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It costs a couple hundred bucks to setup the hardware to run a Bitcoin node. As of today's exchange rate, you need ~$130k to stake ETH.
by chrischattin 5y ago
It costs a couple hundred bucks to setup the hardware to run a Bitcoin node. As of today's exchange rate, you need ~$130k to stake ETH.
- drdeca 5y agoWait, to run a node (like, just keeping track of the chain), or to mine in a way that isn’t entirely ineffectual? Because the former doesn’t seem like the proper analogy to staking.
- chrischattin 5y agoYou can mine with a Raspberry Pi. It won't be profitable. But, you'll be contributing to the security of the network.
- drdeca 5y agoWhat is the impact of a miner on the security of the network, conditioned on the event that it never successfully mines a block? I would think it would be 0. The probability that a raspi ever mines a block (like, if it were to start now, not if it was going since the network first started) is negligible. Therefore, I consider the probability that a given raspi would contribute to the security of the network, or, I suppose equivalently, the degree to which it contributes, to be negligible.
- chrischattin 5y agoThe way I understand it, nodes help validate transactions in real time. They keep everyone else honest. Otherwise, whoever mined the block could inject whatever they wanted. Everyone on the network is validing transactions.
- drdeca 5y agoSure, that's running a node. That's not mining. That's not analogous to staking. The analogy to staking would be mining. The analogy to running a bitcoin node would be running some variety of ethereum node, not staking.
- SwagtimusPrime 5y agoIt also costs a couple hundred bucks to run an Ethereum node. You are confusing running a validator and running a node, those are two independent things, just like mining and running a node.