The idea of rewarding users that run full nodes has already been floating around for some time, but it doesn't seem like anyone can come up with a solid solution.
From your statement, are you saying that a Bitcoin organization that rewards full nodes should be formed? That could work, but the money would have to come from somewhere, and they would need a way to verify how long each full node has been running. That means they would need a constant stream of donations, and maybe a change in the network protocol.
For now, people will just have to settle for the inherent advantages of running a full node, like not having to trust your service provider, and actually contributing to the well-being of the entire network.
Topic: Just an idea for Bitcoin (Read 219 times)
I 100% think Full Nodes should be incentivized monetarily. It is pure common sense! It's a bit strange why Satoshi didn't include this.
Every cryptocurrency must Incentivize its Nodes for the sake of sustainability.
Corporations could take over in the long run if Nodes aren't properly incentivized.
Every cryptocurrency must Incentivize its Nodes for the sake of sustainability.
Corporations could take over in the long run if Nodes aren't properly incentivized.
well bitcoin is a decentralized network and in order to participate in this decentralized network and gain the benefits of using it, you should become a part of this network and that requires you to run a full node. that should be incentive enough for people to run a full node. and specially when they own a considerable amount of money in bitcoin (anything more than 1-2BTC) they should run one.
additionally if I understand it correctly, with Lightning Network you should be able to run hubs on top of your bitcoin full node and by doing that get some small amount of fees for processing transactions.
additionally if I understand it correctly, with Lightning Network you should be able to run hubs on top of your bitcoin full node and by doing that get some small amount of fees for processing transactions.
can be an alternative choice when the currency exchange is unstable and bitcoin continues to increase then there is growth of the internet world is increasing
there is any person who can explain how is possible to make bitcoin Lightning fast Network.
also question of difficulty level
also question of difficulty level
I agree with you, you give the one of the best explanation. Yeah maybe we can just leave it because it can cause some trouble to our own transactions. We can realize that when we encountered the too slow network and while has an interruption in bitcoin transaction so just leave it.
Yes they should be special packages for those who love bitcoins to use spare data and electricity to enable bitcoins run. It is their effort that bitcoin transaction work without interruption.
but current situation of bitcoin network is very bad exchangers are almost out of business who was taking 5% fee or even 10% now days fee is approx 17$ on transfer 200$ bitcoins
I feel this pain, the network is too slow, congested and has a high fee. Everything brings problem to all of us, it's not good for small transactions but it's worth it to big transactions.there is any solution for this ?
Everyone is getting some hope with Lightning Network.
Not even the bitcoin coders want to do that. The bitcoin core is almost dead at the moment, there are just tiny updates and everytime that something gets fixed, another issue start.
It doesn't justify that, but we all know that it is pretty impossible to try to fix something that is not ours. The same happens with all the other altcoins that are suffering huge issues with their nodes.
do you think there should be a reward for a person who volunteer computer internet and lot of disk space for bitcoin full node ?
I would do it, but it is not easy, just think about it, if the real coders haven't did it, then why would you do it? It means that it is extremely difficult, and expensive.It doesn't justify that, but we all know that it is pretty impossible to try to fix something that is not ours. The same happens with all the other altcoins that are suffering huge issues with their nodes.
Hello
i was thinking if Bitcoin orgnization give some money to peoples who host full node since full node support network also
do you think there should be a reward for a person who volunteer computer internet and lot of disk space for bitcoin full node ?
If you see arent they getting a lot of their rewards in form of miners fees and price increase due to hodling? i was thinking if Bitcoin orgnization give some money to peoples who host full node since full node support network also
do you think there should be a reward for a person who volunteer computer internet and lot of disk space for bitcoin full node ?
wow guys nice explanation & ideas
but current situation of bitcoin network is very bad exchangers are almost out of business who was taking 5% fee or even 10% now days fee is approx 17$ on transfer 200$ bitcoins
there is any solution for this ? also if transaction with low fee take days to confirm
as i know bitcoin made on aim to make anonymous transactions with low fee and Low Fee Concept is almost dead now i am seeing bright future of coins like IOTA where is no blockchain no miners no fee
how bitcoin developer can solve this issue of high fee and delayed confirmation
there is any solution for this ? also if transaction with low fee take days to confirm
as i know bitcoin made on aim to make anonymous transactions with low fee and Low Fee Concept is almost dead now i am seeing bright future of coins like IOTA where is no blockchain no miners no fee
how bitcoin developer can solve this issue of high fee and delayed confirmation
I agree with cellard, can we just leave it as what it is now. I think it will create a big disaster and an imbalance on the Bitcoin ecosystem if Bitcoin developers automated to give rewards for supporting the network, Some of the people who will run the node may abuse it in which way i don't know how they will abuse it and also i don't know what would be the result of abusing or hosting a lot of node, but again for me , I agree with cellard, leave it as what it is now.
nice explanation but can you explain bitcoin network congestion and network difficulty
Hello
i was thinking if Bitcoin orgnization give some money to peoples who host full node since full node support network also
do you think there should be a reward for a person who volunteer computer internet and lot of disk space for bitcoin full node ?
i was thinking if Bitcoin orgnization give some money to peoples who host full node since full node support network also
do you think there should be a reward for a person who volunteer computer internet and lot of disk space for bitcoin full node ?
This is one of the key aspects of the network that remain unresolved. Running a node should be rewarded somehow... satoshi talked about this but never came up with anything in particular. The game theory at play could also be disturbed by an incentive tho, it's something to consider. If you give coins to people holding nodes (it should be automated in the protocol, not depending on some organization) then there will be an incentive to run tons of nodes and some corporation may run a lot of them and then make the rest of the people think "Bitcoin is decentralized enough, I will not bother anymore running my own node" when it would be few people running nodes for the reward. It's not as easy as it seems... maybe it's best to leave it as it is, just an altruistic act that as a bitcoin holder makes your holdings stronger by strengthening the network and you also get to validate your own transactions which should be enough of an incentive, but given the low node count clearly it isn't... we'll see what happens.
Hello
i was thinking if Bitcoin orgnization give some money to peoples who host full node since full node support network also
do you think there should be a reward for a person who volunteer computer internet and lot of disk space for bitcoin full node ?
i was thinking if Bitcoin orgnization give some money to peoples who host full node since full node support network also
do you think there should be a reward for a person who volunteer computer internet and lot of disk space for bitcoin full node ?
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