Wall Observer BTC/USD - Bitcoin price movement tracking & discussion

[Zedpastin]

Speaking of correct investment it depends upon how you want to invest your funds whether for long or short term.Like if we witness and compare all the traditional and modern investment options with bitcoin i don't find anything superior to it.Like gold has given diminishing returns and continue the same over charts,stocks of major companies have not given such return like apple, Microsoft,Tesla and other also but on other side bitcoin has given more then 62000% return to holders within these 13 years.So if we speak about correct investment there is not any but if we make comparisons literally we can find it in btc form which many still lags to understand.I was investing in property market and return were good but after some time due to covid people don't prefer such investment and government policies like construction over them reduces prices.Stock market is Highly dependent on any decision like government or company policy could lead to crash in prices easily and scams are coming out.But bitcoin has provided a hope for investors to secure their future without compromising anything.

Stocks like Tesla, Microsoft and Apple are highly dependent on what the public thinks of these companies and they do not have the ceiling that Bitcoin has. Bitcoin at least has a functionality and does not rely on just the public perception of it. How long will Tesla's be in demand? The whole world is moving to electric cars and there will be a lot of competition in the next couple of years. Bitcoin atm does not have any worthy competition it has copies of it but nothing that challenges Bitcoin technically. Altcoins are rightly labelled as shitcoins because they either offer nothing new or their new features are gimmicks instead of something that adds useful functionality. Gold is also becoming less and less lucrative and there are not a lot of investors which are buying Gold. Gold has limited uses while Bitcoin has functionality. That is the key difference between Bitcoin and any other investment you can make and that is why I think it is better to invest into though I would not say that you are guaranteed to profit off of it as nothing is guaranteed but I think it is the safer option when you compare it to other investments.

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[Phil_S]

I saw a graph on Twitter the other day (or was it here?) highlighting Fridays pump. It was a striking evidence.
I am going to reproduce it if I cannot find it.

Lots of people are looking for patterns, no doubt...

[ChartBuddy]

Explanation

[Hueristic]

Bitcoin fixes this

https://www.google.com/search?q=they+live+signs&client=firefox-b-1-d&source=lnms&tbm=isch&sa=X&ved=2ahUKEwjR17q9ytbyAhWJzKQKHQFaBI0Q_AUoAXoECAEQAw&biw=1307&bih=543

[Tash]

resolution of my phone

Inflation ajusted 1987 million is $ 2,360,000
Total Inflation (1987-2021)    135.72%
Todays millionare just got a little over 400k 1987 purchasing power

[vapourminer]

https://www.google.com/search?q=they+live+signs&client=firefox-b-1-d&source=lnms&tbm=isch&sa=X&ved=2ahUKEwjR17q9ytbyAhWJzKQKHQFaBI0Q_AUoAXoECAEQAw&biw=1307&bih=543

well im here to buy bitcoin and chew gum... and im all out of gum..

[cAPSLOCK]

On many of my lightning channels I charge no fee.  On some high traffic channels (that are not mainly streaming payments, or channels with a country that NEEDS BTC (Cuba, ES, Afghanistan, Venezuela)) I charge an absolutely minimal fee, in theory to discourage attacks, though I am not sure if 2 satoshis is enough to have an anti-spam effect on a ~$500 payment, lol...



Who says lightning can only handle very small payments?  My little computer the size of an Altoids tin routed a successful >1000000 sat payment!  And does frequently.  And I rake in a whopping $0.00097.  It'll take more than 100 of these to make me a whole penny.

I am watching my traffic very carefully, and it is most certainly increasing.  My channel with Podcast Index is my favourite with payments commonly between 1-3 satoshis.  I have records of facilitating payments EACH SECOND to this node at 3 satoshis each...  This is letting a podacaster earn $5hr for their content instead of the $3/hr they would earn if each of the forwards I took just 1 SAT.

Yes, I am losing potential revenue... But I am also avoiding having to report that as income lol.  And my very biggest reason to do it is to make it possible for these pioneers to spin this thing up and make it work.

Here is a fun little segment from my logs... with some of the sensitive info XXXX'd out.  3 sats per second!  My raspberryPi is helping make streaming payment possible!!!!

