Running a node
Hello everyone,
I know there are similar posts on this subject but I haven’t quite found the answers that I am looking for. I have strong conviction about bitcoin and because of that I have become increasingly interested in running a node. If someone has a YouTube video or an article they could reply with that would be great. Otherwise I’m hoping a few of my questions from below can get answered.
I make daily purchases of bitcoin but I only HODL. Will I still be supporting the network by running a node?
What are the privacy advantages to running a node?
What type of node is best for how I use bitcoin?
What type of computer will I need?
Does running a node limit what exchanges I can purchase from? (Currently use River)
Will I have to change how I store my BTC when running a node? (Currently use paper wallets)
I appreciate any information that you can provide!
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First they ignore Bitcoin, then they laugh at Bitcoin, then they fight Bitcoin, then they offer you their Bitcoin ETF.
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Lightning Labs Announces Stablecoins on Bitcoin Lightning Network
https://bitcoinnews.com/lightning/lightning-labs-stablecoin-on-bitcoin
https://redd.it/1cop6zp
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Could BTC Solve Economic Situation
do you think with way more adoption
btc could solve some of the inflation issues in a realistic way?
as in becoming more in the market place
devalue fiat currency more
to point there be no point to pay off the deficit
bring value to money system?
could this be possible?
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Requirements for running a full Bitcoin node for next 10 - 15 years.
Is anybody knowledgable enough to give an education opinion on what device (or device components) exacly and why should i buy to run a full Bitcoin node for many upcoming years without worrying about hardware upgrades and so on? I'm really curious about your predictions on how fast Bitcoin node size will grow in post quantum cryprography world (where we would need diferent, probably much bigger signatures). What hdd and ram should i get? Is raspberry pi 5 with 8GB ram enough for many, many years? What else to buy and what else should i care about? What system should i run? How to secure everything? Do i need a stable ip adress? Is it a good idea to have my wallet software eg. sparrow wallet on the dedicated full node device or sohuld i just use the full node device as the source of truth and guarantor of privacy (or rather just for a better privacy)? Should i use electrum private server? What to consider for a lightning node option? What do you think will be LN requirements in 10 years from now? How do i limit the risk of malicious software/hardware on my full node device before and after the purchase? Is it hard to setup and maintain everything for a computer and coding newbie? Any good feedback highly appreciated (we can make it very educative)
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Pack your bags boyzz there’s bitcoin on the other side of rainbow mountain.
Let’s look at the obvious facts here when the gold standard was dissolved it removed an important check and balance. As human beings, we are imperfect beings. we cannot be trusted to manage the cookie jar. It will always end in failure. We partied and had unprecedented growth thanks to neoliberal capitalism the last 50 years. We partied, lived In excess, became abhorrently wasteful and lost our conservative principles. But nothing is free. And we will see the consequences of our actions as the law of thermodynamics states perpetual motion is impossible. once the juice is all used up it comes to an end. Well I’m packing my bags to rainbow mountain I’ll be back when they announce the new bretton woods. I’ll be richer than Putin.
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“Should I buy Bitcoin now?…” “ I am officially a whole coiner…”
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Realistically, what are some ways bitcoin will become easier to use?
Will it be with the evolution of Lightning Network? What are some other ways?
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2 Reasons to Buy Bitcoin Like There's No Tomorrow
https://finance.yahoo.com/news/2-reasons-buy-bitcoin-theres-123700382.html
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Once all Bitcoin has been mined, then what?
Just to preface this, I think Bitcoin is super cool and I hate fiat money and I'd love to see Bitcoin stand the test of time so I'm not hating on Bitcoin here but I do have a concern about the future. That said...
I'm not a Bitcoin expert so maybe hundreds of you can put this to rest for me but something has been keeping me up at night. If Bitcoin transactions are verified by those who "mine" Bitcoin and miners agree to "mine" Bitcoin because they get paid to do so (in Bitcoin), then what happens when all Bitcoins have been mined and/or when the energy and maintenance costs to verify transactions no longer becomes profitable? Bitcoin is not like gold/silver in the sense that gold/silver can be weighed on a physical device (a scale) prior to trading and it costs those trading the gold/silver virtually nothing to do so. Bitcoin on the other hand relies on a blockchain of servers that must be kept running and operating in order for the system to work, right? So once all Bitcoins have been mined and people still want to use it, how will those verifying transactions get paid to do so and how will that happen unless they charge fees to do so? What will they charge? 1% per transaction? 2.5%? More? It will still cost everyone something to use Bitcoin just as it costs everyone something to accept the digital form of fiat currencies via online processing companies like VISA/PAYPAL/etc. What will these fees be? How will they be set/calculated/regulated? Most importantly, if not a government, who will have the final say on setting transaction fees and who will determine what is a fair price to charge? The open market? Right now, Bitcoin miners only make $75,000/yr at best. That's barely enough to survive in most US cities. Will they still be happy with that? I'd be willing to bet the answer is "no". And if a transaction fee has already been set and I just don't know about it, what happens when the cost of energy and maintenance inflates so much that verifying transactions is not longer profitable or even a break-even situation? I look forward to you all telling me this has already been figured out and I have nothing to worry about. Thanks in advance!!
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Journey to 1 BTC
Top a tha morning fellas, last night I finally made it too 0.01 in BTC holdings. Not much at all but I wanted to celebrate with guys, since no one around me, whether it be friends, family or coworkers are into it.
