The translation is more poetic then literal for obviously Odin is not named in the lines, but referred to as the Great Þul or Singer who paints the runes, and who sings them having gained them from the highest powers through sacrifice and great effort. This divine origin of the runes is echoed on the Noleby and Sparlösa stones, which also refer to "runes derived from the gods" and again in lines of the Hávamál in stanza 142:
80 Þat er þá reynt 'Tis readily found er þú at rúnum spyrr when the runes thou ask, inum reginkunnum made by mighty gods, þeim er gerðu ginnregin known to holy hosts, ok fáði fimbulþulr and dyed deep red by Óthin, þá hefir hann bazt ef hann þegir that it is wise to waste no words. Hávamál
Repeated twice, it becomes clear that the runes are a deep mystery and something to approach with awe and respect. They can be used against misfortune as Loddfáfnir is advised to do, but how? How do we learn the answers to the questions that Odin poses, or undertake to learn these ancient secrets born of the gods? What are the dangers? What are the rewards? These are among the secrets that Odin speaks of in the poem as he chants his magic songs and writes out the advice that speaks to us across the silence of centuries. "'Tis better unasked than offered overmuch; for ay doth a gift look for gain; 'tis better unasked than offered overmuch, thus did Othinn write..."
80 Rúnar munt þú finna Runes wilt thou find, ok ráðna stafi and rightly read, mjök stóra stafi of wondrous weight, mjök stinna stafi of mighty magic, er fáði fimbulþulr which that dyed the dread god ok gørðu ginnregin and which that made the holy hosts, ok reist Hroptr rögna and were etched by Odin. Hávamál