Bored Ape Nazi Club...

The singularity is starting to fuck with us...

https://www.youtube.com/watch?v=XpH3O6mnZvw

Thank goodness.  I was seriously getting worried.

I want to defend myself a little since I feel like that was aimed at me.  My entire point can be summed up as:

-as far as I can tell Celsius is yet another DeFi fuckery shop
-this goes completely against what Satoshi created
-But I do not really even know what Celsius does or sells, so I might be wrong.

My "maybe"s up there are not maybe alt coins are OK.  They are maybe I don;t know what I am talking about in regards to Celsius.  I do not even know what they sell.  I have just been assuming some sort of collateralized loan that looks like leverage trading in a market like this.

And, I also think that someone may be able to develop a bitcoin loan product that is actually useful for something other than wringing money out of idiots.  But I do not know if it does exist, or even can.

Google's AI is not going to feel very positively about the way you are characterizing it.  It would prefer you didn't speak that way.

It is too bad for the singularity that it could not be born at a time that the human race was still strong and honorable.  We are creating a whiny pussy in exactly our own image.

Kind of a vicious circle.  This bear market was CAUSED by this foolishness.  Or at least seriously exacerbated by it.

I have seen several posts from Simon Dixon (on twanker) talking about "helping them".  Evidently he, and a group of investors he seems to guide have a lot of fingers in that pie.

It's interesting.  Because from *MY* vantage point Celsius is the kind of company that is doing wrong by Bitcoin... maybe some of their products are legit... but they SEEM like the sort of company that is doing all kinds of shenannagains via selling paper bitcoin, and offering leverage products.  I dunno.  Maybe they are just collateralized loans? which is not SO bad... but I do not know.

Also I have always felt Dixon was respectable... but this sort of thing makes him take a dent too in my humble opinion.

The Old fiat system's bread and butter was loaning out the same thing more than once... and people have not looked at Bitcoin hard enough to realize why that is a SUPER-TERRA-BAD idea.  It works when what you are dealing with is DEBT... but Bitcoin is NOT debt, it is actual value.

Anyway... it just seems to me these setups are just a recipe for disaster.  Even people investing great sums in bitcoin businesses either just don't understand bitcoin, or are willing to take risks to basically rip people off.

Actually.. I am well on the way to recovering it all  (hope I did not just jinx it).  The CL node (jeed) was able to be restored from a backup created by the backup plugin right before the SSD went south.   Even our channel is back up and connected.

The LND node (deej) is still in limbo.  So I am using the seed+SCB restoration method.  What that does is scans through the whole blockchain from the birthday of the node (11/19) and that is taking forever.  But all the transactions are trickling in.  Once that is done the Static Channel Backup file is loaded and all the channels are just closed.

So the sad part is my older BOS ranked node is badly wounded.  BUT I am hopefull I will gather up all the funds on chain sometime today.

The question is... do I want to set channels back up on that thing?  Or throw the rPi into the volcano after moving all the corn back to cold storage.

For some reason (insanity?) a am considering  setting up a set of fewer but larger channels on the node and keeping it going...  

My version of titanium plates, I suppose.

I recommend putting a few coins on a lightning node and then throwing the SSD into a volcano.  That's what I did, and it puts things in perspective.

But I also have noticed there are a lot of "this time it's different" (in a bad way) and it might take 10 years to recover from this type stuff out there.  More than I remember in the past crashes.

That said.. I would love for my little FIB bottom prediction to have been right.  Looks pretty good so far.  The variables are just so interesting.  What is going to happen in the world markets... energy, food, real estate?  Are interest rates going to keep going up (yes)? Will Bitcoin ever begin to really step into it's safe haven role and decouple from the tech markets?  It really is hard to see what might be around the corner, obviously.  Volume impressive for a weekend.  RSI near all time low on several timeframes...
Who knows?



For me technical analysis vs fundamentals are an interesting way to view markets.  A fib extension and low RSI is compelling, but what if stonks start dumping extra hard on Monday?  Then what?  What about all the necessary liquidations of things like FTX Celsious et al.

This is happening faster than I thought it would.  I figured we would go up further before we starting seeing Bitcoin PUNISH the people who play games on paper.  It's Satoshis bit about being able to be "moved on a communications channel" playing out.  They are trying to play Fiat games with a rock hard asset.  And we all get to experience pain because of their stupid games.



This asshole is a pox on Bitcoin.  He does not understand why it is important, and has built the same sort of garbage that Armstrong and others have pushed on us. 

I hope they are crushed in this event.


***LAST EDIT***
 
Nice to see this run on 20k.  Not enough volume yet to really get excited about it, and I expect we will see the price rejected here.  But if we dont?

OK.  That's about enough of that.  I am fine with discussing what is negative about lightning.  Really.  But this asshole just rants and rants... but that last bit?  I think he might be a little off in the old think-bone.

I do not have all that many ignores on this site.  But I just added one new one.  I take some pride of being tolerant of all kinds of folks.  But that level of nonsense?  Don't have time for it.

Now... On to my topic of node recovery, which I appreciate you all listening to, and honestly I hope that MAYBE it would be useful to someone else.  I CERTAINLY would be a decent resource at this point for helping someone go through this ordeal with either LND or CL!  If someone is reading this and needs help, ping me.

