Given that God is all-powerful (omnipotent), all-knowing (omniscient), and everywhere (omnipresent) by definition, there are three possible conclusions:
1) God is evil - He created Lucifer, knowing he was going to go Satan on the world resulting in all the pain and suffering that goes along with it, merely for God's enjoyment and fascination. (Think of someone pointing a magnifying glass towards an anthill)
2) God is apathetic to evil/good - Like #1, he created Lucifer, had the power to stop/change it, but it simply didn't matter to him the consequences of his action/inaction.
3) The Christian definition is wrong or ill-defined. (Bad choice of words perhaps)
Obviously, most Christians aren't going to like any of these three conclusions. And I personally refuse to believe in a God who is evil or apathetic to evil. So I'm inclined to explore the possibility that perhaps the definition of God (the 3 omnis), might need to be better refined.
How does one reconcile these conclusions?
I realize this might not sit well with some readers which may result in downvotes. I am honestly not trying to be antagonistic or argumentative. Rather, this is truly a longstanding conundrum in my mind that I've been unable to find a satisfactory answer. The few people I've asked have said they would have to think about it and get back with me (then the topic kind of fizzles away).
I'm fairly well-versed in the teachings of the Bible. Born & raised in a conservative evangelical home (Wesleyan school of thought), graduated from a conservative Christian college, etc. I don't say all this to try and show how righteous I am (I'm certainly not), but to let you know you don't have start from Christianity-101-John 3:16-type of explanations to "get me up to speed".