Topic: Lightning Network Observer - page 12. (Read 14258 times)

Well...  I will post it here since a few of you may have just noticed you have a few more sats in your onchain wallets again.  

Jeed, has joined his mirror image Deej in the abyss.

It was caused by nothing your resident troll could wag his finger at.  No flaws in either LND or CL.  Just the foibles of a man, who try as he might, is apt to do silly things.  Well Deej failed because of a fritzed HDD.  While Jeed was slain by his master accidentally posting his private keys on an image sharing site.  

Yes.  You read that right.  And it's a long story in which the hero thought he had CROPPED the funny image he was going to post somewhere but instead uploaded both of his monitors.  The OTHER monitor had a notepad open with the list of LND and CL seeds (and passwords in at least one case!) he has used.

The image was deleted from the sharing site within moments of having been posted.  But we know all about how "deleting" works nowadays.  Perhaps some admin will see the image and think he's struck it rich.  Luckily for me I know my way around both LND and CL fairly well now.  In fact let me take a moment to praise the power of the lightning-cli command (CL).  What a powerful set of tools there! I was able to use to get a running list of my "close_to_addr": "bc1qnevergonnagiveyouupnevergonnaletyoudown", for each channel.  and swept the funds off right away.  In fact closing down the node was very easy.

I am proud to say in spite of my ridiculous error last night I do know hopw to work both node implimentations quite well, and have well formed opinions of each.

Bottom line?

LND is more widely used, and for what ever reasons routes better than CL for the most part.
CL is just better software all the way around. The command line management is fantastic once you learn it.

But they are both great implementations, I think.  Today I am fighting off the urge to spin up an Eclair node, which I have not done so far... but yeah.  I think the roller coaster of me running lightning nodes might need to stop for a moment.  However running the little BTC node on the Raspberry Pi will likely continue for some time.  I don't need the hard drive yet.

Oh well.  It's been fun.  And I will likely still hang around here.  Who knows?  Maybe I will spin up another node eventually.

Indeed the teams are really working to ensure their is improvement in Bitcoin-lighting network and the number of registered has increased because so many people has benefited from the cheap rate.

We are already winning:
Bitcoin Lightning Network is 1,000x cheaper than Visa and MasterCard: Data

LN is proving an excellent layer for transactional bitcoin:


Just think about what happened in El Salvador. The only presence of LN as an alternative way of sending money, made wire transfer companies, eating up to 30% in fees to slashes the fees for remittances.

Just like Satoshi's Genesis address (it's even more futile there). These donations make zero sense.

[email protected] has been receiving a torrent of 21sat payments.  Like he needs any more!

MicroStrategy integrates BTC-lightning addresses into company emails. this means that any employee can send BTC to the recipient quickly & inexpensively via email address

https://www.coindesk.com/tech/2023/04/18/microstrategys-saylor-integrates-bitcoin-lightning-address-into-corporate-email/

the new Lightspark platform is designed to provide infrastructure specifically for large enterprises to enable a reliable and efficient payment service. this not only simplifies payment processes for companies, but could also drive acceptance for the Lightning network as the internet's open payment protocol.
a further step in the right direction

isnt it funny how coinbase has avoided LN for YEARS,,
and then when some people finally speak up and note that it has.. that this week coinbase finally wants to talk about it.. oh and yea they only said it because MANY people have been saying how coinbase has stayed away from LN for years

i do laugh that you think its franky vs 12 idiots .. where you lot like to ignore the other THOUSANDS of people in many topics about bitcoin scaling that are peed off with bitcoin fees and lack of transactions per block

so while you want to pretend "just franky".. reality shows there are thousands of people talking about it..
and many other subnetwork bridges to bitcoin prospering better than LN has.. i dont even use those, but the fact they exist and have bettered LN in a 3rd of the time is very revealing

just a pitty you didnt get out of the cave to see the wider world to actually articulate the whole situation

and coinbase said 'we will', which is as vague as they said 'we will' about other crapcoins
promises or future "we will" are not the same as actual proof or utility ability

it is funny how all the time all everyone hears is from the DCG projects is "well will soon, just be patient"

Well, that is the most negative way to see it.  And you could be right.  The dude might just be a loser.

