Discover and read the best of Twitter Threads about #Lightning

Most recents (24)

The core tenant of #Bitcoin is that it is peer to peer, and you don't need to trust anyone.

Yet the #LightningNetwork requires trust from centralized governments and companies to function.
Here's why:

- To run a #LightningNetwork node, you need to have money to fund channels. Most of the world can't afford that.

- To get money on and off #lightning, you need to pay on-chain fees, that will scale over time. Most of the world can't afford that.
The consequences of these two problems are (most of the world) must rely on:

- Centralized, one-party governments (Like #elsalvador) or centralized companies (like #strike.)
Read 16 tweets
1. This thread is about why you should consider supporting my mission to the Central African Republic plus 6 additional African countries 🚀🌍
#Bitcoin #Lightning ⚡️ @Strike @CashApp
CashApp: $fodesdiop
strike.me/diopfode/
2. Africa’s time is now! When I was giving my keynote at this year’s @TheBitcoinConf, I could not in my wildest dreams, guess that we would see #Bitcoin as legal tender in a country within the Franc CFA zone 🤯
3. Yet, here we are only a few short weeks after the keynote, and it is a reality! #Bitcoin is legal tender in the Central African Republic 🚀
bitcoinmagazine.com/business/the-c…
Read 14 tweets
1/ I get often asked by people which #books they should read to get a good understanding of #crypto and #Bitcoin. While there are great books out there, the most striking book I read in the past months was about the #Lightning Network, namely “Mastering the Lightning Network”. Image
2/ Authors are @aantonop @roasbeef @renepickhardt. It is a very detailed book with more than 420 pages. This depth is necessary to truly understand how the Lightning Network works.
3/ Why is this book so great?

- It united both technical aspects as well as provides a general understanding of the Lighting Network
- It is a perfect fit for people that have a good understanding of Bitcoin and are #tech-savvy. But no worries: you don’t need to be a developer
Read 7 tweets
Glad to see some more nuanced discussion of privacy issues in #Lightning at #Bitcoin2022!

The keys are:

1) Receive privacy is poor
2) Routing cross-network makes privacy of channels poor
3) L1 privacy issues cascade onto L2 to great detrimental effect

invidious.sethforprivacy.com/watch?app=desk…
One of the biggest paradoxes of Lightning is that cross-network routing *requires* public knowledge of nodes, channels, and channel UTXOs/balances, but LN is being relied upon to "fix" all of the privacy issues of L1.

These problems are not easy to solve, maybe impossible.
If you reduce the information available about nodes/channels/UTXOs, you necessarily exacerbate an already serious issue -- routing payments gets much harder or even impossible without routing hubs.

Do you want to "easily" route payments, or do you want privacy?
Read 13 tweets
1/ #LAYER2ROUNDUP: Welcome to the latest thread of our monthly series on Lightning and Liquid. What you missed:

⚡️ LN capacity at all-time highs, up 200% yoy
🌇 #LightningHackdayIST
🔖 New research from @vulpemventures
⛏️ BMN on @BFXSecurities

and much more👇🧐
2/ #Bitcoin capacity for both the @Liquid_BTC and #LightningNetwork continues to steadily rise with year-over-year growth LQ ~25% / LN ~200%, respectively. 🌊⚡️
3/ With an estimated limit of 500 TPS per channel, the #LightningNetwork has a throughput of more than 40 million TPS based on the number of channels today (the equivalent of 14.4 TB size blocks), enabling it to become the global payment layer of the #Bitcoin circular economy.
Read 12 tweets
오늘 새벽, 미국 바이든 대통령이 발표한 러시아 제재방안에서 결국 SWIFT 망 활용안은 빠지게 된것 같습니다. 바이든 대통령은 SWIFT 망에서 러시아를 퇴출시킬 것을 주장했으나 유럽쪽 리더들이 반대하며 이견을 보였다고 하는군요. 도대체 왜일까요? 🧵
SWIFT는 ‘Society for Worldwide Interbank Financial Telecommunication’의 약자로 텔렉스(Telex)를 대체하기 위해 1970년대에 만들어졌습니다. 미국의 Fed, 유럽의 ECB, 일본의 Bank of Japan 등 중앙은행들에 의해 관리되며 현재 200여개 국가의 11,000개 은행, 기관, 기업들이 사용중입니다. /2
SWIFT는 직접 돈이 이동하는 망은 아니지만 굉장히 중요한 커뮤니케이션 채널입니다. 쉽게 말하면 은행들끼리 쓰는 카카오톡 메신저, 또는 지메일 이라고 생각하면 됩니다. 매일 평균 4200만 건의 트래픽이 발생하며 트랜잭션 주문, 체결, 외화 환전 등 온갖 종류의 메세지들이 교환됩니다. /3
Read 18 tweets
#Bitcoin Privacy Spending Cycle.

