Becoming a miner on the network and becoming a node on the network, it's totally different.
People might misunderstand and think two activities are the same because I am sure big mining farms do run their own full nodes. However, as a miner, you don't have to run a full node to mine Bitcoin. You can simply connect your miners to a mining pool that have their own full node. You just put your hashrate into that pool, mine and receiving mining shares with them.
Additionally, there are full node and prune node. If you want to run a Bitcoin node, it should be a full one, not prune one. If you don't have enough storage capacity, let's use SPV wallet such as Electrum wallet.
Topic: Thinking about running Node if possible, your guide is needed (Read 134 times)
Can one make money running Bitcoin full node?
Just by running a Bitcoin full node, no. However, you can earn few sats by running a full node along with a Lightning node that has a few channels opened. The coins you're referring to are proof-of-stake coins, bitcoin is proof of work. See the difference between the two[1].
Just to add that you don't necessarily get paid if you run a node, even in PoS coins. For instance, in Cardano[1] there are the core nodes, the edge nodes and the relay nodes while only the core nodes participate in the consensus mechanism. [1] https://files.ifi.uzh.ch/CSG/staff/Rafati/Kursat_IS.pdf (page 8)
Firstly, it's going to cost you money to run the BTC node and that money will be spent on heavy HDD or SSD space, BTC blockchain data is almost 400GB as we speak.
Secondly, BTC is a Proof of work coin, you won't be earning anything running a Node of a coin with a PoW algorithm, look into PoS ( proof of stake ) coins instead.
Secondly, BTC is a Proof of work coin, you won't be earning anything running a Node of a coin with a PoW algorithm, look into PoS ( proof of stake ) coins instead.
What you mean is staking, even you run Ethereum full node you wouldn't earn anything if you not have sufficient balance to stake. Bitcoin never offer staking feature, if you see Bitcoin staking on a lending company or exchanges, you're investing to their sites, not Bitcoin. Your coins will be used for them to earn more money, but the risk is you might lose all of your coins.
No, you can't make money by running a bitcoin full node. The coins you're referring to are proof-of-stake coins, bitcoin is proof of work. See the difference between the two[1].
[1] https://medium.com/novamining/main-differences-between-pow-and-pos-cryptocurrency-mining-c4cc279d9739
[1] https://medium.com/novamining/main-differences-between-pow-and-pos-cryptocurrency-mining-c4cc279d9739
No. People are running full node just for privacy reasons as they do not depend on central servers that can link same SPV (light client) wallet addresses, and IP address used for it together.
Can one make money running Bitcoin full node? I see that other projects require some amount of tokens or coins but I'm not sure about Bitcoin.
Jump to: