The Importance of Bitcoin Network Fees and Running a Full Node

The complexity of Bitcoin network fees and the challenges of managing transactions and block size are hot topics in the current Bitcoin space. A common misconception is to refer to Bitcoin transaction fees as "Gas fees," which is actually a term used in Ethereum. Bitcoin fees are calculated based on transaction size, rather than the computational work like in Ethereum.

Recently, the congestion and high network fees caused by BRC20 tokens on the Bitcoin network have attracted widespread attention. This not only affects user experience but also leads to a significant increase in the UTXO set, which may pose challenges for the future development of the Bitcoin network, such as increased computational and storage demands.

Running a Bitcoin Full Node may not have direct economic benefits, but it plays a key role in maintaining network integrity, resisting censorship, and ensuring trustless validation of the blockchain. This is crucial for protecting personal financial privacy and the ability to trade freely. Full Node operators can also play an important role in network upgrades, as evidenced by examples like BIP 148 and the Segregated Witness upgrade.

The design philosophy of Bitcoin is to limit power to protect individual freedom, which makes it stand out in the cryptocurrency field. Unlike other cryptocurrencies that may cater to concepts of power and authority, Bitcoin aims to create a system that is free from single points of failure and resistant to censorship, ensuring financial privacy and transaction freedom for individuals.

For those who believe that power can do everything, it may be difficult to understand the true value of Bitcoin. Bitcoin was not created to give power to certain individuals but to limit all power, thereby protecting individual freedom. This philosophy is at the core of Bitcoin and is where its unique value lies.