Great video. I’ve been a bitcoin skeptic so trying to educate myself on the subject. From what I understand , eventually everyone will run a node and the bitcoin blockchain will be owned by the citizens of the world, not governments. After watching this video I decided to run my own node and get with the program. Bitcoin is here to stay.
I ordered the parts you listed and I’d like to make it a stand alone sort of hands off system. What computer should I run? I don’t want to use my nice laptop so I was thinking maybe a raspberry pi 4? Is this sufficient with good longevity or would you recommend something else? Thanks!
You misunderstood what Bitcoin is. Bitcoin never has, and never will be owned by ANYONE. Bitcoin is itself... A revolutionary currency and payment system that is sovereign from anything or anyone else.
Thanks for this video. I used this many years ago, as my wallet. I've just set a new node up, out of respect to BTC. Lets all make the network stronger
Thank you Sir. 👍🙏 😮 the only way I could learn something about Bitcoin the way you slowly explained it 😁 😅 ..... You first person that explains it the way I could understand it 😂
It takes some effort but feels good to contribute to the future of bitcoin. I run a full node on Raspeberry Pi5 with 2 TB ssd external disk. I use Citadel to run it.
Great video and perfect timing! I run other nodes on dedicated machines and never realized how cheap it was to run a BTC node, so I'm def gonna run one now. The best part is that at only $110 or so, I can get it "free" for Christmas! Thank you sir!
Great video. I've been nervous about doing this but not anymore. Is there any privacy or other risk with allowing incoming traffic through a router? Should I have a VPN in place first? And since I have a few active computers running, I could just plug in an external hard drive instead of using an old computer or buy the Start9?
@@LiveLife1171 I don't believe opening port 8333 on the router causes any security issues. You cannot have any incoming transactions while using a VPN, I've tried. You should have a vpn available to change your location but it doesn't offer a tremendous security benefit in a lot of cases and in some cases is a security risk. Using a privacy browser like Brave with good privacy setting is all you should need. Check these browser tests to see how you score: cmdns.dev.dns-oarc.net/ and www.cloudflare.com/ssl/encrypted-sni/
At 16:39, the time is actually the seconds, or milliseconds since the 1st of January 1970 in the time zone 0 (UTC). It’s called UNIX Epoch, that’s the incremental number that ticks in every computers
Thank you for making this video. More nodes means greater decentralization for what is obviously the greatest economic (and democratic) innovation in human history. Fun fact: Argentina has more bitcoin nodes (25) than the rest of South America put together. When fiat dies, Bitcoin flies!
Nodes check if the block hash produced by the miners is valid before appending their block to the existing blockchain, so they have a very important (critical) role in securing the bitcoin ledger. It's how bitcoin separates the power between the miners and the network users. I think it's super cool.
I agree. There is a bit of a learning curve but totally worth it. Look into Umbrel (umbrel.com/) if you have an extra computer or Raspberry Pi. You can run a bitcoin AND lightning node on that computer right in your home.
Great video, love the console, could really learn a lot from it. Those in this comments section struggling to understand why to run a node? It's basically for added security and privacy or simply just to support the network.
Thanks, great video man!!! I ran a full node about 8 years ago or so, idk. It was about 85 GB then if I remember correctly. Who knows. Been wanting to run one again for a while. This vid coming up in my feed, I think, is what is going to get me to do it! New mini pcs are very affordable today, as are the 2TB SSDs as you mentioned. I would rather have it on it's own machine doing it's own thing. Small wired pc (not taking wifi bandwidth from others) that I can remote desktop into when needed. I figure for little money I can contribute and help the network that has changed my life, for less bandwidth then a kid uses on social media apps. After initial download, I understand. LFG!!! Take the power back!!! SUBd just saying👊
Thank you!! If you have/get a separate rig to run the node on, consider looking into Umbrel OS to run the node with. I have not used it but it looks really cool. And you can order a pre-loaded pc right from Umbrel (umbrel.com/umbrel-home). They cost $419 and are ready to do as soon as they arrive. You can also run a lot of other apps on the rig. It''s also available for DL free on Github: github.com/getumbrel/umbrel/releases
A fascinating video and discussion, Thanks to all contributors. Interesting that quite a few "donkey and carrot" - people have commented! Well, maybe you try to avoid wasting hot water in order to keep your electricity bill level running a node.... Thinking of installing a node myself in the near future.
Very interesting video but, for a newbie like me that know nothing about wallets, nodes and so on, would a "normal" wallet be better? What would be the advantage of having a wallet on your own node? But I do like the idea of contributing to the bitcoin blockchain!
Yes, I think you should start with a 'normal' wallet designed for 'normies'. Get your bitcoin settled and secure in a good wallet first, then you can start messing around with nodes and Bitcoin Core wallet. Take it slow. Check out ua-cam.com/video/RJlbYzvgEd8/v-deo.html and ua-cam.com/video/pE-yVdRo4iM/v-deo.html.
Thanks for the excellent video. I dont know a lot but, incase you were curious, i did learn that the timestamp is a Unix timestamp. That means it is the number of seconds that have passed since January 1, 1970, in UTC time. Its used in programming I think to eliminate the concern for timezones.
This video was interesting to me in a way I didn’t expect. Correct me if I am wrong, but would running your own node allow you to make your own transactions one might have needed to do on an (KYC policy) exchange?
