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joe1234
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November 21, 2017, 04:45:34 PM
 #1

Hello forum

does operating a fullnode (bicoin core installed with the complete blockchain) favourize my transactions?

Thank you for your feedback!

Joe

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DannyHamilton
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November 21, 2017, 07:04:54 PM
 #2

does operating a fullnode (bicoin core installed with the complete blockchain) favourize my transactions?

No.

You gain no priority by running a full node.

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November 21, 2017, 08:02:22 PM
 #3

Hello forum

does operating a fullnode (bicoin core installed with the complete blockchain) favourize my transactions?

Hello, of course not. You don't have any priority for your transactions with core wallet.
But it's better to use it rather light wallet (if you have such opportunity) because it has another pros against light wallet.
It's more safe
it has some functions that light wallet don't have (replace-by-fee for example) and also if you're skilled in crypto you can compile your own wallet with functionality that you need. (you can control number of inbound and outbound connections)

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November 21, 2017, 08:48:29 PM
 #4

It's more safe

In what way is it more safe?  Safe is a relative term, and what is safe for one person is not always safe for another.  For many people, a light wallet such as Electrum is MUCH safer than a full node such as Bitcoin Core.

it has some functions that light wallet don't have (replace-by-fee for example)

I'm pretty sure Electrum has Replace-by-fee.

and also if you're skilled in crypto you can compile your own wallet with functionality that you need.

What functionality do I need that Electrum doesn't already supply? Isn't Electrum an open source project?  Can't I change the code of Electrum for my own purposes if I want to?


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November 23, 2017, 03:30:56 AM
 #5

default bitcoin-core will not favourize your tx.,

but modified bitcoin-core can help upto some extent.,

that depends what are you trying to do , i mean you could push nonstand tx , tx with 0 fees., but peers connected to your node will reject these tx if they are default .i.e not modified.  you can get over it by adding relay node in your peers list.

so you accept non stand tx and push it to relay node, then other peers which are accepting non standard tx will get your tx and can accept it.

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November 23, 2017, 10:02:49 PM
 #6

In what way is it more safe?  Safe is a relative term, and what is safe for one person is not always safe for another.  For many people, a light wallet such as Electrum is MUCH safer than a full node such as Bitcoin Core.
You own your money. You never know what code is in Electrum or other light wallet. Backdoors or something can exist.
Of course, if you don't want to keep your private keys right you'd better to use paypal or swift.


I'm pretty sure Electrum has Replace-by-fee.
yes it have such opportunity.


What functionality do I need that Electrum doesn't already supply? Isn't Electrum an open source project?  Can't I change the code of Electrum for my own purposes if I want to?

You can't control inbound or outbound connections(with core node you can create different types of nodes). You can't import raw private keys in electrum ('cause now it support only HD wallets as i remember. You can import only xpriv and/or xpub).
And it's much harder to compile Electrum client rather bitcoin core node.

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November 24, 2017, 04:21:49 PM
 #7

You own your money. You never know what code is in Electrum or other light wallet. Backdoors or something can exist.
Electrum is open sourced. If you verify and compile it yourself, you will know if there is any backdoors or not. If you use the precompiled version, you will still be putting the trust into whoever compiled it for you. It's the same with Bitcoin Core, there shouldn't be any label on the trustworthiness.



You can't control inbound or outbound connections(with core node you can create different types of nodes).
You can connect to whatever server you want. Core is noticeably more resource intensive as compared to Electrum. There are drawbacks to everything, nothing is perfect.
You can't import raw private keys in electrum ('cause now it support only HD wallets as i remember. You can import only xpriv and/or xpub).
You can. You have to create a new wallet file. Good idea IMHO, its drawing the line clearly for the newbies on what the seed can recover and what the seed can't.
And it's much harder to compile Electrum client rather bitcoin core node.
Have you actually tried it before? The last time I compiled Core, it took me quite a few tries to get the dependencies correct.

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November 24, 2017, 05:41:02 PM
 #8

It's more safe

In what way is it more safe?  Safe is a relative term, and what is safe for one person is not always safe for another.  For many people, a light wallet such as Electrum is MUCH safer than a full node such as Bitcoin Core.

it has some functions that light wallet don't have (replace-by-fee for example)

I'm pretty sure Electrum has Replace-by-fee.

and also if you're skilled in crypto you can compile your own wallet with functionality that you need.

What functionality do I need that Electrum doesn't already supply? Isn't Electrum an open source project?  Can't I change the code of Electrum for my own purposes if I want to?



You have the full blockchain and you validate your own transactions, your BTC addresses do not leave your wallet and so doesn't your tx. In an SPV wallet, they are sent to someone else's node. Luke Dash JR has very good critiques on SPV wallets and how using your own node to transact is the only way to be using 100% bitcoin.

Quote

If you're not using a full node for your wallet, you're not using Bitcoin, and won't get the benefits Bitcoin provides over fiat currency. You might as well be using PayPal in that case, except with a random anonymous person in place of a regulated company...

