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December 12, 2024, 09:51:43 PM *
News: Latest Bitcoin Core release: 28.0 [Torrent]
 
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Author Topic: Bitcoin Core 0.21.0 Released  (Read 3853 times)
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March 30, 2021, 04:31:12 PM
 #21

Hello. Can someone explain the beauty of this bitcoin core? Why is it not easier to use online - the same paxful and others. I tried to install bitcoin core - synchronization took 4 days, everything is buggy because of this. And what kind of super functionality I did not see? Security?
Bitcoin Core is a full node. It downloads and verifies all blocks and transactions. Additionally, it is a wallet software so all of your private keys are generated, stored, and managed by Bitcoin Core if you use its wallet.

Bitcoin Core is more secure and private than online wallets. Those wallets may also be custodial wallets where your Bitcoin is held by the service provider and they just promise to send the Bitcoin when you ask for it to be sent somewhere. Those web wallets are not private - the service provider can see all of your transactions and associate those transactions to you. They can do this trivially. Additionally, if they go offline, go out of business, or stop operating for whatever reason, your Bitcoin is lost. Bitcoin Core does not have those problems. If Bitcoin Core is no longer being developed, you can still use the software that you have downloaded and installed. Because Bitcoin Core is a full node, it is much harder to know which transactions are yours because your node will be receiving and sending all transactions on the network. Any that are yours blends in with the crowd of other transactions being relayed by Bitcoin Core.

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