@ interesting. I am going to be deep diving your stuff. Liked and subscribed. Guessing with your own node you can setup smart contracts to trade btc for other coins. This video feels like it scratched the surface for me and I want more info.
Wow this is great! So I have a Tandem wallet. I only keep Bitcoin on my Tangem wallet so as I understand it I will be much safer by using the node as my BTC wallet. I'm 78 and a bit slow so please confirm that this is correct.😊
Please leave your Bitcoin alone on your Tangem wallet. The node wallet feature is for advanced users only. I really wouldn't bother with running a node unless you're interested in supporting the Bitcoin network. Thank you for watching.
Not to complicate matters but I’d use a Bitcoin only wallet (signing device). Jade, ColdCard, bitbox02, Foundation are a few. The ColdCard Q is a great feature packed and well known wallet that embodies bitcoin only ethos. I applaud you self custody efforts at 78 🫡
Hi i bought 1 xrp coin, and 5 dollars of bitcoin, is worth to steak it , %. will me and mike be able to have sum-fun before we turn 80. with few nods 1 millions from are coins ? so its worth like kg of gold ?
question. i attached a 2tb external ssd to my pc and run the install on that ssd. Is it possible, after downloading the blockchain, to place that ssd on another pc and run it from there?
The application would generally reside on your main machine and you tell it the blockchain database is on the external drive. So, on the next machine you just install the node software on the main drive and point it to the accessory drive for the blockchain database.
@SVRNMoney Everything went fine. blockchain downloaded in 2 days. But cant get any incoming connections. opened 8333 on the modem but still nog connection on that port. Running unifi internally. Do you know what to do?
The nodes don't have mining capabilities. They assist the miners but collecting transaction in whats called the "mempool". They also verify confirmed transactions making sure they don't 'double spend'. I have a video on mining at home with a $65 investment here: ua-cam.com/video/vMmV0vih7Yw/v-deo.html Thanks for watching!
@SVRNMoney More interested in the “solo mining” commented below while running your node. Would be great content video and even more if you make it with screen images.
Thanks for the useful guide. Really interesting to see how nodes are run. Good clear video and audio. Would you mind listing your setup specs? Camera, mike and video annotation software?
I have a VERY humble setup. I am recording on my Macbook Air M2, with a USB external mic using Screenflow. I do some simple editing before passing it on to my super talented editor (my wife) who puts it all together using CapCut (free version).
I believe that's a miner. I'm unable to do something like that. But if you can contribute to the decentralization of mining around the world, I would say GO FOR IT! You never know if you'll win a block either.
So I have a question do u get btc for running a node to help pay for the power and internet payments if they want us to run nodes do u get paid to do so ? I'd be up to run 1 or 2 but need to know wether it's worth it ?
Still not sore why I would want to create my own node, other than the “cool” factor. Are you saying instead of keeping my BTC on a cold wallet, that I can use this instead?
he literally had an entire segment listing out why you want to run a node starting at 3 mins 10. You don't keep Bitcoin on your cold wallet, you keep the private keys.
Remember people, wallet is a confusing term. We should be calling them signing devices as that is all they do. Store the private keys to your bitcoin which resides on the blockchain. Your private keys sign transactions that allow you to move your bitcoin. Also, store your 12 or 24 word seed phrase on durable metal (stampseed is an option) and hide those puppies away. Never let any camera or recording device around when writing them down either!!
You could do that, but it would be considerably less secure. I don't use the wallet on my node. Stick with the cold hardware wallet. But... you can hook up the wallet software you use to your node instead of the default node it would otherwise use. This requires a bit more work, but then you get that privacy aspect and self-verification.
Hi if I run a node it will certainly cost me some electricity bill to keep it running in addition to the hardware requirements. Will it give some monetary incentives like a bitcoin miner do?
Running a node doesn't enhance your own privacy by hiding it amongst all the other transactions. Everything can be traced back to you if they try hard enough
Yes, one of the drawbacks of the Bitcoin chain. Not very private. Using a node enhances privacy over using a public server because that transaction can be (is) labeled with your IP address when you submit it to the server.
I went to do this about two years ago and a UA-camr mentioned it would coast about $40 a month to run a node, so I held off. How much would you say it costs?
I would say it costs next to zero using an external drive on your computer. The expense is in leaving the computer up and running all the time. Using something like a Raspberry Pi 5 might keep the running costs to a bare minimum.
@@qkb3128 I don't mind not getting paid, or even having to pay a little. But the $40 a month estimate I saw on another vid was disheartening. I might try it with an external drive like SVRN said, and just let the node sync whenever I'm online, which is fairly frequently. We'll see how it goes!
Speaking from law enforcement perspective (or how to run away from law enforcement perspective), the node recorded the connected IP addresses. When submitting a transaction to the Blockchain, is there any way to know to which node(s) my transaction was submitted? If yes, would it be possible for the law enforcement agency to enquire with the node holder for my IP?
If you are using a third party node, as far as I understand, your IP address is being recorded with the transaction and would technically be available to law enforcement. If you use your own node it is not (I believe). I'm not sure what effect using a VPN may have on that. And in many cases, it's just not convenient or possible to do use one.
nah, there's no point in lightning if it depends on the base layer to be fully connected all the time. Just use BSV, it's the original bitcoin protocol without the temporary restrictions on block size or op codes. You don't need segwit or taproot for it to work perfectly as originally designed. Just get a large solid state and RAM computer and you can run a BSV node or just get an SPV wallet, certify the transactions based on the evidence given in the transactions themselves.
