How to run and operate your own bitcoin node

[JessicaVL]

The Bitcoin (BTC) blockchain is a decentralized, peer-to-peer (P2P) network that is totally open source. That means that anyone who holds BTC can take part in the operations of the network. Running a Bitcoin full node is a pretty exciting way of getting involved in the Bitcoin blockchain, and it has a number of different benefits. So, want to know how to run and operate your very own Bitcoin full node? Keep reading.

Whenever buying or trading Bitcoin, make sure you’re using reliable platforms. Safety is key, stick to platforms like eToro, Bittrex and Coinbase.

 
What is a Bitcoin full node?

A Bitcoin full node is a program that validates transactions and blocks on the network. Full nodes can also help the blockchain by accepting Bitcoin transactions and blocks from other full nodes, validating them, and then relaying them on to other full nodes.

Many full nodes also serve lightweight clients. A lightweight client, or light node, is a piece of software that connects to a full node in order to interact with a blockchain. It does not download the full blockchain, instead it downloads the block headers only to validate the authenticity of transactions that pass through it. Lightweight nodes use the SPV method (Simplified Payment Verification) as a means to verify transactions. They can transmit their transactions to the network, and are then notified when a Bitcoin transaction hits their wallet. Enough nodes are needed for this function to be performed, otherwise clients won’t be able to connect through the P2P network – and they’ll have to switch to a centralized network instead.

There are already many, many individuals and organizations running full nodes using spare computing and bandwidth resources, but the network is growing every day, and more volunteers will be necessary for Bitcoin to continue to grow! That’s where you come in.

https://www.youtube.com/watch?v=sVeolsQ3cvU

BENEFITS OF RUNNING A BITCOIN FULL NODE

So, what are some of the benefits of running a Bitcoin full node?

- Helps the Network: Running a full node is the best way to ensure that all of the rules of the network are being adhered to. Nodes reject blocks and transactions if they don’t follow consensus rules.

- Safety: Running your own Bitcoin full node negates the need for third party wallets or lightweight clients. Using a Bitcoin wallet or client requires that you place your trust (and your coins) in the central node that your Bitcoin transactions are broadcasted through, and you won’t need to do that when you run your own full node.

- Freedom of choice: Should there be a hard fork where both blockchains remain economically active, the only way you can choose which rules to validate (new or old) will be by running a full node. If you don’t run a full node, your vote will not be considered and you’ll have to follow the rules of the blockchain that are given to you.

https://www.youtube.com/watch?v=oX0Yrv-6jVs

WHAT YOU’LL NEED TO RUN A BITCOIN FULL NODE

Want to know how to run and operate your very own Bitcoin full node?

Well, running a Bitcoin full node is relatively simple and low cost – however there are certain requirements that you’ll need to meet. This is what you’ll need to run and operate your very own Bitcoin full node:

- Desktop computer or laptop that runs a recent version of Windows, Linux, or Mac OS X operating systems.
- At least 200 gigabytes of free disk space, with a minimum read/write speed of 100 MB/s.
- 2 gigabytes of RAM.
- An internet connection with a minimum upload speed of 400 kilobits per second, an unmetered connection, and a connection with high upload limits.
- The full node must be able to run for at least 6 hours a day – although running it continuously would be best.

HOW TO SET UP YOUR BITCOIN FULL NODE
 

Since we’ve looked at the benefits of running a Bitcoin full node and what you’ll need, let’s take a look at how to set up your Bitcoin full node.

 

Step 1: Hardware

You can either choose to run your full node on your computer, or on an external device like a Raspberry Pi 3+.

 

Step 2: Choose your OS

Bitcoin full nodes can be run on a variety of operating systems including Windows, Mac OS X, and Linux. As long as it meets the full node minimum requirements, you’re good to go.

 

Step 3:Install Bitcoin Core

Installing Bitcoin Core is super simple but can take some time. You can follow the link here.

 

Step 4: Configure Your Router

You’ll need to configure your wireless router so that it accepts all incoming connections on port 8333.

Step 5: Verification

Finally, you’ll need to verify that your Bitcoin node can be reached. This tool from EARN.com can help you with the verification process. It can also check if your node is receiving connections from other nodes.

 

SHOULD YOU RUN YOUR OWN BITCOIN FULL NODE?
 

