Sunday, April 19, 2020

Here is a challenge for r/bitcoin and your friends

Dear Community, I would like to advertise a challenge that just came around my mind, thinking about ~ 11 May - the Halvening nears!

You don't know what the halvening is? Check back here, after you watched Andreas briefly explaing it.

The Challenge

Watch the 3rd Bitcoin halvening from your own full node! This means setting one up if you don't already have one and come around a tool to watch the blocks trickle down onto the chain, live!

Share your own node setup on r/bitcoin and your favorite communication channels when we halve!

Recommendations:

  • Following a well known guide for a full node / lightning node. I can recommend the Bitcoin part of Stadicus/RaspiBolt on GitHub
  • Purchasing adequate hardware, easiest (even an old tower PC is ok, but you need it running continously):
    • RaspberryPi 4
    • 2,5" external drive with at least 500 GB (SSD is faster than a HDD)
    • Stable power source for your RaspberryPi 4, your phone's charger won't be the right choice
  • Using janoside/btc-rpc-explorer on GitHub as a visualization tool with Electrs (this is all part of the RaspiBolt guide)
  • Don't just stop here if you had fun! There is still time until the halvening? Go further and dig deeper, maybe you can show us something on top when block 630000 hits!

Limitations

The blockchain takes some time to verify as you download. Start early, you still have plenty of time but you want to start around the beginning of the first week of May at latest!

Searching for tools in the world wide web comes with a huge influx of shady sites that want to grab crypto assets from a new-be. Make your own research, browsing multiple well known sites or ask the community of r/bitcoin, i.e. in the daily thread. This should not only be done when you are unsure about a specific tool or guide, but in general!

"I have no idea about the tech, why should I take part?"

The great side effect is, that after completing this challenge you can now trust yourself and no shady b(ch)lockchain.com sites while waiting for your tx confirmation. Also, hands-on is probably the best way to take the red pill in the Bitcoin space and it's great technology.

Edit: Typos



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