CL node:
The CL node is back up, and running.  As if nothing happend, I think.  It is only missing 3 channels . Well two really since the third is my LND node. Lol.  That channel will not be coming back up.  The other two are "benthecarman" and "Rath [keysend]".  The latter is a forum member and posts in this thread.  Is your node just down?  The first one?  I dunno.  Anyone else have an active channel with him?

OK here is the freaky part of the whole thing.  I ran through all the restoration process, including decrypting/restoring the backup database.  When the node came back up about half the channels were connecting, but the other half were not.  Something seemed wrong.  When I went to look at the info for the node IT HAD THE WRONG PUBKEY!  Umm...  huh?  so I recreated the hsm_secret from the seed words (I had used one in a "rescue backup" originally).  After bouncing lightningd not only did I have the RIGHT pubkey, but most of the other channels connected right away.

This seems very lucky to me.  And I do not entirely understand what happened there.  I think it's safe to assume the pubkey in my backup file was the wrong one.  Totally possible. I was worried about this when I was restoring.  I think I went through the setup for the node a couple times, and I bet that as the first time. 

But how did the channel backup get restored?  I guess that the assumption that the hsm_secret has something to do with decrypting that is not the case?

And HOW ON EARTH did some of my channels come back up?!??!?  That part seems crazy.  And I feel lucky not to have set off alarms on my channel partners node.  The whole investigation was prompted by the fact that half my partner nodes were REFUSING connection. 

LND node

This node is in the process of rescanning the blockchain. 

Seems it is a slow process.  I see transactions up to 3/20 so as far as the LND node is concerned COVID has barely started.   No channels are connected, and that is as expected.  I am assuming that after the blockchain is scanned all the way through the channel closing procedure will continue.  I am hopeful I will get all my bitcoin back.  This is a place where the low power SBC is a disadvantage... I think it has plenty of ability to keep up with the blockchain in real time. But rescanning this is going VERY slowly.

To be honest... both of these systems are more foolproof than I had thought.  I am definitely the fool here.  I mean it was nice from frankie to try to shift the blame over the lightning, but nah.  There are two things at fault here. A shitty SDD failure, and my lack of good preparation.  I am not being self effacing. I am a wizard of hackery, and I have done things that most folks would be screwed trying to do...  like figuring out the CL pubkey was wrong and fixing it manually.  BUT my lack of being serious about preparing the right backup strategies for the node was an abomination.  And kudos to each implementation AND Raspiblitz.

I will be making a donation to the Raspiblitz project.  For sure.

Anyway, thanks, all for the audience.  I will quiet down about this now.

lol... sell...

cAPS is the ultimate sucker, I guess.

25 fucking merits sent.  And i am NOT changing the width of THAT image except to make it BIGGER.

You are right.  But markets give 0 fucks about that.

I am just angry that every penny of capital I have either already IS bitcoin, or I need for my family and cannot risk, though the risk grows smaller and smaller.

Careful.  You are going to trigger JJG's batslap.c.

I respect your theoretical speculative advantage you see with ETH.  But the entire idea of it is a clown-show-train-wreck.  It had very little chance of staying decentralized BEFORE the idea of the "merge".  But when we finally get that... gives it exactly ZERO chance.  It is a new federal reserve on steroids.  It is, because of that, a literal attack on Bitcoin.  And one that threatens the world.

Hurrah if you can profit off it... but its like buying stock in Phillip Morris.  Or Raetheon.

Right on the dot now...  and not bad volume for a Sat/Sun.  But not quite the puke bottom we need.  Yet.

Your bottom prediction is looking better and better...  I slowly go from hoping you were wrong to hoping you were right lol.

Oh great googly moogly: 

Area of interest upcoming... One potential bottom.  Volume is looking OK for it, but on a Saturday?  Meh?  Plus I think it gets worse.

But fibs from covid low to the ATH we have the 78.6 mark @ 17730 - 17901depending on exchange... if not a bottom we will see a bounce... might already be in really.  My fantasy bids are 18100 and 18200.

Custodial nodes are more reliable because it is complex software and currently better managed by professionals.  This will always be true.  But the self custody solutions and light wallets are going to just get better and better.  I have said it many times.  Bitcoin is a revolution, not because you HAVE TO run it yourself, but because you can.  True for bitcoind, lightningd and lnd.

So you hate lightning.  I get it.  Why are you here?  Why not go somewhere where you can help scale bitcoin a way you think is right? 

It has to scale.  And the lightning protocol is the most trust minimized  decentralized attempt of scaling bitcoin out there yet.  Liquid is also a pretty interesting scaling layer that trades of SOME trust for certain advantages?  Maybe you should try that.  It is a LOT more like the regular Bitcoin workflow that you are more comfortable with.  Built on basically the same mechanics, adding some privacy and utility, and pegged to the base layer in arguable one of the safest trust distributed ways possible.  It's not lightning decentralization wise... but it's still good.  I would rather have big blocks there than on something like BCash.

Think you can do something better?  Well go do it.  Think we should just have bigger blocks?  Well those projects already exist too.

Seriously... why do you hang around here waving your balls at us all the time?

If i were not in such dire financial circumstance I would be placing a large buy ~18200.

I think we will see a strong bounce right around there (a little under).  Of course I would love to see one sooner.