After looking at how to run and operate your very own Bitcoin full node, maybe the idea seems appealing to you. It’s much simpler than it appears at first glance, is relatively cheap and easy to set up, and gives you the satisfaction of knowing that you’re contributing to the blockchain. Also, your own coins will be much safer when they can transact through your own server rather than a third party! Running a full node doesn’t have to be super complicated, so feel free to refer back to this guide any time!

https://itsblockchain.com/bitcoin-node/

[blckhawk]

It may be viable for those who have spare funds to liquidate to contribute to the network. But for those who are short in funds, as much as they want to help the network, they can't really afford to contribute. Still though, a nice post to read that spreads knowledge about the core foundation of the bitcoin network, and potentially attract people here to help the network and improve the market.

[TravelMug]

It may be viable for those who have spare funds to liquidate to contribute to the network. But for those who are short in funds, as much as they want to help the network, they can't really afford to contribute. Still though, a nice post to read that spreads knowledge about the core foundation of the bitcoin network, and potentially attract people here to help the network and improve the market.

And for the record, here are a good estimates as how many many and what countries are operating a bitcoin node.

GLOBAL BITCOIN NODES DISTRIBUTION
Reachable nodes as of Mon Oct 28 2019 19:24:05 GMT+0800 (Philippine Standard Time).

9343 NODES
24-hour charts

Top 10 countries with their respective number of reachable nodes are as follow.

RANK   COUNTRY           NODES
1          United States     2378 (25.45%)
2          Germany           1896 (20.29%)
3          France               623 (6.67%)
4          Netherlands       490 (5.24%)
5          Singapore           345 (3.69%)
6          United Kingdom   316 (3.38%)
7          Canada             314 (3.36%)
8          China                     308 (3.30%)
9          Russian Federation  253 (2.71%)
10          Japan                     193 (2.07%)

https://bitnodes.earn.com/

Of course we wanted to contribute ourselves, unfortunately not all can run a full bitcoin node, specially for countries that have a slow or have problems with their internet/internet providers.

[ChrisPop]

We need more decentralization of the bitcoin full nodes currently on the network. Most full nodes are run by miners and big centralized blockchain services. This is solely because you need to be quite resourceful and be willing to spare somekind of hardware which has pretty decent specifications to run the full node. You need RAM, internet and continuous electrical power. Might not be much for the average joe, but is he willing to put in the work to set all this up for nothing in return(just supporting the network)? - Even if we don't like it, the answer is no.

I think we must find a way to incentivise bitcoin full node running or make the process more lightweight if you will.

[JessicaVL]

It may be viable for those who have spare funds to liquidate to contribute to the network. But for those who are short in funds, as much as they want to help the network, they can't really afford to contribute. Still though, a nice post to read that spreads knowledge about the core foundation of the bitcoin network, and potentially attract people here to help the network and improve the market.

Yes, at this stage running your own node can be a costly business - but it's a fantastic way of really contributing to the network. Although, it's not a viable option for everyone, it is something interesting to look into.

[JessicaVL]

We need more decentralization of the bitcoin full nodes currently on the network. Most full nodes are run by miners and big centralized blockchain services. This is solely because you need to be quite resourceful and be willing to spare somekind of hardware which has pretty decent specifications to run the full node. You need RAM, internet and continuous electrical power. Might not be much for the average joe, but is he willing to put in the work to set all this up for nothing in return(just supporting the network)? - Even if we don't like it, the answer is no.

I think we must find a way to incentivise bitcoin full node running or make the process more lightweight if you will.

Yes, more decentralization would definitely be a good thing. Running your own node is a challenge, but making the process more lightweight would be fantastic first step to encourage Bitcoin users to do it. Ultimately, there needs to be some incentivization.

[BitcoinFX]

We need more decentralization of the bitcoin full nodes currently on the network. Most full nodes are run by miners and big centralized blockchain services. This is solely because you need to be quite resourceful and be willing to spare somekind of hardware which has pretty decent specifications to run the full node. You need RAM, internet and continuous electrical power. Might not be much for the average joe, but is he willing to put in the work to set all this up for nothing in return(just supporting the network)? - Even if we don't like it, the answer is no.

I think we must find a way to incentivise bitcoin full node running or make the process more lightweight if you will.

Yes, more decentralization would definitely be a good thing. Running your own node is a challenge, but making the process more lightweight would be fantastic first step to encourage Bitcoin users to do it. Ultimately, there needs to be some incentivization.

Good posts.

Casa node is a nice implementation for Bitcoin (BTC) and the Lightning Network, now with some incentives ...

See: https://keys.casa/

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If folks reading this require privacy and circumvention solutions when running full nodes, feel free to go here;
- https://bitcointalk.org/index.php?topic=5177001.0

Cheers!