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Thursday, June 24, 2021

TechSource: How to Easily Install a Full Bitcoin Lightning Node on a Raspberry Pi

TechSource: How to Easily Install a Full Bitcoin Lightning Node on a Raspberry Pi

How to Easily Install a Full Bitcoin Lightning Node on a Raspberry Pi

Posted: 23 Jun 2021 08:56 PM PDT

I recently installed a full bitcoin node on our home network, and lucky for me, I got everything up and running quickly without bumping into some issues. Before I will show you the steps on how to install a full bitcoin node, allow me to explain some of my reasons why I ended up doing this. 

As some of you may already know, bitcoin is a network composed of thousands of nodes. A record of every bitcoin transaction is verified and maintained inside a node. So if you are running one, you will essentially be hosting and sharing a copy of the bitcoin blockchain and you will help maintain the network decentralized. 



What are the benefits of running a bitcoin node?

Unlike mining, you will not be rewarded with a bitcoin when running a node because you are simply giving support to the network instead of solving complex computational math problems. However, one of the main advantages of running your own node is that you can do some transactions on the Bitcoin network without the need for a third party provider thus allowing you to save money for the fees. For added peace of mind, you can connect your wallet and forward all your transactions through your own node, making sure that every transaction is safe and secure.


For me, another reason for running a node is for educational purpose and taking a deep dive on the blockchain technology. I am very passionate about this emerging tech because it is already shaping up to change the world for the better.


Without further ado, here are some of the steps that I have followed to easily install and run a bitcoin node:


Step 1: Prepare the hardware


You don't need an expensive mining rig to run a bitcoin node. I bought the following items, but you can always use your existing hardware provided that you have all the recommended system specs:


1. Raspberry Pi Model 4 (Particularly, I bought the Model B with 4GB RAM starter kit that includes the power adapter, 16GB microSD card, and case)



2. 1 TB SSD (SanDisk SSD Plus 2.5" 1 TB SATA III Internal Solid State Drive)



3. SSD Enclosure (SENDA Transparent USB 3.0 SATA III 2.5 HDD/SDD Enclosure)



Note: I bought all the items at Lazada and the total cost is around 10,000 Philippine Pesos (200 USD).


Step 2: Download the software


Download Umbrel OS HERE and extract the file. Download Balena Etcher HERE and install it on your computer.


Note: For downloading the software, obviously you will need a laptop or desktop computer. A microSD card reader is needed for flashing the software to the microSD card. 


Step 3: Flashing Umbrel OS


Put the microSD card on your card reader, open Balena Etcher, and flash the downloaded Umbrel OS to your microSD card. After flashing, remove the card and insert it into the Raspberry Pie.


Step 4: Plug it up


Put the SSD drive into the enclosure and plug it into any of the blue colored ports (USB 3.0) of your Raspberry Pi. Connect the Raspberry Pi to your Internet connected router via ethernet cable. Connect the power supply and power up your Raspberry Pi. 


Step 5: Starting up


Around 5 minutes after powering up, Umbrel OS can be accessed at http://umbrel.local on the web browser of your device (smartphone, tablet, desktop or laptop) that is connected to the same network as the Raspberry Pi.  



Follow the initial set up of Umbrel and enjoy running your very own bitcoin node. 






I am still exploring some of the features of Umbrel and might write a quick review about it soon, so watch out!

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Posted by z0ltrix at 2:23 PM 0 comments

Tuesday, June 15, 2021

TechSource: The Bitcoin Revolution is Here

TechSource: The Bitcoin Revolution is Here

The Bitcoin Revolution is Here

Posted: 15 Jun 2021 02:33 AM PDT

Since 2014, I've been talking about bitcoin here (read: Is Bitcoin The Next Open-source Software Revolution?, Best Bitcoin Applications for Linux). Back then, bitcoin was still very much in its infancy and our articles about it were some of the least popular posts we've ever had. However, I have already seen its potential and proclaimed that it could become a revolutionary open-source software project and that it has the potential to be bigger than Linux. 


Today, bitcoin and cryptocurrency in general have already gone mainstream in terms of popularity. Although widespread adoption could still be a few years away, different personalities like social media icons, hip hop moguls, top athletes, famous actors, financial gurus, and several billionaires are already talking about it incessantly. 


Speaking about widespread adoption, different countries have already started recognizing the value of cryptocurrency. In fact, one country has recently passed a law to make bitcoin its official currency. I believe more countries will follow after we will all be able to clearly see the positive economic impact of having a legal tender in bitcoin.


Recently, we have witnessed institutional investors or publicly traded companies that have started filling their balance sheets with bitcoins. To name a few, there's Tesla  (invested around 1.5 billion dollars worth of bitcoin), Microstrategy (250 million dollars), Galaxy Digital Holdings (176 million dollars), and Square (50 million dollars). 


Although I am not a financial advisor and this site is not about making money, I encourage you to consider investing it bitcoin. Forgive me for not telling you this in 2014 when 1 bitcoin was equivalent to around 500 dollars. At that time, buying and selling cryptocurrency was difficult because there were very few trusted exchanges and wallets so the possibility of losing your investment was enormous. If ever you decide to invest in cryptocurrency today, I suggest that you do your own research first because, like all others investments, there are still risks involved, albeit much lesser than before. 


After promoting Linux and other free and open-source software in the past, I have decided from now on to focus most of my time here in writing about bitcoin, cryptocurrencies, and other interesting blockchain projects. I think it is about time to enlighten people that bitcoin is not purely a speculative asset, but something that is more valuable because of its capability to empower people from around the world. Like most of you, I find joy in freedom and for me bitcoin is freedom. Now, I can safely say that the cryptocurrency revolution is underway, and we are just getting started. 

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Posted by z0ltrix at 12:53 PM 0 comments
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