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

[BobLawblaw]

I'm no expert in LN, but shouldn't this be happening automatically?

In theory, yes, but AFAIK, there are no automagic methods of doing this. I am quite very possibly missing some obscure tool or method that more learned node-ops use (Using RTL as the primary management tool)

It's been my complaint all along (Lighting channel state balancing management), and it's an AI project Rick has started working on for me, after setting up his own Umbrel node, but the ranch project is really barreling along at a speedy pace lately, and, well, Rick and a friend are going to start an apiary, and I'm having a compact track loader delivered, that we purchased, so I'll be clearing land for them to set hives, and wildflower fields flanking the hives next week blah blah etc etc

NGL. Really starting to look forward to enjoying country life. It's fucking beautiful out there. So quiet...

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[hisslyness]

In Lightning Network matters, I kinda figured out how to get my channels back into a balanced state, organically, after getting drained to one side.

tl;dr: I set a "normal" free policy for routing peers of something like 1000/100. Bigger nodes get charged higher rates, eg: 1000/350.

Eventually, I'll drain the liquidity, no matter how high I set my fee rate, and the channel ends up going stale if I don't take action on it.

Instead now, when the channel gets drained one way, practically entirely, I basically set my fee rates extremely low, like 0/10, and I start getting a lot of traffic coming back the other way, filling up my drained liquidity again.

Probably blatantly obvious to some, but I'm a tard, and just figured this out on my own over the last 48 hours, and it's working ridiculously well so far to re-fill drained liquidity.

As the channel gets more balanced, I start cranking up the fees, and stuff starts flowing back out the other way, for another round of profit taking on routing.

Neato.

I'm no expert in LN, but shouldn't this be happening automatically? I think what the developers should be focusing on, is code that can be run in a set-and-forget mode, without us having to pamper it constantly to keep it in a healthy state. Maybe I'm asking too much, but the way things stand (based on what I'm reading/learning from you guys), operating a LN node is still a messy piece of work. Good thing is that it seems to be gaining more and more ground, despite the lack of user-friendliness.

In a nutshell, no…

At the core of it, LN still has to be profitable to survive. People will always do it for free, but ultimately if they are forced to do it at a loss, they will eventually pull out of go bust…

When you move SATs from one channel to another to rebalance, there has to be a corresponding, channel to balance the transaction…

Node A to Node B to Node C to Node A

In a perfect scenario, that would balance out, but what if Node B has a higher routing fee?.. who will cover that cost?

Sure we can route for free, something we do during a triangle swap. But never happens unless all participants co-operate.

Can explain n more detail if you want…

[shahzadafzal]

https://twitter.com/nayibbukele/status/1488018025223704583?s=20&t=TltCpaauc7Gu1W5HGkk9zA

[ChartBuddy]

Explanation

[AlcoHoDL]

I'm no expert in LN, but shouldn't this be happening automatically?

In theory, yes, but AFAIK, there are no automagic methods of doing this. I am quite very possibly missing some obscure tool or method that more learned node-ops use (Using RTL as the primary management tool)

It's been my complaint all along (Lighting channel state balancing management), and it's an AI project Rick has started working on for me, after setting up his own Umbrel node, but the ranch project is really barreling along at a speedy pace lately, and, well, Rick and a friend are going to start an apiary, and I'm having a compact track loader delivered, that we purchased, so I'll be clearing land for them to set hives, and wildflower fields flanking the hives next week blah blah etc etc

NGL. Really starting to look forward to enjoying country life. It's fucking beautiful out there. So quiet...

This is so great, really happy for you guys, you deserve all the blessings you can get. I know this is hard work, but just imagine how it's going to be when it's done. Your own little paradise on Earth. Feeling a little envious (in a good way).

Thanks for all the info on LN. I like the AI idea Rick is working on, you could even consider offering the code to the community at some point. What's important is that LN is growing and getting more adoption. It's not really meant to be run by simple users anyway.

