What are the benefits to running your own node? And would you recommend running both or is one preferred? TIA
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20 sats \ 0 replies \ @OriginalSize 30 Jan 2024
Running your own node means you verify that the money you get onchain is real Bitcoin. You can also see that the total circulation hasn't been inflated. Since your node downloads the entire blockchain, nobody knows which addresses are yours either, so it's good for privacy. I'd recommend running your own node as part of the learning process so you know what is ground truth in Bitcoin.
Lightning is more challenging and I'd mainly do that if I were going to sell things in the $0.01-$1000 range for Bitcoin. There are mobile wallets that can do the lightning stuff by talking to your Bitcoin node.
Overall I'd say walk before you run. Sync up a Bitcoin core node on an old laptop running Ubuntu and go from there.
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20 sats \ 0 replies \ @OT 30 Jan 2024
Running a bitcoin node is a must! Better privacy and to verify your transactions.
Running a LN node comes with more costs and I think its more like running a business. There are some pretty good mobile LN wallets like Phoenix or electrum that give you LN functionality
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10 sats \ 0 replies \ @windward 30 Jan 2024
Just running a core node gets you:
- copy of the blockchain to verify transactions on your own in a private way
- enforce desired ruleset for bitcoin
- run your own block explorer to view & sort through transaction info
if you aren't running your own, someone else is running one for you when you spin up your wallet.
Running a bitcoin core node will get you to learn a little more about bitcoin, and your transactions will be more private as a result. The barrier to entry is relatively low. It's something I genuinely think every bitcoiner should eventually get around to if they're able.
Run a LN node if:
- you want to learn about liquidity
- you want non-custodial LN payments
- you are already running a bitcoin node
- you want to be more sovereign
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10 sats \ 0 replies \ @go 30 Jan 2024
Without one you cannot "Be your own bank"
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0 sats \ 0 replies \ @Enemy_of_the_state 5 Feb 2024
Running your own LN node really saves on LN fees, but I opened all my channels at 1 sat/vbyte
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