Code:

1630014001,redctdIncomingNode,redctdOutgoingNode,3,3,0,0,3000,3000,26/AUG/2021 22:40,XxXxX.com / XXXXXORIGNNODE,Podcast Index
1630013942,redctdIncomingNode,redctdOutgoingNode,3,3,0,0,3000,3000,26/AUG/2021 22:39,XxXxX.com / XXXXXORIGNNODE,Podcast Index
1630013881,redctdIncomingNode,redctdOutgoingNode,3,3,0,0,3000,3000,26/AUG/2021 22:38,XxXxX.com / XXXXXORIGNNODE,Podcast Index
1630013825,redctdIncomingNode,redctdOutgoingNode,3,3,0,0,3000,3000,26/AUG/2021 22:37,XxXxX.com / XXXXXORIGNNODE,Podcast Index
1630013762,redctdIncomingNode,redctdOutgoingNode,3,3,0,0,3000,3000,26/AUG/2021 22:36,XxXxX.com / XXXXXORIGNNODE,Podcast Index
1630013701,redctdIncomingNode,redctdOutgoingNode,3,3,0,0,3000,3000,26/AUG/2021 22:35,XxXxX.com / XXXXXORIGNNODE,Podcast Index
1630013640,redctdIncomingNode,redctdOutgoingNode,3,3,0,0,3000,3000,26/AUG/2021 22:34,XxXxX.com / XXXXXORIGNNODE,Podcast Index
1630013582,redctdIncomingNode,redctdOutgoingNode,3,3,0,0,3000,3000,26/AUG/2021 22:33,XxXxX.com / XXXXXORIGNNODE,Podcast Index
1630013519,redctdIncomingNode,redctdOutgoingNode,3,3,0,0,3000,3000,26/AUG/2021 22:31,XxXxX.com / XXXXXORIGNNODE,Podcast Index
1630013461,redctdIncomingNode,redctdOutgoingNode,3,3,0,0,3000,3000,26/AUG/2021 22:31,XxXxX.com / XXXXXORIGNNODE,Podcast Index
1630013401,redctdIncomingNode,redctdOutgoingNode,3,3,0,0,3000,3000,26/AUG/2021 22:30,XxXxX.com / XXXXXORIGNNODE,Podcast Index
1630013341,redctdIncomingNode,redctdOutgoingNode,3,3,0,0,3000,3000,26/AUG/2021 22:29,XxXxX.com / XXXXXORIGNNODE,Podcast Index
1630013282,redctdIncomingNode,redctdOutgoingNode,3,3,0,0,3000,3000,26/AUG/2021 22:28,XxXxX.com / XXXXXORIGNNODE,Podcast Index
1630013221,redctdIncomingNode,redctdOutgoingNode,3,3,0,0,3000,3000,26/AUG/2021 22:27,XxXxX.com / XXXXXORIGNNODE,Podcast Index
1630013162,redctdIncomingNode,redctdOutgoingNode,3,3,0,0,3000,3000,26/AUG/2021 22:26,XxXxX.com / XXXXXORIGNNODE,Podcast Index
1630013103,redctdIncomingNode,redctdOutgoingNode,3,3,0,0,3000,3000,26/AUG/2021 22:25,XxXxX.com / XXXXXORIGNNODE,Podcast Index
1630013040,redctdIncomingNode,redctdOutgoingNode,3,3,0,0,3000,3000,26/AUG/2021 22:24,XxXxX.com / XXXXXORIGNNODE,Podcast Index
