Discover and read the best of Twitter Threads about #lightningnetwork

Most recents (24)

BTC is "Bitcoin" only because a group of centralized exchanges gave it that ticker.

In other words, it was fixed.

A few dozen people decided that the Segwit fork would be "BTC" and the version that worked the way Bitcoin had always worked would become an "altcoin."
There was no level playing field.

There was no hashwar.

The market did not decide.

The market was not given a choice.

It was fixed.
Remember when Faketoshi split BCH?

Even though he was a total fraud with a completely bogus motivation for causing a split only two weeks before code freeze, exchanges still gave that bozo a level playing field, renaming BCH into "BCHABC" and "BCHSV".
Read 9 tweets
Qué es #LightningNetwork, qué problemas intenta solucionar y cómo funciona?
Esta es una explicación muy simple de lo que necesitas saber para entender la red lightning de #Bitcoin. Este hilo tal vez sea un poco largo, pero trata de cubrir los conceptos básicos de este protocolo.
Lo primero que hay que entender es que la red se llama "The Bitcoin Lightning Network". La tecnología es flexible pero se llama "Red Lightning de Bitcoin: Pagos instantáneos escalables fuera de la cadena".
La red Lightning es una red superpuesta, lo que significa que no es una cadena de bloques, no es una cadena lateral, no es una cadena de estado, no es una cadena de transmisión, no es ningún tipo de cadena, es una red P2P que opera junto, o si prefieren, encima de Bitcoin.
Read 129 tweets
I am very excited about #Lightning's future.I hear many Bitcoiners say they only care that #Bitcoin be considered a strong store of value.

While I understand the sentiment, I disagree. For me, #Bitcoin's ability to give ALL access to sound money & financial inclusion is key.
The indigent among us will often be too focused on providing for near term needs..they won't be searching for a SOV. To quote 70s sit-com "Good Times", they are "scratching & surviving". If #Bitcoin isn't adopted 4 consumer transactions, those who need it most will miss out.
It would sadden me deeply if #Bitcoin was PRIMARILY held in digital vaults of governments, exchanges, financial institutions & corporations...traded around during various business cycles, used for worldwide monetary settlements, commodity exchange, etc.
Read 7 tweets
Thread

In the time of John Locke the goal of the elites was get the peasants off their farms and into the factories for the "greater good".

Today the goal is to get the "peasants" (you) to spend all you earn and more as quickly as possible, for the "greater good". cont...
Oh did you think that Locke was a hero of liberty or the life of a peasant was miserable? Let's cure you of your state based programming.

Locke was not one of the good guys, he conspired with his contemporaries to solve their big problem, lack of labor for industry. Cont...
See the problem was many peasants were in fact small land holders, it is one reason Thomas Jefferson envisioned the US as a nation of said same. Problem in England is Locke and his buds considered peasants "lazy" they had all they needed on their family farms. Cont...
Read 13 tweets
I'm working on a pretty big deep dive on #lightningnetwork privacy and it suddenly struck me that unannounced (aka private channels) can actually be a privacy hit. 👇 1/3
2/3 If I open an unannounced channel with a merchant, that merchant also knows it's an unannounced channel which means that they know that any funds going from my side to their side is actually coming from my node. If it was an announced channel, then the merchant
3/3 could not know for certain that the last hop is where the payment was coming from in the same way that they are sure that the payment came from the node with the unannounced channel. If the merchant requires name/address etc. then you are now doxxed due to the private channel
Read 4 tweets
And there it is, folks, #Monero now #2 blowing past #Ethereum and catching up rapidly to #Bitcoin.

Only a matter of time 🤷‍♂️

Superior, fungible digital cash will win on free markets.

