ryanthegentry

Building 402index.io and golem

Public Key

npub1uatf9mr3za8xnr0370gl2acc2k7vfeh9dpyf6t426jyasyry4nnqe7n24e

NIP-05 Address

Profile Code

nprofile1qqsww45ja3c3wnnf3hcl8504wuv9t0xyumjksjya964dfzwczpj2eesprpmhxue69uhhyetvv9ujuumwdae8gtnnda3kjctvqy28wumn8ghj7un9d3shjtnyv9kh2uewd9hszrthwden5te0dehhxtnvdakqxyav9u

Publishing to

relay.snort.social

relay.damus.io

nos.lol

Author Public Key

npub1uatf9mr3za8xnr0370gl2acc2k7vfeh9dpyf6t426jyasyry4nnqe7n24e

Show more details

Last Notes

2024-02-21 18:35:52 UTC

- reply

Discord is the perfect first app, congrats!

2023-12-08 21:53:47 UTC

Pretty excited about this presentation from @npub1cd0…xlvx! Have been thinking about The Bitcoin Stack for a while, and been really excited about nostr being the user/communications layer living on top of the LN layer for payments and the BTC layer for money/settlement for the last year… but this talk crystallizes specifically what use case The Bitcoin Stack is uniquely excellent at: Everyone Payments! Pumped to see prisms progress 🤙
h/t @npub18lz…ugm3 for the nudge to watch the talk :)
My earlier attempts at a Bitcoin Stack visualization… @npub1cd0…xlvx's is much better lol 🙃 https://image.nostr.build/42915498075860373331cac882544f3b9000d38f0086383591bd3988bc98826c.png https://image.nostr.build/f6e6c459142ecefcf0842a3be1f2af2c4fecf166631e9ddc0c8166b093497ba0.png #note16ks…wa2x

2023-10-03 19:44:04 UTC

Be like @npub1dxs…n4st, hack the planet!! #note1fqe…s59l

2023-10-03 18:52:48 UTC

LND v0.17 is here!!! Simple Taproot Channels have officially arrived 🥕🥕🥕 (and finally some SQL goodies which might be even more important iykyk)
https://github.com/lightningnetwork/lnd/blob/master/docs/release-notes/release-notes-0.17.0.md

2023-10-02 15:08:19 UTC

Gm. The most important quality of the Lightning Network is the permissionless nature of running a routing node, because that creates constant downward market pressure on routing fees. Permissionless means that ANYBODY can set up the software and start forwarding payments (including AI agents 👀).
Can we measure how well supporting permissionless node operations is going? Kind of! The Terminal list from Lightning Labs ranks the routing node market in terms of outbound liquidity, or how much capacity each node has to send payments. By my count, 80 of the top 100 nodes on the list are run by plebs, with only 20 associated with well-known businesses. That’s pretty great imo, let’s keep it up!
As long as we ensure that running a routing node is permissionless, and we keep increasing LN’s network effects, we are going to win! ⚡️
https://terminal.lightning.engineering

2023-05-17 01:29:41 UTC

- reply

luke skywalker nooooooooo dot gif

2023-04-28 16:21:59 UTC

- reply

I do it for the 6.15 BTC Satoshi promises is waiting for me in the afterlife 🙌

2023-04-25 22:13:58 UTC

iykyk #vanity
https://primal.net/ryanthegentry

2023-04-13 15:08:21 UTC

#mandibles 😬
https://twitter.com/kanthan2030/status/1646528845309440006

2023-04-05 14:23:36 UTC

- reply

Congratulations y’all!!! ATX represent 😤😤

2023-04-04 23:38:29 UTC

- reply

Afk but can check later. What default would you consider proper?

2023-04-04 22:50:46 UTC

- reply

Lnd allows you to set both max_value_in_flight and remote_max_value_in_flight_msat per channel. Is that what you’re talking about? Both set “the maximum amount of coins in millisatoshis that can be pending in this channel.”

2023-03-29 17:31:45 UTC

LND 0.16 is officially here, upgrade today!
https://lightning.engineering/posts/2023-03-29-lnd-0.16-launch/

2023-03-27 14:07:15 UTC

- reply

Pls gib ☠️

2023-03-23 18:23:43 UTC

- reply

🤣☠️

2023-03-22 14:28:57 UTC

- reply

It’s (gonna be) raining sats, hallelujah!

