TheBTCManual

bitcoin

GM stackers!!

(español abajo)

I am new to Stacker, but I am an old gangster who has been in Bitcoin since 2011, and have experienced all the ups and downs of Bitcoin.

Since around 2018, I have been running a Lightning node that has become quite popular, with up to 8 BTC of liquidity and around 300 channels. At first it was on LND, but then I switched to CLIGHTNING due to all the bugs that LND had and which caused me to lose some money. Not only that, my node is running entirely on a mobile 4G connection, as I am always moving and don't want my node in a data center because I'm paranoid about controlling my machines, especially with Bitcoin, the great treasure.

Since then, the number of channels in my node has decreased from 300 to 150 to 100, then 50, and so on, as well as the liquidity, down to 2 BTC. The reason for this is mainly something I didn't suspect before starting this adventure, and it is that maintaining a Lightning node requires a lot of work. For this reason, three years ago, I gave up working on the node, installed CLBOSS (an automatic node maintenance software), and to be honest, it has worked quite well and done a better job than me.

However, even with CLBOSS, I have suffered many problems that have also caused me to lose money. The worst of these problems was that the SSD where my node resided got damaged, causing corruption in the CLIGHTNING database and forcing the closure of half of my channels, losing a significant amount in miner fees.

Despite all this, I tried to update CLIGHTNING and another new bug prevented me from doing so, and that was the last straw. So much effort, for what? With all the routing, I barely earned 400ksats, which doesn't even cover maintenance costs, let alone my time. So I made a list of reasons why a normal person, or "plebeian," might not be interested in maintaining a Bitcoin node, and there are many:

- Too much work and time spent maintaining the node.
- Meager earnings.
- High technical knowledge requirements if you really want to have more than 5 or 10 channels and resolve technical issues that will undoubtedly arise in the years to come.
- Limited mobile options (forces you to set up a reverse proxy with a VPS in some datacenter if you want to use clearnet).
- Excessive risk, money is at stake and hardware can fail, or a bug in the software could arise.
- Limited automation options (the only one that works well is CLBOSS and it's only available for CLIGHTNING).
- Periodic headaches.

For all these reasons, I have decided that maintaining a Lightning node, despite having had it for years, is not worth it, no matter how much enthusiasm I have or how much I like Bitcoin and Lightning. I join the long list of plebeyans who shut down their node.

From now on, I will only use the options available for normal users. In particular, Electrum for desktop and Phoenix, Breez, Zeus for mobile, because they are more than sufficient for me. I live off Bitcoin and need immediate liquidity to use P2P exchanges like Robosats or coupon sites like Bitrefill, or simply pay with Lightning to small businesses and friends. And for that, I don't need a node. That is the reality.

I think Lightning nodes are for entities that handle large daily liquidity and justify investing resources in technical knowledge and time on them, such as stores, social networks, wallets, exchanges, etc. For everyone else, it's better to use the countless options that Lightning offers for desktop and mobile.

Thank you for reading. I welcome comments.


-------
Spanish:

Soy nuevo en **stacker** pero soy un viejo ganster que está en Bitcoin desde el 2011, y he vivido todos los vaivenes de Bitcoin.

Desde el 2018 aproximadamente mantengo un nodo de Lightning que ha llegado a ser bastante popular, con hasta 8 BTC de liquidez y cerca de 300 canales. Primero lo tenía en LND, pero luego lo pase a CLIGHTNING debido a los muchos bugs que LND tenía y que me hicieron perder algo de dinero. No solo eso, mi nodo está corriendo enteramente con una conexión móvil 4G, pues me desplazo habitualmente y no quiero tener mi nodo en un datacenter, ya que soy paranoico acerca del control de mis máquinas, y más cuando se trata de Bitcoin, el gran tesoro.

Desde entonces, el número de canales en mi nodo se ha ido reduciendo desde 300 hasta 150 canales, y luego 100, y luego 50, así como la liquidez, hasta 2 BTC. El motivo de esto se debe básicamente a algo que no sospeché antes de iniciarme en esta aventura, y es que mantener un nodo de Lightning requiere mucho trabajo. Por este motivo hace 3 años desistí de seguir trabajando para el nodo, e instalé CLBOSS, un software de mantenimiento automático de nodos, y la verdad, ha funcionado bastante bien y ha hecho mejor trabajo que yo.

