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-0.19.0.1/bin/*
  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 - http://blockchain.info/q/getblockcount 2>/dev/null`
 
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