@@TimJSwan BSV has no protection against transaction malleability. Absolutely all transactions are public and viewable on the blockchain. No onion-routed private transactions. If it is the original code, does this mean they took out hierarchical deterministic wallets, too?
Great video, in some time i heard about it but i did not pay attention of, im in this since 2016, i will contribute with mine, i all ready had a computer to do this important job, ill be waiting for the next video of the wallet sounds very interesting thing to learn, BTW, greetings form Mexico 🇲🇽
Great explanation. Are there any hosting companies that one can pay to host a node? I run a business from home - can’t risk the network traffic being a disruption. But I’d like to contribute to the BTC cause.
If you have anything other than dial up, after the node is synced, the network trafic is minimal. You coudl look into Linode. I'm not sure if they allow that.
When yours and everyone else's node verifies transactions, what does that really mean? Do the nodes go and start validation from the Genesis up to now? Do they only do recent one? Does a node say 'I'm doing this one, don't waste your time, go do that one.'? Where does it announce it's results? Does it really hammer the disk, and can you throttle the disk activity to take longer to validate?
After a block of transactions is confirmed, the nodes verify the transactions in the block for accuracy and to eliminate any possibility of double-spend. The also maintain the mempool which holds the transactions waiting to be picked for a confirmation block by the miners. Once a block is final, after 6 confirmations, the nodes ignore it basically. ALL the nodes work on the same blocks and talk back and forth with each other to compare notes and assure accuracy. The results are "announced" on the blockchain itself. You can see the progress at mempool.space. I'm sure there is some wear and tear on the disk, yes, but that's the cost of running a node. No way to throttle that.
Great video. I was running a bitcoin node using an external hard drive and there was a disruption due to power failure. How do I resume from the block where it stopped.
It should pick up right where it left off. It checks with other nodes and syncs with them so if you're short, it should just request the block data and catch right up. You shouldn't need to do anything special.
Thanks a ton for putting this together! So newbie question: How to configure a miner (like a solo bitaxe miner) to solo mine connecting to your own bitcoin core node? is that possible? Thanks!
I downloaded node software but it wouldn't install. I just got errors. I assume it was because I was trying to install on the D drive and not on a C drive.
Boy, I'm not sure about that. You can run a node on any computer, and any tow computers can be connected, so....I guess you could do that. I'm not sure what the advantage would be.
Even if you have your own node your wallet touched a KYC account at some point. Just have to track that wallet to see what you do even on your own node, right?
Yes, 100%. Check out ua-cam.com/video/REEpl06Fh3k/v-deo.html and ua-cam.com/video/0lEXc3pA5LY/v-deo.html if you want to explore really private bitcoin.
It make BTC MORE private. It'll never be PRIVATE in it's current form. Well, actually, i have several videos on my channel about Liquid network privacy and Wasabi Wallet you should check out if you want real privacy.
?? So I get it that all the transactions are stored on the node but what good is having a node if you can't buy or sell your BTC without using an exchange?
you would need to mine btc and use your node wallet to receive what is mined or without mining you could send any received or purchased btc through a mixer network before sending to the node wallet
Gosh I've downloaded a full node but cannot get it to support the network. I've watched videos and messed around inside the router setting a static ip address for this machine but it still will not show as fully running in bitnodes. I'm afraid this might be above my skill level.
This is a problem with allowing incoming connections. Make sure the box is checked to allow them. Beyond that it's all in the port configuration in the router. At least that's my experience. Keep trying!
I suppose you could have a friend DL the blockchain for you on a spare drive of yours and then use that drive to operate your node. Yes, I think that would work. Provided you are using the same software to access the node that he used to download it.
If they are all part of the same seed phrase wallet, you can enter the seed into a seed generation software (offline) and generate a list of addresses for that seed phrase. If they are from different wallets, I don't believe that's possible. Maybe there is some sophisticated hardware that can do that, but I'm not aware of it. Good luck!
@@OmarNAJA-pi8sr Ahhhh, that information is available on blockchain analysis sites. You can start here (studio.glassnode.com/charts/addresses.ActiveCount?a=BTC) or here (charts.checkonchain.com/?) or here (cryptoquant.com/asset/btc/summary).
Oh, and what happens if your node is powered off for a week or so? Does it try to sync up its copy, or does the network say, 'mmm nope, bring down a pristine copy.'? And when it pulls down a new copy, does it do so using something like a bittorrent? And say I have 5 nodes that I want as miners - can they all use the single bc download (asssuming I have a cluster properly set to use a shared volume)? Can I have nodes that only mine, but don't interact with the blockchain except to upload my miner's result? Can I have nodes that just validate, but don't mine? Etc, etc? Edit...ohhhh, this isn't about mining - ok, well that answered a couple questions :)
Whew. Miners are nodes with advanced software that allows them to attempt to solve the math problems in the bitcoin code to potentially win the block and receive the block rewards. That is a WHOLE different animal than a simple node, which is just a copy of the bitcoin blockchain transactions. Yes, if you unplug for a week, it will simply catch up by re-syncing the missing transactions and you're good to go. It doesn't need the data it already has. Hope that helps.
