Author: The Count

  • How to Migrate an Umbrel LND Node without Closing Channels

    If you already have a Bitcoin node with a lot of Lightning Network channels, it can be expensive to close and reopen them, especially when you consider the cost of rebalancing to restore the channel’s balance from your old node. When migrating a Lightning node to different hardware, there are risks to consider, primarily ensuring […]

  • How to replace your own bitcoin transaction and send to a different address

    If you recently broadcasted a Bitcoin transaction and it is still unconfirmed, it is possible to replace it by broadcasting a second transaction that spends the same inputs at a higher fee. The bumpfee command is used to increase the fee of an existing transaction. However, it is possible to use the bumpfee command to […]

  • Finite Fields

    Finite fields are the mathematical concept underlying elliptic curves which are used heavily in cryptography. A finite field is a finite set of numbers and operations that satisfy 5 properties. Let us define a finite field of order p as follows: The set must meet these properties to be considered a finite field. Closed Property […]

  • The Best Bitcoin Songs

    Bitcoin – Captain Youth Bitcoin – Soulja Boy Bitcoin Beezy Bitcoin All the Way Up Welcome to the Blockchain Love You Like a Bitcoin 10’000 Bitcoins – Laura Saggers – Original Music Video Ode to Satoshi Not This Time (The Bitcoin Obituaries Song) Zhou Tonged – Holding (Billy Joel – The Longest Time) Bitcoin Girl […]

  • How I set up my fees on c-otto.de

    The following article was published behind a paywall on yalls.org. Please support the author by buying access to the post. The author is Carston Otto. Information wants to be free. Paywalls set the price for liberation. I run the node c-otto.de (Amboss), which currently provides more than 19 BTC in 238 channels. My node forwards several thousand […]

  • What are the incentives around on-chain fees in the Lightning Network?

    The lightning network is a layer 2 scaling solution for Bitcoin. As such, the infrastructure of the network is grounded in layer 1 where fees are critical to assuring transaction settlement. In this article we will explore the incentives around on-chain fees in Bitcoin’s Lightning Network. Fees Encourage Use and Growth The lightning network was […]

  • What is the difference between MPP and AMP payment splitting?

    Routing and pathfinding on the Lightning Network is a rapidly evolving area of research. The topology of the network allows for payments to be sent peer-to-peer over connected channels where liquidity can flow. In this article, we’ll cover the differences between Multi-part Payments (MPP) and Atomic Multi-part Payments (AMP). To understand the differences, let’s first […]

  • How to add Redundancy to your Lightning Node

    In this guide you will learn how to add redundancy to your lightning network node. Since we’re just talking about hardware, many of these principals also apply to the fields of server administration and IT generally. Redundancy is not the same as backups. Backups, redundancy and watchtowers, as well as good security and privacy practice […]

  • What’s the difference between a MAC and an HMAC?

    A message authentication code (MAC) is produced from a message and a secret key by a MAC algorithm. The MAC algorithm is a one-way function. This means it’s impossible to decode the secret from the MAC. This also means that a MAC using the same message and a different secret will look completely different. Why are MACs […]

  • Why is it difficult to cancel a Bitcoin transaction?

    Bitcoin offers the highest assurance of transaction finality of any asset known today. It is impossible to undo a transaction with multiple confirmations. However, it can take weeks or even months for a broadcast transaction to confirm if it is not sent with a competitive fee. A signed and broadcast transaction quickly replicates in the […]