The 6 Reasons Why It Is Worth Having Your Own Bitcoin Node At Home.

in hive-150122 •  last year  (edited)

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"The 6 reasons why it is worth having your own Bitcoin node at home.".

Having your own Bitcoin node: 6 reasons why it is worth it

1✅ Privacy and control

By using a wallet connected to your own node, you do not share transaction information with third parties.
You prevent third parties from obtaining information about your transactions and IP address.

2✅ Resistance to censorship

By having your own node, you can send transactions directly without relying on third parties.
There are no intermediaries that can block or censor your transactions.

3✅ Independent validation

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With your own node, you don't need to rely on third-party services to validate transactions.
You have all the transaction log saved in your node.

4✅ Use of Lightning Network

Running your own node allows you to create channels with other nodes and use the Lightning Network from your own infrastructure.
The possibility of generating income is opened by charging commissions for routing payments within the network.

5✅ Analysis and study

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By running your own node, you can perform analysis directly on the data stored on the Bitcoin blockchain.
It is not necessary to rely on information provided by third parties.

6✅ Strengthening of the decentralized network

By having more nodes installed in different places, the decentralization and efficiency of the Bitcoin network is strengthened.
Avoid further centralization if the block size were to increase significantly.

"Creating a Bitcoin node".

The necessary requirements to create a Bitcoin node, both in terms of hardware and software. It also mentions the importance of conducting research and seeking help in groups and forums in case of having problems with the node.

"Requirements to create a Bitcoin node".

You need a Raspberry Pi, a 1 terabyte external hard drive, a power supply, a microSD card, and a network cable, among other items.

In addition to the hardware, it is necessary to install specific software to run the node.

There are free options available for both hardware and software.

It is advisable to analyze the different options available before making a decision.

"Troubleshooting and support".

If there is a problem with the node, it is the responsibility of the user to investigate and resolve it.
Depending on the software and hardware used, help can be requested in Telegram groups or forums where users share their experiences and solve problems together.
It is important to be willing to learn and seek solutions on your own.

Additional comments

Comments below are invited if there is interest in further analysis of the options available in both hardware and software to create a Bitcoin node.

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