Michael Levin⚡️ Profile picture
May 24, 2021 11 tweets 8 min read Read on X
1/10: The events of this past week change nothing about the long term mission and potential of #Bitcoin . Stay calm, stack sats, and run your own node. I just built a node with @getumbrel. It was simple + straightforward.

A thread on how I did it 👇👇
2/10: First, I bought the materials necessary to construct a node using my @fold_app card (always be stacking). The list of materials is on the @getumbrel website. I was able to buy everything I needed on Amazon.
3/10: Next, I inserted the SSD into the Hard Drive Enclosure. I put the Raspberry Pi into its case and connected the Hard Drive to the Raspberry Pi. Insert SSD into Hard Drive EnclosureConnect the SSD and Raspberry Pi
4/10: Then, through the @getumbrel site, I downloaded the @getumbrel OS for Raspberry Pi and Balena Etcher to enable the flash of the OS onto the microSD, which will be inserted into the Raspberry Pi. Download Umbrel OSDownload Balena Etcher
5/10: I inserted my 32GB microSD card into a SD card reader and plugged it into my computer. Then, using Balena Etcher, I flashed the @getumbrel OS onto the microSD. It took <5 minutes. MicroSD into card reader which is then plugged into computerBalena Etcher used to flash microSDChoose 32GB microSD card as targetFlashing
6/10: Once the flash was complete, the card reader was auto-ejected. I removed the microSD and put it into the Raspberry Pi. I then plugged the power source and Ethernet cable into the Raspberry Pi. Plugging in the microSD with Umbrel OS Plugging in power cord and Ethernet cord
7/10: I plugged the whole setup in and connected the Ethernet cord to a wall Ethernet port. After waiting 5 minutes, I navigated to http://umbrel.local per the instructions on the @getumbrel website Plugged into power and ethernet
8/10: From there, I named my node, set up a password, copied down my key words, and then Bitcoin core started to sync. I was done with the physical setup in less than an hour. The full chain sync is still in progress. Syncing Bitcoin Core
9/10: It’s a magical feeling to realize that, with just a few hours and ~$200, anyone can take full control of their money. No permission needed. If #Bitcoin is freedom money, then running a node is the key to unlock oneself from the shackles of trusting third parties.
10/10: I encourage anyone who hodls #Bitcoin to run their own node. Stacking and hodling are only the first steps. Opt into a financial future that empowers the individual, not institutions, banks or governments. Run your own #Bitcoin node.
P.S. Here is the @BTCsessions video that I used to guide this process. Next up, I'll be going through the process of connecting a wallet to my node and working through the setup of some @lightning channels.

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More from @MichaelLevin

Nov 22, 2023
1/11: Lightning businesses should ensure ease of customer payment by maintaining quality, low-cost inbound #bitcoin liquidity.

The latest Lightning Terminal release introduces inbound liquidity reports to assist businesses in achieving this goal. terminal.lightning.engineering
Image
2/11: As a reminder, inbound liquidity refers to the ability of a node to receive Lightning payments. Inbound liquidity indicates the cost and ability for a customer to pay for services from the relevant business or node.
3/11: The Lightning Terminal liquidity report provides node operators with a quick, detailed view of their inbound liquidity. In Lightning Terminal, navigate to the Loop page and click on Liquidity Report on the top right side to view your node’s liquidity report.
Read 11 tweets
May 1, 2023
1/12: As we’ve heard from the Lightning community, monitoring your node's routing activity and adjusting channel fees manually can be difficult and time consuming. So, in the latest Lightning Terminal, we launched automagic fee management! 🤖terminal.lightning.engineering

A thread 🧵
2/12: Autofees automatically manages channel routing fees. To make fee decisions, Terminal uses the forwarded traffic of the top five earning channels over 60 days as a reference for the entire node (in order to determine a target throughput).
3/12: It will then look at the forwarded traffic from the past seven days for each channel and decide whether to adjust fees upwards or downwards. Each fee adjustment is made in small increments once every three days.
Read 12 tweets
May 4, 2022
1/8:🚨Opportunity to earn yield on Lightning Pool intensifies 🤑

Over the past month, Pool bid demand has been outpacing ask orders (median rates: 26% APY). There is a clear opportunity for node operators to earn yield on their sats through ask orders on Pool *right now*

🧵
2/8: First off, a Pool refresher, ask = open channel or sell inbound, bid = have channel opened to you or buy inbound liquidity. Buyer = Node operator that needs to receive funds over Lightning, Seller = Node operator that wants to earn yield, deploy capital on Lightning.
3/8: With Lightning Pool 🌊, buyers can lease inbound channels from Tier 1 nodes to get high quality inbound liquidity. And, sellers, who need to be Tier 1 ranked nodes, can lease out their LN Capital🌽 to earn yield and expand the LN graph📈
Read 8 tweets
Oct 26, 2021
1/13: 🚨 Alpha Leak ⚡️

If you run a ranked Lightning node on Terminal Web, you can earn yield on your #bitcoin in a non-custodial, trustless way while improving the Lightning Network *right now* through @lightning Pool 🌊

Time for a thread 🧵👇
2/13: Before we jump in, some quick definitions📖: Ask = open channel or sell inbound, Bid = have channel opened to you or buy inbound liquidity. Buyer = node operator that needs to receive funds over Lightning, Seller= Node operator that wants to allocate capital over Lightning
3/13: First off, on the seller opportunity, we see 5-8% APR on these channel leases 🤯 Plus, we expect demand for channel leases to increase rapidly 😉

If you’re a Tier 1 node (ranked on TW), you can and should explore earning yield on Pool by selling channel leases!
Read 15 tweets
Aug 26, 2021
1/14: Lightning⚡️Network developers are attracting users by solving problems in novel ways. Thus far, those solutions are mostly global micropayment based. But, what if consumer micropayments are just the tip of the spear for the Lightning Development Stack?

Time for a thread 🧵
2/14: Recently, I've been diving into Lightning Service Authentication Tokens (LSAT). I learn best by attempting to explain 🤓 Plus, this stuff is totally mind blowing 🤯 So, I'm sharing some thoughts..

Let's start from the beginning. Ever heard of the 402 HTTP Error Code?
3/14: HTTP uses status codes to communicate server responses to a client's requests. This allows for developers to consume APIs. One rare code is: 402 Payment Required, which was marked as reserved for future use. Seemingly, it was waiting for an internet-native global currency🤔
Read 15 tweets
May 27, 2021
1/13: In this post, the final of a 2 part series, I explain how #Bitcoin is rapidly approaching its ‘Crossing the Chasm’ moment and hypothesize that the @lightning Network is #Bitcoin’s Crossing the Chasm Superpower. 

A thread 👇🧵👇

michael-levin.medium.com/part-2-lightni…
2/13: Before diving into this new post, if you haven’t already, you should read Part 1: The Dual Adoption Curves of #Bitcoin as it provides some key context.
3/13: Over the next decade, #Bitcoin adoption will move from early adopters—>early majority. This moment for innovative technologies has been coined “crossing the chasm” by @geoffreyamoore. It’s the leap that any innovative technology makes from early adopters —> early majority Technology Adoption Curve w...
Read 14 tweets

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