CD47: the future of bitcoin nodes and the nodlito with @ketominer and @IAskuwheteau
Dec 7, 2021
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Guests KetoMiner and AskGru discuss the future of Bitcoin nodes, Nautil's new Nautilito, Bitcoin City and Bitcoin Bonds in El Salvador, integration of on-chain and mobile wallets for businesses in emerging markets, building and selling Bitcoin nodes, the need for infrastructure and backups in the Bitcoin world, and a compilation of phrases and names resembling song lyrics.
The Nautilito is a low-cost device designed for merchants to accept Bitcoin payments, offering a more affordable option compared to previous Nautil devices.
The Nautilito can be easily integrated with mobile apps like Zeus to generate invoices, making it a practical solution for small merchants seeking to adopt Bitcoin payments.
Nautil aims to provide professional-grade infrastructure and services through Nautil Cloud, catering to the growing demand for reliable Bitcoin payment solutions without the need for users to host their own nodes.
Deep dives
The Nautilito: A Low-Cost Lightning Node Device
The Nautilito is a new, low-cost device developed by Nautil that runs lightning locally for merchants. It is designed for small businesses and individuals who want to receive Bitcoin payments. The device, equipped with LND and functionalities like invoice generation, operates either via Wi-Fi or Ethernet. It does not run Bitcoin Core or BTC Pay, which are handled by Nautil's cloud infrastructure. The Nautilito offers a more affordable option compared to previous Nautil devices, making it accessible to a wider range of users.
Nautilito as a Merchant Payment Solution
The Nautilito is specifically designed for merchants who want to accept Bitcoin payments. It can be easily integrated with mobile apps like Zeus to generate invoices, allowing physical businesses to accept both lightning and on-chain payments. The Nautilito is a plug-and-play device, requiring no technical expertise to set up and use. While it is not recommended for high-volume routing as a full node, its simplicity and affordability make it a practical solution for small merchants seeking to adopt Bitcoin payments.
Nautil Cloud and Future Business Models
Nautil's cloud infrastructure, known as Nautil Cloud, supports the Nautilito's functionalities, including lightning transaction management, channel liquidity, and high availability of services. The precise business model for Nautil Cloud is yet to be finalized, with considerations of subsidized devices, subscription plans, or bundled services. Nautil aims to provide professional-grade infrastructure and services for users who prefer not to host their own nodes, catering to the growing demand for reliable Bitcoin payment solutions.
Overview of Notable Devices and Supply Chain Issues
The podcast episode discusses the various devices offered by NODL, including the NODL1, NODLDojo, and the new NODLLite. While previous devices catered to enthusiasts, the NODLLite is positioned as a more mainstream product. The episode also addresses supply chain issues, specifically slow wage and unpredictable pricing, which NODL is actively working to solve through increased testing and component purchasing.
NODLLite and Inbound Liquidity Management
The episode highlights the NODLLite's use of new Trino, an open standard for connecting to a lightweight Bitcoin node running inside LND. By sending compact filters instead of full blocks, the NODLLite reduces bandwidth usage. To address the liquidity hurdle for sovereign lightning merchants, NODL plans to manage inbound liquidity for users who purchase the NODLLite, ensuring their channels have sufficient liquidity through opening new channels or rebalancing as needed.
TOPICS: the future of bitcoin nodes, nodlito, cloud services, tradeoffs, el salvador, custodial wallets, hardware failures, mesh nets, onboarding merchants in the developing world
