Should I, we, run a bitcoin node?

[bkelly13]

A few days ago I found an article that stated the number of bitcoin node has dropped from some high value, something like 40,000 nodes (but I did not take careful note), down to something like 10,000 nodes.  Then again, this site:  Bitcoin network node count sets new all-time high (cointelegraph.com), dated JUL 15, 2021,  states that for the first time the node count has exceeded 13,000.  Maybe that 40,000 count was something I misread.

Side thought, found this site:  Tor-enabled Bitcoin nodes are back after bug on network (cointelegraph.com) that mentioned as many as 25% of the Bitcoin nodes run on TOR.  
Why use TOR for a Bitcoin node?

Back to the main topic.

I have a basic, only very basic, concept of the need to run a node.  This includes the need to make the entire Bitcoin system resilient and prevent a 51% attack.  That attack would be rather difficult to do right now, but if the node count drops, might become a problem.

This site presents some advantages of running a full note:  Why should I run a bitcoin node? — 7 reasons - Unchained
https://unchained.com/blog/why-run-bitcoin-node/#:~:text=7%20reasons%20to%20run%20your%20own%20bitcoin%20node,...%207%207.%20Increase%20your%20bitcoin%20knowledge%20

Edit, when first posted, the link did not work out well.  Just edited to add that link and test it.

But there are no direct advantages.  No minor amount of Satoshis seem gained, meaning no financial gain.  The disadvantage is the cost of the computer and storage space, and the cost of electricity and cost to cool my house.

Still, I am considering it.  The tentative plan is to buy a five year old (about) computer, install about 8 or 16 Gig of memory, Maybe a Terra byte drive for the OS and the node code, then a raid of SSD Terra byte drives for the block chain.  (I presume the block chain changes little so SSDs will last quite a while and use less power.  Make it a RAID-5 (not positive) in the event that when one drive fails it can easily be replaced with no loss of data.)  This will not be my daily use computer and will be dedicated to the node.

To the question:  Have you considered running a Bitcoin node?  Why did you or why did you not start a node?  If you are running a node, private or working for a company, have you any important thoughts to share?

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[Findingnemo]

 
Why use TOR for a Bitcoin node?

For enhanced privacy, when you are connected to other nodes your IP will be exposed which can be a threat to your privacy.

But there are no direct advantages.  No minor amount of Satoshis seem gained, meaning no financial gain.  The disadvantage is the cost of the computer and storage space, and the cost of electricity and cost to cool my house.

There is no financial gain but you can't say there is no direct advantage while running your own node, cause you don't need to rely to 3rd party to validate your transaction. Also when you run your own node the privacy of the address and transaction history seems to be more valuable than few sats.

prevent a 51% attack.

AFAIK, nodes have no role in the 51% attack, and it's completely related to the hash rates of miners which confimrs the transactions but nodes have the ability to validate which makes high decentralized when the number of running nodes is higher.

[bkelly13]

...
There is no financial gain but you can't say there is no direct advantage while running your own node, cause you don't need to rely to 3rd party to validate your transaction. Also when you run your own node the privacy of the address and transaction history seems to be more valuable than few sats.

I don't understand something here.  When I use an exchange, such as Coinbase, they do all the work. Or at least get it started. When I use a wallet, such as Trezor, the request is submitted to the Bitcoin network and some number of the Bitcoin nodes validate the transaction.  In the response you wrote, I get the hint that I might need to do something more to validate the transaction.  Please explain a bit more.

[Zaguru12]

I don't understand something here.  When I use an exchange, such as Coinbase, they do all the work. Or at least get it started. When I use a wallet, such as Trezor, the request is submitted to the Bitcoin network and some number of the Bitcoin nodes validate the transaction.  In the response you wrote, I get the hint that I might need to do something more to validate the transaction.  Please explain a bit more.

What he meant was that those wallet or exchange that you use to broadcast your transactions rely on third party nodes to validate your transactions and this will hinder your privacy because your IP address can get exposed, there by exposing your physical location. With your personal node you wouldn’t also rely on block explorers to verify the status of your transaction, because with your personal node you have the entire blockchain stored except if it is a pruned node and not a full node

[stompix]

I have a basic, only very basic, concept of the need to run a node.  This includes the need to make the entire Bitcoin system resilient and prevent a 51% attack.  That attack would be rather difficult to do right now, but if the node count drops, might become a problem.

The 51% attack refers to hashrate!
You can have 100 000 nodes and the attacker only one, if he has more rate than the rest of the network he can attack it.
What multiple nodes can prevent is a sybil attack.

But there are no direct advantages.  No minor amount of Satoshis seem gained, meaning no financial gain.  The disadvantage is the cost of the computer and storage space, and the cost of electricity and cost to cool my house.