Sin embargo, incluso con CLBOSS, he sufrido muchos problemas, que me han hecho también perder dinero. El peor de estos problemas es que se me estropeó el SSD donde residía el nodo, causando corrupción en la base de datos de CLIGHTNING, y forzando el cierre de la mitad de mis canales, perdiendo bastante dinero en comisiones de minero.

Con todo y con eso, ayer mismo intenté actualizar CLIGTNING y otro nuevo bug me impide hacerlo, y ya ha sido la gota que ha colmado el vaso. Tanto esfuerzo, ¿para qué? Apenas he ganado 400ksats con todo el enrutamiento, que casi no cubre los gastos de mantenimiento, ni mucho menos mi tiempo. Así que he hecho una lista de motivos por los cuales a una persona normal, o un "plebleyo", no le interesa mantener un nodo de Bitcoin, y son muchos:

- Demasiado trabajo y tiempo gastado en mantener el nodo.
- Escasas ganancias.
- Elevados conocimientos técnicos si realmente quieres tener más de 5 o 10 canales y resolver problemas técnicos que sin ninguna duda surgirán con los años.
- Limitadas opciones móviles (te fuerza a hacer un proxy reverso con una VPS en algún datacenter si quieres usar clearnet).
- Excesivo riesgo, hay en juego dinero y el hardware puede fallar, o un bug en el software puede surgir.
- Escasas opciones de automatización (la única que funciona bien es CLBOSS y solo está disponible para CLIGHTNING).
- Dolores de cabeza periódicos.

Por todo esto, he decidido que mantener un nodo Lightning, a pesar de que llevo años con él, no merece la pena, por mucho entusiasmo que tenga y por mucho que me guste Bitcoin y Lightning. Me uno así a la larga lista de plebeyos que apagan su nodo.

A partir de ahora simplemente usaré las opciones que hay para usuarios normales. En particular, Electrum para escritorio y Phoenix, Breez, Zeus para móviles, porque para mi uso son más que suficientes. Yo vivo de Bitcoin y necesito liquidez inmediata para usar exchanges p2p como Robosats, o sitios de cupones como Bitrefill, o simplemente pagar con Lightning a pequeños comercios y amigos. Y para eso, NO necesito un nodo. Esa es la realidad.

Creo que los nodos LN son para entidades que manejen mucha liquidez diaria y les merezca la pena poner los recursos técnicos y de conocimiento sobre ellos, como por ejemplo tiendas, redes sociales, wallets, exchanges, etc. Para todos los demás, es mejor usar las innumerables opciones que Lightning nos ofrece para móviles y escritorio.

Gracias por leerme. Atiendo a comentarios.

I'm closing my old 300 channels Lightning node, here are the reasons

javier

deleted by author

nostr


![image](https://imgprxy.stacker.news/Z1peBfhFGwtJfY2WlLdJ6CmE0rh1Y-yl5x9snxDUij8/rs:fit:600:500:0/g:no/aHR0cHM6Ly9pbWFnZS5ub3N0ci5idWlsZC9kMDQ0MTkyYWRjOTEzMWU2NWFiODVmYmUyNjQ0ZmI1MWM1OGYyMDdkMjkyM2U0YWZiMzQyMmQ0MTFhMDQ1NzA2LnBuZw)

I've written two other posts in regard to the ICANN problem, the first was suggesting [Nostr as the solution](https://stacker.news/items/125707), and the second suggested having [Bitcoin as the solution](https://habla.news/freakoverse/0XiCk7s7P75ssI2fg73Ue). Both of these ideation attempts to provide a solution to the ICANN problem had their own criticism, discussions, and suggestions of already existing solutions, and I'd like to dive into those suggestions and end it with what seems to be the most optimal solution.

## Namecoin, BitDNS, DriveChains, SpaceChains
It seemed like, at the time, BitDNS was the solution everyone had in regard to solving the centralization problem of domain names, and Satoshi Nakamoto was involved in its discussion as well. Sometime after, a new network with its own blockchain and token called Namecoin emerged to be the very application that was discussed.

