I'm not a lawyer, I'm not sure what will and won't hold up in court. I think the main problem would be if you operate a node that's not just a consumer but also uploads blocks, it could be argued that you distribute the potentially infringing content. At this point your ability to actually view the content yourself is moot. You're basically operating a peer-to-peer network that can be used to distribute arbitrary data.

>The number "Pi" contains all hate speech and other illegal content imaginable.

That's irrelevant. If you don't think so try downloading child porn, get caught and argue that "it's just decimals of Pi!". Report back with results.

Just to clarify because this is widely misunderstood - hate speech is not a crime in America. Though it is in other western countries like Germany and New Zealand.