i will wait. how your derivation doom scenario plays out on 20 percent of the supply.
nope
would ne interesting to see if opening and closing lightning channels means moving? I guess yes although node operators keep their sats. So the real number of hodlers could be higher?
#bitcoin #lightning basics:
HTLC stands for Hash Time Locked Contract, and it's a concept used in the Lightning Network and other blockchain payment systems.
Here's a simple explanation:
1. **Hash:** Imagine you have a secret code or a puzzle (hash). This is known only to the sender and receiver.
2. **Time Locked:** There's a time limit set for the puzzle to be solved. If it's not solved within a specified time, the transaction won't go through.
3. **Contract:** It's like a digital agreement. The sender puts funds into this agreement, and they can only be released if the receiver solves the puzzle within the given time.
So, in practical terms, when you want to send money using HTLC:
- You create a puzzle (hash).
- You set a time limit for the receiver to solve the puzzle.
- You lock the funds into this time-locked, puzzle-protected contract.
The receiver, to claim the funds:
- Solves the puzzle within the given time.
- The contract unlocks, and they get the funds.
If the receiver can't solve the puzzle in time, the funds go back to the sender. This mechanism helps in secure and conditional payments, making it a key feature in enabling fast and secure transactions, especially in off-chain solutions like the Lightning Network.
they earn a shitload on routing fees. I think a good solution for now is that realiable noderunners onboard their family to lightning through their own node and be their custodian.
All those on the fly non custodial lightning providers charge / have to charge a lot for hosting/opening a channel due to fees right now.
Maybe you can put in your node information from an lnbits account into their blue wallet to be their custodian for lightning✌️
I can totally recommend blue wallet. No hickups so far.
Earning some sats for routing is not a yield on #bitcoin because you hold your keys.
People will learn that in a few years and will exit their bitcoin etf positions. They will self custody.
It's one of those Friday evenings that make me want to watch the original Jurrasic Park movie again.
https://tenor.com/view/rexy-rexy-jurassic-park-jurassic-world-jurassic-park-gif-22434109
one of the best movies ever
Here are some tips for Bitcoin Lightning Node operators:
1. Understand the Basics: Before setting up a Lightning node, ensure you have a good understanding of how the Lightning Network and Bitcoin work.
2. Choose the Right Software: There are various Lightning implementations to choose from, such as LND, c-lightning, and Eclair. Research and select the one that suits your needs.
3. Security is Key: Keep your node and private keys secure. Use strong and unique passwords.
4. Channel Management: Properly manage your payment channels. Ensure you have enough liquidity to route payments effectively.
Use tools like lndg.
5. Monitor Your Node: Regularly check the status of your node, channel balances, and network activity.
nostr:npub1xnf02f60r9v0e5kty33a404dm79zr7z2eepyrk5gsq3m7pwvsz2sazlpr5 is great for managing your node on the go.
Ride the lightning and lndg are my preferred desktop tools.
6. Backup Your Data: Regularly back up your channel data and wallet. This will protect your funds in case of any issues.
7. Stay Updated: Keep your node software up to date to benefit from the latest improvements and security patches.
8. Choose Peers Wisely: When opening channels, choose well-connected and reputable peers to ensure better routing capabilities.
Check out amboss.space and #nodestrich to find good routing peers.
9. Routing Fees: Set routing fees that are competitive but not excessive. Experiment to find the right fee structure for your node.
Don‘t be afraid to set fees to 0 to push out liquidity.
10. Learn About Channel Management: Understand concepts like channel rebalancing and fee management to optimize your node's performance.
11. Promote Privacy: Consider using a Tor connection for added privacy and security.
Even better: Use Tunnelsats for private clearnet connections.
12. Join the Community: Engage with the Lightning Network community to learn from others and stay informed about the latest developments.
Remember that running a Lightning node can be both rewarding and challenging, so continuous learning and vigilance are essential.
Feel free to add some tips😄
Here are some tips for Bitcoin Lightning Node operators:
1. Understand the Basics: Before setting up a Lightning node, ensure you have a good understanding of how the Lightning Network and Bitcoin work.
2. Choose the Right Software: There are various Lightning implementations to choose from, such as LND, c-lightning, and Eclair. Research and select the one that suits your needs.
3. Security is Key: Keep your node and private keys secure. Use strong and unique passwords.
4. Channel Management: Properly manage your payment channels. Ensure you have enough liquidity to route payments effectively.
Use tools like lndg.
5. Monitor Your Node: Regularly check the status of your node, channel balances, and network activity.
nostr:npub1xnf02f60r9v0e5kty33a404dm79zr7z2eepyrk5gsq3m7pwvsz2sazlpr5 is great for managing your node on the go.
Ride the lightning and lndg are my preferred desktop tools.
6. Backup Your Data: Regularly back up your channel data and wallet. This will protect your funds in case of any issues.
7. Stay Updated: Keep your node software up to date to benefit from the latest improvements and security patches.
8. Choose Peers Wisely: When opening channels, choose well-connected and reputable peers to ensure better routing capabilities.
Check out amboss.space and #nodestrich to find good routing peers.
9. Routing Fees: Set routing fees that are competitive but not excessive. Experiment to find the right fee structure for your node.
Don‘t be afraid to set fees to 0 to push out liquidity.
10. Learn About Channel Management: Understand concepts like channel rebalancing and fee management to optimize your node's performance.
11. Promote Privacy: Consider using a Tor connection for added privacy and security.
Even better: Use Tunnelsats for private clearnet connections.
12. Join the Community: Engage with the Lightning Network community to learn from others and stay informed about the latest developments.
Remember that running a Lightning node can be both rewarding and challenging, so continuous learning and vigilance are essential.
Primal geht doch einigermaßen oder nicht? Nutz den ab und zu.
If you consider hosting your own #lightningnode here is a simple hardware and Software suggestion for absolute beginners:
# Windows Setup
- thinclient with 8gb ram and intel 6500t
>around 130€
- crucial 1tb ssd sata
>around 60€
Install Windows (get your code from ebay 5€ or so)
Install Oracle VM.
Create a VM with 850Gb. (so 150Gb for Windows)
Download Ubuntu 22.04 Server image.
Start your VM and install ubuntu.
Super easy.
Install Umbrel. (check it out on their Homepage)
Install Bitcoin Core and LND.
Fund your Node.
Open channel to some good routing Nodes.
It is not complicated 🧡
i guess they use robosats😂
we are front running the next fiat high inflation phase