Cheers guys🥂
More to come for sure
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Block will invest 10% of its gross profit from Bitcoin into Bitcoin each month.
https://www.reuters.com/business/finance/blocks-first-quarter-profit-jumps-resilient-consumer-spending-2024-05-02/#:~:text=Block%20will%20invest%2010%25%20of,Dorsey%20said%20in%20the%20note.
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El Salvador bought the dip and doubled its Bitcoin. What's your excuse?
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Hal Finney on the importance of the 21 million Bitcoin supply limit, exactly 13 years ago.
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Not Buying Bitcoin Today? Don’t Say I Didn’t Warn You When It’s All Gone
mutinymoney/not-buying-bitcoin-today-dont-say-i-didn-t-warn-you-when-it-s-all-gone-ffafc0d8e6bd?sk=883105355b049894fe66fce114ecfbcf" rel="nofollow">https://medium.com/@mutinymoney/not-buying-bitcoin-today-dont-say-i-didn-t-warn-you-when-it-s-all-gone-ffafc0d8e6bd?sk=883105355b049894fe66fce114ecfbcf
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Records were not only broken, they were smashed.
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The amount of times I have given people the gift of Bitcoin knowledge and they have thrown it in my face is unreal. But I guess I'm the only one laughing! Anyone else had this?
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Crypto group with 440,000 members launches PAC to target House, Senate elections
https://www.reuters.com/world/us/crypto-group-with-440000-members-launches-pac-target-house-senate-elections-2024-05-10/
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Daily Discussion, May 10, 2024
Please utilize this sticky thread for all general Bitcoin discussions! If you see posts on the front page or /r/Bitcoin/new which are better suited for this daily discussion thread, please help out by directing the OP to this thread instead. Thank you!
If you don't get an answer to your question, you can try phrasing it differently or commenting again tomorrow.
Please check the previous discussion thread for unanswered questions.
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I'm excited
I'm excited for the next me in the next few years. I was into bitcoin for awhile but it wasn't until cash app started allowing you to buy bitcoin in 2018 when I really got deeply orange pilled. I read about fiat, about the housing crash, and COVID and all of the financial crisis in between. About how banks don't actually have our money and we pay for endless wars from the pockets of our children.
I realized in 2018 that not only are these things happening, but that finally, I could do something about it. I could save for my future and for my kids futures in something pure. Bitcoin can't print endlessly and pay for wars. Bitcoin can be a money that's actually for the people.
I'm excited for the individuals that are just now figuring this out like I did 6+ years ago. You realize the big lie. And you realize it's so big, your parents don't even understand it. Your friends don't understand it. No one around you understands it. But it just clicked for you. And you want to share.
Welcome to bitcoin my friend. Learn some more. Buy some bitcoin, and let's change the world together.
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Looking at Cold Storage Wallets
I have about $4,000 in bitcoin spread amongst River and Coinbase. I’m 17 so this is about half of my total investment portfolio (probably closer to 40%) and I obviously don’t want to leave 40% of my portfolio out of my control.
I was watching Financial Wolf and he mentioned the Ledger Nano Cold Storage Wallet (he’s not sponsored and has no affiliate link with them). It’s about $150 on Amazon.
I wanted to know which cold storage wallets people recommend and if you’re a fan of the ledger nano, thank you!
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Is there any path for the US govt to ‘fix’ the dollar?
If BTC keeps climbing against USD, the dollar continues losing favor internationally and everyone keeps dunking on the Fed for printing money, it seems inevitable they will eventually have to try and remedy things.
Do they have any way of doing this? I’m talking issuance strategies, bonds, CBDCs etc, not just trying to ‘ban’ Bitcoin.
We all talk about BTC as a certainty given its pre-programming, but are there ways the government could hinder its attractiveness by changing how currency works?
Serious answers only please, thank you.
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I love Bitcoin, but let's be honest: Adoption Sucks.
I just published my thesis in more detail on jordanpoulton/bitcoins-dark-secret-adoption-sucks-f3ff77f85715">Medium, but TL:DR: Bitcoin adoption is a long way from where it deserves to be, especially as a payments technology.
I went to El Salvador recently and was sorely disappointed. I wrote a field report, but (another TL:DR), even there, adoption sucks.
I'm developing a community-driven solution to try to do my little part in addressing this problem — get in touch if you want to find out more/be involved.
Any agreement/disagreement to my thesis would be very welcome :)
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Sitting in Bologna airport and seen this sign
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Bitcoin CashApp keeps Glitching
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A Bold Commencement Speech: Chris Pan Shakes Up Ohio State with Bitcoin
https://x.com/oxhak/status/1788116587343392863
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Greatest timelapse ever
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The American Dream is..
The American Dream is not dead.
The American Dream is debt!
The American Nightmare!
I call it hidden slavery! We are no sovereign individuals for the Gouvernement.. for them we are just like 🐄 cattle
Bitcoin is the only chance for humanity to jump out of this hamster wheel!
Stack what you can and when you can!
Your future self will thank you for your hustle today!
We have been gifted from Satoshi to make the world a better place!
I wonder why most of the people still don’t get it.. is it still that people in the western world have a way too good life to waste money for things they don’t really need and paying taxes to a state who prints money anyways?
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