BITCOIN NODE VS MINER - WHATS THE DIFFERENCE?!
HTML-код
- Опубликовано: 14 июн 2024
- Learn the difference between a Bitcoin Node & a Bitcoin Miner and why they are both important to the operation of the Bitcoin Network.
__________________________
FOLLOW ME ONLINE www.adamobrien.ca
♾ twitter | / adamobrien_
♾ instagram | / itsadamobrien
♾ youtube | / adamob
♾ facebook | / itsadamobrien
This was expertly explained. Thank you, Adam!
It would be nice to see some rewards for people who run a full node. At least a nominal reward let’s say 10,000 Sats a day or perhaps a percentage of a pool of daily rewards across all nodes so the more nodes the less individual reward over time as more nodes are spun up. That’s about the equivalent of $2 a day. Not even a cup of coffee but then again it could attract people to run warehouses full of nodes.
This can cause centralisation
Thank you for this video!
I was looking for this explanation for 1 week thanks
What is the incentive to run a Bitcoin Node?
Nothing
@@muhammadm4582 wrong you can make money off it
@@charlessmith3940 how?
@@muhammadm4582 bitcoin pays you
@@sabertoothwallaby2937 nodes do not get paid, miners do.
Hey Adam Good to see you explaining stuff about BTC,
I still remember the day i did a bitcoin transaction with you in your Tesla in 2017 in Edmonton 😁
Hahaha the good old days!
We’ve grown up a bit and now have a beautiful office on Whyte ave with a team to help!
@@adamobrien_ oh that’s great i will surely visit you guys after this pandemic BTC to 🌙
Perfect short explanation 👏
Thanks for this.
How Nodes are incentifed by holding the transactions if the miners are incentified by Mining Fee and extraction of bitcoin?
did u get answered?
also, it's possible that bitcoin nodes are a trojan horse or a sort of prototype for the future peer-to-peer decentralized internet. no middle man between you and the bitcoin network, no middle man between you and the person you're sending information to online... plus the important aspect of increased decentralization for the bitcoin network...
2:28 Time has nothing to do with how hard it is to mine Bitcoin, There is something called 2 week mining difficulty adjustment which adjusts how hard it is to mine BTC based on how many miners are mining and the total hash power they poses.
very true
@@guillaumelacroix8730 hi
Glad some one else commented this. Difficulty isn't destined to increase by design, it's calibrated to keep block times consistent. Increasing difficulty is rather the consequence of more compute solving blocks faster.
what did the node do bro! are bitcoin node and diamond node from Diamond Bank Dao are the same ?
How do I get setup with the rasberry node?
Does is use less data than conventical nodes?
I have Bitcoin Core running on Ubuntu 24/7 with the entire blockchain downloaded. Using SSD drives and Starlink high speed unlimited internet. I also have a wallet installed and open in Bitcoin core. But this is all new to me. Questions: Is my system automatically working as a node, or do I need to do something else? There are 10 peers connected all the time. And, how can I run a Lightning node along with this? Or would it better to only run a Lightning node and not the Bitcoin Core? Many thanks!
it is possible to full node connect with mining node(minerpool) ...? means i have full node and connect with third party miners like f2pool,antpool extra. it is possible....?
Thanks
Great Video
Do most miners run nodes?
Hi, Subscriber here and enjoy to your content! Have you heard of or experienced the ABZ miner? Thanks for doing what you do!
Good job
what incentive for people to run nodes ?
hey great video.
I have a question, do nodes make money? If yes how do they do it?
No they don‘t
@@DarkCloud360 so what incentives they get since they do not get paid
@@mohammedalsinani9263 a safe network.. AND you can run lightning at the same time on the node so you have your own lightning channel.. So if you own a store you can receive payments in BTC on the lightning network AND help the bitcoin network a safe place.
Interesting stuff
For Bitcoin Node, how much btc or usdt earn for a month? Thanks
Close to $500 a month but with cloud mining you can make $3000 in a week
@@ryanwashington1841 how Can earn with bitcoin node, can you explain
@@ryanwashington1841 how Can get 500$ a month, Can you explain it
Is the node runner get a paid or fee??
$200 dollar raspberry pi? $200 dollar SSD? I have a $200 dollar magic bean to sell you :)
And if you run a node, how many money do you make per month average?
$0.00
Hey Adam, what do you recommend for a small, pre-made node?
They won't tell you everything
These men cloud mine thier BTC
And make a whole lot I actually just found out and I'm mailing $ 3000 per week From bitcion
@@ryanwashington1841 what processor and graphics card are you using?
@@hubrisdog7358 you don't need anything special to run a node, any old laptop with a 1 TB SSD internet connection and BAMM your away
Thanks for the explanation but I won’t get anything for running a node.