So, always use a full node. – Luke-Jr

Quote
   
If you only scan the blockchain then you don't know it's actually valid, and you are not secure. You are then trusting the random anonymous person to have validated it for you, and if they haven't, you may be trusting invalid blocks and not actually receiving payments you think you are. Having the wallet keys locally doesn't help if those keys don't really control any bitcoins. So sorry, you're wrong: a full node you control is absolutely needed to be secure and get Bitcoin's benefits. – Luke-Jr

https://bitcoin.stackexchange.com/questions/52148/should-i-use-a-full-node-as-my-main-wallet/52238

Im not saying SPV aren't a good way to start for newbies, but consider running a full node eventually.
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November 27, 2017, 05:43:39 PM
 #9

Hello forum

does operating a fullnode (bicoin core installed with the complete blockchain) favourize my transactions?

Thank you for your feedback!

Joe


Running a full bitcoin node will not promote your transaction or will speed up its confirmation.

There are some other benefits from running a full node, like helping the network, also, it is safer since you will not have to trust an external server when broadcasting your transactions, in addition to that, in case of hard fork, you will have the possibility to choose which blockchain you want to support.
Keep in mind that you need 150Go of free disk space and at least 2Go of RAM to run a bitcoin node, besides you have to keep your computer running for more than 6 hours daily.

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November 27, 2017, 05:53:53 PM
 #10

Hello forum

does operating a fullnode (bicoin core installed with the complete blockchain) favourize my transactions?

Thank you for your feedback!

Joe



It's not the full node that gives you the ability to prioritize the transactions, but I think it's the mining operation.
A full node only supports the network by just replying to the data as well as asking for the data itself whereas if you mine, you may include your transactions in your database that you decide to support (via your pool) or may directly accelerate it through them.


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bob123
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November 28, 2017, 04:42:03 PM
 #11

There are some other benefits from running a full node, like helping the network, also, it is safer since you will not have to trust an external server when broadcasting your transactions, in addition to that, in case of hard fork, you will have the possibility to choose which blockchain you want to support.

It is no way safer using a full node as wallet than using a lightweight wallet like electrum. You never need to trust 'an external server' when broadcasting the TX.
You can always push your transaction yourself. But you have to relay it to other nodes. How you will accomplish this.. is up to you.
Has nothing to do with running a full node for security reasons. And in case of hardforks there is no disadvantage in using a lightweight wallet either.
With a backup for a mnemonic seed or any priv keys backups you are always 'safe' from all hardforks whatsoever.

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November 28, 2017, 04:52:37 PM
 #12

It is no way safer using a full node as wallet than using a lightweight wallet like electrum. You never need to trust 'an external server' when broadcasting the TX.
You can always push your transaction yourself. But you have to relay it to other nodes. How you will accomplish this.. is up to you.
Has nothing to do with running a full node for security reasons.
SPV wallets does have issues regarding the privacy and security. In the privacy aspect, servers are able to see all the addresses associated with an IP address or a wallet. Regarding the security, SPV assumes that the longest chain difficulty-wise is valid. Since it doesn't validate the rules, SPV clients are at risk if there is a fork due to blocks not following the rules that majority of the network is following. This has happened before and the repercussions can be serious.

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November 29, 2017, 10:58:16 PM
 #13

Hello forum

does operating a fullnode (bicoin core installed with the complete blockchain) favourize my transactions?

Thank you for your feedback!

Joe



The only thing  prioritizing the transaction is the amount of the fee that you pay for that transaction. The higher the transaction fee per byte, the faster the processing. Here you can find current fees and expected processing time for your transactions: https://bitcoinfees.earn.com/
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November 29, 2017, 11:17:45 PM
 #14

It is no way safer using a full node as wallet than using a lightweight wallet like electrum. You never need to trust 'an external server' when broadcasting the TX.
You can always push your transaction yourself. But you have to relay it to other nodes. How you will accomplish this.. is up to you.
Has nothing to do with running a full node for security reasons.
SPV wallets does have issues regarding the privacy and security. In the privacy aspect, servers are able to see all the addresses associated with an IP address or a wallet. Regarding the security, SPV assumes that the longest chain difficulty-wise is valid. Since it doesn't validate the rules, SPV clients are at risk if there is a fork due to blocks not following the rules that majority of the network is following. This has happened before and the repercussions can be serious.

Electrum is better than most SPV wallets in this respect, though. Versions 2.9 and later have a fork detection mechanism if there is a fork dispute among servers. Users are then prompted to choose which fork to interact with.

You also don't need to randomly connect to servers with Electrum, so you won't necessarily follow the most-work chain if it's invalid. You can connect to a Core node server, removing this concern. For example, here is a list of Electrum servers. You can choose one that is running the Satoshi client.

There are definitely privacy weaknesses. But there are good reasons why Electrum is listed on bitcoin.org -- because it's secure, open-sourced, and miles ahead of all other SPV implementations (usability, etc).
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