Why & How to Run a Bitcoin/Lightning Node w/ MyNode
Рет қаралды 108,589
Күн бұрынWhy running your own node increases privacy and control. Demos of using a trezor hardware wallet thru electrum to create and sign a transaction, and then broadcast thru MyNode. Also, demo of using Zap iOS wallet via Tor to send a lightning transaction. Tour of apps on MyNode and features, and finally a walk-through of the setup process.
Raspberry Pi 4 4GB ram: amzn.to/3rRa6EN
1 TB SSD: amzn.to/2Os2SIO
32 GB MicroSDXC Card: amzn.to/3qvWlLD
Power supply: amzn.to/3u4dwGj
Case w/ built-in heat sink: amzn.to/3dh28kp
Ethernet cable: amzn.to/3afQWlS
If you'd like to support the creation of additional content, here's a bitcoin/lightning donation address: bit.ly/2NldSYA
fiat support: / curiousinventor
0:00 Why run a Bitcoin node?
5:01 Survey of node software options
8:17 Tour of MyNode features
10:05 Ride the Lightning wallet
10:36 Using Trezor w/ Electrum
12:18 Using Zap mobile wallet via Tor
16:14 MyNode setup walkthrough
Fantastic Ministry of Nodes in-depth walk-through:
• 01 - myNode series - W...
Nodes mentioned in video:
Raspblitz: shop.fulmo.org/ github.com/rootzoll/raspiblitz
NODL DOJO: shop.nodl.it/en/home/38-nodl-...
MyNode: mynodebtc.com/
getvoltage.io/
getumbrel.com/
docs.btcpayserver.org/Deploym...
lightninginabox.co/product/li...
EmbassyOS: start9labs.com/
@prula 3 жыл бұрын
Now 1 week later I have my own node up and running, build it my self with the help of Ministry of Nodes KZfaq Videos! Thanks for your video! You really helped me!
@growthwise1358 3 жыл бұрын
How much are you making??
@prula 3 жыл бұрын
@@growthwise1358 Its hard to get inbound capacity. I opened channels but I need people to open channels to me too otherwise i cannot transfer anything. I spend money so far. Its not in a useable stage for now its too complicated and expensive.
@nathanielphillips5929 2 жыл бұрын
@@prula I'm thinking about setting one up right now. Is it running very profitable?
@prula 2 жыл бұрын
@@nathanielphillips5929 not really! It need a lot of work and a good amount of bitcoin and connections to really get somewhere.. I see it as charity for the network and not as a way to profit from it. It is a great feeling to have one and you can learn a lot!
@AdamWhitney 2 жыл бұрын
How are things going now after a while?
@joediesel187 3 жыл бұрын
Great video. Setting up a lighting wallet step by step on mynode video will be helpful. Thanks.
@jeroenplayak2433 3 жыл бұрын
Great overview. Been running mynode for a while, but still learned a lot of new thing here. Thanks.
@jamestreadway165 3 жыл бұрын
How much are you making Jeroen?
@fijiwater3151 3 жыл бұрын
"not your node, not your network" is wayyy more catchy
@HarlandDWhite 2 жыл бұрын
Great breakdown!!
@mkmstillstackin 2 жыл бұрын
great overview. Thanks!
@prula 3 жыл бұрын
That's what I call a deep dive!
@alizee8004 2 жыл бұрын
one of the best video I like the way you have explain everything
@sl523 3 жыл бұрын
Welcome back! Great content on BTC.
@CuriousInventor 3 жыл бұрын
thanks! It's been an adventure playing around with a node and lightning, hope this helps.
@MasterYodaaa 2 жыл бұрын
This was a fantastic video. Thank you for sharing your knowledge with the world!!
@camilorylan138 2 жыл бұрын
I guess im asking the wrong place but does anyone know a method to log back into an Instagram account? I was dumb forgot the password. I would appreciate any tricks you can offer me!
@rylandecker2503 2 жыл бұрын
@Camilo Rylan instablaster :)
@camilorylan138 2 жыл бұрын
@Rylan Decker thanks so much for your reply. I got to the site on google and im in the hacking process now. I see it takes a while so I will get back to you later when my account password hopefully is recovered.
@camilorylan138 2 жыл бұрын
@Rylan Decker it did the trick and I actually got access to my account again. Im so happy:D Thank you so much you saved my account!