Wai treally?
a safe network.. AND you can run lightning at the same time on the node so you have your own lightning channel.. So if you own a store you can receive payments in BTC on the lightning network AND help the bitcoin network a safe place.
What did the node do,?
Do miners really solve algos or do they guess all the possible outcomes?
What kind of earnings can we expect with a node? Thank you
I don't actually think you should expect much at first but overtime you should get a reasonable amount
That's why I prefer cloud mining
What is use of maintaining nodes and Data Miners if all the 21 Million Bitcoins are into supply?
To ensure that NO new bitcoin will be produce into supply. 21 Mil hard cap will not be inflated
How much money can I make running a node?
Hey if you mine bitcoin already is there a benefit to becoming a node??
Earning ≡ on Lightning Network :)
Will there be diminishing returns for mining that will lead to fewer and fewer miners? If so, could that lead to collusion that might destabilize the decentralization?
I think this issue is gonna be addressed if some company will use this as their main selling point
@@lionheart6119 yeah thats a pretty standard issue problem
the idea is the transaction costs will need to be paid eventually by all the users, once the returns shrink over time. the same as that all bank account holders are (partially) paying for the costs of all bank transactions.
The price of Bitcoin will just go up so it's ok
miners will just shutdown if there is little reward, no big deal, just keep DCA'ing and HODL.
Am I on the right track here in saying that essentially Nodes keep track of the transactions and account balances to make sure the network is all real and legitimately up to day while the mining more so helps with the supply and approving of transactions that are taking place. The key link being that all the transactions that the mining approves are cross checked with the blockchains existing ledger records on the nodes to ensure the record of transactions continues on the same pattern is has so far as more and more transactions occur?
That's pretty spot on mate although as new data is appended nodes will also ofcourse be matched against the ledger of other nodes to prove legitimacy.
But nonetheless exceedingly well done you'd about nail it.
Any way to connect to you ?
benifits of bitcoin Node ?
Why the miners are incentivize and node are not?
because big tech are much greedier
Can you share more about the profit of running Bitcoin node?
There are multiple videos regarding this. dyor.
This has to be the most palatable explanation to date
Hi guys anyone know what IP node 27 ?
Miners are incentivized by what ??
We’re do you buy one
For now it's not actually profitable to buy node
You should rather try cloud mining I make $200 every 3 days just mining from Friday to Sunday cause of my busy schedule you can make More depending on your mining speed and mining habit
$200 Raspberry pi?
$200 being very affordable... 2:05
Me: getting into bitcoin because dust keeps coming out my wallet 😬
You could make more than that if you cloud mine
I kinda want to run a node.
You should definitely run a node!
How much you get paid to have a node ?
I think they're gonna pay you to run nodes
Is running a node profitable ? if so which nodes should I run to earn decent ?
Running a node is profitable as long as it pays for itself within a 1 year span, you can actually run a lightning network node to make some bucks a day.
@@SarahSmith-gp1vz Well, that is the case for me in fact I want to earn some side cash, and I don't have much money to buy some mining rigs, the only way for me is to run nodes and earn a few bucks a day!
@@samanehrostami204 yeah, your only chance would be to run a lightning network node as long as I'm concerned and you can typically earn a side cash flow if your equipment let's you to !
@@SarahSmith-gp1vz oh, that is cool, Is there any project or something that lets me do the same with a low end device ?
@@samanehrostami204 well edge computing technology has come for that in specific, it let's all devices on earth connect to each other and perform a specific purpose then get payed in return for their computational effort !
Why are miners incentivised to use green energy? Thought cost was the key factor
Green energy is free after initial investment :)
I ran a node with aws. I lost money. No benefit for me.
Noded that
So running a node will earn you a passive income?
Looks like it
Basically you're using your device's untapped processing power to run a node
@@fatimabautista9068 how will you run it then?
@@fatimabautista9068 Isn't it harmful for your PC ?
@@fatimabautista9068 If you're using the untapped processing power since this is a reserve power for your CPU?
Can someone make money JUST from having a node running?
Unfortunately no
But that can be done by cloud mining
Does a Node gain any part of Bitcoin as miners do?
No, unfortunately.
No but that's why we cloud mine
With cloud mining we make $200 to $1000 based on your mining speed and mining habit
You've explained nothing... why would I want to invest in a node?
To support the network (more nodes means better speed, transactions, finding bug's on the network, less hack's like the 51% attack and it makes the blockchain run better). It's more like a ''volentery investment''. Plus it uses less power & its cheper than mining similar to PoS, there are some nodes (depending on the coin) that let node operators take fees (small reward; for example bitcoin LN Network node) for runing and checking transactions witch is also a volentery option.
a $200...Raspberry Pi?
Why can’t anyone just say how much these earn? Is it the equivalent of 50 dollars a year or some low figure?
Nodes don't make any money. You run them to keep the network stable.