Topic: Dude buys sandwich with Lightning Network - page 3. (Read 336 times)

1. lightning is a separate network and needed bitcoin to change to be compatible with it.
other coins needed to do the same aswell. like litecoin
changes such as segwit bech32 addresses bitcoin (bc1q address) litecoin (ltc1q address) to easily identify the initial locked funds apart to then check the separate blockchains that the funds are truly locked when users of both are on the lightning network

2. you can spot that the "payments" inside LN are not true bitcoin or litecoin transactions because the decimals of the token representations are not 8 decimals.

3. the payment is not moving bitcoin. it is just a bunch of private agreements between parties of who owes who wat. the settlement and real bitcoin movement/confirmation happens later

i would continue to discuss the limitations, flaws and misunderstandings and over promises and under delivery of both segwit and LN but that usually causes a certain group of people to invade the topic to cause social distractions of insults and misdirections to try to confuse people while they keep adverting this other network as something great.
which is just social marketing. much like coinbase and circle do while they play around with multiple coins. but pretend they are bitcoin centric

but in short LN is not bitcoin. its a different network and is just grabbing fame and investment by socially talking about it in the same conversations as bitcoin
even the LN devs themselves are asking people to only use it at their own risk and be aware

it is probably best to use the testnet and use it to understand it for yourself and run lots of scenarios with it. as i feel if i say more this topic will get derailed with social politics

I'm sorry for ignorance, what do you mean in multiple coins will be use? What exactly those coins? Is that altcoin? Ok, I didn't know this whole thing, that funds can be lock up without our knowledge. All I know that LN is what made the bitcoin transaction more faster than the usual and with the help of SegWit2x the blocks became larger.

Thanks for this, I should do my assignment later.

Even this Lightning Network looks pretty awesome and fast I still prefer the Bitcoin Network the one and only.
Damn that restaurant crypto payment system is awesome and it looks like the payment system of our future looks like that maybe three to five years from now, that payment system on that restaurant will be seen globally.
I hope that I can also see those kinds of restaurants in my country soon. 
The legendary "Satoshi Nakamoto" really changed the world! I think that he is really happy seeing his invention widely used by people all around the world.

standard disclaimer

LN is a separate network that multiple coins will use.
currently bitcoiners are testing it. but remember LN is a separate network that locks peoples funds up.

even LN devs announce to use at own risk and only deposit amounts your willing to lose. as there are flaws and bugs
you may experience sudden signs of euphoria of making single transactions but to remain vigilant about the issues

meanwhile we should also concentrate on innovating the bitcoin network while other teams innovate a separate multi coin network called lightning.

lets not get too distracted by operations occuring on other networks as they are only side services that should remain voluntary to opt-in and not treated as the sole future feature that bitcoiners need

https://www.youtube.com/watch?v=ZlyPNABZtHk

The first demonstrations of real Lightning Network payments for real goods and services are already there and we are still in beta phase. You can already go buy a (rather expensive) sandwich if you are lucky enough to live in Switzerland.

We are at year 0 of LN, imagine things in 5 to 10 years. We can meet in Switzerland by then when 1 BTC will buy us millions of sandwitches, and if other governments are jackasses enough to have banned Bitcoin, you already know in Switzerland there will be a Bitcoin-friendly haven for all of us to happily pay taxes there instead of being treated like criminals.