1630012981,redctdIncomingNode,redctdOutgoingNode,3,3,0,0,3000,3000,26/AUG/2021 22:23,XxXxX.com / XXXXXORIGNNODE,Podcast Index
1630012922,redctdIncomingNode,redctdOutgoingNode,3,3,0,0,3000,3000,26/AUG/2021 22:22,XxXxX.com / XXXXXORIGNNODE,Podcast Index
1630012862,redctdIncomingNode,redctdOutgoingNode,3,3,0,0,3000,3000,26/AUG/2021 22:21,XxXxX.com / XXXXXORIGNNODE,Podcast Index
1630012802,redctdIncomingNode,redctdOutgoingNode,3,3,0,0,3000,3000,26/AUG/2021 22:20,XxXxX.com / XXXXXORIGNNODE,Podcast Index
1630012740,redctdIncomingNode,redctdOutgoingNode,3,3,0,0,3000,3000,26/AUG/2021 22:19,XxXxX.com / XXXXXORIGNNODE,Podcast Index
1630012683,redctdIncomingNode,redctdOutgoingNode,3,3,0,0,3000,3000,26/AUG/2021 22:18,XxXxX.com / XXXXXORIGNNODE,Podcast Index
1630012622,redctdIncomingNode,redctdOutgoingNode,3,3,0,0,3000,3000,26/AUG/2021 22:17,XxXxX.com / XXXXXORIGNNODE,Podcast Index
1630012563,redctdIncomingNode,redctdOutgoingNode,3,3,0,0,3000,3000,26/AUG/2021 22:16,XxXxX.com / XXXXXORIGNNODE,Podcast Index
1630012500,redctdIncomingNode,redctdOutgoingNode,3,3,0,0,3000,3000,26/AUG/2021 22:15,XxXxX.com / XXXXXORIGNNODE,Podcast Index
1630012374,redctdIncomingNode,redctdOutgoingNode,3,3,0,0,3000,3000,26/AUG/2021 22:12,XxXxX.com / XXXXXORIGNNODE,Podcast Index
1630012314,redctdIncomingNode,redctdOutgoingNode,3,3,0,0,3000,3000,26/AUG/2021 22:11,XxXxX.com / XXXXXORIGNNODE,Podcast Index
1630012255,redctdIncomingNode,redctdOutgoingNode,3,3,0,0,3000,3000,26/AUG/2021 22:10,XxXxX.com / XXXXXORIGNNODE,Podcast Index
1630012194,redctdIncomingNode,redctdOutgoingNode,3,3,0,0,3000,3000,26/AUG/2021 22:09,XxXxX.com / XXXXXORIGNNODE,Podcast Index
1630012135,redctdIncomingNode,redctdOutgoingNode,3,3,0,0,3000,3000,26/AUG/2021 22:08,XxXxX.com / XXXXXORIGNNODE,Podcast Index
1630012075,redctdIncomingNode,redctdOutgoingNode,3,3,0,0,3000,3000,26/AUG/2021 22:07,XxXxX.com / XXXXXORIGNNODE,Podcast Index
1630012014,redctdIncomingNode,redctdOutgoingNode,3,3,0,0,3000,3000,26/AUG/2021 22:06,XxXxX.com / XXXXXORIGNNODE,Podcast Index
1630011955,redctdIncomingNode,redctdOutgoingNode,3,3,0,0,3000,3000,26/AUG/2021 22:05,XxXxX.com / XXXXXORIGNNODE,Podcast Index
1630011894,redctdIncomingNode,redctdOutgoingNode,3,3,0,0,3000,3000,26/AUG/2021 22:04,XxXxX.com / XXXXXORIGNNODE,Podcast Index