@rylandecker2503 2 жыл бұрын
@Camilo Rylan You are welcome :D
@2layers 2 жыл бұрын
As soon as I get my node running I'll send you a tip
@captaincool411 Жыл бұрын
This was a great tutorial video and it's great that there is a plug-in play device for beginners to understand however for me since I'm not an expert with computer programming I still couldn't understand a lot of the info in the part of the video relating to seeing the spreadsheet of all the code like transactions/wallet address/lightning network/and other programs etc. So far I just understood the plug-in play part and the apps are supposed to be wallets.
@mattyttv 2 жыл бұрын
Brilliant video, thank you
@evanmcdon 2 жыл бұрын
fantastic video, thanks!
@TrezorWallet 3 жыл бұрын
Nice vid!
@cardsigner 3 жыл бұрын
Question: Do every mining nodes construct the same block (ie, same list of unconfirmed transactions)? Or do every mining node construct different blocks (ie, different list of unconfirmed transactions).
@beachdigger3027 3 жыл бұрын
Great vid! Question, for users who do not compile their own code and use say myNode to run their nodes and do the regular updates, how is the average user to know what consensus rules they are actually running if they are not tech savvy? Are they not just "trusting" those who produce the myNode updates and not verifying?
@alexanderpa2868 2 жыл бұрын
MyNode pulls and runs Core as its Bitcoin Client, so you do "trust" both Core to do what it says and MyNode to use the official Core and no malicious Version. Both are open source, so anyone could/would spot bad intentions on either, but unless you compile or verify installs on your own, you always need some level of "trust", no way around it, but not only in the devs but in the whole community.
@imnotmati4239 3 жыл бұрын
Great video!
@socialite8218 2 жыл бұрын
This is very helpful.
@SplashFireFilms Жыл бұрын
very good explanation
@Lam-s-Workshop 3 жыл бұрын
Great stuff, thank you
@WillEberli 3 жыл бұрын
Argh... You've figured out some stuff I really wish I knew how to do. Would love to see you do a video on setting up RTL.
@CuriousInventor 3 жыл бұрын
I've got some RTL content already recorded, what would you like to see? I was going to include making channels, and also using the Loop tool to get inbound liquidity.
@WillEberli 3 жыл бұрын
@@CuriousInventor this is definitely what I'm looking for. I was able to successfully get some connections, however I wasnt able to successfully perform a transaction. Probably the inbound liquidity issue. It's all a little confusing to me so far, so hopefully you picked up on what my problem might be. Thanks for the video!
@WillEberli 3 жыл бұрын
A follow up, I'm not sure why, but I finally got a transaction to go through and now I have some inbound and outbound liquidity. This is the first time I connected to OpenNode.com, so maybe they have more connections to (in this case) Fold, where I tried to purchase some gift cards in the past and for the first time successfully, last night.
@CuriousInventor 3 жыл бұрын
@@WillEberli When I was trying to do Loop outs, I had to specifically open a channel with a node connected to the Loop node. In RTL, there's a "query route" tool under transaction that can help determine if there's a path, but since things are dynamic, no guarantee until you try.
@bestsoftwaresolution Жыл бұрын
fantastic video
@user-li4ci7su7c 2 жыл бұрын
Hi, may i know more about the node, why did i need setup my node?advantages, any materials or website for reference, please
@matthewpirro2264 2 жыл бұрын
Awesome video! I am interested in getting set up to contribute to the lightning network. Do you offer any type of 1 on 1 consultation?
@tendies 2 жыл бұрын
Great value!
@keithfaulkner1288 2 жыл бұрын
Thanks. I haven't decided if I want to start my own node. But if I do I'd like to send a tip.
@albertvanwingerden2433 2 жыл бұрын
Is the recently released luminos any good?
@blairmaxson4844 2 жыл бұрын
I researched the company background is quite reputable, maybe
@carloswilcher5154 2 жыл бұрын
@@blairmaxson4844 Luminos coin you said is this project right? @Blair Maxson kzfaq.info/get/bejne/jLSGktajq7_VgYE.html
@emiliobond6042 2 жыл бұрын
@@blairmaxson4844 LUMI in my opinion could be one of the best project of this year to get in, and they are on pre-sale now through their official website.
@jeroldborder3256 2 жыл бұрын
@@emiliobond6042 How can I buy Luminos coin guy ?
@NappyWayz 2 жыл бұрын
8:44 I don’t understand what you mean when setting up the Wi-Fi. Do you mean don’t use an external Wi-Fi/router to connect the node? Or only connect the node to a router?
