Expect the same or higher FUD on lightning as you have seen on #Bitcoin layer 1. Ie - Follow the money!!
As more people realize how attacking Bitcoin first layer only made it more decentralized and secure, it makes perfect sense that capturing the 2nd layer also moves into focus.
Imagine telling people that Lightning will not scale when it has grown ~ 20,000 % over the last couple of years.  It IS scaling and becoming easier to use as companies building on it (like Breez) solve problems that bring on the masses.
Other scaling solutions like Fedimint, integrate and scale further.
Super exciting times in as the builders - build.

Yes, still things to work on but saying lightning is dead, is akin to saying Bitcoin was dead for the last 14 years.

Ps - on a personal note, I use it every day (as many of you do on Nostr) and it seems to be “scaling” just fine.


Do you think lightning could reach visa/mastercard status eventually?


Think of it as the highway that connects the cities. (Cities are fedimints) Early builders were building one way back end gravel roads. (Liquidity demands that create choke points on the one way roads).

That problem is being solved!


From: nostr:npub15f0lnlxujj05a8cr7emhsz9cszcjalaq0su6rymvw22zuth0h9fs7cqrdx


Although I am a fan of the project, I don't like Fedimint being referred to as a scaling solution. it is a fully custodial solution and loses many properties that make Bitcoin what it is.


That's exactly how I have been visualizing it. My curiosity about fedimint is how large these federations might become... will cities have them or moreso families? Maybe somewhere inbetween.


No doubt, we will soon see a mass adoption of lightning.

We are just one documentary or one case study away that can prove how lightning smoothly integrates and succeeds in daily life exchange with any 3rd party.

Once this type of video or paper gain 1-2 M views/ Impressions, we can expect a 10% adoption rate

This means 100k new lightning users after 1 hit story.

I am searching for this example, and once I finish this research, very eager to write a report on it for further content developments.


Jeff, I've been a longtime listener, reader, and fan. Thank you for your patience and the thoughtful way you explain Bitcoin, the monetary system, and how our future may unfold due to the deflationary pressures of technology in an inflationary world.

With Bitcoin, we have hope for a brighter, decentralized future. With Lightning, we hope for a peer-to-peer economy at scale. Thanks again.


Fair - but some trade offs are required to scale to 8 billion people. If you realize that the builders of those solutions think similar to you, (Bitcoin maxi’s) you can imagine how they are creating checks and balances to ensure it is fully backed to bitcoin.


I don't anticipate nearly as much FUD as there's so much less at stake

nostr:nevent1qvzqqqqqqypzqswfaqpnevkd3l8fcels7wv29upu2zc5usescpgg04sypw570lp5qqsz4pxdd9ghw83t7dgg3lts75e29jed2gpumh3epe2suqmn54cdasc92q4pp


While custodial-ness and scale are not orthogonal, neither are they the same.


Onward 🫡

Onward 🫡


Thank you for putting your brain in the game.  I have written a short piece about rewarding Bitcoin adoption.  https://stacker.news/items/421360/r/Nuttall


Just for that I had to scale you some sats.


ไม่ว่าจะเส้นทางใดที่เราเลือก ทั้งหมดนั้นคือทางรอด
#Siamstr

nostr:nevent1qqsdur0czzm3e23jtqqhm6nc7ehhgmdf52h3j7etcg8lklzmjz5hygcpz3mhxue69uhhyetvv9ujuerpd46hxtnfdupzpqlgrr0man8226c0252hdvla8xn62rsas9vngdgqx686ppwvm9jtqvzqqqqqqyq0zzvh


:fire:


self custodial lightning is a pain in the ass, custodial wallets work well.  But this leads us down the road of trusted third parties again, i dont know if that is a great solution for freedom money?


Lightning works well, but it is getting more & more centralized to a select few big wallet providers.   I can't see it being decentralized unfortunately.  Running a Lightning node is multiple orders of magnitude more involved than just a regular Bitcoin node, especially trying to recover after a crash with no mirrored server & getting funds back on a Watchtower node.  Lots of Dev work needed on the back end to make it more friendly for people tosuccessfully run their own Lightning Node and keep it decentralized.


absolutely agree.  its a long way to go if dont want a paypal for  bitocin.