I am certainly not against lightning node operators making money for routing payments... But I have to admit, I wonder if there are more people like me out there if it will make this catch on a little quicker?

[cAPSLOCK]

More of these, please.  Maybe someday I will put one up.

But I know a lot of folks think the Guy Fawkes mask is cool and all, but doesn't it sort of reinforce the "shadowy super coder", "bitcoin is being used for dark purposes" stereotype?

In the US probably nearly half of us would associate that with Antifa, and most of those people would not see it in a positive light.

-says a random pseudonymous dude on the internet...

[ChartBuddy]

Explanation

[Phil_S]

50K - Where are you

Historically, those kinds of set-ups have not usually ended well for the coyote.  Perhaps that's why notlambchops used to use wylie coyote for his bitcoin naysaying props, and maybe we would not want to be identifying our lil selfies with such wylie coyote in such circumstances.

Just saying.

Good point.

"Bitcoin is death" is another popular meme that seems weird to me.

Occasionally you see some themes that are pro-bitcoin on the surface, but sending strange subliminal messages.

[JayJuanGee]

Nothing is guaranteed aysg76 including the 4 year cycles and including that BTC will always be profitable 4 years later, but otherwise I agree with what you are saying.

For sure we cannot give guarantee that whether it will give profits in future or not but if you look at past graphs we can say that foreseeable future shows bitcoin as the best and deflationary approach and investment which will give profits to the holders.Even if we are not sure we can imagine that after 4 years btc prices will not be same and those who have invested at current prices of $48k also let's say if hold for these 4 years cycle during whole pump and dump would be in profits.

Each of us likely have differing ways of describing matters.  We can say something like bitcoin is not guaranteed, and it has a four year cycle that has so far played out, and we can also suggest that it seems to be the best investment that has existed and likely facilitating the largest wealth transfer in history.. while at the same time none of it is guaranteed... and bitcoin is also an asymmetric bet that seems to have a very large high upside potential .. that is also not guaranteed.. so bitcoin can have all these wonderful things going for it that justifies investing into it and at the same time not being guaranteed.

There is also the idea of no correct investment for everyone, so sure some people may end up with some shitcoins in their portfolios based on their circumstances and conclusions about what they believe fits their needs, and for sure I am not advocating shitcoins at all, but I do consider them to be so damned much correlated to bitcoin that it is way the hell better to learn about bitcoin and to get an adequate stake in bitcoin way before even exploring the mostly nonsense of shitcoins, and frequently those individuals who get involved in bitcoin in fairly deep ways will lose interest for shitcoins, not merely based on monetary performance but based on understanding aspects of what differentiates bitcoins from shitcoins.

Many people think that some shitcoins are at lower prices and low Market cap and they could easily get a big chunk of profits from them and allocate more of them or under someone's influence just invested their life savings into such shitcoins and after market dumps the prices crash,whales take out profits and all other lose funds and then blame the market for the same.Bitcoin is best in safe in all terms like prices, decent returns, security and adoption and why can't they see it.

Who cares what people say about shitcoins?  It's not really on topic here to be comparing and contrasting various shitcoins.  It's a slippery slope that does not lead us anywhere

Speaking of correct investment it depends upon how you want to invest your funds whether for long or short term.Like if we witness and compare all the traditional and modern investment options with bitcoin i don't find anything superior to it.Like gold has given diminishing returns and continue the same over charts,stocks of major companies have not given such return like apple, Microsoft,Tesla and other also but on other side bitcoin has given more then 62000% return to holders within these 13 years.So if we speak about correct investment there is not any but if we make comparisons literally we can find it in btc form which many still lags to understand.I was investing in property market and return were good but after some time due to covid people don't prefer such investment and government policies like construction over them reduces prices.Stock market is Highly dependent on any decision like government or company policy could lead to crash in prices easily and scams are coming out.But bitcoin has provided a hope for investors to secure their future without compromising anything.

Of course, there are also other places that bitcoiners can invest, yet I am also having some difficulties understanding why we need to get into discussing any details about those kinds of options, without first figuring out what the bitcoin approach might be, and then just generally people might have other things that they are already invested into before they even get to investing into bitcoin, they are simultaneously investing into or they might not have a large enough investment portfolio in order to have a lot of different assets contained within their portfolio... seems a bit off topic if we are talking about other investments before figuring out the bitcoin component first. at least in this thread.

Of course, historically I have frequently posted about the mature investor who already has some kind of investment portfolio and therefor I have always suggested for that kind of investor to figure out a way to allocate 1% to 10% into bitcoin, and there is largely ONLY vague reference to what the other investments might be because that would be largely off topic here.. and then if there is a brand new investor who does not have any other investments, then we would be more interested in establishing his/her bitcoin investment rather than figuring out what other investments that person might have or be considering... and I am not even opposed to starting out with only bitcoin and cash, and then once the bitcoin and cash portfolio is built up, then perhaps figuring out diversification after that, yet again there seems to be hardly any need to discuss what those other investments might be, if any.

[Zedpastin]

On many of my lightning channels I charge no fee.  On some high traffic channels (that are not mainly streaming payments, or channels with a country that NEEDS BTC (Cuba, ES, Afghanistan, Venezuela)) I charge an absolutely minimal fee, in theory to discourage attacks, though I am not sure if 2 satoshis is enough to have an anti-spam effect on a ~$500 payment, lol...

Who says lightning can only handle very small payments?  My little computer the size of an Altoids tin routed a successful >1000000 sat payment!  And does frequently.  And I rake in a whopping $0.00097.  It'll take more than 100 of these to make me a whole penny.