You can probably give them the IP address of your node if it's on a separate computer and they could connect from their home. Might take some configuring. Otherwise you can certainly lend them the drive or make a copy for them to use as an external drive on their system.
This is, perhaps, the best presentation of this subject I've seen thus far. Thank you for this.
Thank you for watching!
Great video. I’ve been a bitcoin skeptic so trying to educate myself on the subject. From what I understand , eventually everyone will run a node and the bitcoin blockchain will be owned by the citizens of the world, not governments. After watching this video I decided to run my own node and get with the program. Bitcoin is here to stay.
Successfully Orange-pilled! Yes, and welcome aboard! 🛳️
The US govt is going to buy 5% of total Bitcoin supply. It will be owned by large gouvernements and corporations eventually.
I ordered the parts you listed and I’d like to make it a stand alone sort of hands off system. What computer should I run? I don’t want to use my nice laptop so I was thinking maybe a raspberry pi 4? Is this sufficient with good longevity or would you recommend something else? Thanks!
You misunderstood what Bitcoin is. Bitcoin never has, and never will be owned by ANYONE. Bitcoin is itself... A revolutionary currency and payment system that is sovereign from anything or anyone else.
@@jimpetersen8180 hi yes you can any old or new and can use raspberry p4
Finally we have a REAL Adult in the space.......Fantastic Summary and Delivery....
Thank you!!! I appreciate the support!
Thanks for this video. I used this many years ago, as my wallet. I've just set a new node up, out of respect to BTC. Lets all make the network stronger
Welcome back to the network!
thx! talking with my son now about running a node!
"North Korea - I don't know what's going on there.." That was hilarious:)
Finally! Someone gets me!
Thank you Sir. 👍🙏 😮 the only way I could learn something about Bitcoin the way you slowly explained it 😁 😅 ..... You first person that explains it the way I could understand it 😂
Thank you! I'm glad I could help!
This is the first time I’ve heard of it, it’s a lot of things to learn, it sounds a bit much to me 😱😱
It takes some effort but feels good to contribute to the future of bitcoin. I run a full node on Raspeberry Pi5 with 2 TB ssd external disk. I use Citadel to run it.
Great setup!
Great video and perfect timing! I run other nodes on dedicated machines and never realized how cheap it was to run a BTC node, so I'm def gonna run one now. The best part is that at only $110 or so, I can get it "free" for Christmas! Thank you sir!
It's my pleasure!
Great video. I've been nervous about doing this but not anymore. Is there any privacy or other risk with allowing incoming traffic through a router? Should I have a VPN in place first? And since I have a few active computers running, I could just plug in an external hard drive instead of using an old computer or buy the Start9?
@@LiveLife1171 I don't believe opening port 8333 on the router causes any security issues. You cannot have any incoming transactions while using a VPN, I've tried. You should have a vpn available to change your location but it doesn't offer a tremendous security benefit in a lot of cases and in some cases is a security risk. Using a privacy browser like Brave with good privacy setting is all you should need. Check these browser tests to see how you score: cmdns.dev.dns-oarc.net/ and www.cloudflare.com/ssl/encrypted-sni/
At 16:39, the time is actually the seconds, or milliseconds since the 1st of January 1970 in the time zone 0 (UTC). It’s called UNIX Epoch, that’s the incremental number that ticks in every computers
Thank you for sharing that interesting fact!
Thank you for presentation this. You are part of the people of our world who are promoting peace and prosperity and happiness and freedom. Thanks.
Awwww. Thank you!
Great video, thx for sharing and all the best growing your Channel!
Thank you for the compliment and thanks for watching! Check out my other videos too!
You help keep the Bitcoin network safe, secure and decentralized. That’s enough for me. The privacy improvements are a bonus.
Author is really educated. Even I didn't think of it as being a citizen of a democratic virtual state.
Thank you for making this video. More nodes means greater decentralization for what is obviously the greatest economic (and democratic) innovation in human history. Fun fact: Argentina has more bitcoin nodes (25) than the rest of South America put together. When fiat dies, Bitcoin flies!
Preach!
Nodes check if the block hash produced by the miners is valid before appending their block to the existing blockchain, so they have a very important (critical) role in securing the bitcoin ledger. It's how bitcoin separates the power between the miners and the network users. I think it's super cool.
Me too!
I think this is the main reason for running a node; its the third pillar to decentralize power away from miners and software developers.
This a great video. I feel like looking into running a node of my own. The learning experience alone is worth it.
I agree. There is a bit of a learning curve but totally worth it. Look into Umbrel (umbrel.com/) if you have an extra computer or Raspberry Pi. You can run a bitcoin AND lightning node on that computer right in your home.
So cool - thanks for demystifying the whole node thing.. I'm definitely going to run one!
Go for it! Thanks for watching!
Great video, love the console, could really learn a lot from it. Those in this comments section struggling to understand why to run a node? It's basically for added security and privacy or simply just to support the network.
Exactly!
