Discover and read the best of Twitter Threads about #LightningNetwork

Most recents (24)

Organizers said no photos of the Hayes vs Roubini debate so I’ll use this stock photo of Nouriel. #ABS2019 @aba_summit
@CryptoHayes: I don’t even want to call you professsor.
Roubini: He’s just making money off of retail suckers.
Read 28 tweets
Yoo! Wazzup plebs? I know, I know... Warren Buffet is a sucker.. But fuck him, it's #BitcoinMonday again!
Issue #3

Let's goo 🎉
Talking about price, last couple of weeks were quite interesting to watch. But when it comes to #BitcoinTwitter, things are kinda quiet.

In fact, tweets about bitcoin are at their 5 year all time low.
Maybe BT is quiet, but on the streets things are looking much better than 5 years ago. And this fantastic read by @CremeDeLaCrypto shows us just that. Bitcoin is a demographic gigameg! 💪💪
Read 21 tweets
This book is so damn good.
I'm now re-reading it for the third time!
@NSKinsella has changed my fundamental economical and moral axiom, and he has started me down a new rabbit hole which culminates in my Bachelor's thesis.

THANK YOU, Stephan!…
Here my thesis on
non-simulated shared ownership of scarce #Bitcoin with multi signatues in the #lightningnetwork.

If you've read Stephan's book, then you understand the ground breaking innovation of multisig described in my title. :)…
Many say that #Bitcoin is scarce because there are only 21 million.
This is wrong.
The quantity of a good has nothing to do with the binary attribute of scarcity.

This is the perfect explanation of scarcity:
"The very possibility of conflict over a resource renders it scarce."
Read 9 tweets
Can someone who loves #LightningNetwork tell me why I can't use a network scanner, find a security hole, gain access to this IP, and re-route funds? If I can do enough recon on this IP, maybe get some keylogs or intercept your 2FA, a $184k payout seems worth the effort to me.
This is a sincere ask, because as a threat analyst, it seems to me that publicly advertising your IP and available funds held within a channel seems highly irresponsible. It doesn't matter how locked down your security may be, because if the NSA can be hacked, so can your LN node
Is there some technical magic that you all implement that keeps hypotheticals like this from happening? I have no idea, which is why I'm asking. #Bitcoin or #Lightning devs please feel free to shed light on this. I would greatly appreciate it.
Read 3 tweets
#bitcoin #LightningNetwork Multi-party channels (NOT channel factories) offers massive benefits over standard 2 party channels.
Fees to open are minimal.
Finding path becomes MUCH MUCH easier.
From a routing perspective, if you have 1 BTC in a MP-channel, it can be routed to
any other member of the MP channel. Paths becomes drastically shorter, and cheaper, while simultaneously increasing liquidity massively. It has a multiplicative factor on all liquidity.
Channel factories = BTC split amount x number of channels
MP-channel = a channel for the
full amount to every single other member. So, if I join a 1001 member MP channel with 1 bitcoin, it'll show up a 1,000 BTC of liquidity. The channel graph would show me having 1,000 channels with 1 BTC each, ready and willing. (PLUS the amount each other person has to me)
Read 23 tweets
New to BTCPay Server? Here's how to get started and learn more 🧵

How BTCPay works?

BTCPay Simply Explained

BTCPay Official website for quick overview and features
Read 13 tweets
The #Boltathon Project Presentations will be at 2 pm PDT today. It is 100% free and open to the public. Come check out the awesome #LightningNetwork apps our hackers have built!

Link to join:

Vote for your favorite projects:…
Our Closing Ceremonies will also be at 5pm PDT. The winners of the hackathon will be announced at this time. It will also be 100% free and open to the public. Hope to see you there!

Link to join:
Also the thread to the livetweets of our amazing speakers of the #boltathon:
Read 17 tweets
Livetweet Thread to the #Boltathon. First up is @alexbosworth:
"In order for #LightningNetwork to succeed, a decentralized layer 1 is a must."
"Multiple member #LightningNetwork channels imply thousands of members per channel, tens of thousands of members per block, billions of members per week."
Next up is @bitconner on the architecture of lnd towers.

"It's one of the solutions to constantly having to be online. The design space in this area is massive. There are at least 10-12 dimensions of privacy to consider."
Read 26 tweets
The potential lack of security in Bitcoin's PoW as it transitions to a model without block subsidies is often used to rationalize and justify [perpetual] inflation.

Here are five reasons why I don't believe Bitcoin's security model will ever require perpetual inflation👇
1\ I recently wrote a piece on Schnorr signatures that explored how demand for private transactions will increase L1 fees.

In essence, new transaction types will incentivize the use of privacy-preserving techniques that increase demand for block space:…
2\ The adoption of quantum resistant techniques will also result in larger (and more expensive) transactions.

Post-quantum crypto algorithms require larger key sizes, which in turn increase the size of non-witness data in a transaction. For more, read:
Read 7 tweets
0/🔺 Another hot start to the week in the crypto and blockchain space!

