Lightning Network Observer - page 10.

cAPSLOCK

legendary

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Note the unconventional cAPITALIZATION!

Quote from: cryptosize on July 06, 2023, 01:13:04 PM

Quote from: fillippone on July 06, 2023, 06:03:12 AM

Listening to an Italian podcast, I was introduced to this Longform:

We Need More Apps with Lightning, not More Lightning Apps

This is a very well-written article with an innovative thesis: we need more applications built with LN inside and not a better LN application.

The parallel is with digital cameras. Those objects were pretty good until 2007, it was the integration of a digital camera in the iPhone that was a game changer and allowed for a complete reinvention of the product. Not as per se, as before, but as an integrated layer on a bigger, more complex, product.

And this is key to shifting the lever to increase the usage of LN: not the ideology, but the utility. Utility, the ability to use something for a reason, is by far a more effective way of convincing someone to use something or orange-pilling as we speak of Bitcoin technologies.

Quote

Utility is the key to scale. Connections are the key to utility. Developers are the key to connections.

I liked the digital camera/iPhone analogy.

Who could have imagined Instagram back in 1974? Shocked

I bet no one can imagine how Bitcoin/Lightning will look like in 50 years from now... Cool

Nostr is where this is happening currently.

First person to ping me on there who is "zappable" gets 1k sats.

npub1qktjyk0vdqlfss7wztawdnka5phx2p3vlvq50x0z402jk2fjhtnqlx9qas

cryptosize

sr. member

Activity: 1666

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Quote from: fillippone on July 06, 2023, 06:03:12 AM

Listening to an Italian podcast, I was introduced to this Longform:

We Need More Apps with Lightning, not More Lightning Apps

This is a very well-written article with an innovative thesis: we need more applications built with LN inside and not a better LN application.

The parallel is with digital cameras. Those objects were pretty good until 2007, it was the integration of a digital camera in the iPhone that was a game changer and allowed for a complete reinvention of the product. Not as per se, as before, but as an integrated layer on a bigger, more complex, product.

And this is key to shifting the lever to increase the usage of LN: not the ideology, but the utility. Utility, the ability to use something for a reason, is by far a more effective way of convincing someone to use something or orange-pilling as we speak of Bitcoin technologies.

Quote

Utility is the key to scale. Connections are the key to utility. Developers are the key to connections.

I liked the digital camera/iPhone analogy.

Who could have imagined Instagram back in 1974? Shocked

I bet no one can imagine how Bitcoin/Lightning will look like in 50 years from now... Cool

MusaMohamed

sr. member

Activity: 966

Merit: 306

Quote from: fillippone on July 06, 2023, 06:03:12 AM

We Need More Apps with Lightning, not More Lightning Apps

This is a very well-written article with an innovative thesis: we need more applications built with LN inside and not a better LN application.

Lightning Network applications are built and we actually need more platforms, more business, more other applications to integrate available Lightning Network applications.

Like some peer to peer trading platforms which were shut down latest months, Paxful, LocalBitcoins. They have widgets to help other platforms to easily deploy and collaborate with them, to gain more users to to their platforms and trade there. All start with a widget.

I agree with you that adoption should be started with readiness to accept Lightning Network, then interact with available apps. Building new Lightning Network applications is not necessary.

fillippone

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Fully fledged Merit Cycler - Golden Feather 22-23

Listening to an Italian podcast, I was introduced to this Longform:

We Need More Apps with Lightning, not More Lightning Apps

This is a very well-written article with an innovative thesis: we need more applications built with LN inside and not a better LN application.

The parallel is with digital cameras. Those objects were pretty good until 2007, it was the integration of a digital camera in the iPhone that was a game changer and allowed for a complete reinvention of the product. Not as per se, as before, but as an integrated layer on a bigger, more complex, product.

And this is key to shifting the lever to increase the usage of LN: not the ideology, but the utility. Utility, the ability to use something for a reason, is by far a more effective way of convincing someone to use something or orange-pilling as we speak of Bitcoin technologies.

