One node's expense is another node's revenue. Instant payments aren't free! I don't know what you spent those sats for but thanks for your donation to the network/ecosystem!
if you do not provide a service, running a lightning node is complete bullshit.
Agreed 100% -- a node could also be a personal service.
The fee management I automated. Peer disovery for channel creation as well, with some manual intervention.
Be careful of pre-mature automation. It sounds like you haven't figured out how to run a useful node yet, so what exactly are you automating?
us "routing nodes", nobody really needs.
Empirically false. The network needs useful routing nodes, otherwise LN would not scale because everyone would need a direct channel.
But that 1 BTC scared me, as it's not that I'm some OG or whatever who has many Bitcoin, I just read everywhere that starting below that is almost useless. I'm here to tell you that even with 1 BTC, you will get absolutely nothing.
Running a node has a lot in common with a business. Let me rephrase your sentiment and you'll see how absurd it sounds:
"Deploying that $10M scared me, I'm not rich, i just read everywhere that you need $10M to start a business, or else its not worth trying. I'm here to tell you that even with $10M, your business will fail"
NOBODY needs my node. All I can do is bend over and offer lower fees
To whom are you offering lower fees exactly? Sounds like you don't have customers for your liquidity in the first place. Try selling liquidity that people actually want instead, then you'll have the opposite problem -> raising fees so you don't run out of liquidity too fast.
You either get the routes or you don't.
Yes, but channels go offline sometimes. Even for the big nodes. Splices/swaps and new channels take time to confirm. In this downtime, small nodes can capitalize (assuming their liquidity is actually in demand and prices competitively )
A race to the bottom.
Sure, but nodes aren't running very fast toward the bottom... In other words, the race can go for a long time.
but I'm pretty sure it is IMPOSSIBLE to beat the fees you pay for something like Phoenix that has zero headaches, a nice UI and no additional work involved.
You can easily beat pheonix on fees by running your own node. Yes there is work involved..
The be your own bank dream has popped in my opinion.
Nobody is forcing you to be your own bank. You can do other things with your life. Others will probably get really good at self-banking on Lightning. And that's ok too!
One node's expense is another node's revenue. Instant payments aren't free! I don't know what you spent those sats for but thanks for your donation to the network/ecosystem!
Agreed 100% -- a node could also be a personal service.
Be careful of pre-mature automation. It sounds like you haven't figured out how to run a useful node yet, so what exactly are you automating?
Empirically false. The network needs useful routing nodes, otherwise LN would not scale because everyone would need a direct channel.
Running a node has a lot in common with a business. Let me rephrase your sentiment and you'll see how absurd it sounds:
"Deploying that $10M scared me, I'm not rich, i just read everywhere that you need $10M to start a business, or else its not worth trying. I'm here to tell you that even with $10M, your business will fail"
To whom are you offering lower fees exactly? Sounds like you don't have customers for your liquidity in the first place. Try selling liquidity that people actually want instead, then you'll have the opposite problem -> raising fees so you don't run out of liquidity too fast.
Yes, but channels go offline sometimes. Even for the big nodes. Splices/swaps and new channels take time to confirm. In this downtime, small nodes can capitalize (assuming their liquidity is actually in demand and prices competitively )
Sure, but nodes aren't running very fast toward the bottom... In other words, the race can go for a long time.
You can easily beat pheonix on fees by running your own node. Yes there is work involved..
Nobody is forcing you to be your own bank. You can do other things with your life.
Others will probably get really good at self-banking on Lightning. And that's ok too!