Today's 23-part thread features teams announcing product releases, partnerships, successful funding rounds, and more. Let's get to it!
1/ 🌩️ @ThunderProtocol announced they "launched the pre-release mainnet of the ThunderCore blockchain" at the end of February, ahead of "the public launch [they] currently estimate to be in Q3 2019."…
2/ 💅 @StellarOrg [ $XLM ] unveiled a new logo; replacing the cartoon rocketship with a "use-case neutral" logo reflects the openness of the network and serves as a currency symbol for lumens. The brand will launch alongside a redesigned in May.
Read 24 tweets
0/ Happy Valentine's Day to you #crypto-Twitter. I have a 14-part thread for you covering events from the space within the past day or two. Romantic, I know 💋

1/ ⚡️ The development team behind @BeamPrivacy [ $BEAM ] - a privacy #cryptocurrency implementation of Mimblewimble - revealed plans to build a Mimblewimble-compatible #LightningNetwork!

Will work with @GrinMW devs to achieve this.…
2/ 🎉 @LeapDAO - a decentralized adaptive organization delivering layer-two #Ethereum scalability as a global public utility - announced its "community is now operating a More Viable Plasma chain" on the #Ethereum mainnet.…
Read 16 tweets
0/ Can you believe we're already 10% through the year!? When you consider all that's transpired in the #crypto/#blockchain so far in 2019, that fact becomes less surprising.

Below, a 17-part thread based on what went down over the past day or so. Helping you stay informed!
1/ 🤝 @AirSwap's [ $AST ] @Crypto_Bobby announced the team's newfound "ability to support fiat on-ramp directly on AirSwap through [their] integration with" @SendWyre.

Fiat<-->#Crypto within users' self-custodied wallet, all whilst using #AirSwap's trading interface!
2/ 🐟 @Ethereum Foundation grantee @LeapDAO - a decentralized adaptive organization delivering layer-two Ethereum scalability as a global public utility - revealed its first public deployment of a Plasma Network!…
Read 18 tweets
0/ We're currently tracking at 40°C (104℉) here in #Melbourne, yet even that pales in comparison to the heat we're seeing in the #crypto/#blockchain space over the past ~24 hours.

What a day! Below are 22 developments that caught my eye.
1/ 🍑 Prominent full-service #blockchain technology co. @BitfuryGroup today announced a #Bitcoin #LightningNetwork-oriented product bundle called @Lightning_Peach.

Consumers, merchants, developers; there's LN-enabled solutions for all! Read more below.…
2/ 💡 After 18 months in stealth, San Francisco-based #crypto custody provider @Anchorage is live with its first product. They're building the first-ever crypto-native custodian!

Last year's a16z-led $17M Series A featured @Naval, @EladGil and @MLevchin.…
Read 23 tweets
0/ Back from an amazing week in Hobart* to bring you a 24-part thread covering the latest from the #crypto space over the past day or two!

*S/O to @TasFireService & @NSWRFS for bravely fighting a near-month-long fire that's now burnt out 28,000+ ha of World Heritage-listed land.
1/ 🛰️ Leading #Bitcoin infra. #tech provider @Blockstream has launched its Blockstream Satellite API Beta.

Paying via the #LightningNetwork testnet (i.e., for free), users can broadcast data via Blockstream's satellite network. No #Internet needed!…
2/ 🛑 Ethereum's #Constantinople upgrade was postponed due to a potential vulnerability discovered by #blockchain security firm @Chain_Security relating to EIP1283 (i.e., cheaper gas costs for SSTORE operations). Next course of action to be explored during Friday's core dev call.
Read 25 tweets
Want some reassurance? Look at the growth of the #LightningNetwork in 2018:

4 clients live
18 software libraries
17 wallets
Capacity ATH

-Out of all technologies I've covered, Lightning is, by far, the best positioned to capture value from the real economy in 2019. A thread 👇
I see Lightning as a primitive that businesses can use to design optimal economic incentives.

Its exponentially scalable, highly divisible, and instantly reconcilable nature is unique, AND it is powered by the cryptoasset with the most liquidity and regulatory clarity: Bitcoin.
Lightning is orders of magnitude more efficient than that of centralized incumbents (ie Visa), which makes its use irresistible.

Before you shill your bag, consider that Lightning's DEcentralized counterparts are years behind in terms of development and network activity.
Read 12 tweets
0/ The #crypto and #blockchain space can get awfully noisy. Below, the bits that caught my eye over the past 24 hours or so.

21 events compressed into a humble #Twitter thread. Enjoy!
1/ 🙋‍♂️ @IOTAtoken [ $IOTA ] made hires #52 and #53 for 2018 via Andreas Penzkofer and William Sanders.

The former is an electrical engineer and physicist specializing in analytical and numerical methods. The latter, an academic focused on commutative algebra and category theory.
2/ 💡 Australian #blockchain startup @PowerLedger_io [ $POWR ] upped its presence in the U.S., announcing the deployment of its P2P renewable #energy trading platform at licensed retail electric provider @APowernet's Pennsylvania HQ.

