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Bitcoin Magazine
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June 07, 2014, 11:06:14 PM |
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The bitcoin network needs more full nodes. If you own a computer, and arent running a full node, Id like to hear why. Its no secret that most people who are mining are simply submitting shares to pools, and dont actually run the full Bitcoin software (this goes for alts as well). This declining node trend decreases the security and reliability of the Bitcoin network. More nodes means more security. Download it here: https://bitcoin.org/en/downloadwell it's no secret that my gridseed miners are pieces of crap and need to be plugged in and out each f*cking time i mine. |
i am here.
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Bitcoin addresses contain a checksum, so it is very unlikely that mistyping an address will cause you to lose money.
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helipotte
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June 08, 2014, 06:33:24 AM |
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How do you do this with only a 30Gb disk. I just checked the blockchain size on my node and it is 30.1Gb. The blockchain has gotten huge! |
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DrG
Legendary
 Offline
Activity: 2086
Merit: 1035
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June 08, 2014, 06:43:12 AM |
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I was running a full node until AT&T's new contract throttled me back to 250GB/mo  |
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zvs
Legendary
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Activity: 1680
Merit: 1000
https://web.archive.org/web/*/nogleg.com
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June 09, 2014, 05:23:54 AM |
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How do you do this with only a 30Gb disk. I just checked the blockchain size on my node and it is 30.1Gb. The blockchain has gotten huge! the full blockchain is around 22GB. you may still have the old blk* files around that were rendered obsolete a year or so ago bitcoin consumes around 3-4TB upstream a month for me, with 700 connections |
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Harley997
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June 11, 2014, 02:48:39 AM |
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I am running a full node from here.
With that being said there are a lot of disincentives to run a node. It takes a long time to download the blockchain (it is over 18 GB now). Once the blockchain is downloaded it will take up a lot of bandwidth and CPU capacity.
Most people that run a full node today are people who wish to see Bitcoin succeed and believe in Bitcoin. Over the long term the capacity of the network in terms of TX per second will need to be increased in order to keep it from outgrowing itself and to allow for miners to receive sufficient block rewards to keep mining profitable.
When more TX per second are allowed on the network then the CPU and bandwidth needs of nodes will increase and the number of nodes will decrease. The solution to this is to give a financial incentive to run a full node. One possibility as to how to do this would be all nodes that have at least x connections would get y% of each block reward.
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kuverty
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June 12, 2014, 06:27:39 PM |
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But I am, I even tell that under my nick. Edit: seems like I'm not telling that... I'm just telling others to do so. Anyway I run one. Easy instructions for running a node like that would be appreciated. I guess there would be a a few dozen people doing that, since there is still capacity to run other, basic stuff like IRC there. |
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zvs
Legendary
Offline
Activity: 1680
Merit: 1000
https://web.archive.org/web/*/nogleg.com
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June 12, 2014, 08:33:49 PM |
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But I am, I even tell that under my nick. Edit: seems like I'm not telling that... I'm just telling others to do so. Anyway I run one. Easy instructions for running a node like that would be appreciated. I guess there would be a a few dozen people doing that, since there is still capacity to run other, basic stuff like IRC there. Download the source, follow the instructions in build-unix.md. Turn off the wallet. Upload the blockchain and use bitcoind -reindex or redownload it all and put listen=1 in the conf file and open port 8333.. |
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Syke
Legendary
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Activity: 3878
Merit: 1193
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June 12, 2014, 08:37:13 PM |
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Easy instructions for running a node like that would be appreciated. I guess there would be a a few dozen people doing that, since there is still capacity to run other, basic stuff like IRC there.
$ sudo apt-get install bitcoind * create ~/.bitcoin/bitcoin.conf with "rpcuser=something" and "rpcpassword=somethingcomplex". $ bitcoind -daemon |
Buy & Hold
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1369
Legendary
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Activity: 1623
Merit: 1067
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June 12, 2014, 08:57:23 PM |
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I use these guys to run a Trollcoin node for $2.50/month with their promo. https://www.vultr.com/pricing/The $5/month package is more than sufficient and they'll match your pre-payment up to $100, so I got 80 months of service for $100 This is for alt coins tho since I only get 15gigs storage at that price. |
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Newar
Legendary
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Activity: 1358
Merit: 1000
https://gliph.me/hUF
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June 13, 2014, 04:22:07 PM |
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Este Nuno
Legendary
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Activity: 826
Merit: 1000
amarha
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June 14, 2014, 06:23:33 PM |
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Lots of countries and providers are very tight when it comes to bandwidth.
For most people the only realistic option is to rent a private server and set one up that way. But a lot of people don't want to do that.
I've seen some people who have extra servers donate them as full nodes. I guess one problem is the lack of compensation.
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Harley997
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June 15, 2014, 07:11:13 AM |
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Lots of countries and providers are very tight when it comes to bandwidth.
For most people the only realistic option is to rent a private server and set one up that way. But a lot of people don't want to do that.
I've seen some people who have extra servers donate them as full nodes. I guess one problem is the lack of compensation.
I think over the long run most full nodes will be run on servers and/or dedicated machines. I think that full nodes will need to be compensated once the amount of TXs increases enough. |
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tl121
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June 16, 2014, 02:41:24 AM |
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I run a computer out of my home office that is connected via a DSL line. I have been running a full bitcoin node for a few months and I figure that it hasn't cost me anything out of pocket, just my time to set it up and monitor it. I was already running the computer 24/7 and have terabytes of disk storage and running the node seems to take a few percent of my CPU time and a few percent of my bandwidth.
I did run into two problems when I first opened up port 8333. First, my router got horribly clogged up with connections, so I configured bitcoin core to limit the number of connections to 12. Second, I saw that other network applications such as web browsing and video watching slowed down. I fixed this problem by configuring a QoS policy in the computer running bitcoind that limited the upstream bandwidth of bitcoind to 20% of my DSL upload bandwidth. This has no effect on the operation of the bitcoin network while doing normal transactions and receiving and relaying blocks. It does prevent my network from clogging up if a Newbie is downloading the entire block chain and happens to latch onto my node.
I don't know how long this will be practical. I don't see the computer end as a significant cost as I will probably be getting a new computer well before the one I am using starts being overloaded by increasing bitcoin traffic. I am more concerned with network bandwidth, as my upload bandwidth is rather pathetic and it's not clear when it will be possible to get better network service. My local ISP is (slowly) adding fiber service to more of its customers.
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