### The Problem with Namecoin
1. It's a different blockchain that isn't Bitcoin, which by itself would not make it reliable and untrustworthy as others would be able to mess with it, whereas, in comparison, it doesn't have the proper security that Bitcoin has built up and continues to get stronger.
2. Dealing with secondary storage of a different blockchain.
3. Drivechains and Spacechains, aside from having the same issues of the two points above, while interesting, aren't reliable in a consistent manner and may indirectly affect Bitcoin in a negative manner when it comes to the behavior of miners, from what I understood.

## Unstoppable Domains
This one got a lot of hype and marketing behind it, as well as some browser support as well. It's also utilizing other EVM chains like Polygon. It seems like there's a set price for whatever name you'd want to register/record, and that's outside of the transaction fee that you'd have to pay to obtain a name.

### The Problem with Unstoppable Domains
1. This solution is running on the Ethereum blockchain, one that is not decentralized, at least not anywhere near the level of Bitcoin.
2. Similar to Namecoin, you'll have to deal with a chain and its storage that's not even focused on domain names.
3. From personal usage from a while back, it was (may still be) very slow.
4. Considering what Ethereum has gone through, fees can get ridiculously high, which would affect updates to those domain names.
5. It's complex. Having to deal with multiple chains leads to confusion.

## Ordinals: Inscriptions
This is the first attempt, while not being the main reason for its creation, at releasing a solution to the ICANN problem directly in Bitcoin. It's not a separate blockchain. This basically inscribes data, a name in our case, onto a single Sat (or multiple Sats depending on how you go about it), recording that data forever in Bitcoin, and having an address in that inscribed sat.

### The Problem with Ordinals: Inscriptions
1. There's a size limitation, and it is costly to update data and its records.
2. Transforms Sats from money to assets in an ideological sense, and gives money ID, resulting in a potential danger of having Sats being fungible.
3. Stores undesirable and/or problematic data that Bitcoin miners and node operators don't want to hold, and such data cannot be removed.

## Nomen
This solution is the second attempt that tries to solve the centralization of domain names, where the name registration is recorded in Bitcoin directly, however, another piece of technology is used to handle ownership and data management, Nostr.

What's interesting about Nomen is that you don't have to create a new Bitcoin transaction every time you want to update the data under the registered name, aside from changing the ownership, as everything is handled on Nostr's side. What's happening on Bitcoin is just registering the name and who the owner is (a Nostr key pair).

I gave it a shot and it's simple enough (not in a UX sense yet of course). I used Bluewallet, where I created a PSBT with a bit higher fee than usual to account for the extra data, added my desired name and my Nostr address as the owner, using the tool provided in [Nomen Explorer](https://nomenexplorer.com/), broadcasted the modified PSBT, updated my record at the same tool site, and that was it.

### The Problem with Nomen
1. It doesn't rely on Bitcoin only, however, it seems like, having Nostr involved in this solution, is a necessary action to move past the issues of what Ordinals: Inscriptions has.

## Conclusion
Unless another solution pops up that is similar to Nomen but only relies on Bitcoin, then my vote seems to be going toward having Nomen as the solution here, especially when various apps are created that provide both a Bitcoin wallet and Nostr accounts services and make a seamless UX experience.

### Keys to Nomen's Success
Assuming that Nomen is the way to go, here are my thoughts on how to have it succeed as it climbs to stand next to ICANN and hopefully overtake it in the future. These steps are in order of quick deployment and usage (I'd say point 2 and 3 are interchangeable):
1. The first immediate step would be to utilize it with Nostr as it replaces the system under (or completely replaces it with a new NIP) NIP-05, along with utilizing other methods to set up the necessary details via [setting up your website on Nostr](https://primal.net/e/note16xg8qf6tvjagry2rjy28af7egyvwwl5590kedzuw4zp2epcte25qjl425r) and connect everything together.
2. The second step would be to have Bitcoin and crypto wallets to integrate Nomen so that people can start sending each other BTC (normally or through LN) using those registered/recorded names. Human-readable Bitcoin addresses.
3. We then have a browser extension so that people can install it into their browsers, like any Chromium-based browser like Google Chrome
4. Considering that ICANN and Nomen domains shouldn't conflict with one other, the method of accessing a Nomen website should be easy, in regards to entering the domain name in the browser URL. Something along the lines of, as an example, "bd:freakoverse" (Bitcoin Domain : Domain Name). Entering that in the browser URL field will trigger the browser to see it as a Nomen domain, fetching the appropriate data and loading the in page.
5. Small and major browsers would start integrating Nomen natively into their browsers, allowing people to access these new domains/websites without having the need to install an extension.
6. For those who care about decentralized domains and freedom tech, you'd aim to create exclusive content on your Nomen website, and/or provide such content to others for their own websites, or support others in some way to achieve this. When such content is established, you'd set up a traditional website and provide context that the content people are looking for is accessible on a Nomen site and that they'd have to install a browser extension to reach it or use a browser that has Nomen natively. All the while, if you have a website already with people visiting it each month or so, start advertising your Nomen website on it with proper guidance for those who'd hit that CTA.