Click below for more!…
Read 24 tweets
1/ Let's take a trip down #Crypto memory lane together !🗓️

The year is 2014. In the middle of the bear market, #Bitcoin enthusiasts are still optimist about the potential of their cryptocurrency and a book "Bitcoin for the Befuddled" is published to explain it to novices.
2/ One specific extract from this book was then published as a blog post and stood out in my memory: “A Typical Day in a Blockchain-Enabled World Circa 2030”. ⛓️…
3/ In this chapter, we follow Crowley 🐊 the humanoid crocodile character as his day unfolds in a #hyperbitcoinized world and witness his interactions with smart contracts and programmable money.
Read 18 tweets
0/ What a hot start to the week for the #crypto and #blockchain ecosystem!

To help you keep up-to-date, here are just *some* of the developments out of the past ~24 hours' action...
1/ 🦅 #Ethereum-powered @AragonProject [ $ANT ] introduced the Flock program; the team's next step in decentralizing the development of #Aragon.

Flock will handle the initial application and pre-selection process for new Aragon teams.…
2/ ⚖️ @NexoFinance [ $NEXO ] opened up applications for prospective liquidity providers.

The #crypto lending platform is guaranteeing a 1:1 conversion to USD on any of six #stablecoin (i.e., $USDT, $TUSD, $GUSD, $USDC, $DAI, $PAX). Minimum stake of $100k. Interest up to 6.5%.
Read 37 tweets
0/ Having trouble staying on top of all the latest in the world of #crypto and #blockchain? I've got you covered. Well, at least for the last 24 hours or so 💁‍♂️

Let's get this thread going shall we.
1/ 📝 @DPRating published the September edition of its #GitHub Audit, rating more than 200 #crypto and #blockchain projects.

Teams that ranked disproportionately well included @Raiden_Network [ $RDN ], @NulsService [ $NULS ], @ParticlProject [ $PART ], and @POANetwork [ $POA ].
2/ ♻️ @PowerLedger_io [ $POWR ] introduced Asset Germination Events (AGEs), furthering the utility of its native #crypto token.

AGEs will allow people to invest in and co-own energy assets. More details to come via a Friday AMA.…
Read 24 tweets
#Bitcoin is bigger than all the companies that try to capitalise on its #blockchain #technology.

#Bitcoin + #IoT + #DeepLearning will transform the global political & financial system without permission.

#blockchain #LightningNetwork #fintech #blockchain #disruptiveinnovation
#Decentralisation will take time.

#Bitcoin is decentralised although still attached to a centralised world.

⚠️ This is the alpha.
⚠️ #LightningNetwork is the beta.
If you want to change society you need to change the social paradigm, or offer an incentive greater than money to discourage greed. #bitcoin #LightningNetwork ⚡️
Read 10 tweets
@Valustks1 Each one of the techs listed is revolutionary in it's own right. Combining them sets us up to replace *all* financial transactions with #bitcoin. Once the epiphany hits enough people, there will be a MAD rush to get rid of worthless fiat.
@Valustks1 This will be the trigger for the already 'waiting to happen' global hyper inflation.
Imagine the chaos during the *several* year transition period while people/gov/corps *globally* move from fiat to bitcoin.
All your IOUs that are fiat denominated are suddenly worthless.
@Valustks1 It *globally* resets all debt, at every level, personal, local gov, state, federal, and international... ALL goes to zero. What does it matter if you own $20T in debt, if $20T wouldn't buy a stick of gum?

Then, another big part... the globe goes from inflationary
Read 7 tweets
#BTC #Bitcoin + #LightningNetwork + Autopilot + Splicing will cause more earth shattering changes than have happened in the last 500 years.
The invention of the internet and industrial revolution combined are NOTHING compared to whats to come.
Oh ya, completely forgot AMP... that's an extremely important piece of tech as well.
Oops, posted the additional comments in the wrong place:
Read 3 tweets
Spending #Bitcoin today is senseless. But if we manage to make it a good store of value, then it will naturally be used as a medium of exchange in the future.

Thread 👇
1/ Instead of focusing on the act of "spending", we need people want to "earn BTC", to "be paid in BTC". We need more hodlers.

The economic and technical consequences of stressing one viewpoint (to spend) over the other (to earn) are profound and irreconcilable.
2/ Money's essence is being used as a medium of exchange (MoE). But for something to become money, or a universally accepted MoE, it must first follow evolutionary stages. First, comes store of value (SoV), second, MoE, and third, unit of account (UoA).
Read 57 tweets
1/ BCash's 1 min block proposal and attempts to make 0-conf safe are nasty fudges to work around inherent restraints in the base layer already solved by layered protocols. The more of these hacked "work arounds" that come to light the more clear it is they chose the wrong path...
2/ Scaling through block size increases alone compromises decentralisation and introduces trust. Trusting 0-conf requires you ignore why a blockchain and PoW were required in the first place. 1 minute blocks compromises security, changes inflation etc.
3/ I don't know how much longer they can keep willfully deceiving themselves until they consider that the near universally accepted method of network scaling through layered protocols might have been the right choice all along... but it will be a fair while yet I imagine.
Read 9 tweets

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