Expect the same or higher FUD on lightning as you have seen on #Bitcoin layer 1. Ie - Follow the money!!
As more people realize how attacking Bitcoin first layer only made it more decentralized and secure, it makes perfect sense that capturing the 2nd layer also moves into focus.
Imagine telling people that Lightning will not scale when it has grown ~ 20,000 % over the last couple of years.  It IS scaling and becoming easier to use as companies building on it (like Breez) solve problems that bring on the masses.
Other scaling solutions like Fedimint, integrate and scale further.
Super exciting times in as the builders - build.

Yes, still things to work on but saying lightning is dead, is akin to saying Bitcoin was dead for the last 14 years.

Ps - on a personal note, I use it every day (as many of you do on Nostr) and it seems to be “scaling” just fine.


Sometimes Lightning is described as it will be frequently used by people having their own Lightning wallets. I believe it will be a technology used to scale Bitcoin in the future. But I it will be very rare for individuals to use it, in the same way few people are their own ISPs today. Instead higher layers will serve “the masses”.


I think people are referring to self custodial lighting. You’re right that everything works well when you’re using a custodial solution.

Most people are going to use custodial solutions. It’s the unfortunate reality. Most people will never have a UTXO or independently manage their own Lightning channels and liquidity.

Yes, bitcoin and Lightning will scale but just not in the way that we would all prefer.


Can be self custodial - Like Breez, and allow liquidity in larger LSP’s
The difference (imo) is that the trade off is some centralization of LSP’s because of efficiency, while keeping them honest through the free market. (Ie - if they raise prices too high, people flee to competing solutions.


Stay in good spirits and health


Self-custodial Lightning is a rabbit hole, and we’re here to help people who want to explore it for themselves learn how.


Can lightning scale adequately without shared UTXOs? Is there another method I'm not aware of that exists or has been proposed to solve the scaling issue of theoretical fees vs population?

#asknostr

nostr:nevent1qqsdur0czzm3e23jtqqhm6nc7ehhgmdf52h3j7etcg8lklzmjz5hygcpr4mhxue69uhkummnw3ez6ur4vgh8wetvd3hhyer9wghxuet5qgsg86qcm7lve6jkkr64z4mt8lfe57jsu8vpty6r2qpk37sgtnxevjcrqsqqqqqp602ljw


it should be easy, not a rabbit hole imo.  nobody wants to use complicated stuff for simple things like buying a coffee.


Bulk Nostr Zap https://www.zapadd.com

Bulk Nostr Zap https://www.zapadd.com


I don’t view Breez as self custodial. They appear to manage liquidity by being a “man in the middle” for payments. It seems like they don’t custody payments for very long, but for a brief period they take possession of your funds.

I think it’s great that they do so because self-custodial Lightning is difficult to manage. I just don’t think they should say they are self-custodial when they aren’t 100% self-custodial.

I maintain that we’re moving now into a custodial world for most people. We’ll need to limit the custodial touch points and risks through smart technology (like Breez) and geo-distributed federations. https://image.nostr.build/3c5de55e420a17323c36cae0bf0520ac9f65234c77c851145f6099a5a47f140c.jpg


I'm not a techie.

Would a large increase in individuals running a node lead to better scaling?


Great post 👍

Great post 👍


Onward 🫡

Onward 🫡


Every morning, I make a large cup of coffee and get some Jeff Booth on YT TV. I especially enjoyed this Fold 34 keynote this morning.

https://www.youtube.com/watch?v=1nw7lHXuzKo


This is the way


Unfortunately no. I understand why you might think so but running a node is primarily for your own benefit.

Running a node helps you to verify your account balances and transactions while preserving your privacy. It doesn’t increase the overall transactional capacity of the bitcoin network.

