How to mount your Bitcoin node in less than 10 minutes - Buy Bitcoins News profitable bitcoin Mining

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  • How to mount your Bitcoin node in less than 10 minutes

    From the moment you met Bitcoin, you may have asked yourself: What can I do to help in all this? How can I contribute to the network ?, What else can I do to collaborate with Bitcoin?

    Bitcoin Node

    The answers to all these questions are much simpler than you think since just having a copy of the Bitcoin Core wallet on your computer you can actively collaborate with the network by mounting a node in less time than it will take to read this article Of our GUIDE BITCOIN where we are going to explain to you all the necessary steps to be able to have your own node of support to the network.

    WHY ARE BITCOIN NODES IMPORTANT?



    In order for the Bitcoin network to validate and transmit transactions, more elements than the miners are needed. By using a number of randomly selected nodes, the network can reduce the chances of a problem such as double expense and maintain the security and integrity of the same completely .

    A Bitcoin node can play different roles depending on the utility we want to give it. The most frequent are:

    Database of the chain of blocks : any wallet that has a copy of the complete "blockchain" can act as a node.

    Mining : For a mining team to work, it also requires a copy of the entire block chain, so it could act as a node.
    The current problem is that the number of nodes contributing to the network is decreasing. With a total of about 5800 nodes, we have dropped by almost 16% since 2015.

    Bitcoin Nodes

    What are the reasons for the fall of Bitcoin nodes?


    Contrasting the opinions of the users, many of them agree on the same argument: lack of incentive .


    If we compare a Bitcoin node with mining we find a clear difference. What do you think it is?


    Exact! The incentive . Any user contributing a necessary calculation power to the network can receive a reward for the emission of a new block to the network. But not everything is a matter of rewards ... a person running a complete node from his home would not receive a direct incentive but it would be helping to protect the network from a project in which it is intimately linked.

    EYE! It is important not to confuse concepts. The focus of mining is one and the one of the nodes is another. The investment in mining equipment is not the same as that which could mean a device open 24 hours a day, 7 days a week with a running node (and more if the base of your node is a Raspberry Pi!?).

    Anyway, the reward is not the only reason why there are no more nodes today. A complete node can be configured to make use of all the resources of a machine so the normal use that could be made by any of us would be reduced. If we add to both elements the collapse of MT.Gox and the fall of the trust of much of the community in the past, many people were closing their nodes with the passage of time. Despite this, the number of nodes has always been on par with the price of bitcoin.


    Number of Bitcoin nodes



    The greater its price, the more active the community is, the more appearances in the press, new users discover the project, download their wallet and synchronize 100% with the network.

    You have already lived that moment and now you wonder how to mount a node in the simplest way possible. Let's get action!


    MOUNT YOUR BITCOIN NODE 



    Pre-installation requirements

    Have the latest version of the Bitcoin Core wallet installed in your operating system. If you do not know how to do it and require a guide with the first steps through this wallet, you can consult our article dedicated to all those who have never used it.

    Computer or device with recent versions of Windows, Mac OS X or Linux.
    80GB of minimum free disk space.
    2GB of RAM.
    An Internet connection with at least 400 kilobits (50 kilobytes) / second.
    If you want 1 to have an entire node a minimum of 6h a day available and acting as node (you can do other things while you have the wallet open).
    Make sure your device does not go into sleep mode and reduces its capabilities.
    Once you verify that you meet all the necessary requirements to be able to have a Bitcoin node without hardware problems, you can follow the steps mentioned below with which you can support the network directly in less than 10 minutes.

    Steps to follow

    Open the wallet and wait for it to download and check the blocks of the 'blockchain' in 100%. You will see that it is totally downloaded since a check tick appears at the bottom of the wallet. This will take hours or days depending on the internet speed you have since the first time to download the blockchain in full ( which currently exceeds 50GB )
    Download and run the Bitcoin Core client on a computer that is on 24/7.
    Direct the port 8333 of your router to the internal IP of the computer.
    To do so, you must access the configuration panel of the router of your Internet provider by entering the IP 192.168.1.1 or 192.168.0.1 in your favorite browser, go to the section "Port Forwarding" or similar (depending on your ISP) and add the Port 8333 TCP.

    Range: 8333 to 8333
    IP address: The internal IP address of your computer.

    This last step is the one that can be more complicated if you have never changed any aspect of your router, but do not worry! It does not affect your Internet connection at all and you will not have any changes to your day-to-day navigation. Once you are finished with them you will have to restart the router, Bitcoin Core and wait a couple of minutes to check that all the lines of the signal indicator present in the bottom bar of the wallet are active.

    For more security, you can also access  Bitnodes and verify that your node is operational from the check box.

    Finally indicate that having a Bitcoin node does not have a much less noticable light expense (remember that having a node is not mining), so you can use your own computer. However if you want to not use your computer, and since removing hard disk does not need a powerful computer, even a € 25 raspberry pi can serve as a node , which will also consume less light even than a typical PC tower.

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