Bitcoin masternode

[thereverend2u]

Ok so I am trying really hard to fund a very worthwhile animal rescue and figured why not put the server I have in a rack that is not doing anything to good use and use it to run a masternode for bitcoin. I can not find ANYWHERE how to do this, furthermore I am looking for someone out there to help me along the way implement this. A little something about my server

Physical Server 2U unit DELL power Edge
8TB storage
Static IP

so it's the real deal. If you can help me get this up and going so I can generate some funds for the rescue I would be so very happy.
and you would be doing a great thing to help save the lives of animals. Thanks in advance.

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[BitMaxz]

Are you talking about a full node? or are you planning to start to have a lightning network server?

Or you are talking about a Masternode where you can be rewarded by hosting a full node? If this is what you are talking about then there is no such thing as Bitcoin Masternode where you just need to require a minimum amount of coins(To activate the masternode) and be rewarded.

Running a full node on Bitcoin won't give you benefits even you hold a large amount of bitcoin.

That's why you can't find any guides on Google or anywhere because there is no Masternode Bitcoin.

I can give you a sample of the coin that you can run a Masternode and be rewarded.

Dash coin is one of the samples of altcoins that you can run a Masternode.
Check their guide from here Manual installation of Dash MAsternode

To get more idea how to run a Masternode coin much better go to Altcoin discussion and make a new thread there about Masternode coin.

[thereverend2u]

Ok so if this does not exist then who gets the funds that your charged when you transfer the funds from me to you say?

Are you talking about a full node? or are you planning to start to have a lightning network server?

Or you are talking about a Masternode where you can be rewarded by hosting a full node? If this is what you are talking about then there is no such thing as Bitcoin Masternode where you just need to require a minimum amount of coins(To activate the masternode) and be rewarded.

Running a full node on Bitcoin won't give you benefits even you hold a large amount of bitcoin.

That's why you can't find any guides on Google or anywhere because there is no Masternode Bitcoin.

I can give you a sample of the coin that you can run a Masternode and be rewarded.

Dash coin is one of the samples of altcoins that you can run a Masternode.
Check their guide from here Manual installation of Dash MAsternode

To get more idea how to run a Masternode coin much better go to Altcoin discussion and make a new thread there about Masternode coin.

[HCP]

Ok so if this does not exist then who gets the funds that your charged when you transfer the funds from me to you say?

The miners get the transaction/network fees from all the transactions included in a block when they mine it... the fees gets paid out along with the block reward in the coinbase transaction.

For instance, the latest block:


You can see they got 7.29203853 BTC... block reward is now 6.25 BTC... so they got around ~1.042 BTC in transaction fees from all the transactions included in that block.

[pooya87]

master node is for centralized altcoins that usually have huge pre-mine amounts and also have algorithms other than proof of work (anything that doesn't involve mining). additionally it is usually very hard for regular users on PCs to run the actual full node of such altcoins due to many issues they have. so a centralized data center is needed to run such master nodes and get paid for it.
in bitcoin, any individual on a regular PC and a decent internet connection can run an actual full node. and since bitcoin works based on Proof of Work there is no reward for nodes. as @HCP said the fee goes to miners. think of miners as the "workers" that are getting paid to perform a hard task. nodes are hiring miners and keeping them in line by enforcing the bitcoin rules and keep the network decentralized at the same time.

[bitmover]

Ok so if this does not exist then who gets the funds that your charged when you transfer the funds from me to you say?

You are using the wrong names.

There are no masternodes in the bitcoin network.

You are talking about miners, and it looks like you are trying to use an equipment to mine.

As you understand so little about bitcoin, this equipment probably isn't going to help you. To make money through mining you need a very expensive and specific equipment, called mining rig.

[thereverend2u]

Well I have learned quite a bit here.

Thank you all for the info. I was just trying to do some good with equipment I already have.

Would anyone be interested in renting a VM from me or helping me raise funds for an Animal Rescue ?

[BitMaxz]

Well I have learned quite a bit here.

Thank you all for the info. I was just trying to do some good with equipment I already have.

Would anyone be interested in renting a VM from me or helping me raise funds for an Animal Rescue ?

I don't know if there is someone could take this offer but I have some suggestion if you still want to earn even a low amount. Have you heard about the Lightning Network?

I think you can earn from running a lightning network in your machine and earn from the fees.

Learn more about the lightning network from here below

Awesome Learning Source:
- A curated list of awesome Lightning Network projects for developers and crypto enthusiasts
- Awesome Lightning Network

Ways to earn with Lightning Network:
- 7 Ways to Potentially Make Money with the Lightning Network
- Make money with Lightning Network(Full node)

[hugeblack]

I think you can earn from running a lightning network in your machine and earn from the fees.

It's best not to think of running a Lightning node as a way to make money, it is a way to help the network to make payments so that the node fees must be set at a sufficiently low level so that transactions are directed through it while continuing to make a profit.

I will quote you some notes about managing such nodes and profits:

@Alex Bosworth from @lightning

I'm pleasantly surprised that there is now so much activity on Lightning that my own little node is now routing more than $10,000/month.
I don't have any idea what these transactions are related to.
I'm getting paid 0.25% for routing.
It's all happening way faster than I expected

I have a well established node with lots of channels and competitive relay fees.

In the last month it collected 175 satoshis in fees. That's worth less than $0.01 US.