I'm a software eng. I have a hardware wallet.
Should I self host a Lightning node? Is it worth it to self host a Bitcoin node?
I'm looking for a mix of convenience and security.
Discussion
Yes, but I wouldn't put your stack on the node. Keep the stack in cold hard storage and just use a bit on the node for zapping, paying and spending.
Thanks. Yeah that part is clear, I'm wondering if there is any guide for tech savvy engineers to set this up, without doing the research myself.
Have you thought about what kind of hardware you want the node to be on. I'd be interested to know if you have any thoughts on that given your engineering background.
I'm considering to do it on dedicated hardware, either on a rented server or at home. For work I use Hetzner servers, but they explicitly disallow anything that has to do with cryptocurrencies, so I'll have to go with someone else.
Self hosting a bitcoin node = yes. Verify your own transactions. Otherwise you’re trusting someone else’s node to verify your bitcoin.
Self hosting a lightning node = yes, but it depends what you need/want out of it. Running a full always on 24/7 routing node with multiple channels will teach you a lot about bitcoin and lightning. It also can consume a lot of time, and requires ongoing attention and maintenance to ensure you have adequate liquidity, channels stay open, funds aren’t lost, etc. If you simply want a lightning node to send and receive payments, and it doesn’t need to be always on, then a mobile node app/wallet like Breez or Phoenix may be the better way to go for that.
I don't think I can use Phoenix to receive Lightning tips from Nostr posts, can I?
I guess I'll be renting a dedicated server and setting a full Bitcoin and Lightning node one of these weekends.