Also #1 in the US and rapidly gaining share in Canada at #2.
Poor #LightningNetwork stuck at 3.6% 🥲
% breakdown by transaction *count* instead of $ volume here:

Read 3 tweets
#LightningNetwork, es un protocolo descentralizado creado para mejorar la escalabilidad de Bitcoin. La red Lightning es una red peer-to-peer que opera como una segunda capa sobre #Bitcoin y que permite hacer micropagos de forma casi instantánea. Qué necesito para usar Lightning?
Para utilizar Lightning Network necesitas instalar un nodo para Lightning y una billetera que se conecte con la red para poder enviar/recibir los pagos. En teléfonos móviles no es tan difícil, porque las billeteras LN en móviles son técnicamente nodos ligeros para LN y funcionan
Para computadores de escritorio o portátiles, la historia es otra, no hay muchas opciones, debes instalar un nodo Bitcoin y un nodo Lightning además de una billetera compatible con LN. Las soluciones All-in-One, como Umbrel, vienen preparadas para utilizar LN desde el principio.
Read 6 tweets
1/ Time to share some of my thoughts and experiences from getting this self-sovereign #LightningNetwork stack up and running.

tl;dr - not for the faint of heart/non-tech-savvy, but once configured and up and running it seems to be working quite well for me!
2/ For the Bitcoin node, I simply exposed the Dojo bitcoind node's RPC that I already had up, and was able to easily access it across my home's network:

code.samourai.io/dojo/samourai-…

Be sure to write down the ports used here if using a Dojo node externally, as they're non-standard.
3/ First off in the stack is @Core_LN:

github.com/ElementsProjec…

The installation process was solid, and I was able to leverage a modified version of their systemd script to get it to run on boot as a service:

github.com/ElementsProjec…
Read 28 tweets
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
Non-Technical: Lightning Network Explained
(Explicación de #LightningNetwork No técnica)
Para los no técnicos, qué es Lightning Network? Cómo funciona? Desde transacciones de financiación hasta canales, tarifas, seguridad y la falta de confianza...
En este vídeo Andreas M. Antonopoulos explica qué es Lightning Network y cómo funciona para las personas no técnicas, veamos si se puede responder a esta pregunta...
La red Lightning es una red superpuesta, lo que significa que no es una cadena de bloques, no es una cadena lateral, no es una cadena de estado, no es una cadena de transmisión, no es ningún tipo de cadena, es una red peer-to-peer que opera junto o encima de #Bitcoin
Read 58 tweets
2nd week @summerofbitcoin started and my two mentees Krystal Maughan and @sebulino working on Price of Anarchy in Selfish routing already nerd sniped me and I just had to sit down to create this diagram which predict the channels failure rate assuming a given drain on channels Image
I give a bit more context on this issue on the @lightning labs lnd issue at github.com/lightningnetwo…
I just realized that the depleting model of a channel can be seen as a bounded discrete 1 dimensional random walk (en.wikipedia.org/wiki/Random_wa…). Damn it! I really tried to avoid learning those & Martingales (en.wikipedia.org/wiki/Martingal…) for a long time

fyi @Snyke @bitromortac @c_otto83
Read 4 tweets
.@stablekwon has proposed to fork #Terra_Luna blockchain. This is a momentous decision.

Before voting on it, let's first look at 2 notable blockchain forks. Why we needed those forks, who proposed them, and how it ended.

Let's dive in. 👇 1/n
1. The infamous DAO hack.

In 2016, a group of @ethereum users launched a DAO- an investment fund that allowed members to vote on and fund future Ethereum-related projects. They raised more than $160 million worth of #ETH from about 11k investors.

Then came the hackers. 🥲 2/n
They found a bug in the smart contract and siphoned 3.6mil ether from the fund.

Think of smart contracts as vending machines. Pop in a dollar, pick the drink and it should dispense it. A vulnerability is akin to getting a free drink without paying.

The community responded. 3/n
Read 14 tweets
In this tweet (tinyurl.com/2p8ktpds) I showed how to RECEIVE a Bitcoin payment on a NFC card, thanks to LNURL-pay.
Here the things become more interesting: how to PAY bitcoin over #LightningNetwork "offline" using a NFC card, thanks to LNURL-withdraw and @BtcpayServer!
1/N
We can send payments by bringing with us just an offline support such as a NFC card or other tag: our node is always online, so the merchant's device grabs the LNURL from the offline device and talks with the server (the user's node) directly. 2/N
Here the payment has been sent to my BTCpay POS, which has a plugin that enables the NFC sensor ("LNURL NFC Support" plugin by @MrKukks)
Please note that the version is 1.0.1 so it's still early and I had a bit of difficulty to find the NFC sensor on the back of my phone. 3/N
Read 6 tweets
Africa is ripe for #Bitcoin adoption.