I’m happy to drill down into these concepts if you would like further detail. Just let me know!


hello


hello

hello


Hi, I am among the unfortunate victims of the FTX scam, a situation that has resulted in the loss of my entire savings, totaling around $20,000.

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To witness such blatant exploitation of innocent people for personal gain is not only disheartening but also raises concerns about the moral and ethical compass of those involved. Their actions can only be described as mentally and spiritually sick, going beyond mere financial misconduct.

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Thank you for taking the time to read my plea, and I sincerely hope that you may find it in your heart to offer assistance during this trying period. Your kindness will not be forgotten, and I am immensely grateful for any support you can provide.

Lightning Address : appealforassistanceftxscamvictim@geyser.fund

BTC : bc1q9vfmfwj6av9pxj50r6xyl652mwhqvw5ds86nw2


Bulk Zap

Bulk Zap


test please ignore

test please ignore


🇬🇧  Tune out the noise and focus on doing 'your little bit' to usher in the new world!
Haters will always hate, so we must focus on our goal of making the world a better, fairer place for our kids and grandkids in a Bitcoin world!

nostr:note1mcxlsy9hrj4rykqp0h483an0w3k6ng40r9ajhss0ld79hy9fwg3sm7fvcq


Orange Blessings 👍 let's gooooooo !!!!!

Orange Blessings 👍 let's gooooooo !!!!!


Every programmer knows that "works on my machine" is a lame argument. LN is insidious because there will always be some guy for whom it all just works while overall the thing is a mess.


thanks, I appreciate the help

I get that there's a benefit running my own node as a self custodial thing. that does interest me

I thought that by opening a channel using my own liquidity, I'd be increasing the scaling of the network (if ever so small degree,)


I guess one of the questions about running a node, is do I put the asset at risk of hacking? does a noob get themselves into trouble with maintaining security?


ah that's interesting. I'd be screwed with that since I barely understand a computer outside of word processors

I can learn

but I'd darn sure prefer someone creates an AI to manage troubleshoot and correct issues for me


The first improvement needs to be the default for every non-custodial Lightning wallet with zero funds in it, to receive payments just as easily as a 0 BTC address.


if your pay for Bitcoin was at or below costs, would that lead to a zero tax event, if you only held the BTC, and eventually, use it as collateral for a loan?


We intercept the payment, we don't have access to the user funds. You're also confusing trust and custody.


Expect the same or higher FUD on lightning as you have seen on #Bitcoin layer 1. Ie - Follow the money!!
As more people realize how attacking Bitcoin first layer only made it more decentralized and secure, it makes perfect sense that capturing the 2nd layer also moves into focus.
Imagine telling people that Lightning will not scale when it has grown ~ 20,000 % over the last couple of years.  It IS scaling and becoming easier to use as companies building on it (like Breez) solve problems that bring on the masses.
Other scaling solutions like Fedimint, integrate and scale further.
Super exciting times in as the builders - build.

Yes, still things to work on but saying lightning is dead, is akin to saying Bitcoin was dead for the last 14 years.

Ps - on a personal note, I use it every day (as many of you do on Nostr) and it seems to be “scaling” just fine.


You're making everyone a disservice by trying to set up a religious adversarial mindset here.

First, it makes sense to have such a mindset about Bitcoin itself, but not about a particular, optional and highly troubled L2 solution on top of it.

Second, LN fatal shortcomings are well known by now, your position could have made sense some 6 years ago when we had to try and find out, in 2024 this sounds pathetic and delusional.

nostr:note1mcxlsy9hrj4rykqp0h483an0w3k6ng40r9ajhss0ld79hy9fwg3sm7fvcq


The only other one AFAIK is Enigma


Human nature dictates they will move towards the least painful solution. Self custody will never be mainstream, so lightning will continue to rise in use and popularity.

Scaling will happen and it will be fine. The problem is the bitcoiners who prefer self custody versus the bitcoiners who prefer custodial solutions.

Bitcoin does not care about this, it is only the emotions of the people who want to change other people.


all of the above


You only don’t have access to user funds because you choose not to access them, correct?