There are no direct financial advantages! A slight difference to no advantage at all, which weirdly enough are listed on that article you linked.
Also, cooling your house from running a node? Common!  

[FatFork]

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The disadvantage is the cost of the computer and storage space, and the cost of electricity and cost to cool my house.

You can run Bitcoin node even on a Raspberry Pi or similar computer hardware. The power consumption of a Raspberry Pi is approximately 4W, which is on par with a standard home Internet router. And no, there's no need for special cooling in your home because of such a device.

[bkelly13]

Ok, I was a bit overboard on the power and cooling.  On the other hand, a Raspberry Pi cannot run a full node with the entire block chain.  But no reader has admitted to running a node.  I would really like to hear thoughts and comments from someone running a full node.

[FatFork]

Ok, I was a bit overboard on the power and cooling.  On the other hand, a Raspberry Pi cannot run a full node with the entire block chain. 

Why would you think that? Of course it can. But if you want to run a Bitcoin node even cheaper, you can check out this guide.
[Guide] How to run a Bitcoin Core full node for under 50 bucks!

But no reader has admitted to running a node.  I would really like to hear thoughts and comments from someone running a full node.

I admit, I've been running a Bitcoin Core full node for well over a year now. 

[apogio]

On the other hand, a Raspberry Pi cannot run a full node with the entire block chain.

An RPi can definetely run a full node. You only need to add an SSD to store the blockchain.

To the question:  Have you considered running a Bitcoin node?  Why did you or why did you not start a node?  If you are running a node, private or working for a company, have you any important thoughts to share?

I am running 2 bitcoin full nodes:

1. I run umbrel on a raspberry pi 4 model B with 8 GB Ram. I connect to it via TOR, which umbrel makes very easy.
2. I run a custom node on another device. When I say custom, I mean I installed Bitcoin Core and ElectrS and I install manually anything I want to add to it. I have set TOR, so I connect to it via TOR.

You should be running a node for privacy. You will never be private if every interaction you have with the Bitcoin network happens through another person's electrum server.

You should be running a node to help the network too. One more node setting the rules of the network and have a clear picture of the blockchain is a good thing.

[Accardo]

...
There is no financial gain but you can't say there is no direct advantage while running your own node, cause you don't need to rely to 3rd party to validate your transaction. Also when you run your own node the privacy of the address and transaction history seems to be more valuable than few sats.

I don't understand something here.  When I use an exchange, such as Coinbase, they do all the work. Or at least get it started. When I use a wallet, such as Trezor, the request is submitted to the Bitcoin network and some number of the Bitcoin nodes validate the transaction.  In the response you wrote, I get the hint that I might need to do something more to validate the transaction.  Please explain a bit more.

Bitcoin nodes play vital roles in the verification of transactions in bitcoin network. Verifying and adhering to the consensus rules set aside to guide transactions and blocks is the main or primary duty of a bitcoin node. In line with what he said, your node will participate in going through all transactions and block to determine if they'll be accepted to join the block with the most chain work; honest block. You're not required any task. It's left for miners to add new transactions to the blockchain. While the node verify if the transactions are eligible to be included to the block; before agreeing to add them in the blockchain. Nodes follow the block with the most work, which creates a possibility for 51% attack. But, it's almost impossible for a single individual or institution to possess a computing power that is more than all the computers used by miners across the globe, that can validate a block's difficulty; the number of hash-rate required to mine a block. Even possessing 39% of the computing power can perform a 51% attack thereby enforcing double spending. When a node sees such a block from a suspicious miner it'll involuntarily accept it to the block as the block with the most work and the miner can take the advantage of reversing his funds or double spend.

[Catenaccio]

Running a Bitcoin full node will help you to secure your privacy and anonymity. By using Tor to hide your IP address, don't rely on other nodes to broadcast your transactions and I am sure with a wallet software that can be used to run a Bitcoin full node, you can use Coin control feature so that you can have anonymity too.

[Guide] How to run a Bitcoin Core full node for under 50 bucks!

[franky1]

...
There is no financial gain but you can't say there is no direct advantage while running your own node, cause you don't need to rely to 3rd party to validate your transaction. Also when you run your own node the privacy of the address and transaction history seems to be more valuable than few sats.

