I thought that we were talking about bitcoin in this here lovely thread, and lighting is a part of bitcoin, so how are you tying litecoin (LTC) into the discussion?  Are you suggesting that you can recharge your custodial wallet with LTC and then use it to transact in BTC?  or instead, since I see that nicehash is probably your mining group, so they are converting whatever your shitcoins are into bitcoin?

By the way, I had been considering various ways to charge a lightning wallet, and sure I prefer self-custodial rather than third-party custodial, but if we are in a pinch, then no problem using custodial and even using various shitcoins, but if we are not in a pinch then shouldn't we be trying to figure out various reasons to try to use bitcoin and bitcoin-related products rather than devolving into talking about shitcoins, but I see if you are talking about your mining pool then they allow you to mine shitcoins and maybe other ways of interchanging coins, so I suppose that you might be able to make some kind of connection to bitcoin, even though you did not really state the context very clearly.. 


I am not sure if I understand this point because you are testing sending back and forth, and so you are suggesting that only fees are at risk?  How about the whole transaction is at risk if it does not go through?  or if it bounces back then you end up getting the refund and paying the fees?  I still don't quite get what you mean.
 

Why are you even going down this road?  Sure it is o.k. to learn that you can use some of you third-party custodial wallets to transact with lightning in various kinds of ways, but I doubt that any of us should be promoting the use of custodial services to transact, even though it could be an option in a pinch, but if we are not in a pinch, and we are trying to have some level of self-sovereignty, shouldn't we also be attempting to have some options that are self-custody rather than going through various kinds of third-party custodial systems?   

I am not even trying to proclaim that you have to do anything, but there are some systems that are more resilent than others.

Even with mining, it seems a bit problematic if so many of them are KYC mining, and so I know if they want to operate and if they are big then they are a target and they likely have to KYC, and so maybe that was part of the excitement about Ocean, even though they have some other kinds of problems that might be getting in the way of their ability to attract customers.. if they are censoring ordinals and inscriptions and other kinds of sneaky practices, then some miners might be reluctant to mine with them, and of course, there seems to be some attraction to larger pools in order to have greater possible rewards.. so nothing is exactly and completely straight-forward.


Hopefully, you or someone else can do some of these show and tell with self-custodial types of solutions, and so many of us are probably hoping for lightning network to become more and more popular and easy to use, but we also want to figure out various easier ways to use wallets that are closer to self-custodial types of solutions.  Here is a post that I made in October 2022 in Fillippone's Lightning Network Observer thread when I was first weighing which lightning network wallets to move to after Blue wallet announced that it was discontinuing its lightning node for the use of others.

I have. One of my neighbors is 84 and he told me he plans to live to 100-110. He lived an active life, does yoga every day, reads books about life extension, keeps his mind active. But then again some people are just luckier than others, and I don't even believe in free will.

1. those altcoins have been round for years. dont blame them for the latest promotions trying to trigger people to move over to LN
2. asic miners dont choose fee's they just hash.. they care more for market price to deflate to be worth more fiat per coin.. the fee is not the subsidy its just a side bonus
5 governments are not causing bitcoin fee mania

every time there is a halving IDIOTS!!! think its tim to pay stupid excess fee's to pools
pools ran fine when the market was at $17k per coin. working fine at $34k per coin and working fine at $42k+ per coin. all while the reward is still 6.25btc.. so dont blame the halving either

when the halving happens the fiat market price takes care of it. we dont need to worry abut fee income for many more halvings

the real reasons for wanting high fees is the silly idiots that cant make money using bitcoin the traditional way o have to scam their way into taking middlemen fee's promoting crappy stuff as the next big thing

Let's run some numbers.

17-12-2023

In the following:
Ordinals refer to both Brc-20 and non-Brc20
Normal refers to "normal/non-Ordiinals" bitcoin transactions.



Transaction count total (550k):

Ordinals = 335,000 transactions
Normal  = 220,000 transactions

Transaction % (100%):

Ordinals = 60.36%
Normal  =39.63%

Fee count (504 BTC / $21,168,000 ):

Ordinals = 188 BTC / $7,896,000
Normal = 316 BTC / $13,272,000

Fee % (100%)

Ordinals = 37%
Normal = 63%


The average Ordinal transaction paid 0.00056 BTC = 23.52$
The average normal transaction paid 0.0014 BTC = 58.8$


So normal transactions paid 150% more than Ordinals.

It seems like everyone has deep pockets.