It seems from your knowledge base that your software could change the payment details to access funds if you wanted.

Anyway, sounds like a cool and useful solution but my point is that if you have control over funds it’s not self custodial. Perhaps “trust-minimized” would be a more accurate term.

I haven’t dug into your source code so I might be totally wrong about whether your software has control over payment funds. Please let me know if I’m wrong about that.


Apologies, I realize from your question that I gave your a partial answer. I assumed that when you said “node” you were referring to a node on the bitcoin network.

I see from your question that you’re thinking about a Lightning node.

Yes, if you open up a channel with your own liquidity you are slightly helping the network. To make a difference you will need to open multiple channels to other relevant nodes so that your node is a relevant participant in the network.

You should also get the other side of the channel to add liquidity too so the channel is more balanced.

Your Lightning node will need to be online and reliable to make a difference (so you can’t just run it on your phone).

I’m not a Lightning node expert so perhaps others can weigh in here.


Running a bitcoin node does not put your bitcoin at risk.

Running a lightning node does put your bitcoin at risk. It is quite difficult right now to run a lightning node. The biggest risk seems to be forced channel closings that consume bitcoin as fees.

This post explains some of the gotchas that happen when you’re running your own Lightning node:

https://blog.mutinywallet.com/mutiny-wallet-faq/


Technically, any lightning node can intercept htlcs, it they can't access the funds because they don't have the preimage. So it's incorrect. There's an optional trust with using zero-conf channels (post interception). If users are choosing to use zero-conf channels, they trust the LSP not to double spend till confirmation. However, this is just one option of the LSP model.


Onward 🫡

Onward 🫡


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https://www.okx.com/cn/web3/marketplace/inscription/ordinals/token/SXTB

公司联名匿名股东铭文

英文名称:SXTB(BRC20)
中文名称：双信通宝
发行总量:2100张铭文。

总供应量：2100万
单次铸造上限：1万
创建时间：2024/01/26 16:45:23
部署铭文ID:
700758676014b513fb662e1256f322b4e95ecb4d9acbdd42e14166f65f7c62a9i0
起始铭文编号#57422775
结尾铭文编号#60280983
SXTB是基于 ordinals 协议在比特币区块链上部署和Mint的 BRC20，铭文替代股权BRC20代币

SXTB于 2024年 01月26日部署，2月9日18:47:24Mint完成，历时15天，消耗比特币gas75000元人民币左右
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🎉🎉SXTB是什么？
双信通宝loge

SXTB铭文替代股权
1:文字代表公司
2:B代表现代中心体系
3:白色代表去中心的纯粹
4:淡蓝色代表蓝海市场广阔
5:圆形和方框代表古代货币体系符号
6:中心黑黄色代表黑暗和光明斗争的四面楚歌

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 线下多个知名社区联合打造，带领大家提前布局BRC20铭文赛道！
其目标是打造比特币匿名股东生态铭文 第一大社区！

优势分析:人无股权不富，马无夜草不肥

铭文之王，永不归零，唯有升值
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🎯SXTB铭文未来会拥有强大社区基础，联盟以线下社群为主，不断开发线下与线上 全网全覆盖布道 顺便打开国际市场
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🎯SXTB诞生在比特币链上，Mint在聪上，跟比特币永恒共存。除非比特币消失

手里一定要有SXTB铭文的10个理由：

1、铭文是本次牛市叙事的龙头

2、BRC20是最高热度的铭文链

3、市值只有几万美金；最早的先机

4、散户参与程度非常高

5、IP符合股权流通的中文形象

6、支持所有比特链BRC-20钱包
7、 单价低，适合新人的价位低
8、社区确定定位铭文替代股权
9、大户筹码共识高

10、社区共识度高 天生不服就干的精神

🎯SXTB诞生在比特币链上，Mint在聪上，跟比特币永恒共存。除非比特币消失


I’m ok with that for day to day spending


me mostly as well - but nobody got into bitcoin for day to day spending. And sooner or later a government will bully a lightning wallet provider into censoring or freezing funds...