Quote

Utility is the key to scale. Connections are the key to utility. Developers are the key to connections.

fillippone

legendary

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Fully fledged Merit Cycler - Golden Feather 22-23

Quote from: ?? on ??

Quote from: fillippone on July 04, 2023, 03:27:03 AM

I don’t know how I missed it, but Jameson Lopp has a resource page about Lightning Network.
LIGHTNING NETWORK RESOURCES

You can also add this resource to the list: Lightning Network Stores

That has been done.
Thank you!

Out of mind

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Activity: 672

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I like to treat everyone as a friend 🔹

Unlocking Bitcoin’s Potential: Santander Report Reveals Lightning Network’s Game-Changing Scalability
In a groundbreaking report released by Santander, one of Spain’s premier financial institutions, the transformative power of Bitcoin’s Lightning Network (LN) is unveiled, offering a solution to the long-standing scalability issues associated with the world’s leading cryptocurrency. This report, accessible to both crypto enthusiasts and the wider public, examines how LN’s decentralized network enables faster and more cost-effective transactions, poised to revolutionize the financial landscape.
Traditionally, Bitcoin has faced criticism due to its limited capacity to handle a significant volume of transactions in a short period. Visa, for instance, can process over 20,000 transactions per second, while Bitcoin’s blockchain lags behind with a mere 5-7 transactions per second. However, Santander’s report sheds light on the Lightning Network’s transformative capabilities, proving that it holds the key to overcoming this limitation.
https://www.google.com/amp/s/thecurrencyanalytics.com/bitcoin/unlocking-bitcoins-potential-santander-report-reveals-lightning-networks-game-changing-scalability-57755.php/amp

Sandra_hakeem

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Goodnight, ohh Leo!!! 🦅

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fillippone

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I don’t know how I missed it, but Jameson Lopp has a resource page about Lightning Network.

LIGHTNING NETWORK RESOURCES

Quote

The Lightning Network is being developed as a means of making bitcoin payments faster, cheaper, and more private. It's still experimental and reckless to use for large amounts of money. The goal of this page is to provide an index of curated high quality educational resources and information about the network to make it easier to educate yourself.

Adding to OP as well.

cygan

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Activity: 3304

Merit: 8633

icarus-cards.eu

another step in the direction of education and integration of Bitcoin and ln

Quote

A decentralised system to process high volumes of instantaneous micropayments and provides a solution to the scalability problem as it can support millions of transactions per second.

https://www.santander.com/en/stories/lightning-network-blockchain

Quote

A type of financial asset, the technology underpinned by a technology with great potential, that increases security, traceability and transparency in data networks and systems.

https://www.santander.com/en/stories/what-is-bitcoin

DooMAD

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Leave no FUD unchallenged

Quote from: cAPSLOCK on June 28, 2023, 07:44:02 AM

Quote from: n0nce on June 24, 2023, 07:44:21 AM

You're overblowing apparent 'issues' exponentially again, Franky.
Lightning is not perfect and is certainly not suited for every application, but there is no need to freak out over non-issues for the tenth time.

Wait. Has it really only been ten times? Seems like more.

Maybe just the tenth time in this particular topic? It's honestly hard to keep track when he's having a meltdown about "subnetworks" (or, for sane people, "layer 2") in pretty much every thread.

cAPSLOCK

legendary

Activity: 3766

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Note the unconventional cAPITALIZATION!

Quote from: n0nce on June 24, 2023, 07:44:21 AM

You're overblowing apparent 'issues' exponentially again, Franky.
Lightning is not perfect and is certainly not suited for every application, but there is no need to freak out over non-issues for the tenth time.

Wait. Has it really only been ten times? Seems like more.

n0nce

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not your keys, not your coins!