This is my friend (and former colleague) Jorge using @bitrefill and @MuunWallet in Mozambique, where only about 30% of the population have formal bank accounts, but 70% have mobile internet access.
Jorge lives in Bomba, Praia do Tofo, in the Inhambane province. We worked together when our business @UnravelSurf was still operating surf trips there. Until the covid lockdown clownery. Below is Jorge (center back) welcoming a tour group in 2014, with open arms, literally.
His income was entirely based on tourism in Tofo, and he got destroyed. So in mid 2020 I started helping him, but (as is always the case) the fees on remittance services were ridiculous.

So I introduced Jorge to #Bitcoin and the #LightningNetwork⚡️
Read 7 tweets
Oof.

Anyone with a more #LightningNetwork-focused following want to run the same poll and see what you get?

In some ways I'm glad I'm not alone but that's... Not exactly the UX normies will put up with.

Do you all think this is why custodial LN is so commonly used?
If you voted in my poll don't vote here, but will add polls by others that are similar here to compare among follower sets.

Thanks for kicking it off @L0laL33tz!

Read 4 tweets
So thrilled to share this project I call the "Lightning Network Do Something Module" ⚡️

For over a year now I have been enthralled with the classically Casey motif of making the digital physical; this time by having a Lightning payment trigger a real world event. Here's how! 🧵
2/ As we know the #LightningNetwork , a L2 built on #Bitcoin , is an open project so it can be accessed and extended to many computing platforms from phones, to servers, and even tiny microcontrollers (MCU) like @arduino and, for this project, an #ESP32 via the @M5Stack Core 2
3/ What happens is that the internet connected MCU will fetch a Lightning invoice for any pre-defined amount. This can be ran most easily from a LNBits.com instance, or self hosted on something like @umbrel

This invoice is then shown as a QR code.
Read 13 tweets
1/20 Amboss Magma Liquidity Marketplace
I tested this new service and it really fills an amazing gap! Let’s walk through the buying process! And check the announcement of @ambosstech here:
ambosstech.medium.com/magma-announce…

#LightningLiquidity #LightningNetwork @Jestopher_BTC @tonyioi
2/20 The need for Lightning Liquidity is big and will become much bigger in the near future!
Listen also to Episode 8 of @ctw_podcast with @alexbosworth of @lightning, where he elaborates on how he likes to spend his sats😉


#LightningNetwork @Joni_Kyasshu
3/20 Inbound liquidity is one of the biggest challenges for onboarding new people. At @TheBitcoinConf 2022 in Miami there was a panel discussion with the title “Lightning Service Providers and Liquidity”.


#Bitcoin2022 @Blockstream @RyanTheGentry #Bitcoin Lightning Service Providers...
Read 21 tweets
암호화폐와 스마트컨트랙에서 '코드가 곧 법'인 이유는 한번 블록체인에 올리면 되돌릴수가 없기 때문이다. 만약 bug 가 발견되면 개발자들이 코드를 업데이트 할수는 있지만 그렇게 되면 블록체인을 하드포크해서 새로만든 스마트컨트랙에 다시 적용해야한다.
🧵 /1
때문에 웹 3.0 세계의 디폴트 문화는 DYOR이다. 유저에게 높은 자기책임이 요구되는 것이다. 코드가 투명하게 공개되어 있기도 하고 다시 뜯어고치는것도 복잡하니 애초에 사용하는 사람이 리스크를 잘 따져보고 써야한다. 만약 스마트컨트랙 취약점을 노린 exploit 이 발생하면 유저 책임도 크다. /2
지금"웹 3"테마로 나온 플젝이 편한 사용성, 빠른 속도, 문제가 생겼을때 해결해줄 운영진, 이런걸 먼저 내세운다면 번지수를 잘못 찾았거나 그냥 마케팅이다. 탈중앙성, 권력의 분산화, 이딴거 중요치 않다고 말하는 서비스는 믿고 걸러도 된다. 웹3도 아니고 플랫폼도 아닌 애매한 것이 더나쁘다. /3
Read 10 tweets
1/ #LAYER2ROUNDUP: c-lightning undergoes a name refresh and is now #CoreLightning, #Bitcoin capacity on Lightning ⚡️ eclipses Liquid 🌊 for the first time, Liquid uses DynaFed, & @TheBitcoinConf hosts many layer-2 panels; lets recap👇🧐
2/ In an April Fools fake-out, the community-driven ⚡️ implementation c-lightning underwent a name refresh to officially become #CoreLightning.