And he was just lucky to have been the President of PayPal, and eventually a Meta VP.  And I do not say that sarcastically... I do not think being a C-level person at a huge corporation means you are smart more than it means you are driven, and possibly a sociopath. lol.

But LOTS of people at this forum were shitcoiners before they finally realized Bitcoin IS significantly different.

Yeah.  I do think "if you can't beat em, join em" might be bullish.

Is it bullish when people with significant failures on their resume tread the "if you can't beat them, join them" path?  I'm not wholly convinced on that one.

---

Oh, I see.  Because you've now finally realised that telling people what they "aren't allowed to do" was never going to work (took you long enough), your new ploy is to helpfully suggest they start from scratch?   

So, before they begin this total redesign, should they consult with you first on what design choices you would personally approve of?  After all, it's vital that we gain your "consent", right?  I guess I just keep forgetting that all these devs exist solely to bow to your demands.  For someone who doesn't code or have any skin in the development game whatsoever, basically a glorified armchair-pundit with no relevant experience or qualifications, you sure do think highly of yourself.   


Sometimes I wonder if your ego could be any larger.  And then you write another post.

A little bird clued me into something...

https://www.lightspark.com/



This company  is producing a lightning SDK and set of APIs (I think?) for enterprise use.  Multiple customer targets, but likely banks, and busy commerce.

In itself this is interesting.  And bullish because of the serious dev going on in the lightning space...

But the CEO.  David A. Marcus.  He was Facebook's Chief Shitcoin Officer.  The guy behind Libra and Diem.

Seems he saw the light?  That's a pretty big shift going from trying to be "the next Bitcoin" to diving all the way into developing a Bitcoin Protocol/Lightning Network Protocol (BP/LNP) services company.

Uhm, what? Have you been living under a rock or what?

https://beincrypto.com/coinbase-will-integrate-bitcoin-lightning-network/

So, now you also reject SegWit/Bech32? Along with Taproot, seed phrases, LN and god knows what else...

Franky gonna franky. You don't want any kind of evolution (unless it's approved by Franky). Gotcha!

over the years i have gave lots of little tid-bits of idea's for you lot to roll with to fix things. but your snake oil mindsets didnt think of it as suggestions you seen it as threats to your utopian promises and you took it as an attack on your promotions.. because thats all you lot care about really

heck many people in this topic have said about issues and you lot just pretend its user error or pretend that its someone else fault. brushing things under the carpet. afraid to admit the problems exist as it hurts your promotion efforts.

so the real question about your flawed network.. do you have anything new to bring to the table apart from promoting "delay bitcoin because we want to recruit people elsewhere and syphon funds out of them because we are greedy parasites"

have you forgot why bitcoin was invented. do you even understand what bitcoin brings to the table that your non consensus non auditable network does not. do you even know why bitcoin was made to be something different to the wall street parasite game

as for whats new.. as already said so many people are sick and tired of your groups mantra of "bitcoin should not scale anytime soon because LN is the solution".. so much so that MORE value is actually being locked to other bridging subnetworks more so than LN because many people have seen and experienced how broke LN is
even coinbase, sister company to lightning-core does not want to use LN.. take that as a big hint.. as for other features designed just for allowing gateways to LN.. again even coinbase as custodian of grayscale trust fund doesnt want to use bech addresses to secure large funds. heck even bech32 invetor for many years has not offered a donation address in his own creation. even the LN devs still are begging for donations on legacy. so not only avoiding bech32 but also avoiding LN uri..

seems you are yet to see the reality.
people are sick of the mantra you like to repeat. and yet because you lot repeat it i then have to wade through your crap to re-inform people of the issues. the flaws you lot keep trying to pretend dont exist
yes i know you dont like me popping up and poking holes in your promotions. i know it ruins your plans. but other people do actually care about risk awareness and dont want to be sold broken promises and dreams that never come to reality. they dont want to be told just wait another 7 years, keep your funds locked into crap systems for years and just wait

you lot cant keep just brushing your systems issues under the carpet and then say that bitcoin should only process IF your crap system succeeds as that is just insane proposition

so realise outside of your echo chamber bubbles of just a dozen indoctrinated snake oil sales men. realise THOUSANDS of people are peed off with your silly niche subnetwork diverting people away from bitcoin progression

so much so there are many other subnetworks overtaking your silly little fad called LN

..
and so instead of just trying to recruit idiots into your crap network thats flawed. either accept its broke and start a new subnetwork that has better design to meet your niche needs. or fix the flaws to then have something people would use as a niche. because right now your just dragging a dead horse down a dirt track trying to see how many flies you can attract

So what's the 'fresh meat' here then? The almost decade-old, countless times busted 'big block' idea? It has become irrelevant many years ago, even before Lightning started.
Do you have anything new to bring to the table except complaining?