@samueljohnson8324 2 жыл бұрын
Does the dedicated PC have to have any certain specs?
@lvgunas 2 жыл бұрын
having a problem, getting stuck on drive formatting ive had it up for 10+ hours and it wont budge. Any recommendations? Thanks!
@scorpiofrancis1119 3 жыл бұрын
just ordered all my equipment for My Node
@declineofthewest. 3 жыл бұрын
Give us an update when you can
@NikoNemo Жыл бұрын
Nice :) tell me, how electricity outage affects the node!?
@DogHonest 2 жыл бұрын
Please make more videos ;)
@theoriginalKland 2 жыл бұрын
How much do you have to deposit in your lighting node? is there a recommended amount or a min/max?
@CuriousInventor 2 жыл бұрын
You'll want to make sure you can pay the fees to force close a channel in a reasonable amount of time, and that depends on the current fee market. Today that's only $1-2 (see mempool.space/), so maybe $5+?
@ssshalabh 2 жыл бұрын
So do you earn something out of it too or running node is just for transaction confirmations?
@CuriousInventor 2 жыл бұрын
You can earn a small amount routing lightning transactions, but you probably need a few thousand US dollars in Lightning channels to earn even a small amount. And a fair amount of time to rebalance and maintain them.
@matkodeo 3 жыл бұрын
Hi. Thx for video. I run MyNode for a month, but have problem with inbound to the LN chanel. I have some Sats on 3th party LN Wallet and try to send it to my own LN wallet on MyNode, but I dont have sufficient inbound. Is there some way to get inbound? Some videos about chanels managemet on MyNode will by cool. Thx for work. Where is your lightning donation option? :)
@CuriousInventor 3 жыл бұрын
Just made a new video about this! kzfaq.info/get/bejne/ldh7Z8qKxqvdknk.html See bottom of description for lightning donation address (well, coming soon).
@runningrock124 Жыл бұрын
how do you download tor at 10:58? i still dont fully understand this whole section from 10:58 to 12:15
@rogerbrandt6678 2 жыл бұрын
Hi can you please tell me where to buy this. I’ve looked all over and don’t trust mexc.
@SacredScrollsYT 2 жыл бұрын
What are the gains?
@daveedviz8538 3 жыл бұрын
As a miner it seems advantageous for me to run a node on a rig I was building before geopolitics ruined the supply chain for cards. So would a 10 th gen celeron on a huge ext.SSD,b-360 A-Pro MB and 850w do it? run only 8Gb of ram but thats easy to bump up. And what about graphic cards?, are they as critical as they are to mining(very)?
@CuriousInventor 3 жыл бұрын
I think it's useful to think of mining as a completely separate activity and goal. Those specs would be fine for running a non-mining node, no graphics card needed.
@daveedviz8538 3 жыл бұрын
@@CuriousInventor Thank you, as it turns out we have an older xenon chip and 28 ter of ram doing nothing. Sounds like a jet but we think it'll fly.(pun intended)
@runningrock124 Жыл бұрын
great vid! thanks my LND is just been saying "scanning" for multiple hours now like at 18:56 yours says "running" where mine just says "scanning" any tips on how i can fix this? or what im doing wrong i cant get on RTL or anything without it
@runningrock124 Жыл бұрын
it was the LND update from v15.2 to v15.4 all good
@bellavega8048 2 жыл бұрын
How safe is this product from infiltration from a outside party?
@itsmark1991 2 жыл бұрын
Do you only need to run the node while you're making a transaction?
@Ireitsarof 2 жыл бұрын
you can, but in order to help butcoin become more descentralized you should consider running it full time
@WillEberli 3 жыл бұрын
Sorry, were you suggesting running the node on a guest network? I didn't quite understand that part.
@CuriousInventor 3 жыл бұрын
Opposite actually--running the node on ethernet, and switching your wifi to a guest network so it's separate from the network where your node runs. That way, if you gave random people your wifi password when they visit, they wouldn't be able to access your node.
@WillEberli 3 жыл бұрын
@@CuriousInventor so basically enable guest network and only give that network login out to guests. (that would work alright?) I do have my node connected directly to the router via ethernet.
@CuriousInventor 3 жыл бұрын
@@WillEberli That's right. Might depend somewhat on your router...
