Topic: Lightning Network Observer - page 9. (Read 14143 times)

It's not that early. I mean, lightning began in 2017. Six years and two bull markets have passed since then.

It's both already.

That's very debatable. In terms of BTC, lightning has ~5,000 BTC, which is ~$150M. Monero, with a circulating supply of 18M XMR, has an equivalent of ~99,447 BTC. It's much better in terms of anonymity set.

Late? I believe not, ser. It's still very early days for Lightning. We don't know what LN can really be for the users yet, in my opinion. Is it merely for fast, cheap, peer to peer transactions? Or could it be a privacy layer for Bitcoiners? I read a write up saying that Splicing was the answer to make Lightning more private.

I also believe that there will be larger demand for more channels and liquidity in Lightning - IF it were to become Bitcoin's own privacy layer. Because LN has the potential to gather the largest anonymity set, it could be more private than any "privacy-only cryptocurrency network".

Glad to present all the new shiny rgbex.io: an explorer for the world of Bitcoin Finance #BiFi and smart contracts on #Bitcoin & Lightning - now supporting all the new #RGB features from the latest v0.10 release.

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https://twitter.com/rgbexio/status/1680991441785348097?t=WBApCqsgvItoBh0jSnPjCQ&s=19

Yeah, that's a lot. I wonder if Kraken LN fees are lower.

According to this, between 200 and 13,000 sats, which for lightning standards is pricey, but hey. It's Binance. 

How much is the fee to withdraw BTC-LN from Binance? 0 sats?

They're a little bit late, but it's better late than never. I'm surprised it took them so long to integrate it since Binance is the biggest exchange.

after Bitfinex and Kraken, Binance is the next major exchange that has now successfully completed the integration of lightning network for deposits and withdrawals

https://www.binance.com/en/support/announcement/binance-completes-integration-of-bitcoin-btc-on-lightning-network-opens-deposits-and-withdrawals-eefbfae2c0ae472d9e1e36f1a30bf340
https://cointelegraph.com/news/binance-integration-bitcoin-btc-lightning-network

saw no decrease in success rates becasue they closed 2 channels that were being unused and just locking up value thats done nothing.. so ofcourse it wont affect success rates if the channels they closed were never used in first place

but atleast its now showing a better more honest display of liquidity. rather than shill capacity that was never used

the reason for the biggest drop in capacity to date (in this case around 590 BTC) is the closure of 2 major ln channels by River


https://twitter.com/Leishman/status/1678778742511136770

Coinfinity, an Austrian bitcoin broker, has recently integrated the Lightning Network into its services, allowing customers to make bitcoin purchases with reduced transaction fees and quicker processing times.

Thomas Burgstaller, Chief Growth Officer at Coinfinity, highlighted the significance of this integration, stating, "Being this early to market is an important innovation step for us at Coinfinity, and Lightning itself is an essential foundation for the global adoption of Bitcoin as a usable monetary system."

The Lightning network, a Layer 2 scaling solution, addresses the limitations of the Bitcoin blockchain by facilitating faster and more cost-effective transactions for smaller bitcoin amounts. By leveraging the Lightning network, Coinfinity aims to enhance Bitcoin's usability as a competitive payment system, surpassing the transaction volumes of major card networks such as VISA or Mastercard.

Customers of Coinfinity can gradually access Lightning features through the company's web portal and mobile app for iOS and Android — currently, users can utilize Lightning to buy bitcoin, after which it will be integrated into the savings plan feature and then the selling function.

This integration not only offers convenience to users but also contributes to the wider adoption of Bitcoin as a viable means of payment. The move comes as Coinfinity seeks to optimize transaction efficiency and reduce costs associated with traditional bitcoin transactions.

Source:
https://bitcoinmagazine.com/business/austrian-bitcoin-broker-coinfinity-integrates-lightning-network

Is actually a nice one specially there technological solution which is designed to solve glitches associated with Bitcoin by introducing off-chain transactions without the need for block confirmation on the blockchain. And they also make transactions faster. Lower transaction fees. Increased scalability. Greater flexibility.

This is finally good news, I always use Pocket to make a small accumulation plan but honestly onchain it takes a long time, often 1 or 2 days pass from when you made the transfer and if you need bitcoin immediately it is not the ideal service, but now with LN the waiting time should be drastically reduced and the fees will certainly be lower too.  Always at the top Pocket.

the PhoenixWallet which allows you to store your Bitcoin on the lightning network itself, has implemented "splicing" in beta and other great features!


https://acinq.co/blog/phoenix-splicing-update

Just wanted to write something here today.

Lightning is really working so well!  

I got fed up with Twitter during Elons most recent... whatever that was... and decided to go back over to Nostr for my doomscolling addiction.  Early on I was very excited about Nostr (back in Dec 22) but it was nothing more than a Bitcoin "pleb" echo chamber.  And the interface and experience was fairly rough around the edges.

Well, that is no longer the case.  There is tons more content there now, and it is no longer just the monotonic  Bitcoin confirmation bias machine.  And the clients have been developed to a much greater degree now.

So two points apropos to this thread.

1.  Integrated lightning is working SO WELL.  If you have not seen it, what the protocol has done (along with the app devs) is integrate something along the likes of a "tweet like", but it is called a "zap".  In this case you can send the poster sats if you like their post.  Plain old likes are there too but when you really mean it...  for example:



Gigi has received a handful of regular likes, but another user has sent him 11 satoshis as a form of approval as well.  I need to dig into the numbers some and see if my theory holds up, but I believe Nostr has probably increased the traffic of LN micro-payments quite a bit.  And it just WORKS.  It is easy to set up, and easy to use.  Crazy easy.  You can send someone 1 sat.  Or 21, or 2100, or a million (as @jack was doing for a while).  You can easily set it up with a custodial wallet like WoS but you can also set it up using non-custodial wallets.  And it is NOT hard to set up or use.  It just uses LNURLs currently, but when we get to bolt12 it's gonna be even better.

2.  This synergy is what is going to make lightning really work.  This is the first real world proof of concept in production of a while new concept being enabled by lightning.  And it is catching on!  Yes we have been able to buy giftcards with lightning, and we can "stream sats" for podcasts, but those uses are still very niche.  THIS on the other hand is drawing in new users.  Political folk tired of the censorship tug of war on centralized social media platforms are starting to come to Nostr... and they are setting up lightning wallets and zapping each other.  New users to bitcoin.  Some who have never used the base layer at all.

This is honestly the first real virtuous circle use of the LN.  A real and thriving circular economy that is also a completedly new use case that never existed before.  And it is not only simple to use, keeping the bar for entry into this low enough for non techy folks, but it also will turn on a LOT of light bulbs for peoiple who have never thought much about what bitcoin is...

"You mean you can send me money... but there is no middle man, and once I have it it's mine, and I can do anything with it I want?  And no one can stop it?"

All of this happening RIGHT at the time where Elon and Mark are doing their stupid dick measuring contest over their closed, broken, sad attempts of becoming the wechat of the west?

the non-custodial service Pocket Bitcoin integrates the lightning network in your pay system.
Pocket allows you to buy Bitcoin once or recurringly from your bank account and receive your coins directly into any self-custody existing Bitcoin wallet of your choice.


https://pocketbitcoin.com/