Why would I want to run a Bitcoin core node

mr angry

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Quote from: Amph on January 01, 2016, 02:34:50 PM

Quote from: Patusinmod on January 01, 2016, 02:32:56 PM

Quote from: Amph on January 01, 2016, 02:29:54 PM

this is another thing that should be added, a small reward to incentivate running a node

they can already do that with the fee, 10ks to everyone that is running a node, per day, at least they have a free transaction Grin

Is there a block reward scheme for full nodes? I am interested in joining one. I have a full node.

no there are not reward of any kind, sadly, otherwise i would run one

The big mining pools could offer a small payment as an incentive to people running nodes. It could help pay the small costs of running a node like wear and tear on hardware, and power. The biggest pools must make a handsome profit, they could afford to give a small part of it for running nodes, but they probably won't.

Supercrypt

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In my perspective, full node is the chance to pay back to bitcoin ecosystem once I become a bitcoin Millionaire. If I would have adopted bitcoins by 2010 then now I will be running a full node. The reasons are obvious. Same way I believe by 2020 I will be running at least 2 full nodes for 24x7 to help and secure bitcoin network and community.

Amph

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Merit: 1070

Quote from: Patusinmod on January 12, 2016, 05:43:31 AM

Quote from: knowhow on January 01, 2016, 03:28:14 PM

Quote from: Amph on January 01, 2016, 02:34:50 PM

Quote from: Patusinmod on January 01, 2016, 02:32:56 PM

Quote from: Amph on January 01, 2016, 02:29:54 PM

this is another thing that should be added, a small reward to incentivate running a node

they can already do that with the fee, 10ks to everyone that is running a node, per day, at least they have a free transaction Grin

Is there a block reward scheme for full nodes? I am interested in joining one. I have a full node.

no there are not reward of any kind, sadly, otherwise i would run one

This scenario will maybe change when the mine of bitcoins ends,on that time someome must support the network to keep bitcoin safe,soo the owners of nodes on that time should take some % to keep alive otherwise we will see bitcoin going down very fast.

The mining of bitcoin will never end as the miners can get fees for supporting the network. That is the transaction fee.

that what i mean with "end" entering the fee, is an ending, and so a full node can be seen more as a miner node, because there is no more generation, thus it can earn with fee like miners

BillyBobZorton

legendary

Activity: 1204

Merit: 1028

There are no incentives right now but to feel good that you are doing a good job into helping the network. I wish they made the Core wallet more functional and cool looking at least since you have to keep it open all day.

coinzat

sr. member

Activity: 434

Merit: 250

Young but I'm not that bold

There is no benefit from running a node for an individual. It will cost you the electricity and your PC may be damaged. I know that it will help the network but there is already enough nodes running out there

Patusinmod

newbie

Activity: 13

Merit: 0

Quote from: knowhow on January 01, 2016, 03:28:14 PM

Quote from: Amph on January 01, 2016, 02:34:50 PM

Quote from: Patusinmod on January 01, 2016, 02:32:56 PM

Quote from: Amph on January 01, 2016, 02:29:54 PM

this is another thing that should be added, a small reward to incentivate running a node

they can already do that with the fee, 10ks to everyone that is running a node, per day, at least they have a free transaction Grin

Is there a block reward scheme for full nodes? I am interested in joining one. I have a full node.

no there are not reward of any kind, sadly, otherwise i would run one

This scenario will maybe change when the mine of bitcoins ends,on that time someome must support the network to keep bitcoin safe,soo the owners of nodes on that time should take some % to keep alive otherwise we will see bitcoin going down very fast.

The mining of bitcoin will never end as the miners can get fees for supporting the network. That is the transaction fee.

knowhow

hero member

Activity: 560

Merit: 500

Quote from: Amph on January 01, 2016, 02:34:50 PM

Quote from: Patusinmod on January 01, 2016, 02:32:56 PM

Quote from: Amph on January 01, 2016, 02:29:54 PM

this is another thing that should be added, a small reward to incentivate running a node

they can already do that with the fee, 10ks to everyone that is running a node, per day, at least they have a free transaction Grin

Is there a block reward scheme for full nodes? I am interested in joining one. I have a full node.

no there are not reward of any kind, sadly, otherwise i would run one

This scenario will maybe change when the mine of bitcoins ends,on that time someome must support the network to keep bitcoin safe,soo the owners of nodes on that time should take some % to keep alive otherwise we will see bitcoin going down very fast.

Meuh6879

legendary

Activity: 1512

Merit: 1012

With a simple node, you control the most powered network on the world !

