Anyone in bitcoin community take action!!! Highly important to run a bitcoin core full node.

in #steem7 years ago

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Running a Bitcoin core full node is not only for mining pools and companies. Here is 5 reasons why any average user should consider to run their own Bitcoin core full node. https://bitcoin.org/en/full-node

HELPS THE NETWORK

Running a full bitcoin core node relies on altruism of the community, there is no incentive reward to it. Run your own bitcoin full node is the best guarantee to have full control and make sure that all the internal rules of Bitcoin core are being followed properly. Full nodes ensure this by denying blocks and corrupt transactions that do not meet the network consensus rules and by denying connections from all peers that send them.

This is the main reason why full nodes are more important thanthe hash power since they verify that the block-chain is following all the guidelines. Even in the case of the longest Proof-of-Work chain, full nodes do determine if said chain follows the rules and whether it is accepted or ignored.

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KEEPS YOU SAFE & SPEEDS UP BITCOIN CORE NETWORK

If you run any third party Bitcoin wallet they do not require you to run a full node which means that you have to give a certain degree of trust in the wallet provider and this the difference in running a bitcoin core full node.

In the case of a web-based wallet is required to trust the central node where all your transactions are transmitted and processed. All SPV client requires you to trust a third party because you are only downloading the blockchain headers and cannot verifying if the blockchain respects all the rules of the network.

More full nodes available faster the bitcoin transnational speed will be. Community needs you to take action.

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ALLOWS YOU TO CHOOSE

In the event of a hard fork occurring where both original and forked block-chain remain active in different paths with transaction activity on each side, ONLY having a full node installed you will be able to validate the rules that the new forked blockchain has in respect of the old blockchain. Otherwise if you don't have a full node you cannot check all the guidelines are met correctly, but you will just follow the blockchain that is given to you. Today we put money in the bank since banks are regulated buy government laws which protect us against possible bank fraud issues. While bitcoin is not regulated buy the law and if you loose your bitcoins there is no way to make a dispute in any court.

Running a full node of the client you support or bitcoin core full node it is the only way to ensue transparency, security, safety of your wallet and you invested money.

FULL NODE HAS HIGHER DEGREE OF PRIVACY

Using any centralized, a lightweight or even SPV wallet it can never be as private as having a full node in your control. "Being your own bank sounds difficult?" When you rely on third-party centralized servers to broadcast all your transactions, the third party company will know which addresses are yours.
This happens for online wallets and lightweight clients. Worst are SPV wallet nodes that leak considerable important information about your Bitcoin addresses.

IT’S NOT THAT HARD EITHER EXPENSIVE

Might seem a challenge running a full node to a non technical person. Running a bitcoin core full node is as simple as downloading the latest Bitcoin Core client version and run it on your hardware(PC).
The size of the blockchain exceeded 500GB but following the steps in
https://bitcoin.org/en/full-node
you can "zip" the blockchain to save space. Synchronizing the node initially takes a bit time and all you need is a good internet connection.

When you run a full node will require you to have your computer on the majority of the day since it needs to make transactional validation. Easiest way is to run a full node in a rented server space such as cloud space which varies from $5 to $10 a month.
https://www.digitalocean.com/

DO your own due diligence research, take action to help the community!!!