Thanks, great video man!!! I ran a full node about 8 years ago or so, idk. It was about 85 GB then if I remember correctly. Who knows. Been wanting to run one again for a while. This vid coming up in my feed, I think, is what is going to get me to do it! New mini pcs are very affordable today, as are the 2TB SSDs as you mentioned. I would rather have it on it's own machine doing it's own thing. Small wired pc (not taking wifi bandwidth from others) that I can remote desktop into when needed. I figure for little money I can contribute and help the network that has changed my life, for less bandwidth then a kid uses on social media apps. After initial download, I understand. LFG!!! Take the power back!!! SUBd just saying👊
Thank you!! If you have/get a separate rig to run the node on, consider looking into Umbrel OS to run the node with. I have not used it but it looks really cool. And you can order a pre-loaded pc right from Umbrel (umbrel.com/umbrel-home). They cost $419 and are ready to do as soon as they arrive. You can also run a lot of other apps on the rig. It''s also available for DL free on Github: github.com/getumbrel/umbrel/releases
this is quality content. Thank you Sir!
Glad you enjoy it! Thanks for watching! I have a bunch of videos you might enjoy as well!
Great overview. Thank you.
Thank you very much. This is something I’ve never considered.
Glad it was helpful!
Thank you for making this super informative video! Sharing it with my community. 👍🏼
I'm glad you liked it!
A fascinating video and discussion, Thanks to all contributors. Interesting that quite a few "donkey and carrot" - people have commented! Well, maybe you try to avoid wasting hot water in order to keep your electricity bill level running a node....
Thinking of installing a node myself in the near future.
Very interesting video but, for a newbie like me that know nothing about wallets, nodes and so on, would a "normal" wallet be better?
What would be the advantage of having a wallet on your own node?
But I do like the idea of contributing to the bitcoin blockchain!
Yes, I think you should start with a 'normal' wallet designed for 'normies'. Get your bitcoin settled and secure in a good wallet first, then you can start messing around with nodes and Bitcoin Core wallet. Take it slow. Check out ua-cam.com/video/RJlbYzvgEd8/v-deo.html and ua-cam.com/video/pE-yVdRo4iM/v-deo.html.
How much processor power does the node use? Sounds like it's minimal, but I've run some nodes that used up 80% of my 10900k....
I'm not sure actually. Put it this way, I forget it's attached. It's just an external drive with a little data going in and out. Very minimal draw.
@SVRNMoney I guess if it runs on a pi it can't be too much
Awesome.
I am a little less ignorant and will did out my Raspberry PI, though I heard mention of 600gb download.
Many thanks to you and the algorithm.
Yes, that should work! The entire BTC blockchain takes up 715 GB on my backup drive!
Thank you very much for this important information. Your videos are helpful and instructive. Appreciated!
Glad you liked it! Thanks for watching!
What cool info… can I use an external hard disk or do I need an external SSD for the speed ?
You can certainly use an external HDD. An SSD will simply speed things up a bit. Good luck! Thanks for watching!
You’ve inspired me. I’m gonna run my own node. Like they say, every new member makes Bitcoin a little stronger.
@@yogawithandymaga dittos 😂
How much traffic down/up does a node consume on a monthly basis?
Negligible amount. You won’t notice it.
Once the node is up to date, it's actually very little data.
Great video. Very informative.
Thank you!
Congratulations 🎉 for the video 😊
Thank you! And thanks for watching!
Thanks for making this video. It’s very helpful. If a node was run on a raspberry pi, about how much would it cost per month in electricity to run?
I really don't know. I can't imagine it would cost more than a few bucks. Maybe the cost of a latte or 2?
Great explainer, thanks!
Hi. Great info. Can this be used for other crypto like xpr, or is it just for bitcoin? Thank you!
This is just for Bitcoin.
Great video! Thank you!
Thank you for watching!
I am the 281st btc node in canada!
Nice work!
That's cool, man.
Can I use external SSD in place of HDD?
Yes you can!
Brilliant video - I am doing this 😎
Fantastic!
appreciate this video. clear and concise instructions. well done.
Thanks for watching!
Thanks for the excellent video. I dont know a lot but, incase you were curious, i did learn that the timestamp is a Unix timestamp. That means it is the number of seconds that have passed since January 1, 1970, in UTC time. Its used in programming I think to eliminate the concern for timezones.
I knew there was some trick to the time stamp! Thanks for the info!
thanks for this video... got me thinking I should do this, so I got a docker instance running on my synology nas... I have plenty of capacity there :)
That should do it! Also check out Umbrel (umbrel.com/umbrelos) as a pretty neat alternative. Free DL available at their Github page as well.
Could you share how to do this? I have three Synology NAS in my home.
This video was interesting to me in a way I didn’t expect. Correct me if I am wrong, but would running your own node allow you to make your own transactions one might have needed to do on an (KYC policy) exchange?
Yes and no. You can't buy or sell through the node. You can send BTC to yourself (different wallets) or others in a much more private manner.
@ interesting. I am going to be deep diving your stuff. Liked and subscribed. Guessing with your own node you can setup smart contracts to trade btc for other coins. This video feels like it scratched the surface for me and I want more info.
Wow this is great! So I have a Tandem wallet. I only keep Bitcoin on my Tangem wallet so as I understand it I will be much safer by using the node as my BTC wallet.
I'm 78 and a bit slow so please confirm that this is correct.😊
Please leave your Bitcoin alone on your Tangem wallet. The node wallet feature is for advanced users only. I really wouldn't bother with running a node unless you're interested in supporting the Bitcoin network. Thank you for watching.