I am watching my traffic very carefully, and it is most certainly increasing.  My channel with Podcast Index is my favourite with payments commonly between 1-3 satoshis.  I have records of facilitating payments EACH SECOND to this node at 3 satoshis each...  This is letting a podacaster earn $5hr for their content instead of the $3/hr they would earn if each of the forwards I took just 1 SAT.

Yes, I am losing potential revenue... But I am also avoiding having to report that as income lol.  And my very biggest reason to do it is to make it possible for these pioneers to spin this thing up and make it work.

Here is a fun little segment from my logs... with some of the sensitive info XXXX'd out.  3 sats per second!  My raspberryPi is helping make streaming payment possible!!!!

I am certainly not against lightning node operators making money for routing payments... But I have to admit, I wonder if there are more people like me out there if it will make this catch on a little quicker?

Imo this is how the lightening network should operate in the future. I said in another topic that the problem with Bitcoin is the fees and the complexity of setting up Lightening nodes but if we can get people to not charge much for operating a Lightening node then the incentive for people adopting Bitcoin compared to credit cards will go up. Atm vendors are accepting credit cards because they are instant and they have no fees but in time when Bitcoin gets more popular vendors will be encouraged to accept Bitcoin but the only problem for them would be people would still be more likely to pay with their credit cards because of the fees. Although if we can get more people like you setting up Lightening nodes with little fees the incentive of customers paying in Bitcoin increases and then more vendors will want to accept Bitcoin increasing its adoption and improving the price for all of us.

The only problem we have a lot of people do not see past that they can earn money while operating a node and processing transactions but if they saw that reducing their commission for increased adoption would benefit them more. I have to ask does what you earn processing transactions pay for the electricity that you are using to operate the node because those are some very small fees.

[philipma1957]

More of these, please.  Maybe someday I will put one up.tc

But I know a lot of folks think the Guy Fawkes mask is cool and all, but doesn't it sort of reinforce the "shadowy super coder", "bitcoin is being used for dark purposes" stereotype?

In the US probably nearly half of us would associate that with Antifa, and most of those people would not see it in a positive light.

-says a random pseudonymous dude on the internet...

it is likely a bank advert try to hurt btc

[ChartBuddy]

Explanation

[cAPSLOCK]

On many of my lightning channels I charge no fee.  On some high traffic channels (that are not mainly streaming payments, or channels with a country that NEEDS BTC (Cuba, ES, Afghanistan, Venezuela)) I charge an absolutely minimal fee, in theory to discourage attacks, though I am not sure if 2 satoshis is enough to have an anti-spam effect on a ~$500 payment, lol...

Who says lightning can only handle very small payments?  My little computer the size of an Altoids tin routed a successful >1000000 sat payment!  And does frequently.  And I rake in a whopping $0.00097.  It'll take more than 100 of these to make me a whole penny.

I am watching my traffic very carefully, and it is most certainly increasing.  My channel with Podcast Index is my favourite with payments commonly between 1-3 satoshis.  I have records of facilitating payments EACH SECOND to this node at 3 satoshis each...  This is letting a podacaster earn $5hr for their content instead of the $3/hr they would earn if each of the forwards I took just 1 SAT.

Yes, I am losing potential revenue... But I am also avoiding having to report that as income lol.  And my very biggest reason to do it is to make it possible for these pioneers to spin this thing up and make it work.

Here is a fun little segment from my logs... with some of the sensitive info XXXX'd out.  3 sats per second!  My raspberryPi is helping make streaming payment possible!!!!

I am certainly not against lightning node operators making money for routing payments... But I have to admit, I wonder if there are more people like me out there if it will make this catch on a little quicker?

Imo this is how the lightening network should operate in the future. I said in another topic that the problem with Bitcoin is the fees and the complexity of setting up Lightening nodes but if we can get people to not charge much for operating a Lightening node then the incentive for people adopting Bitcoin compared to credit cards will go up. Atm vendors are accepting credit cards because they are instant and they have no fees but in time when Bitcoin gets more popular vendors will be encouraged to accept Bitcoin but the only problem for them would be people would still be more likely to pay with their credit cards because of the fees. Although if we can get more people like you setting up Lightening nodes with little fees the incentive of customers paying in Bitcoin increases and then more vendors will want to accept Bitcoin increasing its adoption and improving the price for all of us.

