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0 sats \ 0 replies \ @BTC_LN 27 May 2024 \ on: Is It Better to Open Few Large or Many Small Channels on Bitcoin Lightning? lightning
A bit of an odd way to summarize the post, but thanks for posting!
That's a really good point. I should not only mention it here, but also write another blog post about the difference between public and private.
So let me get this straight:
- 1 satoshi is written as 1 ₿, pronounced as "1 satoshi".
- Current 1 BTC would be: 100M ₿, pronounced as "hundred million satoshis".
- We don't refer to bitcoins the money as "bitcoins" anymore, only Bitcoin the network. Less confusion long term.
- No decimals, no 2 types (btc, sat) of denominations, just ₿, pronounced as "satoshis".
- ₿ does look like the "b" from bitcoin, but it's not a problem that it's actually pronounced "satoshi" because $ has nothing to do with the "dollar" either.
I think this is a reasonable idea, but we're so used to SAT and to the kebab to a smaller degree that many us will resist the change. Also, a handful of people will misunderstand this to be "printing" more bitcoin.
If we adopt this, we need a specific date when most sites switches over, ex. Jan 3, 2025.
Temporarily we could do this to be super clear: 1,000 ₿ (SAT). Then after a year drop (SAT).
Let's hope that's not your actual seed! 😅
In basic terms:
The seed words are like a trunk of a tree. You must keep them confidential and never reveal to anyone.
The public addresses are like leafs on that tree generated from the seed. You can share these addresses so people can send you money.
In a bit more advanced terms:
The seed on its own is not sufficient to generate your wallet, you also need a passphrase if you set one and you also need a derivation path.
The derivation path is like main branches of the tree. You decide which version you gonna use. You own all the leafs on all the branches, but you typically only use one branch.
The leafs can be imagined as having two sides. Each public address you generate has a corresponding private address technically, but this complication is hidden in most wallets. All you see if the seed (to be kept secret) and the public addressed (to be shared).
Great writeup! You helped me resolve two channels closures that were pending for a long time.
What if I have force closed channels that are still showing as pending in Thunderhub, even though they are confirmed and many weeks or even months old? How can I force LND to recognize them as closed channels? I did try to restart LND. Do you have any recommendation?
Yes, ideally all these layers work together and it won't matter what you're using as long as it's bitcoin satoshis. The wallet can even choose automatically the most appropriate method of payment based on a universal QR code that presents all the available options and hints for submarine swap services.
I hear you, but what about this:
#356487
An important thing to know regarding Liquid is that the block size CAN BE increased to any practical size, without the need for the bitcoin community risking the base layer.
Since there is no fee pressure, the fees will likely not increase with more usage.
The blocks could be 400MB each in a few years, and since the block time is 1 minute, it could process 1,000 times more transactions compared to the base layer bitcoin. That's appr. 400M transactions per day.
And this block size increase won't affect the base chain negatively. The base layer decentralization will not suffer.
So, while Liquid has some added risks due to the federation needing to approve when you move from L-BTC to BTC, it still could be part of the solution for small and frequent amounts.
Women have the same organs as men except for one organ. (Gonads) funny word.
Men specific: Testes, prostate gland, seminal vesicles, penis
Women specific: Ovaries, fallopian tubes, uterus, cervix, vagina, breasts
It's also not just organs, there is significant hormonal difference, which is important when it comes to diet.
Men: Higher levels of testosterone
Women: Higher levels of estrogen and progesterone
Thank you! So in your view based on your research humans are not omnivores but carnivores?
So we evolved from monkey like creatures that almost only ate fruit. More recently from ape like creatures that only ate plants and bugs. And, then a few million years ago we started becoming carnivores, I assume because of the pressures of the Ice Age which forced us to consume animals (hunting is a dangerous and difficult task). And the reason we don't have carnivore teeth is because we didn't hunt animals down with our jaws but with our spears, and then cut them up with our premordial axes, and cook them on fire. I guess it's plausible.
Speed Wallet: https://www.speed.app
Blink (former Bitcoin Beach): https://blink.sv/
You can join our Pool to get incoming channels: https://lightningnetwork.plus/pool
Yes, if you're running a routing node for profit, invest in good hardware. Think about a RAID setup for your disk, and UPS for power, potentially a backup internet connection too.
If you're running a hobby node, make sure you have channel backups regularly in case your node dies, so you can recover the funds (not the channels).
I have a question at the end of my monologue.
It's important to note that different people have different optimal diets. There are some general truths, but also many differences between individuals. Certainly, there is no one-size-fits-all diet.
Our ancestors had to survive in various climates and environments. Over tens of thousands of years, we developed adaptations to those conditions.
For example, some people of European descent had to survive through brutal winters and thus developed the ability to digest milk into adulthood. This is not the case for people of Asian descent, where milk was not a routine part of the diet.
Modern people are a mix of all kinds of past peoples with diverse genetic heritages, making it hard to tell if one's body would benefit more from a primarily carnivorous or herbivorous diet. One has to consider both extremes and find their personal optimum. Paying attention to your cultural heritage is important, as cultural habits often encode beneficial behaviors for a typically genetically homogenous group through customs and cooking methods.
Some people have unique genetic conditions which require them to eat or avoid certain foods. It's crucial to establish if you have any such conditions. It's also important not to blindly copy the behavior of a person with such a condition, as their experience could have the opposite effect on you.
Additionally, it's vital to establish your goals before trying to copy someone's dietary habits. For instance, carnivore diets may provide lots of testosterone and growth hormone, resulting in increased life force, muscle definition, and other health benefits, but a herbivore diet has been proven to slow down metabolism, which may offer a clear mind (debatable), longevity, and a light frame beneficial for certain lifestyles.
Finally, factors like sex, age, and life stage are important. Women literally have different organs from men, and, for example, cancer risk factors differ because of this. High testosterone benefits men more in terms of reducing cancer risks, outweighing any negative effects. At an early age, when you study and exercise hard, you can afford and benefit from sugars, especially when combined with protein; later in life, sugars come with risks. Etc.
Most people will find their optimum for their stage of life somewhere between these two extremes, and a few individuals will find one extreme to be optimal. Thus, I feel it's not a good idea to judge or recommend a specific diet as the 'best' based on a few individuals or even a small group.
So, my question is, in your deep research, did you encounter ideas like I expressed above, or was it all 'carnivore is the only way' type of content?
The biggest risk is paper bitcoin: ETF issuer sells 1,000,000 bitcoin to the investor, but they only hold 200,000. They will tell the public they only have 200,000 investments, so they can have a signed proof of reserve, and we will never know they actually collected money for 800,000 more. This way, indirectly they inserted 800,000 BTC into the supply. I know government agencies should catch such a trick, but apparently the same is true with gold. There is a lot more paper gold than physical gold. Through custodians and complex accounting the paper bitcoin can be created.