## Thanks For Reading
What are your thoughts on all of this? Do you think Ordinals: Inscriptions and/or Nomen will succeed as the system/protocol for solving the ICANN problem, or have we yet to reach a good solution to this problem?

The ICANN Problem, Solved with Bitcoin and Nostr via Nomen

freakoverse

Bitcredit Protocol is Free Software to create a money-substitute for Bitcoin, as defined by Ludwig von Mises: “A claim to money may be transferred over and over again in an indefinite number of indirect exchanges."
– Ludwig Von Mises: The Theory Of Money And Credit

The currency period of bitcredits, usually several months, ensures maximum privacy when they redeem automatically into outright bitcoins at maturity. 

By running Bitcoin Protocol, real economy businesses can start to use bitcoin credit money ("bitcredits") to raise working capital and pay salaries into their employees' non-custodial lightning wallets which is a promising way to accelerate bitcoin adoption.

Feel free to read up on Bitcredit Protocol project: www.bit.cr

Version Alpha 0.0.1 is now available on Github, and provides part 1: wholesale "e-bills". The two other parts, "wildcat" full nodes, and retail wallet will follow in due course. 

Bitcredit Protocol First: Introduction

telcobert

What we're so protective of is our wealth and we dislike anything that's a perceived threat to it, from shitcoiners to protocol change. The former is of no consequence and the latter most don't understand enough to sensibly opine on. Anyway, this just shows the incentive structures are working.

Holding bitcoin doesn't make me a good person. It doesn't make me a smart person. My observations of our virtue signaling group of parrots says most of my bitcoin friends will import all the same problems of today to the other side: the conspiratorial politics, unwillingness to revisit world views often, obsession with gender, and willingness to fight as many pyrrhic wars as there's time in a day. 

Here's the thing though, the culture is changing. Don't tell me you don't feel it. You've seen it. Ordinals was like an earthquake. It did something. Forced us to confront our maxi sins, our biases. It forked us. It was like a religious fundamentalist looking up, hearing their son whisper: *"Mom, I'm gay."*

*"Why are you whispering?"*

*"So dad won't hea—"*

*"I heard that, you faggot."*

No gay son wants to hear that from a father without any bitcoin.







We're all full of shit

mallardshead

I talked to 21 whole coiners for advice about accumulating 1 full BTC ... 

Here are 21 lessons i leared:

---

# 1. Self custody

Always. Send your BTC to cold storage. Don't hesitate because of high network fees when mempool activity is high. Rather pay 10% or more to secure your coins than risk loosing 100% of a cosiderable amount.

# 2. Back up well

Restore a wallet at least once. Make sure you know how to get back your coins in a worst case scenario. (Also make sure your heirs are able to do it when time comes.)

# 3. Never try to time the market

DCA. Set it and forget it. Monthly, weekly, by-weekly or daily doesn't matter. Choose what best suits you. Do this for the majority of your BTC allocation. You can not time the bottom. Period. (But you can have a little pile of FIAT to buy dips when they occur.)

# 4. You can not time the top either

Never sell the majority of your Stack. Take a little profit if things go parabolic to reward yourself but always keep your main stack intact. It can be hard to get it back. And it will only go up with time. HODL and understand what you own.

# 5. Keep emotions out

Greed and fear are the main factors for people to get wrecked. Slow steady purchases, even tiny ones, all go to building a stack.

# 6. Never use leverage

Just don't. No, not even if BTC is below 10k. Make sure every sat you own truely belongs to you.