Quote from: franky1 on June 22, 2023, 09:15:25 AM

Quote from: cygan on June 22, 2023, 06:15:00 AM

it has now been leaked and also confirmed by the tweet below that the Binance exchange is now working on the implementation of ln. according to this, deposits and withdrawals will then be offered via the lightning network and thus be processed faster

https://twitter.com/binance/status/1671042638592589826
https://u.today/bitcoin-lightning-network-coming-to-binance-heres-proof

goodluck.. when they realise they have balance in binances channels of mansion amounts. but LN routing paths only succeed with pizza amounts

if only people could try for once to observe the limitations of LN to notice that you cant just move $2k+ around LN freely.

This statement is highly biased by the assumption that people only ever deposit or withdraw $2k+ to / from a centralized exchange.
Last I checked, a big portion of Bitcoin buyers actually like dollar-cost averaging, with the one big issue that they cannot economically viably withdraw their $10 daily buy if they have to pay $5 of on-chain and exchange fees every time. Therefore, they are stuck with having to accumulate BTC in the exchange wallet and withdrawing once a month or so.
Lightning deposits and withdrawals allow them to instantly retrieve their funds and get custody of them as quickly as possible.

Quote from: franky1 on June 22, 2023, 09:15:25 AM

locking a hot wallet into a channel.. pfft. but moving largish amounts out of that channel through other channels will be the head banger against a rock. when they realise the channels along the route cant facilitate that amount of liquidity

If I want to quickly move thousands of $ of Lightning balance on-chain, I just close channels. Only one on-chain transaction per channel, and I'll have my funds on-chain in the next block. You're overblowing apparent 'issues' exponentially again, Franky.
Lightning is not perfect and is certainly not suited for every application, but there is no need to freak out over non-issues for the tenth time.

Quote from: DooMAD on June 22, 2023, 12:44:16 PM

Quote from: franky1 on June 22, 2023, 09:15:25 AM

*distracting but largely incomprehensible noises*

Planning ahead can potentially negate liquidity issues. Just because Chivo was poorly planned and executed, that doesn't mean every new adoption will be.

From what I can tell as an 'outsider', Kraken's Lightning integration did not have any substantial issues back in 2022. Bitfinex did it successfully, too.

franky1

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firstly el salvador was not the only incident. its the only one you want to admit to
there were other projects toolike trying to get nigeria to be LN friendly but they have not fallen for the false promotions
also funny how coinbase a sister company to blockstream/BS cartel are staying as far away from lightning as possible.

heck you just have to look at what the regulators are saying about routers and AEC's to know what their suggestions about LN is

it wont be me single-handedly taking LN down. it will fall all by itself.

right now other subnetworks that have bridges to bitcoin have more value locked to it in just 2 years of operation compared to LN's 5 years. so its already falling short.
LN 5.4k avalanche 6.3k as just one example. there are so many other subnetworks people are prefering. which just goes to show LN has lost. and no the other networks are not held up by 2k of locks by certain businesses sybil loading channels but not using channels just to fake a lock balance total, thats a game LN is playing though

yep many people that are peed off with bitcoins shinanigans(meme bloat and fee mania) are by-passing the LN preaches of salvation/the promised land.. and instead lock their value to use other subnetworks and play around with other units of measure on. thats how bad LN's promotions have gone.

but you seem too blind to see the flaws. that you have stopped even caring to want flaws fixed. as long as people buy into your god worship shit, you are happy.
your games dont need me to pull your stupidity apart. you do all that by yourself with your over ambitious promises that never come to fruition. your worship that doesnt change things. and your idolation that doesnt reap in rewards for you.

but i do laugh how you pretend to play fortnightly games of pretending to adore one thing then hate it then adore it again depending on your recruitment success/failure rate

goodluck with that. but so far for the last 7 years of your games you are still penny pinching small income so even you have to admit your games are not covering your living costs.. so sooner or later even you will have to get a real job

DooMAD

legendary

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Leave no FUD unchallenged

Quote from: franky1 on June 22, 2023, 09:15:25 AM

*distracting but largely incomprehensible noises*

Planning ahead can potentially negate liquidity issues. Just because Chivo was poorly planned and executed, that doesn't mean every new adoption will be.