Not to complicate matters but I’d use a Bitcoin only wallet (signing device). Jade, ColdCard, bitbox02, Foundation are a few. The ColdCard Q is a great feature packed and well known wallet that embodies bitcoin only ethos. I applaud you self custody efforts at 78 🫡
Hi i bought 1 xrp coin, and 5 dollars of bitcoin, is worth to steak it , %. will me and mike be able to have sum-fun before we turn 80. with few nods 1 millions from are coins ? so its worth like kg of gold ?
question. i attached a 2tb external ssd to my pc and run the install on that ssd. Is it possible, after downloading the blockchain, to place that ssd on another pc and run it from there?
The application would generally reside on your main machine and you tell it the blockchain database is on the external drive. So, on the next machine you just install the node software on the main drive and point it to the accessory drive for the blockchain database.
@SVRNMoneythx, I will try
@SVRNMoney Everything went fine. blockchain downloaded in 2 days. But cant get any incoming connections. opened 8333 on the modem but still nog connection on that port. Running unifi internally. Do you know what to do?
@@leonk75Contact your ISP and start fussin'
What about a video explaining how to solo mining using our own node?
The nodes don't have mining capabilities. They assist the miners but collecting transaction in whats called the "mempool". They also verify confirmed transactions making sure they don't 'double spend'. I have a video on mining at home with a $65 investment here: ua-cam.com/video/vMmV0vih7Yw/v-deo.html
Thanks for watching!
Running a node IS solo mining.
@@eastmanwebb5477
Any video explaining that please?
@SVRNMoney
More interested in the “solo mining” commented below while running your node.
Would be great content video and even more if you make it with screen images.
Thanks for the useful guide. Really interesting to see how nodes are run. Good clear video and audio. Would you mind listing your setup specs? Camera, mike and video annotation software?
I have a VERY humble setup. I am recording on my Macbook Air M2, with a USB external mic using Screenflow. I do some simple editing before passing it on to my super talented editor (my wife) who puts it all together using CapCut (free version).
@SVRNMoney Thanks, still looks good.
This is great news 🎉, simple and easy to get. Thanks 👍
You bet!
What do you think about futurebit node?
I believe that's a miner. I'm unable to do something like that. But if you can contribute to the decentralization of mining around the world, I would say GO FOR IT! You never know if you'll win a block either.
Do you have a brand or specs of a 2TB SSD that you'd recommend? Or at what point would one be considered overkill for this use case?
Likely, the more you pay, the faster the drive and more durable. Here is a great option: amzn.to/4fXikUQ
So I have a question do u get btc for running a node to help pay for the power and internet payments if they want us to run nodes do u get paid to do so ? I'd be up to run 1 or 2 but need to know wether it's worth it ?
You do not get paid. Your payment is in increased privacy and knowing you;re contributing to the function/health of the Bitcoin Network.
Still not sore why I would want to create my own node, other than the “cool” factor. Are you saying instead of keeping my BTC on a cold wallet, that I can use this instead?
he literally had an entire segment listing out why you want to run a node starting at 3 mins 10. You don't keep Bitcoin on your cold wallet, you keep the private keys.
You can certainly use this as a Bitcoin wallet. In fact, stay tuned, the next video is on exactly that!
You can decide your own transaction fees.
Remember people, wallet is a confusing term. We should be calling them signing devices as that is all they do. Store the private keys to your bitcoin which resides on the blockchain. Your private keys sign transactions that allow you to move your bitcoin.
Also, store your 12 or 24 word seed phrase on durable metal (stampseed is an option) and hide those puppies away. Never let any camera or recording device around when writing them down either!!
You could do that, but it would be considerably less secure. I don't use the wallet on my node. Stick with the cold hardware wallet. But... you can hook up the wallet software you use to your node instead of the default node it would otherwise use. This requires a bit more work, but then you get that privacy aspect and self-verification.
Hi if I run a node it will certainly cost me some electricity bill to keep it running in addition to the hardware requirements. Will it give some monetary incentives like a bitcoin miner do?
No, you are simply helping the bitcoin network stay secure and decentralized and also dramatically improving your privacy.
well done Sovereign Im onboard star performance very cool gentlemen
Thank you!
Thanks, really thinking about running a node and this helps a lot. One question: what software do you use for recording these videos?
I'm using ScreenFlow on a mac. I'm looking into a new one called Screen Studio.
I have question here. Can you use this program to run nodes with other cryptos like: ethereum, solana, different memecoins etc?
Not this program. They like each have their own software and requirements.
Do you receive funding from using this node? cause i have several or more computers at home
No, running a node does not pay anything.
Look at those views! Nice. I had a feeling you would grow fast.
Yes, very hard to keep up with the comments! I love it though. Glad I can help some peeps out! Thank you!
Great video well done pithy and engaging
Thank you!
8:00 or as an onion service on tor, maybe even consider i2p
Running a node doesn't enhance your own privacy by hiding it amongst all the other transactions. Everything can be traced back to you if they try hard enough
Yes, one of the drawbacks of the Bitcoin chain. Not very private. Using a node enhances privacy over using a public server because that transaction can be (is) labeled with your IP address when you submit it to the server.
It does help support the network from attacks, tho if I'm not mistaken.
@@Priest_Of_Zebak Exactly! Hard to kill something that has cloned itself 18,000 times!
That the entire point transparency with no third party access
🎉 where have you been ? New Sub.
how about another coin ? like LTC, NXT, Firo. should i running node like BTC node to ?
I'd just stick to BTC myself.