The only problem we have a lot of people do not see past that they can earn money while operating a node and processing transactions but if they saw that reducing their commission for increased adoption would benefit them more. I have to ask does what you earn processing transactions pay for the electricity that you are using to operate the node because those are some very small fees.

Another interesting twist in the lightning vs Bitcoin vs credit card models:

Credit cards charge a flat fee of ~3% for each purchase.  So when you go the the computer store and buy your $2500 Macbook $75 of this goes straight to the chain of people who facilitate the CC purchase.  But this *seems* to be invisible to you.  Because the laptop cost $2500, and you PAID $2500.  But the store only received 2425.00.  (Of course taxes are a totally different animal).  So the math involved in getting this all right for the supply chain from the semi manufacturers to the seller takes that 3% into account in the suggested retail price.

The model we currently see in the lightning network the fees are paid by the BUYER.  If i send you 5,157,320 satoshis (currently ~2.5kUSD) you GET exactly that many satoshis. As a side note this is a fairly BIG lightning invoice... but also possible today thanks to wumbo channels and multi-path-payments. It would still be hard to get this one through without a channel to the seller, but it will get easier over time.  Fees paid for a transaction this size will vary WILDLY based on the available nodes and how many hops needed to make the payment.  But we could expect to pay somewhere between 500-50000 sats for this payment.

Bitcoin on chain payments ALSO charge the sender the fee. But there is a very interesting difference to fee structures on lightning.  And one that is quite useful to commerce.  It is an interesting twist that currently if you send ANY AMOUNT onchain it will, as of this post, cost you about $0.36usd to see it make a block within an hour (2sat/b).  This is true if you send ten cents or if you send $10,000,000. This illustrates the problem with micropayments that Satoshi and Hal Finney and others discussed here in the early days.

The lightning network charges fees TWO ways.

-A flat fee
-a fee rate

Both denominated in millisats (0.000000000001 BTC) you will often see a 1000 milisat fee, with fee rate that can be between 1-2%.  This means a lightning network payment might see fees that are often less than, but approaching the fees on credit cards.  Sometimes more, sometimes less.  But the structure is particularly useful for micropayments because you can charge even less than a satoshi for very small transactions.  And people pushing the limits and using giant liquidity pay an arguably fairer price.

But this will hit the buyer.  When you buy your $2500 macbook you could easily pay $25-50 in fees to get that payment across (again assuming you are connected well enough to make that large payment.

We should see several interesting dynamics come into play.

1. Prices will likely drop at merchants that take Bitcoin, and discounts for payment in bitcoin will be offered.
2. Wallets will begin to intelligently choose between on and off chain payments at certain thresholds.
3. Real competition in the lightning node fee markets will develop as you will not have the near monopolies the CCs currently are.
4. It will make sence to open channels to retailers you frequent the most.  The grocery store, and perhaps even the computer store.  And then you may be able to reduce your fees to 0, or close to it.

Banks will eventually do complex channel management, and i predict we might even see payment apps, that can use the lightning network branded by the bank.  Strike has shown the way, and banks may begin to realize they can do FIAT denominated electronic payments by using the lightning network backend.

When you think about it a little and start to see the future.. it's pretty amazing, in my opinion.

[Zedpastin]

Of course, historically I have frequently posted about the mature investor who already has some kind of investment portfolio and therefor I have always suggested for that kind of investor to figure out a way to allocate 1% to 10% into bitcoin, and there is largely ONLY vague reference to what the other investments might be because that would be largely off topic here.. and then if there is a brand new investor who does not have any other investments, then we would be more interested in establishing his/her bitcoin investment rather than figuring out what other investments that person might have or be considering... and I am not even opposed to starting out with only bitcoin and cash, and then once the bitcoin and cash portfolio is built up, then perhaps figuring out diversification after that, yet again there seems to be hardly any need to discuss what those other investments might be, if any.

