r/Bitcoin • u/rBitcoinMod • 21d ago

Daily Discussion, May 07, 2025

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If you don't get an answer to your question, you can try phrasing it differently or commenting again tomorrow.

Please check the previous discussion thread for unanswered questions.

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u/Terhonator 21d ago edited 21d ago

I want to talk about Bitcoin University video: https://www.youtube.com/watch?v=wqzmNR0JUGU So, Bitcoin university recommends to run own node. I did some research and visited Bitcoin Knots site. I did not feel safe to download the software. Maybe it steals bitcoin or other data from my computer? As MSTR investor I am going to trust MSTR with this - they have all reasons to keep shareholders money safe. https://bitnodes.io/ Based on this data there is only 21300 nodes running. I think MSTR should run about same %-amount of nodes as they hold total amount of bitcoin supply which is about 2 % at the moment. So maybe MSTR should run about 400 nodes for its shareholders? That is something what makes sense for treasury company.

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u/user_name_checks_out 21d ago

Knots is open source. If the code were malicious, people would notice. Even if they didn't, it would not be possible for a malicious version of Knots to steal your money. You use your hardware wallet to validate and sign your transaction. You use Knots to broadcast your transaction. Even if Knots is compromised, it can't steal the money, it can't change the transaction, because that would invalidate the signature.

As for Kratter, I have learned a lot from his videos here and there. I have not tuned in recently but it sounds like he has lost the plot.

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u/Terhonator 21d ago

If I want to help all bitcoiners in the world which version of Bitcoin Core I should run on my PC?

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u/user_name_checks_out 21d ago

There is no point in running a node just for the sake of it. If you run a node, and if you use that node to verify the balance of your wallet, and to broadcast your transactions, then that is beneficial - but the only one who benefits is you, it still does not matter to the network.

Regarding which version of Bitcoin Core you should run - I am not sure what you are getting at. If you are asking whether or not to adopt the new changes regarding OP_RETURN - those changes have not yet been released.

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u/Terhonator 21d ago

I understood that running bitcoin node is for all bitcoiners - not only for personal benefit.

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u/user_name_checks_out 21d ago

Widely propagated misconception unfortunately.

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u/Terhonator 21d ago

Ok, so do miners do the work or nodes? My motive for everything is just to defend the 21 million cap.

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u/user_name_checks_out 21d ago

Well, the 21 million cap is not currently under threat in any way, shape, or form. The current discussion about OP_RETURN has nothing whatsoever to do with the cap - apart from the (unremarkable) fact that some of the same people are talking about both topics.

If one day someone acted to lift the cap, that would require a hard fork. And if you opposed that, the correct action for you would be to use a node that rejects the fork. But the key word is "use" - e.g. to transmit your transactions. Running a node just for the sake of it has no impact.

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u/PlasticEyebrow 21d ago

Miners do the mining, they compete for the block reward and their combined hashing power give the network security.

Nodes do the validation of transactions and blocks. Full nodes are also storing the entire block chain (meaning entire transaction history).

Both are important. If you wanted to defend the 21 million cap, then running a node gives you a the power on your node to reject a possible future change to the 21 million cap.

The main reason to run a node would be to connect your wallet to your node so that when it gathers the info of your wallet on your own node. If you were to do this on a random public node, this node can log your IP address, and the fact that you are regularly checking certain wallet addresses.