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The Step-by-Step Guide to Running Your Own Bitcoin Node

Operating a Bitcoin full node is an engaging hobby to pursue in your spare time. It offers the opportunity to gain hands-on experience building and maintaining a Bitcoin node, and explore the Linux operating system. My own Bitcoin full node has been set up using a Raspberry Pi, a cost-efficient way to participate in the network.

Table Of Content

  • Content

  • Conclusion

  • FAQ

  • You May Also Like

  • External Links

Introduction:

The Bitcoin blockchain operates as a decentralized peer-to-peer network where no single entity controls or owns Bitcoin and anyone can participate.

A full node is a software that fully verifies transactions and blocks. By operating a Bitcoin full node, you contribute to decentralization and promote the growth of Bitcoin.

The following sections have been adapted from 'What is a full node' for easier reading.

Running Own Bitcoin Node

Considerations and Precautions

Running a Bitcoin full node involves certain costs and risks. This section will outline these costs and risks for you to evaluate if you are willing and able to support the network.

Ensure Wallet Safety

It's possible and secure to run a full node to support the network while also using the node's wallet to store your bitcoins. However, it is essential to take the same safety measures as with any Bitcoin wallet. You can find more information on how to secure your wallet on this page.

Meeting System Requirements

Bitcoin Core full nodes have specific system requirements. Attempting to run a node on insufficient hardware may work, but it may lead to increased technical difficulties. A smooth experience can be had if you meet the following requirements: 

  • Desktop or laptop hardware running recent versions of Windows, Mac OS X, or Linux.

  • 200 gigabytes of free disk space, accessible at a minimum read/write speed of 100 MB/s.

  • 2 gigabytes of memory (RAM)

  • A broadband Internet connection with upload speeds of at least 400 kilobits (50 kilobytes) per second

  • An unmetered connection, a connection with high upload limits, or a connection you regularly monitor to ensure it doesn’t exceed its upload limits. It’s common for full nodes on high-speed connections to use 200 gigabytes upload or more a month. Download usage is around 20 gigabytes a month, plus around an additional 195 gigabytes the first time you start your node.

  • 6 hours a day that your full node can be left running. (You can do other things with your computer while running a full node.) More hours would be better, and best of all would be if you can run your node continuously.

Note: Most modern operating systems, including Windows, Mac, and Linux, enter into a low-power mode after the screensaver activates, which can slow down or stop network traffic. This is a common default setting on laptops and all Mac OS X laptops and desktops. To make sure you're always supporting the network, check your screensaver settings and turn off the automatic "sleep" or "suspend" options on your computer when running a node.

Potential issues:

Legal: In some jurisdictions, the use of Bitcoin is prohibited or restricted.

Bandwidth restrictions: Some internet plans may charge extra for exceeding the included bandwidth, or even terminate your service without warning. It is recommended to check your internet plan for such limitations and keep track of your bandwidth usage to avoid hitting the limit while running a node.

Anti-virus: Some malicious actors have added known computer viruses to the Bitcoin blockchain. While this data cannot infect your computer, some anti-virus software may still quarantine it, making it harder to run a node. This problem is more prevalent among Windows users.

Security: Running a Bitcoin node makes your computer a target for those seeking to disrupt the network, this can have an effect on other activities on your computer such as limiting your download bandwidth.

Step 1: Hardware

I decided to run my Bitcoin full node using Raspberry Pi 3+.

I gathered the following items

Raspberry Pi 3+ complete starter kit

1 TB Hard Drive from my old laptop

HDMI cable

Keyboard and Mouse

Monitor

If this is your first time experiencing Raspberry Pi, you need to purchase a full suite of Raspberry Pi start pack: https://raspberry.piaustralia.com.au/little-bird-raspberry-pi-3-complete-starter-kit

Step 2: Choose what OS you want to run.

Bitcoin full node supports variety OS, such as Windows distributions (7,8,10), Linux distributions including Ubuntu, Debian etc and Mac OS. I decided to run my full node using Ubuntu Mate 16.04.2 LTS, since I have a sound understanding of the Ubuntu system and there is a compatible image for my Pi.

You can choose to run you full node on any version of Windows, Mac or Linux as long as it meets the full node minimum requirements.

Running Own Bitcoin Node

Step 3: Set up the hardware/OS

Install the system. You can follow the instructions here.

http://www.hospitableit.com/howto/installing-ubuntu-mate-16-04-2-lts-on-a-raspberry-pi-3/

Step 4: Install Bitcoin

You can follow the steps here.

https://bitcoin.org/en/full-node

Step 5: Configure your router to allow port 8333 on TCP/UDP protocol

You will need to configure your router to accept incoming connections on port 8333.

Step 6: Verify that your Bitcoin Node can be reached.

You can use the handy tool developed by EARN.COM: https://bitnodes.earn.com/ .The website gives you an overview of the Global Bitcoin Nodes distribution. It can also check if your Bitcoin client is currently accepting incoming connections from another node.

If you want a step by step guide to help you set up a Bitcoin full node on the Raspberry Pi 3+ with Ubuntu Mate 16.04.2 LTS. 

Running Own Bitcoin Node

Conclusion

Running your own Bitcoin node is a great way to gain a deeper understanding of the inner workings of the Bitcoin network and have more control over your own Bitcoin experience. By following the steps outlined in this guide, you can easily set up your own Bitcoin node and become a direct participant in the decentralized Bitcoin network.

FAQ

Q: What is a Bitcoin full node?

A: A full node is a program that fully validates transactions and blocks on the Bitcoin network.

Q: What are the benefits of running a Bitcoin full node?

A: Running a full node allows for greater control and understanding of the Bitcoin network and supports its decentralization.

Q: What are the requirements for running a Bitcoin full node?

A: A computer with at least 200 GB of free hard drive space, 2 GB of RAM, and a broadband internet connection with at least 400 kilobits per second upload speed.

Q: How do I set up a Bitcoin full node?

A: By downloading the Bitcoin Core software, configuring your router to allow incoming connections on port 8333, and downloading the entire blockchain.

Q: Can I run a Bitcoin full node on a Raspberry Pi?

A: Yes, running a full node on a Raspberry Pi is a cost-efficient way to participate in the network.

That's all for today, see ya tomorrow! If you want more, be sure to follow our Twitter (@croxroadnews)

DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. Please be careful and do your own research.

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