoption, it will be interesting to see how this initiative unfolds and what impact it will have on the global crypto economy.
It’s just a declaration until it is done! We are still waiting for the bitcoin city at the base of the conchagua volcano.
El Salvador under Bukele does take bitcoin adoption to next level. Now part of daily life, what a bold declaration.
Quote
Building this infrastructure will not only strengthen Bitcoin’s decentralized network but also let citizens actively participate in the global crypto economy. We’re witnessing the blockchain becoming a key part of the country’s economy.
El Salvador has already made significant strides in Bitcoin adoption, from making it a legal tender to systematically purchasing Bitcoin to reduce national debt. With favourable regulations and crypto friendly policies the country has positioned itself as home to crypto firms like Bitfinex and Tether recently announcing moving in.
By decentralizing financial services, El Salvador hopes to reduce its reliance on centralized financial institutions and foster economic autonomy among its citizens.
This move is a very bold one as the country continues to push the boundaries of bitcoin adoption, it will be interesting to see how this initiative unfolds and what impact it will have on the global crypto economy.
It’s just a declaration until it is done! We are still waiting for the bitcoin city at the base of the conchagua volcano.
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