Topic: Lightning Network Observer - page 13. (Read 13809 times)

LN is far from a perfect solution.
Liquidity, routing and interface issues still make the usage of LN, albeit on a noncustodial way, still difficult for the average user.
Yet, I think it is an huge success, as the race is a marathon, to be won over the decades, not a sprint to be won in 6 years.

Lightning is complicated and not a very good options for the average user, that part I can understand very easily and honestly think the exact same.
However what are the flaws in the system that you talk about? Are those security issues or more usability issues?

Imagine TCP/IP, the most successful internetworking protocol:

I absolutely agree, each of us must respect our own times and running a lightning knot is not that easy.  The simplest solutions are plug and play ones like Umbrel, Embassy, ​​MyNode but they are not very stable.  As for Blixt it seems to me a little too immature, better breeze.

imagine if in 1997 there was a pre release of windows 98. but where you needed to run unix+dos+win98 just to get win98 to work. where it was not just 1 CD that just installed by itself.. and where 7 years later it still was not just one install

do you think window would have been as popular

imagine if win98 had ways to lose files and corrupt data and allow others to steal data and microsoft 6 years later didnt patch it. nor patch the updates(me/xp)
do you think people would have wanted windows ME, XP knowing they were just more colourful versions of the same flaw.

well LN has had 6 years of chances. but the flaws still exist and the more popular it gets the more flaws appear.

but all i see is lemmings promoting LN like its gods gift to currency even when el-salvador as a whole country tried it for a couple months and dropped it quick. and even now nigeria is not really pushing for it even though from all lemmings speeches, nigeria is supposed to be big on LN right now.. but reality is, its not

i think its time the lemmings realise that they are pulling a dead cow up a mountain. and realise their farming practices are not going to market, or if observed at market. get trashed soon after

there are many other subnetworks that peg btc far younger then LN that have gained more btc liquidity locks and actually move value with more secure locks than LN..
LN has failed the test of time, failed the test of monetary policy, failed value utility, and failed the test of security.. its time to accept it and make a new network without the flaws for your niche utility offerings. and stop pandering a decaying cow to a market that can smell that it stinks

people want fresh meat or meat they can trust. LN is and does neither

I had been thinking of responding to your post from about a month ago (mendace), and then I kind of forgot.. and still I had been doing a bit of searching around regarding what I wanted to do next, and surely there may be some time down the road when I end up wanting to run a lightning node.. or even a kind of easy-peasy (already mostly set up lightning node), but I feel that I need to walk before I run.. including probably running an actual bitcoin node first, prior to attempting to run a lighting node (even if it might be an already set up or an easy peasy version of a lightning node)... so in some sense, each of us likely have to attempt to go with our level of comfort - including that I have some other things that I am trying to take care of in terms of both my personal life and obligations and also just some other things that I am trying to take care of in terms of some of my coin management that has to do more with main chain ideas of locations and even some joint custody relations for some of the coins.

In this other post, that I link here that I just made in the BlueWallet Discussion thread, I described that I had at least downloaded both Breez and Phoenix in order to move my BlueWallet lightning network coins over to those two wallets.. and in that post, I mention how I am considering that might add Blixt Wallet onto my experimentation with lightning network wallets later too.. perhaps? perhaps?

I think you must be unfamiliar with this speakers sense of humor.

As far as I know it’s a privately organised event, entirely sponsored by a (wealthy) private individual.
If I am not mistaken the first edition took place right after the PlanB Lugano event last year.

Interesting pity that the congress was closed to guests only and not to the public otherwise I would have gone willingly.  There was really a lot of quality.

Yet another WEF trojan horse?

Payment privacy is "unimportant stuff"?

But how can you stand his incredible accent!

(just kidding... just kidding... I know I know)

Zucco's talk provides interesting insight into the future of the Lightning Network and its potential impact on the Bitcoin industry. He discusses the various players in the Lightning scene, including Slashtags, Nostr, and Greenlight, and highlights the relationships between them.