With more than 20M profit a day at stake compared to the old 1M or less, they can surely afford the proper code to manipulate these transactions, let's pretend its Foundry and Antpool alone doing this, this brings them 10M a day instead of the average 0.5M they used to make on fees, Antpool keeps all fees on their PPLNS (which they call 0% fee ) and own a lot of their own mining gears, and foundry is the same, so it's safe to assume that they would gain at least half of whatever they manage to make on fees, make that 5M a day, if they do this for 10 days every month that's 50M a month, that's a lot of money, they won't even need to play with 50M to spam the blockchain, one-tenth of that is enough.

I would also guess that many of these would be naive users who overpay their fees, and wallets that overestimate fees also add to this mess.

Not so many posts with mixers content philipma  

Since the 28th of August:
https://bitcointalk.org/index.php?topic=5471372.msg63043618#msg63043618
https://bitcointalk.org/index.php?topic=5437464.msg63238989#msg63238989
https://bitcointalk.org/index.php?topic=5475589.msg63243635#msg63243635
https://bitcointalk.org/index.php?topic=5478443.msg63347770#msg63347770
https://bitcointalk.org/index.php?topic=5476162.msg63350282#msg63350282

You won't need to buy anything, all it takes is to create one of these scams yourself. You inject one of those arbitrary messages onto the chain then sell it for a million dollars to yourself on an exchange without KYC. That way you easily "clean" a million bucks!

There has definitely been something fishy going on with this attack from the start but I don't think their purpose is to create an altcoin and introduce it as "better bitcoin". So many others have tried with their "flippening" nonsense and have failed.

No, that will be terrible, since the block subsidy is slowly being phased out, leaving security of the chain entirely up to fees.

The capped supply can only work in the long term if a fee market develops based on sustained congestion.

I am to bad at the theqnical stuff. But I was checking mempool last hour and "High Priority" did go from like 100 something to 300 in just matter of minutes. Then down to 150 again still in just minutes and now up to 265.
(I can have wrong with some numbers so I apologize) But the thing was that it happen so fast, but that maybe normal? Maybe hackers want to destroy for us BTC enthusiasts.

May I ask since I am pretty sure you have good knowledge about this, what do you think is the reason for this?


EDIT: And now when I posted this post it was down to 185 again!! WTF? That's almost 50% change in less then 15 minutes.

and it has begun
all the LN affiliate marketers promoting LN promising fees below 1sat "coz LN does balance in non bitcoin accepting msat"
are now showing their real end goal. force bitcoin fee's up so they can push LN fee's up

gone are the days of 0.0000000000001 fee's and already LN users are being charged multiple sats per payment
soon enough they will become 1% of payment amount

all for the simple fact that corporations couldnt take middlemen fee's from bitcoin., they did try "nodes should be paid for being nodes"
 so they made another network to take middlemen fee's using the bait and switch game of "cheaper then bitcoin"

if you care to wonder why fee's on bitcoin are high, look at the corporations and their idiot advertisers that dont own asics or mining pools but keep shouting that bitcoin needs to pay higher fee's. look how they try to promote that people should give up using bitcoin and try their other network locking them into staying live on another network for months but having bitcoin fee's to expensive to ever settle up and actually never own btc

damn that would be a good idea. fuck wish I thought about it.

Since I did not make that deal I will do that img over again.

thanks for catching it.


edit okay fixed it

as you can see on kraken it is somewhat harder than nice hash fourth,fifth,sixth, seven pages and funds are not moved at all

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as for short term price action i suspect a pretty deep correction, looking for ~31K. at the very least a very choppy sideway action for a while. can the price HODL at this local top for 3 weeks untill the ETF aproval? Maybe. but in any case i'm thinking correction (sooner or later) then grinding back.

but maybe i'm just Dreaming looking for a good entery price for what is sure to be an epic year!

Btc broke 42200 support
Now the target is 39600

Really hard to say... if we are going to be able to make $48k + by the end of the year.  Surely it is far from impossible, and sometimes BIG fireworks do end up happening around this time of the year.. even though the direction of such fireworks (if you know what I mean?) is not always clearly in one direction versus another.  There are ONLY two weeks left in the year (or do we say, a wee bit less than two weeks?)...


That's one of the tricky things about dee corns because just around half a day ago, it was looking as if the odds for sub $40k were getting quite high.. at least higher than 50/50.. and yet, did not end ujp happening in that particular run.. so who is going to say. .was that just a fake out and we are resuming UP, or is our current UP a fake out and we are returning DOWN?  I am not going to say, and I even hardly give too many shits since we still seem to be in the midst of a currently pretty large don't wake me up zone, if anyone had not realized it to be something in the ballpark of $35k to $55k... snooze, snooze, snooze.. if you know what I am trying to say?