I'm no expert in LN, but shouldn't this be happening automatically? I think what the developers should be focusing on, is code that can be run in a set-and-forget mode, without us having to pamper it constantly to keep it in a healthy state. Maybe I'm asking too much, but the way things stand (based on what I'm reading/learning from you guys), operating a LN node is still a messy piece of work. Good thing is that it seems to be gaining more and more ground, despite the lack of user-friendliness.

In a nutshell, no…

At the core of it, LN still has to be profitable to survive. People will always do it for free, but ultimately if they are forced to do it at a loss, they will eventually pull out of go bust…

When you move SATs from one channel to another to rebalance, there has to be a corresponding, channel to balance the transaction…

Node A to Node B to Node C to Node A

In a perfect scenario, that would balance out, but what if Node B has a higher routing fee?.. who will cover that cost?

Sure we can route for free, something we do during a triangle swap. But never happens unless all participants co-operate.

Can explain n more detail if you want…

Thanks for the info, it looks more complicated than what a piece of code can automatically do. Maybe it's safer that way, because having an algorithm do stuff automatically can be a source of instability and even a security risk, and I'm sure the developers know this. Maybe it's just too risky to let a piece of code manage the balancing.

No need to expand more on this, far too busy IRL for me to get involved currently. But it's good to read and learn from the experts out there.

[El duderino_]

https://twitter.com/nayibbukele/status/1488018025223704583?s=20&t=TltCpaauc7Gu1W5HGkk9zA

Very nice presidential tweet, though those exact words been written before :-)

Plagiarism 

[AlcoHoDL]

https://twitter.com/nayibbukele/status/1488018025223704583?s=20&t=TltCpaauc7Gu1W5HGkk9zA

Very nice presidential tweet, though those exact words been written before :-)

Plagiarism 

Yeah... But it's true, so why not?

Soon, 1 BTC will be the target of one's lifetime of hard work.

[Hueristic]

https://twitter.com/nayibbukele/status/1488018025223704583?s=20&t=TltCpaauc7Gu1W5HGkk9zA

Very nice presidential tweet, though those exact words been written before :-)

Plagiarism 

Twitter has zero originality.

[ChartBuddy]

Explanation

[ChartBuddy]

Explanation

[aesma]

Lets not be hypocritical. If you see fit to surround a country with enemy bases and nuclear missles, then that country will obviously respond accordingly.

The main issue is the meaning of "accordingly". The only example I can think of is the Cuban missile crisis. US had put missiles near the USSR, USSR put missiles on Cuba. Pretty fair. The conclusion also was, with both sides removing their missiles.

The problem with the current situation is that Russia is moving borders. I don't see the US doing that. Afghanistan was invaded 20 years ago, no part of that country is US territory now, obviously.

[shahzadafzal]

To whom it may concern... take a note guys!


https://twitter.com/Mandrik/status/1488000058226356229?s=20&t=TltCpaauc7Gu1W5HGkk9zA

[ChartBuddy]

Explanation

[LoyceV]

https://twitter.com/Mandrik/status/1488000058226356229?s=20&t=TltCpaauc7Gu1W5HGkk9zA

I'd be more impressed if they offer to pay tax returns in Bitcoin.

[ImThour]

BTC On-Chain Data for 31st Jan, 2022

Supply on Exchanges: Shows the total amount of BTC located in known exchange wallets.


Whale Transaction Count: Number of Transactions transferring more than 1M USD.


Active Addresses: Number of unique addresses involved in BTC transactions daily.


MVRV Long/Short Difference: For certain coins, this indicator tends to bottom at the lowest point of its bear market and peak at the top of its bull cycle.


MVRV Ratio: Shows the average profit or loss of all BTC holders based on the price when each token last moved.

[ChartBuddy]

Explanation

[El duderino_]

[heslo]

Just goes to show there's still a lot of dumb money flying around in crypto

[LoyceV]

Don't give it attention: don't read it, don't comment on it, and don't share it. Any attention leads to more people jumping the wagon hoping for a quick profit.

[ChartBuddy]

Explanation