Inspired by the "wasabi demixed" on the Bitfinex hack.

Little 🧵 trying to increase privacy footprint of our sats.

I'd like to know the opinion of @stephanlivera and @ODELL about this method: Image
1st - get custody of your coins.
Withdraw from exchanges if you bought KYC sats.

2on - Create a #Lightning wallet and top it up with those sats. (eg: @bluewalletio @SimpleBtcWallet )
Read 6 tweets
1\ #Ethereum e a maioria das outras #altcoins rodam em uma estrutura de rede predominantemente da Amazon porque as "funcionalidades" adicionais requerem muito mais poder de processamento.

Por que isso é um grande risco na realidade de hoje?

A thread🧵⬇️ Image
2\O mkt da maioria das criptos depende de enfatizar como a #blockchain deles é melhor, mais rápida e mais versátil que a do #Bitcoin

99% desses projetos miram uma audiência newbie que não entende que a utilidade aparentemente limitada do Bitcoin é uma funcionalidade e não um bug
3\ Isso porque o marketing altamente eficaz dos VCs evita apontar que as funcionalidades avançadas que eles estão promovendo, a maneira como esses projetos recebem dinheiro e são criados implicam grande centralização de estrutura e governança.
Read 26 tweets
It’s ready! V2 of the #Bitcoin Design Guide covers the Lightning Network. Design better #Lightning products faster with our free and open-source community-made handbook. 🧵⬇️

bitcoin.design/guide/
We launched V1 of the Guide in June 2021. It collected principles and techniques for building better #bitcoin products — all non-custodial, of course. 😉

bitcoindesign.medium.com/2669f610ebc7
For V2, we refocused the Guide on the #LightningNetwork. Let’s get your users connected to Lightning! ⚡️📲
Read 10 tweets
So the #Lightning node migration concluded. Well, almost - it's a bit like when you're building a house. You never get finished. But critical and some good-to-have things are done.
Here I am sharing some details and approaches I have taken, so you can lean on if you want
Objective: Moving off my 8GB RaspiPi running with @getumbrel to better hardware and barebone node with Bitcoin and Lightning compiled myself.
If you really want to understand what's going on, need to get your hands dirty
Hardware Specs:
Intel NUC Barebone NUC11TNHi5 Tiger Canyon i5 NUC Kit Tall
2 x 250gb NVM
- 250GB Samsung 980 Pro M.2 PCIe 4.0 3D-NAND TLC
- soon complemented with another B-bay 250GB SSD
- 1TB Crucial MX500 2.5" (6.4cm) SATA 6Gb/s 3D-NAND TLC
- 16GB (1x 16GB) Crucial DDR4-3200
Read 21 tweets
1/ #LAYER2ROUNDUP: In Jan, both protocols had a slew of big announcements:

🌋 #BitcoinBond update
🥕 #Taproot on @Liquid_BTC
🏛 New #LiquidFederation members
🇦🇷 @ln_strike launches in Argentina
⚡️ Anniversary of the #LightningNetwork whitepaper

Let's review and more👇🧐
2/ Network capacity for both the @Liquid_BTC and #LightningNetwork continued to expand, LQ (3,528) / LN (3,399), reaching new highs for a combined capacity of 6,927 #Bitcoin.

Year-over-year, network capacity has grown LQ 25% / LN 290%, respectively. 🌊⚡️
3/ On the eve of the #LightningNetwork whitepaper's sixth anniversary, @jackmallers announced the Lightning-powered app @ln_strike was to begin rolling out in Argentina, one of many Latin American nations battling inflation and economic uncertainty.

btctimes.com/news/bitcoin-l…
Read 18 tweets
For months people have voiced concerns around #PLEBNET’s privacy infringing practices. Since all concerns have been downplayed as FUD, here’s an in-depth data analysis instead. A mega thread
#PLEBNET encourages the use of the Telegram bot #CheeseRobot in order to create pretty graphs of connectivity. For example, we all know this pretty graph of which #PLEBNET is extremely proud.
Unfortunately #CheeseRobot saves all graphs, userIDs, GroupIDs and NodeIDs on a database which is not „internal“, as claimed by the #PLEBNET wiki, but *public*; This allowed us to make some pretty graphs of our own.
Read 20 tweets
"What tech stack are you using to build a #Bitcoin economy in a #SouthAfrican #township?"

