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: https://www.patreon.com/aantonop

RELATED:
Decentralized Truth – https://youtu.be/XCVaabu3J04
Hardware, Software, Trustware – https://youtu.be/Etyjc1JdmFU
What is Consensus: Rules without Rulers – https://youtu.be/2tqo7PX5Pyc
Bitcoin: Where the Laws of Mathematics Prevail – https://youtu.be/HaJ1hvon0E0
Hard Promises, Soft Promises: Promoting Autonomy instead of Authority https://youtu.be/UJSdMFPjW8c
Forkology: A Study of Forks for Newbies – https://youtu.be/rpeceXY1QBM
What is the role of nodes? – https://youtu.be/fNk7nYxTOyQ
How do I choose a wallet? – https://youtu.be/tN6b62sEpsY
The Lightning Network (playlist) – https://www.youtube.com/playlist?list=PLPQwGV1aLnTurL4wU_y3jOhBi9rrpsYyi
Running Lightning nodes and payment channels – https://youtu.be/ndcfBfE_yoY
Lightning and onion routing – https://youtu.be/D-nKuInDq6g
Lightning, full nodes, and miners – https://youtu.be/dlJG4OHdJzs
Misconceptions about the Lightning Network – https://youtu.be/c4TjfaLgzj4
The scaling rites of passage – https://youtu.be/rZi86_ovB3Y
Governance trade-offs in decentralised systems – https://youtu.be/dtwaW79Fj7c
How to get people to care about security – https://youtu.be/Ji1lS9NMz1E
HODLing and the “get free” scheme –

Is Bitcoin a democracy? – https://youtu.be/TC3Hq76UT5g

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 https://twitter.com/aantonop
Website: https://antonopoulos.com/

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.

THE INTERNET OF MONEY, v1: https://www.amazon.co.uk/Internet-Money-collection-Andreas-Antonopoulos/dp/1537000454/ref=asap_bc?ie=UTF8

[NEW] THE INTERNET OF MONEY, v2: https://www.amazon.com/Internet-Money-Andreas-M-Antonopoulos/dp/194791006X/ref=asap_bc?ie=UTF8

MASTERING BITCOIN: https://www.amazon.co.uk/Mastering-Bitcoin-Unlocking-Digital-Cryptocurrencies/dp/1449374042

[NEW] MASTERING BITCOIN, 2nd Edition: https://www.amazon.com/Mastering-Bitcoin-Programming-Open-Blockchain/dp/1491954388

Subscribe to the channel to learn more about Bitcoin & open blockchains!

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25 COMMENTS

  1. QUESTION: If you have little tech skill, i.e. don't use command prompt to solve issues, how do you set up a Bitcoin Node? I have the hardware (a computer with plenty of disk space) and downloaded the Bitcoin block chain but could not get the node to work, I think the problem was getting my home machine to be a static ip. At least I think that was the issue. I am pretty sure it had to do with my internet connection not talking back to the block chain. I spent a lot of time on the Bitcoin Core website looking at posts and I am pretty sure it is the internet ip that is the problem. I could not find any solution simple enough for my tech neophyte brain to handle.
    I know that nodes are critical to the infrastructure of Bitcoin and other crypto and if you want to be more than a sideline investor and you are a true believer, which I am, you want to help and be a part of the infrastructure. The problem is it seems there is no "black box" solution I can buy on Amazon that will set up a node and solve any connection issues. I am surprised this has not been built. If it has please tell us about it. If not please help. 🙂 If we could get a Bitcoin Node set up the next goal would be a Lightning Node.

  2. Anybody have a good video for setting up a node for the non-tech folks? I see a lot of comments here, including my own, where people are asking how to set up a node. For me to use it, it would have to be pretty idiot proof. 🙂 I had to Google what a raspberry pi was.

  3. Hey Andreas, since you are the guru on this subject, do you think the ISP will be able to develop a bandwidth shaping technology (as they have done with the internet) to control the speed of the bitcoins LN transactions on the TCP layer of the Bitcoin Network ???

  4. New to the space and to your channel, fantastic content though my friend! I see why you get donated the big bucks. I am looking to build a network of informed crypto YoutTbers on WildSpark. If I AMP your content would you be interested in signing up to receive free AMP from Synero? Regardless, thanks for the vids and I look forward to learning more from you!!

  5. As usual, great video. Would you be able to cover GDPR and how it could affect blockchain technologies that hold customer information? It's just around the corner and I'm wondering if anyone in the blockchain / crypto space has considered it. Apologies if you've already done a discussion about this.

  6. Very interesting, not sure that companies will host nodes with their own hardware though.
    Also the audio quality could be better, it sounds like sound is captured from your laptop's microphone and not from the on your shirt. Or maybe you're in a small room with no furniture?

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