I went to do this about two years ago and a UA-camr mentioned it would coast about $40 a month to run a node, so I held off. How much would you say it costs?
I would say it costs next to zero using an external drive on your computer. The expense is in leaving the computer up and running all the time. Using something like a Raspberry Pi 5 might keep the running costs to a bare minimum.
@SVRNMoney This is why bitcoin should pay you to have a node!
@SVRNMoney Thank you. I really want to do this.
@@qkb3128 I don't mind not getting paid, or even having to pay a little. But the $40 a month estimate I saw on another vid was disheartening. I might try it with an external drive like SVRN said, and just let the node sync whenever I'm online, which is fairly frequently. We'll see how it goes!
Speaking from law enforcement perspective (or how to run away from law enforcement perspective), the node recorded the connected IP addresses. When submitting a transaction to the Blockchain, is there any way to know to which node(s) my transaction was submitted? If yes, would it be possible for the law enforcement agency to enquire with the node holder for my IP?
If you are using a third party node, as far as I understand, your IP address is being recorded with the transaction and would technically be available to law enforcement. If you use your own node it is not (I believe). I'm not sure what effect using a VPN may have on that. And in many cases, it's just not convenient or possible to do use one.
You could also spin up a Lightning Node along side the Bitcoin node!
Yes! You can run a lightning node at home as well. Look into Umbrel OS for the base system.
nah, there's no point in lightning if it depends on the base layer to be fully connected all the time. Just use BSV, it's the original bitcoin protocol without the temporary restrictions on block size or op codes. You don't need segwit or taproot for it to work perfectly as originally designed. Just get a large solid state and RAM computer and you can run a BSV node or just get an SPV wallet, certify the transactions based on the evidence given in the transactions themselves.
@@TimJSwan BSV? Really?
@@TimJSwan BSV has no protection against transaction malleability. Absolutely all transactions are public and viewable on the blockchain. No onion-routed private transactions. If it is the original code, does this mean they took out hierarchical deterministic wallets, too?
Shared on reddit.
Great video, in some time i heard about it but i did not pay attention of, im in this since 2016, i will contribute with mine, i all ready had a computer to do this important job, ill be waiting for the next video of the wallet sounds very interesting thing to learn, BTW, greetings form Mexico 🇲🇽
Hola! Bienvenidos! I have a son that lives in Latin America! Déjame saber si tienes alguna preguntas! Gracias por ver!
Great explanation. Are there any hosting companies that one can pay to host a node? I run a business from home - can’t risk the network traffic being a disruption. But I’d like to contribute to the BTC cause.
If you have anything other than dial up, after the node is synced, the network trafic is minimal. You coudl look into Linode. I'm not sure if they allow that.
Just and FYI your node with or without incoming connections enabled is doing the very same job. Just not as much vs not allowing incoming connections.
When yours and everyone else's node verifies transactions, what does that really mean? Do the nodes go and start validation from the Genesis up to now? Do they only do recent one? Does a node say 'I'm doing this one, don't waste your time, go do that one.'? Where does it announce it's results? Does it really hammer the disk, and can you throttle the disk activity to take longer to validate?
After a block of transactions is confirmed, the nodes verify the transactions in the block for accuracy and to eliminate any possibility of double-spend. The also maintain the mempool which holds the transactions waiting to be picked for a confirmation block by the miners. Once a block is final, after 6 confirmations, the nodes ignore it basically. ALL the nodes work on the same blocks and talk back and forth with each other to compare notes and assure accuracy. The results are "announced" on the blockchain itself. You can see the progress at mempool.space. I'm sure there is some wear and tear on the disk, yes, but that's the cost of running a node. No way to throttle that.
I saw the SSD drive, but what type of PC and op.system do you use ?
Windows, linux or Mac.
@SVRNMoneyOK. Thank you. And the hardware?
@@viktorjuhasz3067 Any modern processor including a Raspberrry Pi 5. Very low requirements for hardware.
@@viktorjuhasz3067 You could use any modern equipment, Mac or PC. You could even look into getting a dedicated Raspberry Pi 5.
I think he just uses his daily MacBook. And said he doesn't even notice it.
Who ever controls the last node controls the network. Controls the network. Controls.
Well, in that case, I will definitely keep mine running!
Thanks a lot 🙏🙏🙏
My pleasure.
Get 2 terabytes, one tb is nearly full now
Great video. I was running a bitcoin node using an external hard drive and there was a disruption due to power failure. How do I resume from the block where it stopped.
It should pick up right where it left off. It checks with other nodes and syncs with them so if you're short, it should just request the block data and catch right up. You shouldn't need to do anything special.
This is resolved. I was able to restart from where i stopped. thanks.
Can pruned nodes also
have incoming connections ?
Absolutely!
@ sorry I meant out-coming connections 😅
@@francesco5007 Yes, they can!
So if you want to run Bitcoin Vore and a node properly, should everything (including synchronizing with the network) be run through a VPN+Tor combo?
I don't use one but you can certainly set up a connection through Tor
Thanks a ton for putting this together! So newbie question: How to configure a miner (like a solo bitaxe miner) to solo mine connecting to your own bitcoin core node? is that possible? Thanks!
I'm sorry, I can't help with that. I'm sure there's info out there somewhere.
Thank you Sir
My pleasure.
Great information, thanks! Can you turn it off and on?
Yes, you can shut down the app and disconnect the drive any time you want. Re-sync when it's convenient and you're back in business.
