Help and Advice on Running Own Pruned Node - page 2.

LoyceV

legendary

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Thick-Skinned Gang Leader and Golden Feather 2021

Quote from: ncentrepreneur.investor on June 04, 2022, 06:40:27 AM

I use cold storage and multi sig at the moment.

What software did you use to create your cold storage, and what do you use to make a transaction?

Quote from: ncentrepreneur.investor on June 04, 2022, 12:26:01 AM

I hear about the cons of running a node from a security standpoint.

Quote from: ncentrepreneur.investor on June 04, 2022, 06:40:27 AM

I hear how bitcoiners should be running their own node.

I hear a lot of things Wink

It helps to also hear the "why" part.
I believe Bitcoiners should use whatever software works best for what they need.

ncentrepreneur.investor

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Quote from: BlackHatCoiner on June 04, 2022, 02:15:55 AM

Quote from: ncentrepreneur.investor on June 04, 2022, 12:26:01 AM

I want to run a pruned node. What’re the benefits vs cons cause I’m not sure I even need one.

The benefits of running a pruned node are about the same as running a non-pruned node: Privacy as you rely on no third parties, security as it protects you against fraudulent activity, self-sovereignty as you get to verify the transactions and don't trust anyone, and freedom to enforce the rules you're agreed upon.

Quote from: ncentrepreneur.investor on June 04, 2022, 12:26:01 AM

No, I do t fully understand it all yet. Thanks

Make sure you do. You don't want to either lose money or somehow make things worse, which is common if you proceed in something you don't understand.

This might help you: https://www.lopp.net/bitcoin-information/full-node.html

Yep, that’s what I heard. That’s what makes me interested. Thank you for the learning link.

ncentrepreneur.investor

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Activity: 66

Merit: 25

Quote from: LoyceV on June 04, 2022, 02:05:42 AM

Quote from: ncentrepreneur.investor on June 04, 2022, 12:26:01 AM

I hear about the cons of running a node from a security standpoint.

What did you hear? Is it about sharing your IP with other nodes (solution: use VPN/Tor), or is it about the risk of getting your funds stolen (solution: don't keep high value in a hot wallet).

Quote

I want to run a pruned node. What’re the benefits vs cons

It depends: what wallet are you using now?

I use cold storage and multi sig at the moment. I do consistently use a VPN. I don’t know how to use a Bitcoin core wallet yet (hot wallet?) and don’t use electrum or Spector. Not currently. I hear how bitcoiners should be running their own node. That concept is foggy to me. Isn’t that risky?

PrimeNumber7

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Amazon Prime Member #7

There are generally no security risks associated with running a full node. Some businesses have had their hot wallets hacked, however their servers were not a target because they were running a full node, they were a target because they had private keys associated with large amounts of coin.

Running a full node will consume resources. Depending on what type of business you are conducting on your computer, and how critical it is to maximize your various computer resources, it may be better to use another computer/server to run a full node.

In general, running a full node will maximize your privacy associated with using bitcoin. It is however resource-intensive if you want to import a private key associated with an address that has previously received transactions, and especially so if you are running a pruned node.

BlackHatCoiner

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Farewell, Leo

Quote from: ncentrepreneur.investor on June 04, 2022, 12:26:01 AM

I want to run a pruned node. What’re the benefits vs cons cause I’m not sure I even need one.

The benefits of running a pruned node are about the same as running a non-pruned node: Privacy as you rely on no third parties, security as it protects you against fraudulent activity, self-sovereignty as you get to verify the transactions and don't trust anyone, and freedom to enforce the rules you're agreed upon.

Quote from: ncentrepreneur.investor on June 04, 2022, 12:26:01 AM

No, I do t fully understand it all yet. Thanks

Make sure you do. You don't want to either lose money or somehow make things worse, which is common if you proceed in something you don't understand.

This might help you: https://www.lopp.net/bitcoin-information/full-node.html

LoyceV

legendary

Activity: 3290

Merit: 16489

Thick-Skinned Gang Leader and Golden Feather 2021

Quote from: ncentrepreneur.investor on June 04, 2022, 12:26:01 AM

I hear about the cons of running a node from a security standpoint.

What did you hear? Is it about sharing your IP with other nodes (solution: use VPN/Tor), or is it about the risk of getting your funds stolen (solution: don't keep high value in a hot wallet).

Quote

I want to run a pruned node. What’re the benefits vs cons

It depends: what wallet are you using now?

ncentrepreneur.investor

member

Activity: 66

Merit: 25

I keep hearing about the benefits of running your own node and would like to. I have one computer with a new enough OS to install one, but I also use the computer for business and I hear about the cons of running a node from a security standpoint. I want to run a pruned node. What’re the benefits vs cons cause I’m not sure I even need one. No, I do t fully understand it all yet. Thanks

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