1. Meetup # 4 – September 8, 2022
Meetup # 4 – September 8, 2022
2. 2
Agenda
Agenda
Introductions
Purpose: “Our mission is to share bitcoin knowledge, tools, and resources in order to grow adoption within the local Round Rock community.”
Location(s):
Lamppost Cofee (Mention Oshi App)
Library $179 / hour
Baca Center ½ that price
Bitcoin Happy Hour at BrassTap or Alcove
Rules:
No shitcoining
No pictures/video unless we agree ahead of time
Be respectful to the establishment / families
Announcements:
OshiApp Lamppost Gift Cards
The Bitcoin Company Honey Badger
Circular Economy (Satoshi Square)
Azteco Vouchers
Onboard local businesses
Have fun!
Questions:
Who has made an on-chain bitcoin transaction?
Who has made a lightning transaction?
Who is running a bitcoin full node?
3. 3
We now have a twitter @rbitcoiners
We now have a twitter @rbitcoiners
5. 5
Why Run A Node?
Why Run A Node?
Altruistic Node
Validates copies of the blockchain from nearby nodes
Strengthens network decentralization
Asserts specific rules (e.g. Segwit signalling)
Economic Full Node
Verifies own transactions
Connected to a wallet
Mining Node
Participates in nakamoto consensus (POW; Longest Chain)
Confirms transactions by adding to blockchain
Block reward and tx fees
Lightning Node
On top of a bitcoin node
Facilitates own 2nd
layer network transactions
Connected Wallet
Routing Node
High bandwidth
Facilitates other’s transactions
Ability to collect micro-fees
“Uncle Jim” Privacy Node
On-chain bitcoin node – verify family/friends transactions
Facilitates own/other’s privacy txs (e.g. Payjoin (stowaway)
Facilitates CoinJoins (e.g. Joinmarket, Whirlpool)
Why is running a node important to you?
6. 6
What are some popular bitcoin node projects?
What are some popular bitcoin node projects?
Bitcoin Core
Reference implementation
Can run on an old laptop
Requires ~500GB of Drive Space
RaspiBlitz
DIY
Runs on a raspberry Pi
Fully Open Source
Umbrel, MyNode, & Nodl
Plug and Play
Lightning enabled (LND/Core Lightning)
“Swiss army knife”
Start 9 Embassy
Self-sovereign computing device (file server, pw manager, etc.)
Bitcoin core
Core Lightning
Ronindojo
On-chain only bitcoin node
Whirlpool Dojo (CoinJoin Suite)
Bisq-network and privacy tool integration
What kind of node do you run?
7. 7
What are some popular hardware wallets?
What are some popular hardware wallets?
Hardware (Cold Wallets)
●
Trezor (Open-source, non-custodial)
●
Ledger (Closed-source, HSM)
●
ColdCard (Verifiable-Source, Secure Elements, Air Gapped)
●
Seed Signer (Fully Open Source Hardware/Software; DIY)
https://bitcoin-only.com/wallets
What types of wallets have you used?
8. 8
What are some ways to connect a wallet
What are some ways to connect a wallet
(signing device) to a bitcoin full node?
(signing device) to a bitcoin full node?
Can you think of any other ways to connect?
HWI with bitcoin core
●
Multi device support
●
More complicated CLI setup
●
Advanced use cases; integration with custom
software
Electrum Server
●
Integrates with multiple plug and play node
setups (mynode, umbrel, etc.)
●
Easier network integration (including Tor)
●
Connect to your node remotely
Use Sparrow Wallet
●
Leverages all of the above in an easier setup
●
Can connect to a public node, bitcoin core, or
remote node via electrum server
9. 9
What can we verify?
What can we verify?
See Current Bitcoin UTXOset
bitcoin-cli gettxoutsetinfo
Returns the current
Get Blockchain Info
bitcoin-cli getblockchaininfo
Get general blockchain info, including mining difficulty, the best block hash, which chain you’re on, forks, and more
Get a Transaction
bitcoin-cli gettransaction transactionid
Returns details of a transaction connected to your node/wallet
Mempool.space
Blockchain explorer for your node
Includes visualizations, mainnet, testnet, lightning
Many More RPC Commands
Commonly Used
Full List
What other info might we need to verify?
