Lightning Questions - page 2. | Bitcointalksearch.org

cellard

legendary

Activity: 1372

Merit: 1252

Quote from: mindrust on January 20, 2018, 08:40:14 AM

LN is already up & working btw Cool

https://lnmainnet.gaben.win/
125 channels / 65 nodes on mainnet now.

Still, don't be #reckless wait for a stable idiot proof release.

There are people buying real, physical things paying with lightning already. Take this guy for instance, he paid $2.50 to fill the channel:

https://www.reddit.com/r/Bitcoin/comments/7rkunw/lightning_the_future_just_arrived_at_my_doorstep/

The problem is when you run out of money, you must refill the channel with another on-chain transaction, so this incentives people to put as much money as possible at once on the channel, something that may not be viable for most people. For example if you want to buy a router, let's say it costs $150 bucks.. well most people isn't going to put more than that, so you would already spend all of your channel's funds at once not saving money.

I wonder he did get such a low transaction for the on-chain one tho, $2.50 is super low even if you use segwit. He must have gotten lucky with a period of low mempool activity.

mindrust

legendary

Activity: 3276

Merit: 2442

LN is already up & working btw Cool

https://lnmainnet.gaben.win/
125 channels / 65 nodes on mainnet now.

Still, don't be #reckless wait for a stable idiot proof release.

HeRetiK

legendary

Activity: 2912

Merit: 2066

Quote from: Enre on January 19, 2018, 10:29:23 PM

[...]

I heard Lightning allows sending across extendible networks, does that mean you can send through a friend's open channels?

Yes, if you already have a direct channel opened to your friend. However you don't get to choose which route your payment takes. It may cross your friend's node, but it may also take an entirely different route.

Quote from: Enre on January 19, 2018, 10:29:23 PM

In that case, could that allow for something like channel relays that could connect everywhere?

As mentioned by Kakmakr, the whole idea behind Lightning Network is to have a multitude of interconnected nodes (ie. wallets with open channels) form a network of payment channels that can relay transactions without requiring 2 parties to be directly connected to one another -- as long as there is a viable path that transactions can take ie. as long as they are at least indirectly connected. That's the Network in Lightning Network.

Kakmakr

legendary

Activity: 3458

Merit: 1961

Leading Crypto Sports Betting & Casino Platform

That is how it was supposed to work, is it not? The more channels that are opened, the easier and
cheaper it will be to find the shortest route for your transaction. As long as the channel is funded, it
will stay open for others to use.

I still have a very basic knowledge on the subject, like I think most people do, but I have a general grasp of the use case.

This is truely a mind blowing technology. ^smile^

Enre

sr. member

Activity: 617

Merit: 256

ICO Accelerator & Consultant

I think we can discuss lightning questions here, so we can easily find them and address them in one place.

I have a few questions myself:
I heard Lightning allows sending across extendible networks, does that mean you can send through a friend's open channels?

In that case, could that allow for something like channel relays that could connect everywhere?

Topic: Lightning Questions - page 2. (Read 575 times)