Bitcoin Q&A: Why running a node is important

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    54 08/04/2018

    How important is it to be running a normal Bitcoin node or a Lightning Network node, as a user of bitcoin? Don't trust; verify. If you don't independently validate that your transactions have been confirmed, you are delegating responsibility to third parties to give you accurate information on the state of the blockchain, from infrastructure you don't control. The cost of light wallets is certainty. Decentralisation is important in every aspect of the network: chip manufacturing, mining equipment ownership, geographic distribution of mining and non-mining nodes, and variety in types of connections to the network.

    This is a question from the patron-only live Q&A which took place on December 16th 2017. If you want early-access to talks and a chance to participate in the monthly live Q&As with Andreas, become a patron:

    Decentralized Truth -
    Hardware, Software, Trustware -
    What is Consensus: Rules without Rulers -
    Bitcoin: Where the Laws of Mathematics Prevail -
    Hard Promises, Soft Promises: Promoting Autonomy instead of Authority
    Forkology: A Study of Forks for Newbies -
    What is the role of nodes? -
    How do I choose a wallet? -
    The Lightning Network (playlist) -
    Running Lightning nodes and payment channels -
    Lightning and onion routing -
    Lightning, full nodes, and miners -
    Misconceptions about the Lightning Network -
    The scaling rites of passage -
    Governance trade-offs in decentralised systems -
    How to get people to care about security -
    HODLing and the "get free" scheme -
    Is Bitcoin a democracy? -

    Andreas M. Antonopoulos is a technologist and serial entrepreneur who has become one of the most well-known and respected figures in bitcoin.

    Follow on Twitter: @aantonop

    He is the author of two books: “Mastering Bitcoin,” published by O’Reilly Media and considered the best technical guide to bitcoin; “The Internet of Money,” a book about why bitcoin matters.




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