# 7. Every sat counts

Even if it's small amounts, just keep dca-ing and stacking sats. Little pieces add up. 0.001 BTC = $25 at the time of this writing. Do this 100 times and you have a tenth of a BTC.
If you have very little FIAT, stack free sats. You can:

- use faucets (like [Heads or Tails Game](https://www.claimbitcoin.fr/))
- do tasks (like [microlancer.io](https://microlancer.io/))
- play games (like [Bitcoin Miner](https://blog.zebedee.io/bitcoin-miner-game/))
- shop with services like [lolli.com](https://www.lolli.com/) or [foldapp.com](https://foldapp.com/)
- listen to podcasts (with [fountain.fm](https://www.fountain.fm/))
- or be active and provide value in communities like [nostr](https://nostr.com/) or [stacker.news](https://stacker.news)

Remember: Faucets used to give hundreds of Bitcoin per day. Now it's 5-250 sats 10 years later. In 10 years it may be 1-5 sats.

# 8. Don't go all in

Keep FIAT to survive hard times without being forced to sell BTC. (for example 6 months of monthly spending)

# 9. Enjoy life while stacking

There is only one thing that is more precious than Bitcoin. **It is lifetime**. Stack sats, but also stack moments. Be present and enjoy life. Every day. No amount of BTC can ever buy back lifetime. Remind yourself of this often.

# 10. Don't forget yourself

Always have a little fun money to maintain hobbys, traveling and to treat yourself. Otherwise you might burn out quickly.

# 11. Involve your significant other

Make sure he/she knows the reason why you do what you do. Otherwise you risk burnig out him/her too.

# 12. Automate and relax

When you check you portfolio ten times a day or more think of automating things. Don't trade lifetime and serenity for small gains.

# 13. Don't do shitcoins

Most altcoins never reach their ATH again. BTC and BTC only.

# 14. Stay humble

Never get lured by offers that promise yield in exchange for holding your BTC. FTX was a recent example of how that can end.

# 15. You lost your keys in a boating accident

Never share how much Bitcoin you own. Better yet, don't share that you own any at all (exception: rule #11). The less is known about you having BTC, the less risk. Also consider buying non KYC. For example with [robosats](https://learn.robosats.com/). 

# 16. Don't rush. Be patient

It is a marathon, not a sprint. Time is on your side. You already own Bitcoin. **You won**. It isn't a race like with FIAT where you have to fight inflation. You preserve wealth.

# 17. Increase your FIAT earnings

Learn profitable skills to increase your buying power and generally grow as a person. Even if you loose all your wealth, nobody can take away your skills to accumulate it again.

# 18. Don't compare

Every stack of BTC is better than no stack of BTC. And even if you are a whale: there will always be a bigger fish somewhere in the sea ...

# 19. You don't need 1 full BTC

This was huge for me! The urge to have one full BTC is very FIAT minded thinking. Goals are cool but: 

**21 million BTC / 8 billion humans in the world =0,00262500 BTC**

And not even that is possible because of the 1,1 m BTC wallet of Satoshi Nakamoto and lost coins. You can find out the exact amount every individual on earth could possibly own at [satoshisperperson.com](https://satoshisperperson.com/).

Not everyone needs a whole coin. About 225.000 sats = your little block of Bitcoin. ... That's roughly $55 at the time of this writing. Got that? Congratulations! 99% of people are still on zero. Safe your share and then slowly add more every pay check.

# 20. Change perspective

You can change settings in your wallet to display value in sats rather than BTC. This liberates from the feeling of shortage and the urge to fill that full BTC. It opens up the feeling of gratitude and abundance.

# 21. Always learn

Keep educating yourself about Bitcoin. The rabbit hole is deep ...

---

### Thank you!

Thank you wonderfull people who helped me gather those tips. I chose conciously to not give personell credit in this post because of rule #15 =)

### Check out Nostr

Huge shout out to the [Nostr](https://nostr.com/) protocoll and all the devs involved. Without an anonymous network like this it would have been extremely hard if not impossible to gather that much information from real whole coiners in that short amount of time. If you haven't tried Nostr yet, consider giving it a try. It's an extremely positive community where value flows like Bitcoin in the early days.

### What have i missed?

Do you agree with these tips? Did i miss any? Please let me know and help refine this set of rules so we can breed more an more whole coiners over time ... or let's rather call it 'satoshi millionaires' (see rule #19 ;-)

*P.S. Feel free to tip me some sats or share this post if you find it helpful. Working on my own little stack too ;-)*
