Indeed, its strength depends directly on numbers.
Specifically, the number of active Bitcoin nodes that support the network.
A recent tweet from Jameson Lopp reminded me that the Bitcoin full node I’d set up a few months ago to support the network was no longer running.
If there are 10K listening Bitcoin nodes & 100K non-listening nodes online then there are ~280K sockets available. SPV clients use 4 sockets, meaning ~70K clients can be connected simultaneously. Want to support more SPV clients? Need more listening nodes online. #FullNodesMatter
— Jameson Lopp (@lopp) January 24, 2018
So, after making sure I was running the latest version, I fired up the node.
I’m running this node on one of my Monero mining boxes, so, I expect that the mining hash rate will suffer a little. No matter. I figure it’s better to contribute to the Bitcoin network than worry about a few H/s, right?
This one of the nice things about the technical nature of decentralised, blockchain-based cryptocurrencies: the incentive to do the right thing is baked in!
Regardless of whether the motivation is selfish or altruistic, the end result is that the network gains support and grows stronger.
Do you run a node?
What is your motivation for doing so?
If you got something useful from this post, please share it on Facebook and Twitter so your friends can benefit from it too.
Donations and support are always greatly appreciated
BTC Wallet: 1LyutLaQ3sufbFcETue6kYbQHqZvYbvAD9
ETH ERC20 Wallet: 0xca0dd607339edee021fb95e4a63fc21f13f4de2f
LTC Wallet: LaPhoXcybZ3hHNs7jFeBo28uYXpYZe45w8
DASH Wallet: XtHavbmxb6gQixkBKXq2igQ2GhLUjLCh88
DOGE Wallet: DD2PN95XBgUvwRf5jbGV78d6nWEgVwjm4L
TL;DR Disclaimer: We are not financial advisors. We don't know what we're talking about. Do your own research and consult with a professional broker or advisor. Trading is risky. Investing is risky. We may receive small rewards if you follow links on our site. We endorse nothing. You are responsible for you.