Well, to be perfectly honest, it's not very technical. Not at all.

We risk embarrassing ourselves by describing it, but fortunately we're all here to learn.

So let's dive in!
🧵 👇
First off, as the co-founder of both this project and it's parent organization, @the_surfer_kids, my #Bitcoin education is pretty much comprised of reading @BitcoinMagazine since mid 2013. But I've never been super technical.

My personal interest has always been human-nature. Image
I run my own full node on an old laptop with @ubuntu and @bitcoincoreorg. I've also played around with a @COLDCARDwallet and setting up full nodes using @getumbrel and @mynodebtc.

But that's it. I'm not a developer. Not at all. And for now, I'm the 'expert-lead' on our team. 🤣
Read 16 tweets
While #Bitcoin dips below $40,000

Let's take a look what happened in 2021 building the momentum and foundation for #Bitcoin to continue it's bullish run in 2022 🧵

▪️ El Salvador made #Bitcoin legal tender
▪️ #Bitcoin all time high $69,000
▪️ @Blockstream and @bitfinex helped El Salvador offer $1 bil #Bitcoin bond and build #Bitcoin City
▪️ Amazon looking into cryptocurrency payments
▪️ @Twitter introduced #Bitcoin tipping
▪️ 56% of #Bitcoin mining reportedly renewable
▪️ Segwit adoption passed 80%
▪️ Hashrate hit a new high high of 195 EHs after China ban
▪️ McDonalds, Starbucks etc all accepting #Bitcoin Lightning in El Salvador
▪️ MercadoLibre, Brazils biggest ecommerce platform will soon allow buy/sell/hold #Bitcoin via their app
Read 25 tweets
💸 Comprar, vender, enviar cripto...

Al momento de interactuar con tu saldo en belo es importante que tengas toda la información para no cometer errores ni pagar de más 👌

🧵 Te acercamos 5 puntos a tener en cuenta
1⃣ Las transferencias cripto son irreversibles ⚠️

La naturaleza de las criptomonedas es la descentralización. No hay autoridad o árbitro a quien podamos reclamar una devolución o reversión de las transacciones 🤷‍♂️
Siempre que realices un envío de saldos #cripto a otra billetera, tomate el tiempo de chequear los datos previamente 📄

Una vez confirmado, no habrá vuelta atrás, y en caso de confundir una dirección, esos fondos no podrán recuperarse 🙃
Read 10 tweets
1 | So you've heard of the #LightningNetwork... now you want to see real applications of it in practice.

Fair enough. Here are 14 examples of amazing products being built on Lightning right now.

Read on to see why #Bitcoin’s Layer 2 is the next big thing in finance & tech:
2 | First, a quick thanks!

Much of this info comes from the folks at @lightning and their packed December newsletter, as well as lots of time on Twitter (essentials: @therealkingonly, @RyanTheGentry and @starkness, @MaxAWebster, and @kerooke).

And so many terrific podcasts.
3 | The single best thing I've read on the #LightningNetwork is @MaxAWebster's post:
Why Lightning, Why Now.

If you're curious at all about Bitcoin or Lightning, go read it right now.

Or visit his Twitter for the thread.

Now on to the examples!

hivemind.vc/why-lightning-…
Read 16 tweets
1A día de hoy ¿cuál dirían que es el caza ligero por excelencia? ¿El F-16? ¿El Gripen? ¿Y si hablamos de un aparato que era la mitad de la mitad?