And ... you control your money, too.

Approved since december 2013.

Amph

legendary

Activity: 3248

Merit: 1070

Quote from: Patusinmod on January 01, 2016, 02:32:56 PM

Quote from: Amph on January 01, 2016, 02:29:54 PM

this is another thing that should be added, a small reward to incentivate running a node

they can already do that with the fee, 10ks to everyone that is running a node, per day, at least they have a free transaction Grin

Is there a block reward scheme for full nodes? I am interested in joining one. I have a full node.

no there are not reward of any kind, sadly, otherwise i would run one

Patusinmod

newbie

Activity: 13

Merit: 0

Quote from: Amph on January 01, 2016, 02:29:54 PM

this is another thing that should be added, a small reward to incentivate running a node

they can already do that with the fee, 10ks to everyone that is running a node, per day, at least they have a free transaction Grin

Is there a block reward scheme for full nodes? I am interested in joining one. I have a full node.

Amph

legendary

Activity: 3248

Merit: 1070

this is another thing that should be added, a small reward to incentivate running a node

they can already do that with the fee, 10ks to everyone that is running a node, per day, at least they have a free transaction Grin

NorrisK

legendary

Activity: 1946

Merit: 1007

Quote from: rikrikrik on January 01, 2016, 12:34:40 PM

Ok so you have my interest, now at the moment I use a web site that I bought my btc with AUD and SGD, if I run my own node will I be able to send and receive BTC without any transaction costs? And with me having a full node will it help propagate mine (and other people) transactions faster?

Unfortunately not. You are only helping with relaying the transaction over the network and making sure there is always a valid copy of the blockchain going around.

If you want free transactions, you need to have enough mining power to be able to mine a block yourself, which will be near impossible nowadays.

unamis76

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Quote from: rikrikrik on January 01, 2016, 12:34:40 PM

Ok so you have my interest, now at the moment I use a web site that I bought my btc with AUD and SGD, if I run my own node will I be able to send and receive BTC without any transaction costs? And with me having a full node will it help propagate mine (and other people) transactions faster?

No, because you don't host a huge mining node. Yes, you'll help transactions propagate further.

helloeverybody

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★YoBit.Net★ 350+ Coins Exchange & Dice

Quote from: rikrikrik on January 01, 2016, 12:34:40 PM

Ok so you have my interest, now at the moment I use a web site that I bought my btc with AUD and SGD, if I run my own node will I be able to send and receive BTC without any transaction costs? And with me having a full node will it help propagate mine (and other people) transactions faster?

you will still need to send a transaction fee if you want your transaction to be verified any time soon. Even if you have a miner running you need tx fee.

rikrikrik

hero member

Activity: 560

Merit: 500

where am i? HELLO WORLD

Ok so you have my interest, now at the moment I use a web site that I bought my btc with AUD and SGD, if I run my own node will I be able to send and receive BTC without any transaction costs? And with me having a full node will it help propagate mine (and other people) transactions faster?

Erkallys

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Activity: 1120

Merit: 1004

This doesn't bring any money advantage but some moral happiness. By doing so you help the network to remain decentralised. If you have a lot of money in Bitcoin, this may also unsure you a protection. This way you can say you are essential to Bitcoin Wink

!

NorrisK

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Activity: 1946

Merit: 1007

You strenghten the general bitcoin network by running a full node. You may want to get rid of some of the power consuming parts of your cluster as the requirements to run a node are not that high. It will save a lot of power that way, which is good for you and the environment.

Running a node unfortunately does not provide any rewards for you at this moment.

pawel7777

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Quote from: gentlemand on January 01, 2016, 11:40:41 AM

It does absolutely nothing for you. It does help maintain the network and its decentralisation. They did miss a bit of a trick with the total lack of incentive. Benevolence isn't enough to keep it going.

There may not be direct financial incentive, but if you hold larger amount of btc, or you run btc related business service etc it makes every sense to you to support the network by running full node (as long as the related costs are reasonable). So I wouldn't say it totally relies on benevolence.

But yeah, I'd love to see properly developed node reward system, even if the rewards are symbolic.

gentlemand

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Welt Am Draht

It does absolutely nothing for you. It does help maintain the network and its decentralisation. They did miss a bit of a trick with the total lack of incentive. Benevolence isn't enough to keep it going.

unamis76

legendary

Activity: 1512

Merit: 1012

You help relaying and accepting transactions for inclusion in a block

Topic: Why would I want to run a Bitcoin core node (Read 881 times)