This is a thread for random discussions that gets posted everyday at 5am central.
Tell us what you're doing today, ask questions, or vent about your life. Whatever you want, let it rip!
"waiting for you"
That's the message I see on my invoices page on a deposit payment to my SN wallet, sent via Lightning Address.
With the "spinner" graphic spinning. It's been several minutes this way.
reply
It eventually completed, took about 20 minutes.
Subsequent attempts did not have this issue.
reply
Could be any number of things but also could be a bug on SN’s side. The HTLC could’ve been stuck between a hop
reply
@k00b If my node, that I used to login on SN, will die soon, is there a way to migrate the same SN account to another LN-auth login or us/pwd ?
The rate that node channels are getting force closed is massive and soon I will be forced to shut down this node. Is useless to keep it alive in these condictions.
reply
Yes please, this would be great!
reply
at which rate are getting your channels closed?
reply
really fast, only today 5 In the last 5-6 days from 55 channels I have now only 30 This shit is going crazy.
reply
Wdym, are people closing channels to you on purpose? Or is this a software bug?
reply
No, is due to a lot of other issues on LN that happen right now, basically what I posted in this https://darthcoin.substack.com/p/recommendations-for-ln-users
reply
it seems to be a Software Bug in CLN
reply
How come you are the only one I am hearing this from???
reply
Maybe you are out of LN groups circles, you are alone? Many nodes are hit by this "force closing disease" lately.
reply
Nah, I'm talking daily with my local einundzwanzig meetup group. Nobody ever mentioned this - I just read it several times from you on SN.
This is indeed crazy. I only had 1 in my past from the counterparty
reply
You won’t be reusing your keys?
reply
If the node will have to shut it down, how I would use the lnurl-auth? Is there another way? I have another LN wallets to sign, Blixt SBW but not sure how I can do to keep same account on SN.
reply
If you use the same keys for your new node, lnurl-auth will still work.
reply
No man, I am talking to shut down the node for good. A routing node nowadays is getting crazy to maintain with all these force closures happening right now.
So my plan is to close it for good and use only Blixt, SBW, Breeze, Electrum as mobile/desktop LN nodes, with private channels. No more public node.
Yes I can use same keys from defunct node in Blixt, but I do not want all the shit history to bring into a fresh wallet app.
reply
Okay, I'll look more into "linking accounts" or changing auth methods. It might take me a couple weeks.
reply
I am not the only one in this situation. I am just a "noise" voice here for them.
reply
Why not keep the node a little longer. Its possible the channels that remain are in for the long run and gives you a solid foundation to build the node up again
Agreed, many people have asked.
I think the Amboss AMA includes one of the coolest data-points in economics.
2% APY. The decentralized risk-free-rate.
It's the closest thing I can think of, to a risk free rate without some embedded default risk. I think it might the first of its kind.
And, also, it's neat. :)
reply
I mean "2+% is pretty good" does not mean everyone can just earn 2%. That is not at all a risk free rate - that is the "pretty good" rate.
In reality most people should be glad if they can even break even with onchain channel opening cost and initial investment (your Raspberry Pi will have to be replaced every few years if the hardware isn't supported anymore for security updates).
reply
not mean everyone can just earn 2%
I suppose there is an implicit expectation that a RFR is the same rate that anybody can get. I guess I was excluding that. You're right -- for now. Follow up, rhetorical, question: If the network gets larger, and a node can use their capital to create 2% yield opportunities, could they securitize that product, then sell it at a different discount rate (after they have committed their own capital?). Eg. I have 1.94 BTC, I sell a channel at a 2% APY, could I borrow against that, at a rate better than 2%, say 1%, and instantly pocket the difference while getting capital to sell another channel at 2%? If so, that 1% will be a RFR that everybody could access. Admittedly, probably not, because we're back to counter-party-risk territory.
most people should be glad if they can break even
If you bin this by amount of capital, does it change? Like, "Most people with under 0.1 BTC should be glad if they can break even. If you have over 3 BTC, it gets more realistic to expect something closer to the RFR"
I'm making up the 0.1 and 3 numbers, but is there a statement like that, that holds?
reply
If i understand correctly what the 2% is referring to is the channels on Amboss.space marketplace where you get the money up front, the APY doesent come from the fees and the payments you route through a channel over time afaik because the channel fee is set to 0. so its a different model than the traditional one.
here is the quote
I'm watching the effect of Zero Fee Routing's management strategy really take off and inspire others to do the same. With zero routing fees, we're seeing more people choose to frontload their routing earnings through channel sales on Magma, which is something that we can verify. 2+% APY is pretty good and that's before any income that they'd make from actually routing!
reply
I read the comment you mentioned. But I'm not entirely sure what he meant. Could you explain more?
reply
In the fiat world there is the so called "risk-free rate". It is supposed to be what the system rewards you for no consumerism and no investment. Hardline-fiat-shills would say that this rate is intrinsic to ownership. They regard government bonds as this risk free rate because there is nothing with lower risk than the monetary system itself - no stock, no company bond, no nothing. Of course this is and always was below the inflation rate (in the best years maybe equal to inflation, maybe).
The question is if in the Bitcoin has a risk-free rate too. There must be a value to no consumerism and providing liquidity. There must be an intrinsic value to this because you are doing something for the community - the question just is where this is.
And the answer is probably what can be earned with low effort in the Lightning Network. They estimate from their data that it is about 2% or maybe lower.
reply
Is this a great extended discount buying opportunity or what?
reply
not really. the market has only just begun feeling the pain. i suspect it will go lower still. but lets see.
reply
What would make it go lower?
reply
Home miners will stop being profitable when/if energy increase significantly in the summer.
More miners online every day.
Some (not all) will have to sell.
If increased selling is not met with increased demanding, then you know the story.
reply
russia and china continuing to be idiotic for starters…global macro picture continuing to look pretty bleak atm.
reply
how are they idiotic, if they are not the ones who are going to feel the pain, this is class A geopolitics, the west should have thought before entering an unwinnable war. Now...consequences.
reply
Unnecessarily starting a war, cutting themselves off from the rest of the world to denazify their Ukrainian neighbors at the expense of thousands of lives unnecessarily seems pretty idiotic to me.
reply
Anxiety mostly i guess
reply