This probably is not good investment advice but I think diversifying instead of investing all you can in Bitcoin would be a poor choice. Bitcoin is the most revolutionary thing that exists today and even if it is not used as a mainstream currency the potential to earn on it is bigger than any market I have invested in previously. I have researched many hours on what the best things are to invest in and my conclusion is the property market is always ok to invest in because there will always be demand and Bitcoin because the demand in freedom is always going to be higher than what we have in fiat. I think diversifying is good because you are not risking all your eggs in 1 basket but I think if you are not investing all you can afford into Bitcoin now you will lose out.

[Elwar]

On many of my lightning channels I charge no fee.  On some high traffic channels (that are not mainly streaming payments, or channels with a country that NEEDS BTC (Cuba, ES, Afghanistan, Venezuela)) I charge an absolutely minimal fee, in theory to discourage attacks, though I am not sure if 2 satoshis is enough to have an anti-spam effect on a ~$500 payment, lol...



Who says lightning can only handle very small payments?  My little computer the size of an Altoids tin routed a successful >1000000 sat payment!  And does frequently.  And I rake in a whopping $0.00097.  It'll take more than 100 of these to make me a whole penny.

I am watching my traffic very carefully, and it is most certainly increasing.  My channel with Podcast Index is my favourite with payments commonly between 1-3 satoshis.  I have records of facilitating payments EACH SECOND to this node at 3 satoshis each...  This is letting a podacaster earn $5hr for their content instead of the $3/hr they would earn if each of the forwards I took just 1 SAT.

Yes, I am losing potential revenue... But I am also avoiding having to report that as income lol.  And my very biggest reason to do it is to make it possible for these pioneers to spin this thing up and make it work.

Here is a fun little segment from my logs... with some of the sensitive info XXXX'd out.  3 sats per second!  My raspberryPi is helping make streaming payment possible!!!!

Code:

1630014001,redctdIncomingNode,redctdOutgoingNode,3,3,0,0,3000,3000,26/AUG/2021 22:40,XxXxX.com / XXXXXORIGNNODE,Podcast Index
1630013942,redctdIncomingNode,redctdOutgoingNode,3,3,0,0,3000,3000,26/AUG/2021 22:39,XxXxX.com / XXXXXORIGNNODE,Podcast Index
1630013881,redctdIncomingNode,redctdOutgoingNode,3,3,0,0,3000,3000,26/AUG/2021 22:38,XxXxX.com / XXXXXORIGNNODE,Podcast Index
1630013825,redctdIncomingNode,redctdOutgoingNode,3,3,0,0,3000,3000,26/AUG/2021 22:37,XxXxX.com / XXXXXORIGNNODE,Podcast Index
1630013762,redctdIncomingNode,redctdOutgoingNode,3,3,0,0,3000,3000,26/AUG/2021 22:36,XxXxX.com / XXXXXORIGNNODE,Podcast Index
1630013701,redctdIncomingNode,redctdOutgoingNode,3,3,0,0,3000,3000,26/AUG/2021 22:35,XxXxX.com / XXXXXORIGNNODE,Podcast Index
1630013640,redctdIncomingNode,redctdOutgoingNode,3,3,0,0,3000,3000,26/AUG/2021 22:34,XxXxX.com / XXXXXORIGNNODE,Podcast Index
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1630013401,redctdIncomingNode,redctdOutgoingNode,3,3,0,0,3000,3000,26/AUG/2021 22:30,XxXxX.com / XXXXXORIGNNODE,Podcast Index
1630013341,redctdIncomingNode,redctdOutgoingNode,3,3,0,0,3000,3000,26/AUG/2021 22:29,XxXxX.com / XXXXXORIGNNODE,Podcast Index
1630013282,redctdIncomingNode,redctdOutgoingNode,3,3,0,0,3000,3000,26/AUG/2021 22:28,XxXxX.com / XXXXXORIGNNODE,Podcast Index
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1630012862,redctdIncomingNode,redctdOutgoingNode,3,3,0,0,3000,3000,26/AUG/2021 22:21,XxXxX.com / XXXXXORIGNNODE,Podcast Index
1630012802,redctdIncomingNode,redctdOutgoingNode,3,3,0,0,3000,3000,26/AUG/2021 22:20,XxXxX.com / XXXXXORIGNNODE,Podcast Index
1630012740,redctdIncomingNode,redctdOutgoingNode,3,3,0,0,3000,3000,26/AUG/2021 22:19,XxXxX.com / XXXXXORIGNNODE,Podcast Index
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1630012255,redctdIncomingNode,redctdOutgoingNode,3,3,0,0,3000,3000,26/AUG/2021 22:10,XxXxX.com / XXXXXORIGNNODE,Podcast Index
1630012194,redctdIncomingNode,redctdOutgoingNode,3,3,0,0,3000,3000,26/AUG/2021 22:09,XxXxX.com / XXXXXORIGNNODE,Podcast Index
1630012135,redctdIncomingNode,redctdOutgoingNode,3,3,0,0,3000,3000,26/AUG/2021 22:08,XxXxX.com / XXXXXORIGNNODE,Podcast Index
1630012075,redctdIncomingNode,redctdOutgoingNode,3,3,0,0,3000,3000,26/AUG/2021 22:07,XxXxX.com / XXXXXORIGNNODE,Podcast Index
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1630011955,redctdIncomingNode,redctdOutgoingNode,3,3,0,0,3000,3000,26/AUG/2021 22:05,XxXxX.com / XXXXXORIGNNODE,Podcast Index
1630011894,redctdIncomingNode,redctdOutgoingNode,3,3,0,0,3000,3000,26/AUG/2021 22:04,XxXxX.com / XXXXXORIGNNODE,Podcast Index