@mulimotola44 3 жыл бұрын
@@CuriousInventor But they still need your mynode password... DMZ sounds like an extra layer of security but not necessary
@CuriousInventor 3 жыл бұрын
@@mulimotola44 Agreed, maybe it's extreme to be defending against people that get into your own network...
@RyanMatta Жыл бұрын
Would you be interested in coming on the show for an interview to teach us more about the lightning network?
@Cruelcoil 3 жыл бұрын
I recognize your voice, did you talk with Stefan molyneu recently?
@CuriousInventor 3 жыл бұрын
Must have been someone else, wasn't me.
@pawitra81 2 жыл бұрын
can this use with rasberry pi 3
@dgrkd4ys876 3 жыл бұрын
Sooooooooo..... if I had this would it help against a 51% attack on a pool? If I am gpu mining?
@jonymanay 2 жыл бұрын
No and unrelated at all. 51% pool attacks happen when miners all jump on the same mining pool over 51% this leaves that pow coin vulnerable to a 51% attack that could take down the whole chain of that coin. This can be avoided by mining in different pools or solo.
@The1804BOSS 3 жыл бұрын
How can I run my own node on raspberry pi and if so what are the items I would need
@CuriousInventor 3 жыл бұрын
As long as it's a 4GB version, there's lots of software you can run on it. See the links in the description or go to 5min in the vid: kzfaq.info/get/bejne/ad6nYM9-p8ixlKc.html
@KimoKapaku 2 жыл бұрын
can you provide a beginners guide to obtaining a node hardware and setup?
@Bitcoinftm Жыл бұрын
I can do this :)
@Timmay4Liife 3 жыл бұрын
goat
@ashtongrist 2 жыл бұрын
not sinking in yet. I need the beggining bit
@WojySmokes 2 жыл бұрын
How profitable is it to run a standard lightning node? How much do you get a month?
@Ireitsarof 2 жыл бұрын
not profitable, only helps the network become more descentralized and increase or level of trust in bitcoin
@WojySmokes 2 жыл бұрын
@@Ireitsarof Oh ok. Ive set up other nodes in the past but they almost all required me to have a bank of crypto for the fees to run and operate them..
@flix3o3 Жыл бұрын
Every household will have one soon.
@WELiT2023 3 жыл бұрын
Can you do a video how to creat trading account in turkey or other country except America and Europe
@mikelezan1023 2 жыл бұрын
How much data is used monthly, or is this a non issue?
@2layers 2 жыл бұрын
I'm having a lot of trouble setting up https on MyNode. No matter what settings I change it always says "not secure" with a strike through https. Is anyone else having this issue?
@CuriousInventor 2 жыл бұрын
i think that's because your node doesn't have an ssl cert since it's just local... I don't think this means that traffic isn't encrypted, but maybe someone else can confirm.
@CKD21 3 жыл бұрын
I need to upgrade to a SSD but don't know how to clone my current hard drive! 😞
@CuriousInventor 3 жыл бұрын
MyNode now has a clone tool. When I did it, I cloned my hdd on another computer. In my case, my SSD was a few MB smaller than the HDD, which made clone attempts fail until I reduced the partition size on the original HDD to be smaller than the SSD. Good luck!
@CKD21 3 жыл бұрын
I got a 2tb HDD so if I get a 2tb SSD I wont have any issues right?
@CuriousInventor 3 жыл бұрын
@@CKD21 There are sometimes small differences in drive sizes. I recommend double checking.
@uria702 3 жыл бұрын
Macrium reflect is super easy and works amazing and it’s free
@user-el6wh4ou9q 2 жыл бұрын
Can this actually make profit or no
@CuriousInventor 2 жыл бұрын
Probably not unless you have thousands of $ in channels.
@PedroOjeda 2 жыл бұрын
important to note that if your node goes offline for the lightning network you can essentially lose all your money! lightning network does not have the same security as bitcoin. you address on bitcoin is safe if your node dies, but not your lightning network.
@CuriousInventor 2 жыл бұрын
While Bitcoin on-chain is certainly more secure, I think in most cases if your lightning node goes offline, the other node will just force close and everyone gets their portion of the channel. A nefarious node might try to get away with posting a revoked txn, but if you have a lot of money in a channel, you should probably setup a 3rd party watchtower. FYI, I shut my node down for 2 weeks to move and none of my partners force closed me.