Oh damn, okay.

Yeah I guess I could just turn the whole thing around. That would be easy.
Though I would love a bitmain PSU, I've seen them rated at, 40-50dB, which would be way better. I need to pull out my SPL meter and measure the dB of this PSU. I'm pretty sure it's way louder than 50dB. But I need to make a choice on something to make it quieter. I got to cap off my budget for this this cause the spending for this project is getting out of control.

So either a new PSU, or keep the old one and add more soundproofing.
What my plan was for that is to pull everything back out of the enclosure, seal up every air gap with green glue, put mass loaded vinyl down on all sides, inside the box. Then put the acoustic foam back in. The old PSU will have to be isolated on the hot side including it's exhaust, which I think wouldn't matter anyways.

Another thing I could try it just buy a new PSU, put it in the box and see what noise I get. If it's still too loud then return it. So I have a few things to consider and try.
Thanks for the help.

p.s.
I measured it and it's 79dB. The inline fan is 60dB at full power. Everything running is 51dB with the box closed. Which is not bad, but still sounds like a neighbor with a vacuum cleaner.
I went ahead and just ordered a Bitmain PSW7. Says it runs about 46dB. We'll see.

first of all those coins are not in YOUR SELF CUSTODY
but they are in a custodians(nicehash/channel partner) custody

so dont use the word "non custody" as it confuses people to think the funds are not in a custodians control
EG blockchain.info wallet is non custody because they do own own the private keys
however nicehasn controls the private keys of the locked balance.. see the difference

use the term "non-self custody" there is a difference

also YOU dont empty wallet. you request THEY close their channel to onchain settle debt with you. or you request to use their credit to you via other routes to spend your owed credit

but they way your wrote your advert of nicehash is as if you are in control and they dont have custody. when you used particular buzzwords

EG
"i empty wallet" should be "i request close session/withdrawal"
"so my balance" should be "so balance owed to me"
"non custody" should be "non self custody"
"you have funds there" " they have funds credited to you"

you wrote too many "i" and "my" and hinted there was no custodian.. when actually there is a custodian and that custodian is not you, you have no control

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first of all
the coins in your LN channel are limited to how much your channel locked and how much you already spent to then have "credit" to then get returned
the coins in your LN partner has locked is limited to their outbound(your inbound) balance

secondly
your channel with nicehash is not owing nicehash anything so they cant reimburse you 0.00128 to then free up your balance for you to be "non custodial" of the 0.00128014..
however you have inbound balance(unsettled so not yours) from nicehash's channel with you, whom commits to owing you balance and you can request using that balance be sent around their route to pay for some giftcard.
soo those funds are still in nicehash lock.. meaning they are in custody of it

think about it..
bi directional channels

philipma 0.001-> nicehash 0
                       -> philipma 0.00050000 (minus 0.0005 for fee to close session eventually)
^your channel you set up to be on LN ^ you own nobody anything and you have control of your funds, minus close session (onchain fee)

nicehashpool 6.25 -> nicehash00 0.05                   nicehash3B 0.05  -> philipma1957 0.00128014
                           -> nicehash01 0.05                                             -> nicehashpool  0.04821986 (minus 0.0005 for closing fee)
                           -> nicehash02 0.05
                           -> ....
                           -> nicehash7D 0.05
^their channels they set up to be on LN ^ they owe you 0.00128014


they have balance in their control OWING you which you then request they take back if they use another channel they have to pay cygan what they owe you
so your owed funds are in THEIR custody but you then spent that credit to buy giftcard

it would only be YOUR custody if you put your value into your keys and then you spent the balance, to a partner.. for them to return balance to you
or if from your other channels you already spent with to someone else previously, and they routed payment via that owed receiver so that you are reimbursed via them to the allow you to have free'd up balance/funds in your channel
but those coins in your channel are not mined coins but routed coins returned/re allocated back into your 'change address'

learn how routes, inbound/outbound balance, routes and channels work.

@philipma1957  You didn't made any private deals with a certain mixer to post screenshots of your avatar, did you? 😂 the point here is to stop paid promotions of mixers, having certain tactics to slide a mixer ad either in sig, avatar or in a post could result in mass abuse. So nice job by finding various methods to exploit.

I might launch digler.io to sell bibles. 😉