How to install Bitcoin Core on Centos 7?

Ardi Coetzee Written by Ardi Coetzee on 1 September 2020

I need to run my Bitcoin Core node so that I can run my own Electrum Server that is not dependant on 3rd parties. I am using Centos 7 and need an UNPRUNED copy. That means I will need:

  • About 450 GB of Disk Space
  • At least 2GB of Ram
  • A decent internet connection

(Full requirements can be found here)

I am using a dedicated server for this, so I should have no problem. But for many, the biggest problem is the 450 GB of space, especially if you want to run it on a SSD (Solid State Drive) which is usually significantly more expensive than SATA. 

This is how you can install your own Bitcoin Core node:

  1. Start by downloading Bitcoin Core and make sure it is not tampered with by comparing the signature. Full instructions on how to do this can be found here.
  2. Create a user called "bitcoin" 
  3. Extract the zip file to /home/bitcoin/DOWNLOAD
  4. Install the bin executables for everyone:
      sudo install -m 0755 -o root -g root -t /usr/local/bin bitcoin-*
  5. Run the daemon:
      bitcoind -daemon

Once running, these commands will be useful:

  • Stop the daemon:
       bitcoin-cli stop
  • Start it again:
       bitcoind -daemon
  • Check the status: (i.e. how many blocks have been processed, and how many are remaining)
       tail -f .bitcoin/debug.log
    This will show something like this:
       2019-12-26T08:18:26Z UpdateTip: new best=xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx height=193999 version=XXXXXXXXX log2_work=68.540511 tx=XXXXXXXXXX date='2012-08-15T09:44:56Z' progress=0.012265 cache=114.1MiB(XXXXXXXX)
    Notice the part in bold that says progress = 0.012265. This means progess is about 1.2265%. However, keep in mind that progress is initially fast, but does get slower over time. (I did read why this happens, but can't find the reference now)
  • Or an easier way to check your progress is shown below: (I got this from here)
       echo `bitcoin-cli getblockcount 2>&1`/`wget -O - 2>/dev/null`

About the Author:
Ardi Coetzee
Ardi is the Chief Technical Officer of Koinexpert. He has a Bachelors Degree in Computer Science and over 15 years of development experience. He has been involved in the development and maintenance of since it was launched in June 2019. Ardi is an avid Crypto Enthusiast and armed with his programming skills, a true asset to the Koinexpert team.


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