2023-03-22 01:12:31 UTC

The WSJ wants Zaps, they just don’t know it yet ⚡️
https://www.wsj.com/articles/algorithms-ai-humanity-psychology-ebf1364c
https://nostr.build/i/nostr.build_d02489d0806216f3e6dbba9ce8d8dc42d3d38cdca67909c20fcd6bd2810296c9.jpg

2023-03-21 16:53:09 UTC

- reply

It’s also a confusion of product and protocol prios. Protocol should be designed for the zero trust, highest stakes sovereign individual as a first class citizen. That’s what keeps things permissionless and decentralized, ensuring free market economic incentives. Holds true at the bitcoin layer and the LN layer.
If you’re designing product for low trust, zero stakes sovereign individuals otoh, good luck 😅 small, tough market! Much better to meet high trust, low stakes, large user cohorts where they are and provide a convenient abstraction over the raw protocol.

2023-03-21 13:40:32 UTC

- reply

So when a channel depletes, the receiver should splice out and the liquidity provider should JIT splice in, incurring two on-chain txs? That seems coordination-heavy and expensive, I guess best case a 2 input (splice in + og channel) 2 output (splice out + new channel) with some musig coop magic? Sub swaps are just 1 in 1 out in the best case, no cooperation with peer necessary.
Re hot potato, kind of but there’s additional nuance imo. If you’re paying routing fees your tx is an economically viable one is my book, same as on-chain 🤷‍♂️ What keeps LN from being zero sum today is 1) new entrants opening new channels adding liquidity to the network and 2) sub swap providers facilitating liquidity exiting the network while leaving channels open. Activity might not be perfectly economically rational, but it’s significantly improved over the last several years and trending very positively imo.
I think a worse outcome long term than lost money from a mass exit attack would be node operators locking down the permissionlessness of new channel peers. That would be very sad and harmful to the incentives of the network. So please don’t do it to make a point, lol!

2023-03-21 12:38:08 UTC

- reply

Correct me if I’m wrong, but in my mind the mass exit attacker controls one or several routing nodes. During a full mempool, the attacker closes channels with bad states paying themself all the money in the channels, and prevents counterparties from publishing justice txs, right? So they claim all the funds in all the closed channels, regardless of prior inbound/outbound balance of each channel.
This attack is maximally effective theft-wise if the prior state of all channels is 100% inbound to the attacker, as they’ll go from having a claim on 0% of funds, to owning on-chain 100% of funds. This attack is minimally effective theft-wise if the prior state of all channels is 100% outbound from the attacker, as they’ll go from having a claim on 100% of funds to owning on-chain 100% of funds. So honest nodes can mitigate the damage from such an attack (and collectively lower the potential returns to an attacker) by consistently Looping out received funds from their local balance and realizing them on-chain.
I don’t necessarily consider that “hot potato,” with fees so low it makes sense for funds in LN to be high velocity! For this scenario, I always use the comparison to old timey brick and mortar merchants and their cash registers. During the day, the register fills up with cash. At the end of the day, to avoid theft, the proprietor would physically take their cash to the bank for safekeeping, and leave an empty register in their store. With bitcoin, you ofc can be your own bank by owning funds on-chain, so instead of taking cash to a 3rd party you can just send funds received on LN to an on-chain address you control. Loop or submarine swaps more generally help you do that without closing channels, to reward your liquidity providing peers for their service.

2023-03-21 03:21:50 UTC

- reply

Yeah true. Maybe we just got lucky that amounts were too small in LN while security was bad, that juicier targets existed while amounts increased, and now there’s pretty good remote signer stuff across different implementations to help mitigate 🤷‍♂️

2023-03-21 00:42:47 UTC

- reply

🎤💧

2023-03-15 17:07:31 UTC

- reply

Relevant: https://twitter.com/xiaowang1984/status/1634745335099666433

2023-03-10 14:15:14 UTC

Feeling very comfy with my BTC in self-custodied cold storage this morning. Too much chaos in the world today to trust a third party with custody of your wealth.

2023-02-27 19:36:44 UTC

- reply

More to come on this soon ™️

2023-02-20 20:26:47 UTC

- reply

Well from looking at NIP-11 idk if a given user’s “paid” status is even discoverable by the client. Seems like rn it’s kinda honor code “give relay your npub, pay invoice, relay promises to store your events and serve you new events” which is fine, but should relays have a public index of which npubs have paid to make it less trusted?

2023-02-20 20:09:33 UTC

What’s a good paid relay to test out? I’m already connected to Eden

2023-01-10 15:32:31 UTC

- reply

Web Enabled Freedom has a ring to it too