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200 sats \ 22 replies \ @siggy47 7 Jan \ on: Stacker Saloon
@DarthCoin, I know you are congratulating yourself for your prediction, but I also know you won't give intentionally bad advice. Is there any way stackers running their own nodes can help out regarding the CoinOS situation by opening channels? Can you recommend fees, size of channel, etc?
Open channels to SN and CoinOS and keep them balanced to earn 2-3% of each zap since that's our outbound fee we're willing to pay.
Can you recommend fees, size of channel, etc?
I would open channels with at least 1m sats and I would start with fees rather high than low since else your channel might get unbalanced pretty fast. Maybe inbound fees can help with unbalanced channels though 🤔
Do you know what will happen next from all this madness?
People will still not start running proper LN nodes and they will still use custodial accounts like CoinOS, Blink, Lifepay, WoS or whatever other like that.
Because are too lazy and they do not want to take their own risks and be responsible for their own shit. This is the truth, responsibility is hard.
And all those that do not want to learn how to properly run a damn LN node (be it public routing or private) are still living in the past (fiat mindset) where a bank (in this case CoinOS or whatever) is taking care of their shit.
For the last almost 5 years I was beating my own ass and throwing around a lot of sats, just for the sake of learning how this damn LN works, testing and using all kind of solutions.
And what all those lazy users were doing all this time? Playing with shitcoins and laughing at me? Gambling their sats on shit bets? Listening bullshit crap from Saylor and Trump?
NOW is my turn to laugh.... I wrote so many guides about running nodes that I get tired. And I get only shit throw on me, because I am a damn "toxic maxi"... and crap like that.
If they want solutions... they just have to read my damn guides. ALL OF THEM. Are right there and they have to do a damn job, a real proof of work, because yes, even a damn privater node needs some knowledge. And I put all my knowledge in all those damn guides. for fucking free even.
Those that do not even want to read them... HFSP, your bitcoin life will be much harder than you can imagine.
No man... now I will just laugh
And don't take me wrong on this. I am glad that SN pushed the losers into this madness. Some of them maybe they will wake up and put their ass at work and learn about running proper LN nodes. Some don't.
But moving to another custodial accounts like CoinOS, Blink etc IT IS NOT THE SOLUTION! This was my warning all the time but people still don't get it.
It will create even more problems and will make a shit out of those nice custodials like coinos and blink. Because this is what stupid people do better: shit on good solutions.
This is why I am pissed of... SN passed the dead cat into others gardens, but like to say it loud that now SN is using "p2p non-custodial" wallets, when in fact it is not, people are still using damn custodial accounts.
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That's pretty depressing. Don't you think something like this SN experiment might help? For example, people using CoinOS are having trouble getting and receiving zaps. Just running a small node with a private channel open to SN would solve the problem, right? And they won't be paying fees either, right?
People might do it for selfish reasons.
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More people using Coinos and other custodials = more trouble. They will fuck up those nice services, dedicated for specific use cases (onboarding merchants for payments) not for using with SN. Now CoinOS will have another task to take care of their shit, managing a liquidity that they didn't expect it and that will have implications in everything: fees, failed payments, more relays etc. Also once they will have too many users, will be a target too...
As I said in this guide Private banks over LN, years ago, encouraging node runners with good experience to start offering these kind of services to their local communities, friends etc, where with a small group you can handle all the liquidity in a different way then for thousands and thousands unknown users.
Example is https://lnvoltz.com, is a small private bank in Brazil, offering these kind of accounts to small group of people.
The whole idea is to have as many small LN banks we can, spread all over the world. THAT is some kind of decentralization, not gathering all inside CoinOS and Blink.
But nooo, people prefer to fuck each others instead of helping each others. And also running a LN bank REQUIRE knowledge and good infrastructure, not just a shity PC with an Alby Hub using (again) CoinOS liquidity...
You understand what I mean?
Just running a small node with a private channel open to SN would solve the problem, right?
Yes
And they won't be paying fees either, right?
between SN and them will not be fees. But will be fees when they want to move those funds to other wallets. That is ROUTING and routing means fees.
And I don't understand this latest urge to open channels with CoinOS?
There are several many other LSPs out there much better for this use case than CoinOS node.
people using CoinOS are having trouble getting and receiving zaps
ofc they will have troubles. They do not think that for CoinOS this is an extra effort to take care... is not the same having a natural increase in number of users slowly and organized in some way, than just suddenly a thousand of new users, zaping each others back and forth (sometimes for nothing) and keeping the infrastructure at normal levels (relays, connections, servers, liquidity etc).
Soon CoinOS will increase the fees and will start putting more restrictions and in this way will fuck up something that was nice. And for what? For some damn zaps on SN from assmilkers?
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What "coinos situation" ?
Is quite simple. Those who run their own node, just open a private channel with SN node. But for the sake of Bitcoin, do not open shity 50k channels,
Next open 1-2 more channels with some public LSPs in case you need to move those sats around.
That's all.
Running a simple private node is so simple and you don't have to worry about any routing.
Look, I made my own tests, even this simple temporary node with Rizful is working just fine: #816432
With this full guide about managing LN liquidity I also covered a lot of options, for public and private nodes. Spin up a private node takes few minutes, you don't even have to have a full BTC node.
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Yes. I'm doing that. Thanks.
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Thanks for sharing. I haven't seen the water flow analogy yet.
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Is sitting in my bio listed for long time :)
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Just noticing, @DarthCoin, you don’t seem to be showing the obligatory horse and revolver icons. Most of the OG SN stackers seem to display them proudly. What’s up?
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the horse and pistol is only for those with attached wallet. I can't say more about, is a secret.
I am using ONLY CCs. So will never have that horse and pistol. I don't care. Is just a game. Horses and pistols are toys for kids to keep them busy.... and give them an impression of "earning something"...
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OK, I was wondering about that. I have yet to have gained the understanding of the LN nodes and etc. to set anything up. I am an idiot, especially when accuracy in setups is concerned. I always make some sort of mistake or another, but figure it out after hours of working on it. For instance, when I initially set up virtual boxes, I never seem to get the USB linking set up to work, I have to go back and fiddle with the setups to operate the flash drives. I really hate that part of doing things.