You're absolutely right. I ran 5 different nodes. (Up to 6.5 BTC routing node) Lost millions of satoshis in each. Even in the Alby Hub node I lost 880k due to a bug. Fortunately Alby offered me to pay me 50% of the money back without asking them Great people. But anyway. Running Alby Hub on Start9 again. But the normal people won't run lightning nodes. Only freaks like us.
Discussion
I am convinced people run nodes, and see how much easier it now already got.
backup is still the hard part but we will also solve this.
what is the main issue that you think people will not run a node and take control over their funds?
Most people don’t want to learn or even think about channel management. They just want to press a button and receive money without dealing with liquidity.
which is fine, isn’t it?
it gets easier, thus the barrier of entry gets lower. and I am convinced more people understand the benefits.
it will always be a bit more complicated than giving up everything and put others in control, but more people also understand the benefit of not doing that.
I also think that lightning node OGs are a bit burnt, because of the early experience of running a node was so much more complicated.
I like the comparison:
if you asked early pilots who embarked on the adventure to fly across the ocean they would have that it will never be possible for an average person to cross the atlantic on a plane… and here we are.
You’re right about OG node runners. Things are much better now. But I still think there’s a long way to go. Most people don’t even understand the difference between bitcoin an crypto, let alone know about Lightning, ecash. (BTW, Alby should support ecash.)
yes, it’s a long way… a marathon not a sprit. but we’re all on that one and not in it for the quick win.
how should alby support ecash?
It has a similar problem as one is not in control over the sats and mints at a certain scale will have issues. (which is my main worry)
i personally think ecash is a doomed endeavour because it has all the problems of the fiat banking system and will attract this kind of operator
there will be like 3 good mints and the rest will be gouging fees off you, just like the fiat banking system
Main reason to run a node is to keep the network decentralized.
For the first 20 years that is to ensure a relatively fair emission -- which 99.9% of other coins dont have. This makes bitcoin open rather than proprietary.
The second reason is to keep the network secure. Dev in bitcoin is very good, but it is not bullet-proof and had to be fought for. There have been multiple civil wars already, won by the users. The power of a UASF can be used for good or for bad. I believe alby users will be a force for good, because bumi has always defended users and bitcoin.
We will face another group that tries to for bitcoin. Either a soft fork (OP_CODEs) a hostile miner fork (drivechainers) or a hard fork. Some forks are good (e.g. consensus cleanup), some are bad (e.g. drivechains). All forks are bad because they risk a chain split. And a chain split could be terminal to both splits, and damage investors that put their trust in bitcoin. We will need to fight and win 1-2 more battles like this before bitcoin becomes a long-term asset, which I think everyone wants. Alby hub and its culture may be what tips the balance.
The other stuff including lightning is a "nice to have", but more for hobbyists right now. Glad it's getting easier over time, tho.
>Main reason to run a node is to keep the network decentralized.
No... the main reason to run a node is to validate your own transactions privately.
Plebs of little to no economic relevance have practically no impact on the outcome of forks or Bitcoin's "decentralization".
Run a node for your own benefit, or don't, but let's not pretend doing so is an altruistic act.
UASF also acts as a powerful signal. It was critical in the past.
UASF worked because economically significant actors rallied behind it.
The larp of every user running a node just for the sake of defending the network is just that... a larp
I agree so much with this. There is alot of LARP. But nevertheless users and UASF offer a counter balance to those trying to fork bitcoin, another layer to the game theory. Would you not agree with this.
Wait a second. The economically significant actors backed segwit2x.
No they didn't. VC-backed companies are not the economically significant actors within the Bitcoin community.
Actual skin in the game Bitcoin holders wanted nothing to do with the fork, as evidenced, for example, by Finex's futures market at the time.
It's a good point and we've probably covered enough for one day, because I'd like to keep the discussion going and for it not to turn adversarial. But the miners were significant actors, too. Both VC backed and Chinese. Had they teamed with roger they would have got the longest chain, with slush pool mining the minority chain with about 5% hash. That would have lead to a 1/4 ing of the hash. And the other chain races ahead, btc becomes a chew tow for the miners with famine and feast or chain death. Dont get me wrong the futures market played a big role. Though it was not even fully understood at first. But there were multiple prongs to the defense strategy. Ends.