Para mí, este es el caza ligero por excelencia, una pequeña historia del Folland #Gnat (y su hermanastro indio HAL #Ajeet)
2El padre de la criatura era el ingeniero William Edward Willoughby "Teddy" Petter, quien había trabajado previamente en numerosas aeronaves de la firma Westland, como el #Lysander, el #Whirlwind o el #Welkin Image
3incluso trabajó en el proyecto para mejorar el #Spitfire corrigiendo cierta inestabilidad del diseño original

Tras ciertas desavenencias con la dirección de @westland, en septiembre de 1944, Peter se despidió y se llevó consigo los trabajos para la propuesta B1/44 Image
Read 110 tweets
Daily Bookmarks to GAVNet 12/27/2021 greeneracresvaluenetwork.wordpress.com/2021/12/27/dai…
To Understand Our Future on Earth, Look to the Laws That Govern Nature

nytimes.com/2021/12/09/boo…

#NaturalHistory, #ecology, #ClimateChange, #consequences, #BookReview
Read 16 tweets
Community #AMA session on Twitter with @XSNofficial #Stakenet #XSN

Let's start sharing the official media and some Introduction about Stakenet

Website: stakenet.io
Twitter: twitter.com/XSNofficial
Medium: medium.com/stakenet
Discord: discord.gg/HvTqyumHKn
▶️INTRO

#Stakenet is combining Layer 2 protocols (#Bitcoin #Lightning Network and @ConnextNetwork #Connext, interoperability protocol of L2 #Ethereum #ETH) to allow practically instant, feeless #CROSSCHAIN swaps backed by the Stakenet #blockchain and powered by its nodes.
Furthermore, they are focused on enabling connectivity between #Lightning Network, #Masternode networks, and decentralized applications (#dApps).
Read 106 tweets
I've been using @SimpleBtcWallet for a couple of weeks now

+ full mobile #lightning node and #bitcoin wallet
+ coin control
+ pay to lightning address
+ connect your own electrum node
+ hardware wallet support

Here is how to set it up fully non-custodially.

🧵1/8 Image
2/8 Download from F-Droid:
f-droid.org/en/packages/co…

or from GitHub:
github.com/btcontract/wal…

or the Google Play Store:
play.google.com/store/apps/det…
3/8 Create a new wallet. Make sure to write down your wallet recovery phrase (so you can recover the wallet if you lose your phone). Once the wallet is created click "receive" to get on-chain #bitcoin to your wallet from your original wallet. ImageImageImage
Read 9 tweets
It's 12:30am, it's been a huge day of #Linux/#Bitcoin troubleshooting; let me share so you don't have to go through the same pain...
I was following @_k3tan 's guide to run Bitcoin on a Linux desktop computer. I bought a cheap $150 refurbished Compaq desktop and it's awesome for this.

It will be my workhorse #Bitcoin and #Lightning Node, enough of the #RaspberryPi, I'm stepping up...
Installed Bitcoin Core, easy peasy.

Setting up systemctl bitcoind.service to make Bitcoind start on bootup - learned a lot.

I have an external SSD drive, so lots of modifications were needed to the standard instructions...
Read 12 tweets
En los últimos meses se viene hablando cada vez más de Lightning Network ⚡

¡Afortunadamente! Con micropagos instantáneos y a costo ínfimo, el desarrollo de LN permite abrir las puertas a una nueva dimensión en la historia de #bitcoin: su masificación.

¿De qué se trata? 👇👇
Un problema a resolver: la falta de escalabilidad ⏫

Es posible que hayas escuchado alguna vez que la capacidad de procesar transacciones de la cadena de bloques de #Bitcoin es limitada. Bitcoin se caracteriza por seguridad y descentralización, pero encuentra otros desafíos 🤔
Si queremos que #bitcoin haga una transición y pueda usarse en los intercambios de todos los días, hay que buscar algún mecanismo para lograr escalabilidad ⚡️
Read 23 tweets
¿Sos hincha del #bitcoin?

Si te hacés llamar uno de ellos, probablemente te interese instalar tu propio nodo.

🤔¿En qué consiste? ¿Es algo simple? ¿Qué necesito?

Sale breve hilo para que puedas entender de qué se trata e instalar el tuyo de la forma más simple 👇
Para empezar, arranquemos por lo básico:

👉¿Qué es un nodo?

Bitcoin no reside en un sólo lugar, sino en cada uno de los nodos que componen la red 🌐

Distinto a las apps tradicionales, Bitcoin no depende de un único servidor. Su naturaleza es descentralizada.
Un nodo es un programa que valida las transacciones y los bloques de la red de Bitcoin. Aloja y sincroniza una copia de toooooda la blockchain ⛓️

A mayor cantidad de nodos, mayor es la descentralización con que cuenta la red, y por ende la solidez, transparencia y seguridad 🛡️
Read 16 tweets

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