Because writing down a phrase is something you learn to do from primary school, whereas storing a .dat file, which is represented in a non-human readable format, is more difficult and introduces more risks?

In 2010, you were told to back up a file, which from an average Joe's perspective is more easy to lose access to, and more difficult to protect. In 2023, you're told to write down your back up in a much more safe and easy manner, before you even begin using the wallet.

One of the problems with lightning is unfortunately that; back ups. With the current model, it requires technical competence to back up your node safely.

Says the person who's done nothing in the last 7 years but to whine about "true consensus".

all stuff said by cryptosize has nothing to do with wht LN is a failure.. he wants to ignore LN problems

and he thinks people need to wait another 7 years
he has yet to approach the period where he realises MATH and LOGIC shows LN has a liquidity bottleneck problem the more popular it gets. thus wont become popular due to its design flaws

oh well give him 7 years for him to figure it out and realise he wasted a decade on hopes and dreams and broken promises.. promoting crap

Internet (ARPANET) also worked from day 1 (back in 1969). Was it user-friendly?

You don't really get why a domain name (DNS) is much easier (and thus makes internet usage more user-friendly) to remember than an IP address? Really?

You didn't need BIP39 back in 2010, because a pizza cost 5000 BTC. Most people treated it like monopoly money. Hell, they didn't even care about securing wallet.dat files properly.

You can even store your private key in raw binary format (256 bits of ones and zeroes). Does that make it user-friendly?

TCP/IP and Bitcoin are very similar in terms of constant evolution and adopting a layered approach (something that shitcoiners/big blockers tend to hate for some strange reason).

If you don't believe me or don't get it, I don't have time to try to convince you, sorry.

BTC/LN naysayers remind me of this brilliant guy.

Let's talk again in 2030. I'm sure franky1 will find yet another reason to complain by then, even if adoption skyrockets to 90% of the global population.

Some comments to the evolution happening in the LN world, according to BitcoinVisuals.

In general it looks positive again, after a stagnating 2022:

- Network capacity from Januar to April rose from 5 to almost 5.5 kBTC
- Node count is also up, from 17000 to 18000 (1ml shows "only" ~16400, but there is unfortunately no historical view)
- But the channels count seems to be downtrending, from almost 80000 down to 75000

Thus the channel per node count is going down constantly, from mid-2022 on.

I wonder if there an explanation for that trend. It seems quite stable, so it's probably not simply "one big node with lots of channels taken down". If you look at the Channels per Node stat (on the left in the low part of BitcoinVisuals), it seems definitely that this trend is driven by the large nodes. The 10% largest nodes had an average of 18 channels in mid-2022, now this value went down to 15, while all other groups stayed constant. It seems almost that the network is slowly again decentralizing after a period of centralization in 2021/22 ... which is of course also positive.

The Coinbase announcement could however reverse this trend a bit perhaps, as I expect them to build up a quite well-connected node with lots of channels. I'm quite happy with the announcement though - it's the second big exchange supporting LN after Bitfinex, so we may finally see "LN arbitrage" becoming a thing (something that was discussed earlier as a potential "killer app").

I don't really get why you think storing some random words is so much more user-friendly then storing a wallet.dat-file, or PKs.

And I didn' say "we don't need BIP39", you might need it, even I might,
I didn't say it's not useful.

All I said was, that we didn't need it in 2009-2010 to store our keys, there were other ways.

Even franky didn't say bitcoin did not evolve, he just said it worked from day1.
You were the one questioning that.

And why is that?

Because franky1 is set in his old ways and doesn't trust BIP39 enough to convert properly his seed phrase into the private key (just like you don't trust LN closing properly a channel and settling your BTC balance on-chain).

Typical. Franky gonna franky!

I'm afraid this is a personality issue you need to resolve with a psychiatrist and has nothing to do with Lightning, Bitcoin or BIP39. Glad I helped!