I don't understand something here.  When I use an exchange, such as Coinbase, they do all the work. Or at least get it started. When I use a wallet, such as Trezor, the request is submitted to the Bitcoin network and some number of the Bitcoin nodes validate the transaction.  In the response you wrote, I get the hint that I might need to do something more to validate the transaction.  Please explain a bit more.

when you log into coinbase. you are not logging into any network. you are viewing coinbase website data. which they can remove your access to or manipulate the data or be hacked. yep the balance you see in coinbase is not of soe locked coins with your name on.. the coins you deposited into coinbase get co-mingled with other customers and become coinbases assets in their cold wallet. none of the coins in their cold wallet have your name on it. #not-your-key-not-your-coin

by you having coin on a key which only you have the privat/secret/seed to control signing movements of. you control the funds. and then to ensure no one can edit a database/ledger of who has what. having access to the decentralised immutable blockchain means you are sure the data is clean and shows you own the funds

running a node removes the middleman. you can inspect the data, analyse the data without concern that someone is telling you lies
knowing you can independently see transactions destined to you arrive is more confident then relying on a third party that makes mistakes, gets hacked, cheats, lies, or simply ignores or disavows access

[NotATether]

...
There is no financial gain but you can't say there is no direct advantage while running your own node, cause you don't need to rely to 3rd party to validate your transaction. Also when you run your own node the privacy of the address and transaction history seems to be more valuable than few sats.

I don't understand something here.  When I use an exchange, such as Coinbase, they do all the work. Or at least get it started. When I use a wallet, such as Trezor, the request is submitted to the Bitcoin network and some number of the Bitcoin nodes validate the transaction.  In the response you wrote, I get the hint that I might need to do something more to validate the transaction.  Please explain a bit more.

Transactions are automatically validated by the node without you having to do anything. Invalid transactions are rejected and dropped - these will not get confirmed.

The wallet software is responsible for making sure that the transactions which it broadcasts to the network are made in the correct format so that they are valid.

[Yamane_Keto]

In some regions of the world, the option of running a full node is not possible due to the slowness of the Internet, as downloading the blockchain may take several weeks. Here, these people must use SPV wallets, or at least trust a trusted person who manages a full node with a connection via Tor.
If you have the option to manage an entire node, you should do so, not to enhance privacy, but to decentralize the network.

You don't need 1TB SSD for OS and code/software. Although these days SSD with 1/2 or 1 TB capacity have good price/capacity ratio than SSD with lower capacity.

I don't think storage will be a problem as the cost of TB/USD is falling every year and Moore's Law says it will fall even further.

[Plaguedeath]

If you want to make money from Bitcoin, you need to become a miner where you have to buy ASICs instead of run a full node. Running a full node make Bitcoin become more decentralized because it's add a new participant which is you, but it's not mean without you Bitcoin will become centralized.

The effect is almost zero for you, you don't have to run a full node to invest or hold Bitcoin.

[bkelly13]

Presume we are running a full node under some version of Linux. Let's say 2 to 3 Ghz clock rate, 16 Gig of memory, and nothing running but the Bitcoin full node software.  About how much will the CPU be utilized?  Will it be fairly steady?  Or I suspect with significant peaks for each block that is validated and stored? 

I mostly use Windows, but, am quite certain that Linux is much better at this task.

If you are running a full node, please advise as to some of your system specifications.

After the full blockchain has been gathered and stored, what is the average and peak network bandwidth?

Thank you for your time and patience.

[pixie85]

There are node kits available if you want to try with ease. Basically plug and play stuff that guide you step by step through the process.

A node can be an interesting thing to do when you don't have enough money to mine bitcoin but want to be able to say that you actively support the network.

A PI node with a small LCD screen is an interesting decoration and a conversation starter when someone visits you.

There are no direct financial advantages! A slight difference to no advantage at all, which weirdly enough are listed on that article you linked.
Also, cooling your house from running a node? Common!  

There's some money involved if you run a lightning node, but this requires owning bitcoin, so I doubt that's what OP is asking about and what he's able to do at the moment.

[Z-tight]

However, it may not be financially rewarding in the short term, and you should be prepared for ongoing maintenance and costs.

It is not financially rewarding in both the short and long term, running a BTC node isn't for financial reward, it is for a better privacy and security, because you verify everything locally and you don't have to connect to third party servers.

If you want to make money from Bitcoin, you need to become a miner where you have to buy ASICs instead of run a full node.

As a miner, you must run a full node.

The effect is almost zero for you, you don't have to run a full node to invest or hold Bitcoin.

You don't have to run a full node to buy BTC, but if you want better privacy and you don't want to expose your BTC addresses and IP addresses to third parties, you have to run your own node.

[OgNasty]

There was a time when running a node was important, but I don’t think that time is here anymore. Unless you’re running some sort of mining pool or accepting BTC through some sort of automated storefront it doesn’t make a ton of sense to do. It’s more a waste of resources than anything and will likely have a negative effect on your hardware.

[paid2]

There was a time when running a node was important, but I don’t think that time is here anymore. Unless you’re running some sort of mining pool or accepting BTC through some sort of automated storefront it doesn’t make a ton of sense to do. It’s more a waste of resources than anything and will likely have a negative effect on your hardware.

It's interesting, it's not common to read this opinion.  Can you please explain why it should be less important today than in the past?  Do you mean that there are already enough nodes today?

Ideally, shouldn't there be one per user, or as many as possible?