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
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The model of incentives has failed it's purpose. Now it is just hubris that keeps it alive.
Can anyone explain do 2 and 3 node can have the same transaction in the same block.?
I gotta download and verify 220gb to be a node ?
I've spent about 50 hours desperately trying to get more than 8 connections on my node but still can't figure it out…. I'm giving up.
this information its priceless and is cheap for everyone, pay attention if you want to learn more of Bitcoin
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.
Alexa asks questions? ?
I'm a total noob, but this makes it sound like corruption is possible by miner consolidation
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.
I recognize your voice from Let's Talk Bitcoin on SoundCloud!
This guy is my hero!!
I'm sorry but how in the world does Andreas Antonopolous' YouTube channel only have 135k subscribers.
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 ???
Any way to make money running a node? What's daily bandwidth of running a node after you have blockchain downloaded? What size hard drive do you need? Any cheap hard drive fine?
How do w set up the node properly and securely?
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!!
Hello – SHould I learn python or JS to enter into block chain domain ?
when u encrypt amozon is it not so good as almost yours
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.
Andreas how much consensus do nodes have over miners? Do miners have any say in consensus or are they there only for a bitcoin reward and processing transactions?
Get a better mic. Audiotechnica is $100
what about all the old hardware which become useless for mining overtime?
So, can we assume Bitcoin is centralized already by the ASIC manufacturer?
Great info Andreas. Started running a fulll node last year, hoping to upgrade and get Lightening running soon
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?