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Author Topic: How to confirm transactions on bitcoin Core?  (Read 88 times)
alvarotorijano
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December 10, 2017, 07:26:04 PM
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Hi there, first post.
Mi question is how to earn some satoshis confirming bitcoin transactions with bitcoin Core.
I'm already a full node workin, but I don't earn anything, could somebody explain me that?

Thanks in advance!
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lizardbtc
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December 10, 2017, 07:27:09 PM
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Hi there, first post.
Mi question is how to earn some satoshis confirming bitcoin transactions with bitcoin Core.
I'm already a full node workin, but I don't earn anything, could somebody explain me that?

Thanks in advance!

Thats miners work. When you run a node you are helping the network in sence of nodes in it. Miners on the other hand are the ones that confimrs transactions - they are the ones who are doing all the things in the background and who maintain are responsible to keep adding blocks to the blockchain.

You can start mining as well, for this you wounldn't need full node, you can have it ofc because it keeps netowrk alive. Miners mine in so called "pools" - group of miners so that they raise the likleyhood of winning the block and getting rewards for it/gaining btc from fees. Although this is competitive field to be into since you will really need cheap electricity and good hardware (which is costy).

SegWit enabled that you can have a hub with your node however for this you will need good amount of btc in your wallet. I'd suggest that you search and understand what is SegWit if you are intereced but I will say in short what are hubs and how is this designed to be. So lighting network with SegWit allows off chain transactions whcih means that transactions every transaction is not sent via blockchain. So these hubs are like an middle man in the proccess. If for instance you own a hub so other users including me can connect via your hub and transfer money around so I can send 0.001 to my frined via your hub and you will collect the fees without the need of miners. Although even with lighting network some trasnactions simply have to go via blockchain. Here is a bit of long post but will get you an better idea and overview of what it is https://letstalkbitcoin.com/blog/post/the-lightning-network-elidhdicacs Hopefully I haven't confused you about this.



Other options are that you have some lets say cryptocurrency that have POS algorythom which stands for proof of stake, bitcoin uses proof of work aka POW which requires miners. With POS coins however your coins stake which in short means that you receive coins depending on the fixed % and on how many you have currently have in your wallet. So for example if I have x100 of a particular coin and stake presentage for the year is like 10% I will earn like 110 at the end of the year - this is just to illustrate you other way around but for this however you will not use bitcoin...

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