Understood. TY!
I downloaded node software but it wouldn't install. I just got errors. I assume it was because I was trying to install on the D drive and not on a C drive.
Yes, install on "c" and then during setup designate "D" and the storage drive.
Heck yeah. Nice video
Thank you! I appreciate the watch-time!
Error wile run the bitcoin core in windows 11, have any solution for that " Error: Cannot set -listen=0 together with -listenonion=1"
I'm sorry you're having trouble but I am not familiar with that error. If you find the answer, post it here!
I love people like you. God bless you
Thank you! I appreciate the warm comments. 😍
Does it work on sleep mode in windows pc. Thanks in advance and great video
I don't think so. But as soon as you wake it up, it should quickly re-sync.
¿can you run a full node in one cpu and one ln node in another cpu and connect them? ¿does this setting works?
Boy, I'm not sure about that. You can run a node on any computer, and any tow computers can be connected, so....I guess you could do that. I'm not sure what the advantage would be.
Even if you have your own node your wallet touched a KYC account at some point. Just have to track that wallet to see what you do even on your own node, right?
Yes, 100%. Check out ua-cam.com/video/REEpl06Fh3k/v-deo.html and ua-cam.com/video/0lEXc3pA5LY/v-deo.html if you want to explore really private bitcoin.
This is cool. This in no way makes BTC private in any way that matters.
It make BTC MORE private. It'll never be PRIVATE in it's current form. Well, actually, i have several videos on my channel about Liquid network privacy and Wasabi Wallet you should check out if you want real privacy.
@@greatbg Add a lightning node.
?? So I get it that all the transactions are stored on the node but what good is having a node if you can't buy or sell your BTC without using an exchange?
It helps support the Bitcoin Network and improves your transaction privacy.
It helps support the BTC network and improves your transactional privacy.
you would need to mine btc and use your node wallet to receive what is mined or without mining you could send any received or purchased btc through a mixer network before sending to the node wallet
How much do they pay to run a node? I’m not gonna run a node unless I’m getting paid.
It doesn't pay anything. You do it to support the network and improve your privacy. Makes you feel warm and fuzzy.
@SVRNMoney Oh, I was already downloading. Progress: 2.24%. But I am cancelling it now because of no incentive.
@@DrBilalHussain Sorry to hear that. We will soldier on without you none-the-less.
Gosh I've downloaded a full node but cannot get it to support the network. I've watched videos and messed around inside the router setting a static ip address for this machine but it still will not show as fully running in bitnodes. I'm afraid this might be above my skill level.
This is a problem with allowing incoming connections. Make sure the box is checked to allow them. Beyond that it's all in the port configuration in the router. At least that's my experience. Keep trying!
Interesting, i'd run a node but my data per month is 150gig. Ill be outta reach until i get a starlink connection sometime future.
That should work once you get the starlink set up!
What are the advantages of running more than one node on one IP address using different ports?
Boy, I don't see the advantages to that other than redundancy of the blockchain data.
Thank youuuuuu
👍🏻
Is it possible to do an offline hard copy of the bitcoin blockchain from a friend then verify online instead of downloading online 600gig?
I suppose you could have a friend DL the blockchain for you on a spare drive of yours and then use that drive to operate your node. Yes, I think that would work. Provided you are using the same software to access the node that he used to download it.
How do I know that my node I buy doesn't have a backdoor?
I guess you don't. You could buy one, erase and reinstall.
how can i extract all addresses that have or had balance in btc network in a local address database folder ?
If they are all part of the same seed phrase wallet, you can enter the seed into a seed generation software (offline) and generate a list of addresses for that seed phrase. If they are from different wallets, I don't believe that's possible. Maybe there is some sophisticated hardware that can do that, but I'm not aware of it. Good luck!
@SVRNMoney no i mean, i need to know how many people are holding btc, so how many addresses with balance exist in the earth ?
@@OmarNAJA-pi8sr Ahhhh, that information is available on blockchain analysis sites. You can start here (studio.glassnode.com/charts/addresses.ActiveCount?a=BTC) or here (charts.checkonchain.com/?) or here (cryptoquant.com/asset/btc/summary).
Oh, and what happens if your node is powered off for a week or so? Does it try to sync up its copy, or does the network say, 'mmm nope, bring down a pristine copy.'? And when it pulls down a new copy, does it do so using something like a bittorrent? And say I have 5 nodes that I want as miners - can they all use the single bc download (asssuming I have a cluster properly set to use a shared volume)? Can I have nodes that only mine, but don't interact with the blockchain except to upload my miner's result? Can I have nodes that just validate, but don't mine? Etc, etc?
Edit...ohhhh, this isn't about mining - ok, well that answered a couple questions :)
Whew. Miners are nodes with advanced software that allows them to attempt to solve the math problems in the bitcoin code to potentially win the block and receive the block rewards. That is a WHOLE different animal than a simple node, which is just a copy of the bitcoin blockchain transactions. Yes, if you unplug for a week, it will simply catch up by re-syncing the missing transactions and you're good to go. It doesn't need the data it already has. Hope that helps.
Can a friend or other person use my personal node to transact Bitcoin?
You can probably give them the IP address of your node if it's on a separate computer and they could connect from their home. Might take some configuring. Otherwise you can certainly lend them the drive or make a copy for them to use as an external drive on their system.