Can I earn bitcoins by being a bitcoin node that process transactions?

odolvlobo

legendary

Activity: 4522

Merit: 3426

Quote from: achow101 on May 31, 2016, 07:10:32 AM

Quote from: allankey on May 31, 2016, 06:27:24 AM

Quote from: odolvlobo on May 30, 2016, 12:34:39 PM

I predict that one day full-nodes will charge for the information they provide.

The information of the users that were connected to them?
That sounds very sinister.

No. Full nodes provide the entire blockhain and all transactions that they receive and accept. That is the information they provide, not the information if the nodes that connect to them.

Like the internet, permanent full nodes will have peering or transit agreements with other full nodes, but they will also charge SPV nodes and intermittent full nodes for data.

achow101

staff

Activity: 3458

Merit: 6793

Just writing some code

Quote from: allankey on May 31, 2016, 06:27:24 AM

Quote from: odolvlobo on May 30, 2016, 12:34:39 PM

I predict that one day full-nodes will charge for the information they provide.

The information of the users that were connected to them?

That sounds very sinister.

No. Full nodes provide the entire blockhain and all transactions that they receive and accept. That is the information they provide, not the information if the nodes that connect to them.

allankey

newbie

Activity: 55

Merit: 0

Quote from: odolvlobo on May 30, 2016, 12:34:39 PM

I predict that one day full-nodes will charge for the information they provide.

The information of the users that were connected to them?

That sounds very sinister.

odolvlobo

legendary

Activity: 4522

Merit: 3426

I predict that one day full-nodes will charge for the information they provide.

allankey

newbie

Activity: 55

Merit: 0

Quote from: NorrisK on May 30, 2016, 01:25:38 AM

Quote from: allankey on May 29, 2016, 07:53:14 PM

Quote from: odolvlobo on May 29, 2016, 11:13:10 AM

Quote from: allankey on May 29, 2016, 10:04:10 AM

So miners earn the fees, but full nodes get nothing. Okay. A strange concept for me to grasp. lol

The primary purpose of a full node is to protect your bitcoins. If your wallet is not a full node, or is not connected to your full node, then you are relying on somebody else to protect your bitcoins. As a secondary benefit, each additional node also helps to protect the integrity of the network.

Then those who run BTC nodes voluntarily and altruistically deserves our respect.

They should indeed! Especially since it takes up quite a bit of network resources (I remember numbers like 200 GB a month in traffic), some network providers won't be happy with that.

Imo it wouldn't be bad though if nodes got rewarded part of the miner fees. Or maybe implement a set low fee called the network fee (like 1000 satoshi or something) to reward them for running nodes. It might also increase the number of nodes as everybody would want a piece of the pie.

May increase the price of transaction slightly, but if it enhances security, I'm all for it.

Perhaps there should be an appreciation day for them.

NorrisK

legendary

Activity: 1946

Merit: 1007

Quote from: allankey on May 29, 2016, 07:53:14 PM

Quote from: odolvlobo on May 29, 2016, 11:13:10 AM

Quote from: allankey on May 29, 2016, 10:04:10 AM

So miners earn the fees, but full nodes get nothing. Okay. A strange concept for me to grasp. lol

The primary purpose of a full node is to protect your bitcoins. If your wallet is not a full node, or is not connected to your full node, then you are relying on somebody else to protect your bitcoins. As a secondary benefit, each additional node also helps to protect the integrity of the network.

Then those who run BTC nodes voluntarily and altruistically deserves our respect.

They should indeed! Especially since it takes up quite a bit of network resources (I remember numbers like 200 GB a month in traffic), some network providers won't be happy with that.

Imo it wouldn't be bad though if nodes got rewarded part of the miner fees. Or maybe implement a set low fee called the network fee (like 1000 satoshi or something) to reward them for running nodes. It might also increase the number of nodes as everybody would want a piece of the pie.

May increase the price of transaction slightly, but if it enhances security, I'm all for it.

allankey

newbie

Activity: 55

Merit: 0

Quote from: odolvlobo on May 29, 2016, 11:13:10 AM

Quote from: allankey on May 29, 2016, 10:04:10 AM

So miners earn the fees, but full nodes get nothing. Okay. A strange concept for me to grasp. lol

The primary purpose of a full node is to protect your bitcoins. If your wallet is not a full node, or is not connected to your full node, then you are relying on somebody else to protect your bitcoins. As a secondary benefit, each additional node also helps to protect the integrity of the network.

Then those who run BTC nodes voluntarily and altruistically deserves our respect.

Velkro

legendary

Activity: 2296

Merit: 1014

Quote from: odolvlobo on May 29, 2016, 11:13:10 AM

The primary purpose of a full node is to protect your bitcoins.

This one, if you will be invested in bitcoin quite much that would be your responsibility to strenghten the network.
Imagine investing 1 mln $ in bitcoins and not run one full node for example 15$ per month.

odolvlobo

legendary

Activity: 4522

Merit: 3426

Quote from: allankey on May 29, 2016, 10:04:10 AM

So miners earn the fees, but full nodes get nothing. Okay. A strange concept for me to grasp. lol

The primary purpose of a full node is to protect your bitcoins. If your wallet is not a full node, or is not connected to your full node, then you are relying on somebody else to protect your bitcoins. As a secondary benefit, each additional node also helps to protect the integrity of the network.

allankey

newbie

Activity: 55

Merit: 0

So miners earn the fees, but full nodes get nothing. Okay. A strange concept for me to grasp. lol

X7

legendary

Activity: 1162

Merit: 1009

Let he who is without sin cast the first stone

Nodes serve a different purpose

dex1

full member

Activity: 141

Merit: 116

No, transaction fees go to miners.

Edit: knightdk was faster by 17 sec.

achow101

staff

Activity: 3458

Merit: 6793

Just writing some code

Quote from: allankey on May 29, 2016, 08:00:41 AM

Whenever a BTC transaction happens, sender sends a transaction fees. Does the BTC node gains a share of the transaction fees?

No. Full nodes do not receive any sort of compensation for being a full node. Only miners do.

allankey

newbie

Activity: 55

Merit: 0

Whenever a BTC transaction happens, sender sends a transaction fees. Does the BTC node gains a share of the transaction fees?

Topic: Can I earn bitcoins by being a bitcoin node that process transactions? (Read 1408 times)