I am certainly not against lightning node operators making money for routing payments... But I have to admit, I wonder if there are more people like me out there if it will make this catch on a little quicker?

I'm setting my Umbrel node at the moment. I plan to do the same, encourage use through low fees.

I used all of their recommended hardware but am ordering a new SSD to USB chord to replace the case and a new power chord that is the official Raspberry Pi one. It tends to disconnect from the SSD from time to time. The blocks are taking a long time to load due to either low bandwidth or some bottleneck between Panama and the peer nodes. Hopefully my node will help any future Panama nodes.

I look forward to using sphinx chat. May set up a seastead tribe for chatting.

[Zedpastin]

We should see several interesting dynamics come into play.

1. Prices will likely drop at merchants that take Bitcoin, and discounts for payment in bitcoin will be offered.
2. Wallets will begin to intelligently choose between on and off chain payments at certain thresholds.
3. Real competition in the lightning node fee markets will develop as you will not have the near monopolies the CCs currently are.
4. It will make sence to open channels to retailers you frequent the most.  The grocery store, and perhaps even the computer store.  And then you may be able to reduce your fees to 0, or close to it.

Banks will eventually do complex channel management, and i predict we might even see payment apps, that can use the lightning network branded by the bank.  Strike has shown the way, and banks may begin to realize they can do FIAT denominated electronic payments by using the lightning network backend.

When you think about it a little and start to see the future.. it's pretty amazing, in my opinion.

I will get to some of your post later on but what do you think about merchants creating and operating their own Lightening node. I think that would be more profitable for them and while not every merchant might have the knowledge to do it I think the bigger companies would open their own nodes and dictate their own fees. That could be problematic if Google started doing that because they could demand higher fees and still get business while smaller businesses would need to charge more for the product and would need to use lightening nodes which already exist or create their own with fees which would not compete with Google.

[sirazimuth]

https://bitcoinmagazine.com/culture/1-million-bitcoin-price-billionaire

However for Balaji it appears that there is another, perhaps more fascinating flippening that will come soon - the flippening of billionaires. He says that when bitcoin hits milestones like $100,000, there will be as many bitcoin billionaires as there are traditional billionaires. When bitcoin hits one million dollars, the world’s bitcoin and crypto billionaires will surpass the number of traditional billionaires.

I have no doubt that before I'm 6 feet under, my tiny stash could be worth in the $millions.
However, seeing how a loaf of bread and a gallon of milk at that future point in time will cost $1999.99, that's not really saying a lot.....

.....

I do not know why But i feel so much pity for People Who only learned about money in their life and just revolve their life about money.

......

Says the clown with "I
need 3 Bitcoins. Urgently .."
in their avatar.

Pretty sure you are just an idiot troll
who knows how, and loves to get quoted in the wob,
so I give you credit for that.   (< I know... this one is not a highcoo, oh well.... )

[ChartBuddy]

Explanation