But feel free to keep highlighting that one incident for the rest of forever because you don't have any other arguments. It doesn't look desperate at all. Honest. Roll Eyes

What do we reckon the odds are that fruitloop1 will still be trying to singlehandedly take down LN in 10 years? He's clearly stubborn and belligerent enough. I can see that ongoing disaster from a mile off. Cheesy

franky1

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Quote from: cygan on June 22, 2023, 06:15:00 AM

it has now been leaked and also confirmed by the tweet below that the Binance exchange is now working on the implementation of ln. according to this, deposits and withdrawals will then be offered via the lightning network and thus be processed faster

https://twitter.com/binance/status/1671042638592589826
https://u.today/bitcoin-lightning-network-coming-to-binance-heres-proof

goodluck.. when they realise they have balance in binances channels of mansion amounts. but LN routing paths only succeed with pizza amounts

if only people could try for once to observe the limitations of LN to notice that you cant just move $2k+ around LN freely.
oh well we wil just see another liquidity bottleneck event confusing people and businesses much like the chivo LN incident a couple years ago.. when will people learn

locking a hot wallet into a channel.. pfft. but moving largish amounts out of that channel through other channels will be the head banger against a rock. when they realise the channels along the route cant facilitate that amount of liquidity

yea its a free promo/advert hype campaign to try to win new customers using binance instead of exchanges that dont offer the feature. but when people start to use it and realise the headaches and broken promises of it. they will learn fast

when you have a single carriage passenger train that has a capacity limit using rail lines that are broke in places.. and suddenly you want to say a superfast haulage train is to use the same broken tracks. you can see a disaster coming a mile away

cygan

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icarus-cards.eu

it has now been leaked and also confirmed by the tweet below that the Binance exchange is now working on the implementation of ln. according to this, deposits and withdrawals will then be offered via the lightning network and thus be processed faster

https://twitter.com/binance/status/1671042638592589826
https://u.today/bitcoin-lightning-network-coming-to-binance-heres-proof

cygan

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icarus-cards.eu

Voltage, a provider of lightning as a service (LaaS), is partnering with Google cloud to expand Bitcoin and lightning node hosting capabilities globally. the collaboration aims to optimize money transfers, global customer reach and microtransactions, thereby reducing costs.

https://bitcoinmagazine.com/business/voltage-partners-with-google-cloud-to-expand-lightning-solutions

cygan

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icarus-cards.eu

Quote

Core Lightning⚡v23.05: "Austin Texas Agreement (ATXA)" is now live! Check out the new release, which introduces:

→ PSBTv2 support
→ New RPC and GRPC commands
→ Default blinded paths
→ New options for fee rates

https://blog.blockstream.com/core-lightning-v23-05-austin-texas-agreement-atxa/

Wind_FURY

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Personally, I believe NFTs and BRC-20 should be those pushed out of the blockchain, but Binance's decision of enabling Lightning transactions is also a positive, and the only alternative for those users who don't like HODLing shitcoins.

Quote from: fillippone on May 08, 2023, 02:36:04 AM

When there is an incentive, we can resort to lightning network.
We had a record net opening of channels, and record of Lightning nodes.

Incentivization is what keeps everything in the network stick together. If truly Ordinals is an "attack", or if it's currently used as an "attack", then Bitcoin miners and Lightning node operators who collect routing fees are being incentivized by this "attack". Someone will lose money first before the Bitcoin network fails, IF it fails. Everything is working as it should be.

fillippone

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The network fees drama has been resonating in the Lightning Network.
All the network metrics are on the rise:


	Node operators have been opening channels like crazy recently Pages: « 5 6 7 8 9 10 11 12 13 14 » Bitcoin Forum>Bitcoin>Bitcoin Discussion Jump to: © 2020, Bitcointalksearch.org

Topic: Lightning Network Observer - page 10. (Read 14143 times)