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11 sats \ 2 replies \ @kr OP 8 Dec 2022 \ parent \ on: Elizabeth Stark on Bitcoinizing Fiat Currencies bitcoin
Fair point, I do see node operators as businesses that will eventually have to make a profit or close their operations.
The distinction I’d make between node operators making money and banks making money is that the business of operating a Lightning node is open to anyone.
In Canada, we have only 5 major banks and creating a 6th is nearly impossible. All 5 have the exact same service offerings, and no incentive to compete against one another. That leads to awful customer service and incredibly high fees.
I hope LN node operators do make money, but I also hope the barriers to entry remain low. This will lead to intense competition that incentivizes node operators to maintain high uptime, good liquidity, and reasonable fees.
the business of operating a Lightning node is open to anyone.
Indeed, this is all that matter.
Node operators deserve to earn sats for their effort, don't get me wrong.
I run several LN nodes, private and public, for testing or for own use, and I know how are the costs of running them.
What I do not like is the obsession of some operators, that are running them ONLY to have like a "passive income". That's a wrong thinking.
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I agree with you here too.
Trying to passively make money for doing nothing is a foolish way of thinking. I hope lots of people make money on Lightning, with the caveat that it is earned (not given) for doing valuable work.
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