The Lightning Network has the potential to increase the speed and efficiency of Bitcoin transactions, making it a promising solution to the scalability challenges facing the Bitcoin network. However, there are still some challenges to overcome, such as user adoption and network security.

My Opinion Overall, Zucco's talk was an insightful and informative look at the state of the Lightning Network and its potential impact on the Bitcoin industry. As the Lightning Network continues to grow and gain traction, it will be interesting to see how it develops and how it impacts the broader cryptocurrency ecosystem.

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Oh, I can imagine that credit card war room getting hot! It's always a tough pill to swallow when a gaming software house steps in and steals the show. But that's just the nature of the game. As for regulators, let's just say they might need a bit of a crash course in the gaming industry.

Either way, it's clear that the landscape is changing and it's up to the banks to adapt if they want to stay in the game.

A very interesting presentation by Giacomo Zucco, her last week in Viareggio:

The State of Lightning Network - Giacomo Zucco @ Lightning Summit Viareggio 2023


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Please note this is a copy of the streaming session, so quality is not great.

Slides are available here.

Interesting, too bad I'm not a fan of Zebedee.  I don't like their LN wallet because it's custodial and because there are too many things that could do without it.  If only they would commit to continuing the OBW fork

I am now wondering what happening in the credit cards war rooms,  where they are discussing how a gaming software House basically stripped their business away from them.

Banks will realize tomorrow.
Regulators cannot even understand what we are talking about.

I fixed your (above) quoted image cygan.

You must have had been drunk when you posted it..

hahahahaha

Substantively, I like that message since it sounds like a good development in terms of making lightning payments easier and more widely available.

https://twitter.com/BTC_Archive/status/1640719353414033408

and here the official announcement👉https://blog.zebedee.io/zebedee-borderless-payments/

first ever Lightning network conference in Da Nang (vietnam) happens this week (march 23-24)
for more info visit: LIGHTNINGCON VIETNAM
among others the following interesting speakers are present: Jimmy Song, Elizabeth Stark, Dominik Weil and more

funny part is that i have been talking about scaling transaction counts onchain before the forkcoins existed

and by scaling.. you have no idea what that word means.

you shout the word "bigger blocks" while ignoring actual options.
i have said even years ago about a block that SCALES
heck i have en said about scsaling transaction counts within the current limits too

then you for years have been saying anyone that wants scaling wants LEAPS of blocksize(facepalm)

as for who does or doesnt want something different. you want people to obediently follow core roadmap and want anyone else suggesting anything else to STFU and F**k OFF
so its you that doesnt want things to change away from a corporate plan

heck for years there have been suggestions made about your favoured subnetwork. and you have screamed how people should shut up and stop talking abut x,y,z

as for other bitcoin things i have said about fee mechanisms that only punish the bloaters. and YOU are the one that shouts how everyone should pay more, whilst letting the bloat continue.  onchain or use another network

heck if its not cores sponsored roadmap, you want all those against it to use other networks

yes YOU have screamed your version of scaling is: "100mb blocks asap" as your argument to say no to scaling

yet many many people including me have been saying about scaling as small but regular adjustments to increase transaction count.. which is the true definition of scaling
also fee mechanisms to reduce spam to allow more genuine transactors. and fee mechanisms that only punish the bloat/spammers to punish the bad and incentivise the good for having more transaction opportunity without impunity for being a lean non spammy user

you cry that removing spam is censorship when reality is the spam bloat censors out genuine transactors

you have things backwards
...
as for lightning. its not fit for purpose.
basic common sense and maths shows the more users on it the more it actually bottlenecks and fails

but rather the fix the flaws you and your idols just want to waste YEARS advertising its dream to people rather than fixing the flaws to make the dream a reality.


lightning has failed so many physics/math/economic policies of effective monetary policy that lightning would have to go backwards and start again if it was to even try living up to its promises

however bitcoin does not need to go backwards. just needs to stop future crap continuing, and concentrate on going forward in a proper scalable way that works and has security precautions of nodes first activation second. to secure the network as a priority. not secure human devs god-mode title