Topic: Worth running a node if you're a hodl'er? - page 2. (Read 251 times)

The importance of running a node as you already know is trust, privacy and decentralization, with privacy and adding more security or decentralization to the bitcoin network against attacks like Sybil attack is the reason it is advisable to run your own node, but dealing with a centralized exchange where your details are already shared with defeats all forms of privacy so the whole idea of running for privacy is dead already. As for running the node yourself to help the decentralization of the network it is a great idea.

Running a node (bitcoin core) isn’t a lightweight program on laptops but with the device specs you stated above it will do just fine, it is not necessary to have the device turn on 24/7 although that is the best thing for the network but you can sync or verify when you power on the device.

Not making transactions regularly doesn’t mean you don’t need to be node runner you can be a node runner for not just you but for others close to you to connect to your node as it is also your part of keeping the network you hold its coin secure

You got multiple questions at once, I would try to respond as much as I can.

There is no direct incentive for running a node so you won't get any benefit other than contributing to the network's decentralization and also you get to validate your TXs on your own instead of relying on third party servers.

Since you mentioned centralized exchange then I assume your KYCed then they know more about just IP but still you can have all the perks while you are transacting from your cold Card to somewhere else.


Mining requires stressing the hardware to its potential to get the best but running a node is relatively nothing compared to mining in terms of workload, your hardware doesn't wear off that quickly because of the constant running of the device and also it hardly affects any of your operations including the internet speed.

---

Running node via TOR is for better privacy so you won't expose your IP to the bitcoin network and it's not much complex job as well.

I've got an extra 1TB SSD laying around on my system that's completely unused, I use 2 x 2TB NVME drives as my main drives. I figured rather than let the old 1TB 850 EVO SSD sit around, I could run a BTC node on it. I use a Cold Card Q and Sparrow, and just HODL what I buy twice a month. Is it pointless to run a node if you're not constantly transacting? When I transfer off of a CEX and onto my Cold Card, the private node wouldn't benefit me at all either would it? Seems you'd only get the transactional privacy of a private node when sending out of your wallet via sparrow, correct? So I guess aside from contributing to the BTC network, which I'm not opposed to at all, is there really any privacy benefits, or benefits at all to someone like me who transfers off a CEX maybe once every 2 months? After the initial downloading of the data, how taxing and/or "harmful" to your system is running the node? Can it just run in the background and pay no mind to it? I know running a miner would impact performance and incure power costs, but does running a node (Bitcoin Core) tax the hardware like that and "hurt" any of the components overtime the same way a miner would burning up GPU's?

Also, I notice a lot of the nodes are utilizing an .onion address for added privacy. Is this also something one would suggest? How difficult is it to setup an tor server, and is that even worth doing on a non-server environment PC? I'm not typically one to use things like VPN's, or TOR browsers for privacy as I don't really care who knows what YT videos I'm watching, or what games I'm playing (This is a gaming rig, if that's worth mentioning), but if setting up a TOR server to run the node on a .onion address isn't too difficult to do, and won't affect my internet speeds, then I'd be open to learning that.