@PedroOjeda 2 жыл бұрын
@@CuriousInventor You have just described a centralized network. The "3rd party" watchtowers is who 90% of the people using lighting network are trusting to protect their channels. Most people are just intalling an app, not realizing this is no different from using venmo. If the watchtower is compromised you are getting rekked.
@berbudy 2 жыл бұрын
@@PedroOjeda damn maybe he should make a video on how to build our own watchtower
@bovinogadoso7136 Жыл бұрын
How safe it is to buy a full node (such as MyNode) instead of building your own? I really would prefer to buy a pug-and-play node (such as MyNode), but then I would have to trust the manufacturer, wouldn't I?
@CuriousInventor Жыл бұрын
There is some risk with buying a pre-packaged node like MyNode, but I doubt too much. They have a reputation to maintain to continue selling, and I assume *someone* is looking at their software. After a year, I had some problems with reliability on my Pi (kept having to restart it), which might have been my own configuration messup, so I wouldn't feel confident putting a lot of money on it and testing the backup process thoroughly. If you're going to put a lot of money on it, maybe it's worth the effort to setup something yourself. It's actually pretty hard to avoid trusting anyone... are you going to review all the code for bitcoin core? For all the other wallet libraries? Even if you did review the code, can you trust the compiler? What about the compiler that compiles the compiler? What about the firmware in all the chips inside your computer!? 🤯
@btcmachinenft Жыл бұрын
Hi we are an ordinal project and looking to hire a btc node expert. would love to have a talk
@samanehrostami204 2 жыл бұрын
Is running a node profitable ? I mean , can I earn some money by running a node ?
@SarahSmith-gp1vz 2 жыл бұрын
Running a node isn't that much profitable these days , you gotta sacrifice your equipments for the security of the network and most of the times you don't get any thing back.
@samanehrostami204 2 жыл бұрын
@@SarahSmith-gp1vz So, is there any way to earn money in return for running a node ?
@SarahSmith-gp1vz 2 жыл бұрын
@@samanehrostami204 yeah, essentially you can earn some bucks a day by running a lightning node, but it isn't that much ,you'll have to keep it running for say a year or two to make it all back.
@samanehrostami204 2 жыл бұрын
@@SarahSmith-gp1vz Oh , that is typically what I was searching for , but is there any other way to earn some money by running nodes ?
@SarahSmith-gp1vz 2 жыл бұрын
@@samanehrostami204 well there is a new project called strongnode based on edge computing that is going to be launched in 3 weeks and it basically let's you money by providing your device's computing power to the network.
@Boatsman99 3 жыл бұрын
Separate Wifi via Guest network? Is that a joke? What's wrong with VLAN?
@BadHog615 Жыл бұрын
191
@VishnuLalnb 2 жыл бұрын
How to recover BTC from Lightening Network ?
@thecassette-ty1yz 2 жыл бұрын
Are you Satoshi ...?
@SelladorOfficial 3 жыл бұрын
Yeah this is absolutely convoluted and terrible for anyone who doesn’t have a net worth of millions or at least hundreds of thousands invested in crypto.
@amt68105 3 жыл бұрын
Yeah, maybe I'll wait a couple of years, maybe 10 to set up a node. too much work...
@crunchybones2528 2 жыл бұрын
time value of money. do it now.
@ronish6475 3 жыл бұрын
Now I totally understand why is this channel bleeding subscribers 👎🏻
@randyfig2826 3 жыл бұрын
Digital currency continue to reshape the world globally,the dip will be over soon it's sad to see the market dump.but on the positive side,buy more dip now as it is affordable and will spike later🤷♀️
@alexandrialondyn961 3 жыл бұрын
I remember friends calling me crazy when I started investing in bitcoin now I shut them up wit my 4figures weekly returns.
@jeffreywalter8082 3 жыл бұрын
And now??I’m sure you are in regret now that it has dropped, you won’t say you did not incure losses?
@alexandrialondyn961 3 жыл бұрын
@@jeffreywalter8082 I don’t make my profits by just buying and holding, i made my profits by letting a pro trader trade for me, so no i didn’t make no losses
@felixholden5200 3 жыл бұрын
I believe The market is just manipulated for now and with time bitcoin will come up again
@kylerdonovan4788 3 жыл бұрын
I wonder what gives you that assurance.
@mikeplaced3111 3 жыл бұрын
Too many ads so annoying. Very basic review better lighting content online. Thumbs down just trying to make money from newbies
@yagothanus7273 Жыл бұрын
inclreíble contenido, gracias hermano curiosInventor
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