Without an ASIC, you will just be "DCAing with more steps" and absolutely mining at a loss. If you have spare CPU/GPU power, may as well contribute it to scientific research with #BOINC or Folding at home. I've been doing it for years and it heats my living space in winter.
Because all the available solutions are either controversial, don't actually work well, or both, mostly both.
Pretty typical for presidents in lame duck period make a flurry of wild executive orders. They aren't worried about political blowback since they're not up for election and don't need to worry about keeping congress "on good terms" to pass legislation since time has run out to utilize congress for anything, the orders are usually reversed when the incoming admin arrives, and they score some political points for their party with voters who think they're doing "the right thing" even though they spent the last 3.8 years not doing the thing they are now suddenly doing.
Thanks Derek! I'm thinking about installing BTCPay server via docker on a VPS or local PC, unless there's some kind of "meta-package" that can better help automate installation of BTCPay server, lightning components, potentially other tools? Is this what Alby Desktop or umbrel does? My lack of knowledge in is in how, if all, these things should be connected to each other.
I have a #Wordpress #Woocommerce site and I want to accept payments in lightning. This is in a shared hosting environment, but I could spin up a VPS if absolutely necessary. What do I need for this? BTCPayserver? Alby hub/desktop? Do they offer the same thing or do I need both? #asknostr #bitcoin #lightning
Cashu, fedimint, etc isn't mean to replace non-custodial BTC or lightning, it's meant to replace custodial BTC. To the extent custodial BTC is needed, these solutions are better in almost every way than traditional "all trust to a single party, no transparency" models.
Yes. And they also expect you to pay income tax on the USD value of the BTC you received.
As others have said, you can just create an offline/cold wallet either using software (like Electrum) or a signing device of some kind. But it's worth noting that 18 years from now, Bitcoin may look quite different. While a wallet from 15 years ago will still work, it is much more expensive to send transactions with it. It's possible that in 18 years, Bitcoin will have at least partially or maybe even fully moved to quantum-proof signing algorithms. If quantum computing becomes a reliable attack vector in that time period, old wallets may be useless.
Seed phrases are great, but will the software used to generate that seed phrase still exist in 18 years and be easy to install on the latest operating system? At least with a simple private key, it can be universally imported to any Bitcoin wallet, whereas a seed phrase requires knowing the derivation path and having software to support it.
So my answer is:
1. Make an offline/cold wallet using any wallet software, electrum is well known and supported
2. Receive all the funds you wish to transfer into a single UTXO
3. Export the private key for that UTXO.
4. Put the seed phrase AND private key onto metal or archival quality paper
Another consideration on that timescale is natural disasters. What if the house they store this thing in burns down or is burglarized? Using a multi-sig wallet can help with this, but will make things more complicated.
If somebody wants to claim a tip, do they need to setup a wallet with inbound liquidity?
I was thinking of just making a temporary zeus wallet and then putting the seed phrase for that wallet on the tip card I leave. But, of course, doing this manually for every time would be rather time consuming.
Thanks for the link! Looks cool but is custodial, would ideally like a non-custodial solution
Yes! Just go to on-chain, recieve, get your address, then go to lightning -> send and put in that address. Zeus will open/close channels to make sure it all works out. You can also use a service like boltz.
If you're fine w custodial, just use strike. It's fantastic and easy to use.
Looking for some reasonable ways to "gift" small amounts of Bitcoin to people, for example, by tipping delivery drivers. I could make a paper/cold wallet and give the the key/phrase, but this doesn't work well for amounts < $5 due to tx fees they'd incur just trying to use it. I'd like to give them funds on lightning, but the instructions for claiming those funds must be able to fit on say half a sheet of paper. This must be non-custodial. Ideas? #asknostr #bitcoin #lightning
Exact same problem, I have created a GitHub issue about that : https://github.com/hzrd149/nostrudel/issues/273
Deleting all my browser data and starting fresh made it work. Idk why but that fixed it.
If you got into #bitcoin using #coinbase, now is the time to switch. Here's an abridged list of reasons.
If somebody has muted you, leave them alone.
Each client is different, #nostrudel has this ability in the "discover" section. You may also be interested in this reddit clone which uses zaps and nostr. It's a centralized service, so not fully decentralized like nostr is, but still a very cool concept https://stacker.news/invites/cm53pjdua000whbkgwyrggv82
