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Bitcoin Full Node

We wrote an article about why you should run a Bitcoin Full Node 馃檪

**Check it out** [**here**](https://www.getseedlock.com/post/you-don-t-run-a-bitcoin-full-node-do-it-now)



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3 Comments

  1. >Check it out here

    OK tho why not paste it here?

    1) Only full node owners can be sure that they own BTC

    Monetary sovereignty also includes subjecting one’s own BTC holdings to validation. After all, anyone who trusts third parties such as wallet providers or even exchanges is disregarding the Bitcoin ethos “don’t trust, verify”. Only operators of BTC Full Nodes can rule out the associated uncertainties and be sure of their ownership.

    2) Verify transactions

    Point two ties in seamlessly with point one. Because only those who operate a node can be sure that the payments they receive are actually Bitcoin. Full nodes enforce the BTC network rules and reject all transactions that violate them. Anyone who owns Bitcoin thereby implicitly gives consent to the associated consensus rules – full nodes enforce this consensus.

    3) Network statistics

    Setting up a Bitcoin node is also mandatory for analysts. After all, if you have direct access to the blockchain – and that’s what nodes are all about – you get first-hand network data. Average fees, hash rate, difficulty, size of the mempool – this is only a small selection of the enormous possibilities to scan the blockchain for relevant data. Those who do not operate a full node are consequently dependent on third parties and have no way of checking launched data for accuracy.

    4) Privacy

    If you want to achieve a certain degree of anonymity, you should think about a full node. This is because via centralized wallets like Ledger or Trezor, you disclose all addresses as well as the respective BTC assets held on them. Only those who generate BTC addresses themselves with the help of full nodes can take the first steps toward more private Bitcoin use.

    5) Full nodes support the network

    Since full nodes are responsible for enforcing the consensus rules of the decentralized network, it is enormously important that these can be operated by as many entities as possible. This is one of the reasons why the block size in Bitcoin is intentionally kept small. This ensures that the storage space of the blockchain does not grow too quickly and that many people can afford to operate nodes and that the network is not dependent on large and centralized institutions. The more nodes are connected to the Bitcoin network, the more secure it is. As long as “honest” nodes can overrule attackers, Bitcoin is safe.

    So even if you run a BTC node out of the aforementioned selfishness, you incidentally ensure a more robust system.

    In short, running a full node is the only way to use Bitcoin without the aid of third parties. If you want full monetary sovereignty, setting up a node is the right thing to do.

  2. 1 and 2 are not very accurate. Light wallet clients verify block headers and merkle tree proof to assure your transactions exist in the blockchain. In theory the only attacks here are privacy related, and in theory they could withhold the fact your coins are already spent, but this is an incredibly difficult attack to pull off and shouldn’t be possible if you’re protecting your keys correctly.

What do you think?

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