Follow: @Core_LN

TG: [t.me/lightningd]

Discord: [discord.gg/EuprYqysDc]

Details: [blog.blockstream.com/en-c-lightning…]
3/ In late March, the #LiquidNetwork activated, for the first time, a new Peg-out Authorization Key (PAK) list using #DynaFed, which introduces improvements at the functionary level to improve decentralization, security, and network flexibility.

Read 13 tweets
Alguns comentários sobre o artigo do @PeriniBruno no @Estadao @EstadaoEconomia publicado esta manhã com o título: "Por que o #bitcoin será cada vez mais adotado pelas pessoas".

Espero poder trazer um debate saudável sobre o assunto para quem interessar. 1/
Como produtor de conteúdo e redator, eu gosto muito de receber feedback sobre o que escrevo.
Adoro receber feedbacks positivos, mas minha evolução profissional se dá principalmente onde existe conflito, pois me motiva a melhorar e me permite aprender coisas novas. 2/
Eu também acredito que, como divulgadores de informação em uma área de conhecimento ainda com grande assimetria de informação, o aprendizado constante é essencial para trazer informações corretas e educar pessoas que buscam entender melhor o universo #cripto e #blockchain. 3/
Read 27 tweets
Mas de 1 año mi Canal LN mas antiguo.
El canal lo abrí 1 o 2 meses después de arrancar el nodo.
Hoy estamos ruteando.
Que linda sensación ser parte de la infraestructura de pagos global del futuro.
Hoy corriendo @getumbrel . Antes tuve nodo común, luego hice pruebas con @RaspiBlitz y @mynodebtc hasta que di con el hardware correcto. Accesible y barato importado con dólar subsidiado.
Esta muy difícil conseguir las @RaspberryPi_org ahora y se fueron al carajo los precios.
Pasos para comenzar a conectarse. Y lograr liquidez en ambos lados del canal.
1 Abrir canal con algún amigo.
2 Participar en Anillos de Fuego, ya sea en @LatiNodos_ o en @BTC_LN
3 Conectarse a 2 o 3 nodos grandes como @walletofsatoshi @lnbig_com
Read 7 tweets
Probablemente algunos hayan visto este video. Más allá de la demostración penosa de la tecnología (desubicados el lugar, la forma y el momento), hay un detalle no menor que me gustaría enfatizar para los que creen que #LightningNetwork funciona.
Si notan bien, por un par de segundos se muestra la tarifa de la transacción (el equivalente a diez centavos de dólar o casi veinte pesos argentinos).
¿Por qué paga tanto? Resulta que al pagar por Lightning usando Muun, la billetera «esconde» el hecho de que se está abriendo un nuevo canal de pago. Realmente, esa tarifa es la transacción que debe quedar registrada en la cadena de bloques.
Read 7 tweets
🔥Lo prometido es deuda🔥

⚠️Inicio mi primer hilo sobre proyectos en #Criptomonedas, con la #blockchain del gigante dormido, y el proyecto más infravalorado por los "cryptobros".

😉 Sin duda tenía que ser #Cardano con su token nativo $ADA.

Dentro 🧵 1/15 👇
#CardanoADA es una blockchain que utiliza la prueba de participación (PoS).

¿Qué la diferencia de las demás redes de este tipo, y la convierte en la #blockchain del futuro?

Soluciona el famoso "trilema" de las redes descentralizadas sin cabos sueltos ¿Cómo lo hace?

2/15 🧵
🔐 Seguridad (1/3) 👇

#Cardano está basado en un lenguaje de programación funcional llamado Haskell.

Este lenguaje requiere la comprobación matemática, es decir, permite comprobar que el código hace lo que tiene que hacer SIN ERRORES ni fallos (impenetrable).

3/15 🧵
Read 17 tweets

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