Nodes - Why run one?

Hi Guys,

What is the incentive for people to run nodes? I understand that Miners get the block rewards but what benefit do people get from running nodes? I know someone has to do it but it seems like it would mean dedicating some hardware to be running all the time and of course it costs electricity too.

Thanks!
Justin

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Hi there Justin. There is no incentive for running a full node if you don’t mine. All miners have to have a full node in order to mine new blocks. If you decide to run a full node without being a miner you are doing it for the sake of the community. Just like torrent works. No one gets any benefit for sharing files but they do it because they want to help other.

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Another reason could be for software developers working on apps that use bitcoin. Running a node gives the app direct local access to the blockchain.

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I just started running a Lightening Net node on a Raspberry Pi 4. No incentives, but it is really cool to be apart of the network. I believe ( I could be wrong ), but you can get transaction fees by running Lightening Node. Probably only a few sats here and there. STACK SATS!

You can also run Bitcoin Core wallet full node. It takes some time to update the blockchain, but again it is cool to be apart of the network.

https://bitcoin.org/en/wallets/desktop/windows/bitcoincore/

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Thanks for that! I’m interested in what you said about running a node on a Raspberry Pi 4. I heard about this:

https://mynodebtc.com/

Which looks interesting but it’s American and I’m in the UK. I haven’t looked too closely yet but it looks like you can just download the software rather than buy their hardware.

How did you make yours?

I will look into doing this once I am back earning again!

Cheers!

Yeah, this. I was running an eth node for this reason.

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@JustinP I just followed this video!: https://youtu.be/77BBQWg1n8w

He goes step by step, just be sure to install the latest version for Raspiblitz. You can buy all of the hardware on Amazon (links are in the video description). I hope this helps!

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If you’re a strong believer in the Bitcoin ethos, you’ll do what it takes to support the network.

The more nodes, the more secure the network is.

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