stacking since: #19971
I prefer not to tell the motherfuckers. Real G's move in silence. Like lasagna.
Its a gimmick. When Bitcoin originally released, every wallet was also a full node and a miner. So this expensive toy tries to harken back to that simpler time. But there's a reason why wallets, nodes and miners use different software/hardware today.
Learning the tools of the ecosystem can be daunting, but putting them all into one package with a sleek UI and phat price tag isn't the way.
For this price you can buy a used S9 and a build a beefy full node server. And you will emerge with more knowledge and useful skills even if it takes you much longer to get up and running.
Information wants to be free. If you're in the business of selling bits, then you're in the business of enslaving ideas and limiting the free flow of information. Only the violence of nation states can enforce a monopoly over the trade of information and grant the exclusive "rights" to profit from its distribution. So to play this game, you need lawyers and trade deals with other idea traffickers. If you try to sell information without the state's approval, they'll lock you up. Better to be a pirate and liberate the ideas from their paywalls for no profit of your own.
Or start a new market and solicit information direct from the originators (artists, writers, etc.) Include in your ToS whatever you like. But be prepared to enforce your monopoly using the long arm of states whenever a pirate wants to help "your" ideas be free.
Lets say I don't want to exit....
Could require (or highly recommend) a 1-time course/quiz before they withdraw for the first time. Some kind of flow that teaches them about the drawbacks of third-party custody and how to self custody simply and safely.
it might be ineffective but it's a touchpoint. Maybe the 5th or 10th time they hear about self custody, they'll start to listen.
At the extreme, you could only allow withdraws to xpubs. Instead of entering an address, you require an xpub and generate unique address for each withdraw. I don't know any custodian that gives you an xpub so you can almost guarantee they withdraw to keys they control. Not the best UX tho...
How would you tell your users to take self-custody?
Just explain why you are halting custody service. "We don't want to be responsible for your funds, we don't want to be targets for regulation, we don't want to know anything about our customers, we believe in the mission of BTC to be peer-to-peer cash with no middlemen and we don't want to be your middleman, etc."
This should communicate the drawbacks of using third-party custody. Whether, they decide to send to their own keys or another bank is out of your control and you shouldn't care what they do with it. Absolving yourself of a custodial liability is enough. Communicate that holding their funds is actually a liability for you and maybe they'll second guess who they want to be liable for their funds going forward.
In 2013, a China-based computer hardware manufacturer called Canaan Creative released the first set of application-specific integrated circuits (ASICs) for bitcoin mining.
They don't control the coin, but they can point the gun at those who control keys. Surveillance is how they learn where to point the gun. Can't have freedom without privacy.
Surrender unto Caeser that which is Caeser's. Bitcoin is not a product of states, it was created to spite them.
Starve the beast. Be a martyr for freedom. Live a life such that when you die, they will say, "he fought". Make them say they control you. Make them say it out loud.
Remind the tyrants that their blood is most refreshing to the Tree of Liberty.
So do (bookkeeping/reporting) work or be labeled a criminal... sounds like slavery.
They want you to potentially self-incriminate... sounds like a 5th amendment violation (USA).
Reject. Being "rich" means more than having a fat stack. Its the freedom that stack affords you. If you must surrender freedom for riches, you will have neither.
This revolution is about separation of money and state. If the state controls BTC, I'd sooner burn it all and start fresh using something they can't control.
Lightning is just a protocol for batching txns over time. Custodians certainly make the most txns.
Still, there are lots of great and active groupchats on TG, Discord, Slack, RocketChat, nostr, and Matrix. They're just more fragmented and focused.
Have a look at all the tech you use for LN (nodes, web GUIs, tooling, etc.) Most of those tools will advertise chat servers where the devs hang out and answer questions. Join them and be active and you may get invited to some more private groups where the real alpha gets leaked.
Ask your questions right here on SN, lol
As for pleb nodes, DarthCoin has recently been popularizing the idea that plebs should not run routing nodes. Which I agree with.
Rather, plebs should run nodes with only unannounced channels, this is for privacy but also, a pleb with poor liquidity can actually cause net harm to "the network". As other nodes will attempt to use your channels for routes, but as a humble pleb, your channels are not actively managed and your public node causes other's payments to fail or timeout. Also, as a pleb, you want your node to work when you go to use it, but if you're not pricing your liquidity correctly, you may find that other nodes have used up your public liquidity causing your own payments to fail or become more expensive.
As for why PlebNet has mostly disappeared:
  • its become clear that LN really only works reliably and efficiently as a Hub and Spoke network. I.e. the incentive is to open a direct channel to hubs and leverage their excellent liquidity for your node.
  • The first 10k public nodes were mostly hobbyist trying to bootstrap network effects. This led to groups like plebnet.
  • But as the network evolved, it became obvious who to open channels with (i.e. open channels to the nodes you pay the most, or the nodes with the best liquidity) the appeal of a "network for plebs" wore off as soon as people realize that plebs have terrible liquidity.
  • with recent vulnerabilities, it is increasingly suggested to only open channels to nodes you trust not to steal from you. So soliciting channels from internet strangers is risky.
  • we now have liquidity markets like LN+, Pool, and Magma where you can lease /rent channels.
  • its not the best idea (for privacy) to link your node to your social media identity. PlebNet was often filled with post of people using their nym/name and posting channel open requests which linked their identity to their node. Which effectively allowed anyone to scope the UTXOs related to that node and make assumptions about this user's bitcoin stack. Which could be used with other information posted by this user to further deanonymize them.
  • All in all, groups like Plebnet got bloated with new members and became noisy and at the same time the need for such support groups has been outsourced to more scalable platforms.
  • Additionally, LN is always changing so wikis written about the subject 2 years ago are likely already obsolete and would require constant revisions which is not scalable.
Recognize LN is still early and the best information comes direct from the source (usually githubs of the projects themselves).
But the support network for LN keeps growing and places like SN and even Reddit are great for asking questions and getting help.
Imagine if you could "burn" dirty coins as mining fees and the pool just returned you some fresh coins...
Oh wait, F2Pool already did that with Paxos/PayPal this year
Miners should want to move anyways because F2Pool is forfeiting some of their revenue on their behalf.
I like to imagine some kingpin has been reusing the same address since 2013 and hasn't even noticed they're being sanctioned yet.
Maybe a dumb question, but why don't these sanctioned individuals just use a different address?
I like the symbol you used in the title: "sats"
Get another 5-9 job. 12 hours of work per day, 8 hours sleep, 4 hours remain for commute, chores and feeding. Bonus if you're self employed for the second job, because you can directly affect your top line earnings by working harder/more effectively. Extra bonus if you work remote because you can probably do multiple jobs at the same time.
Doing Uber is actually just a way to withdraw on the value of your vehicle. You will depreciate the car faster and the earnings from gig work barely beat minimum wage after expenses/depreciation.
Doing micro tasks, or shitposting for sats is a waste of time if you are an able bodied person who can read/write english. There are greater opportunities abound.
Instead of wasting time with gig work or wasting time hoping strangers will tip you a few pennies, focus on gaining skills. Skills people will pay you for. Possibly skills you can do remotely.
We all experience the same emotions
Except about 10% of the population https://en.m.wikipedia.org/wiki/Alexithymia