Topic: Lightning’s Bitcoin mainnet: the phenomenal growth - page 4. (Read 1036 times)

No, because all the answers that the newbies will actually learn are from people who don't spread misinformation, and disingenuous techno-babble from people who have been losing with their narrative. Sorry, but Roger Ver, Jihan Wu, or Craig Wright has lost.

But newbies, listen to franky1. It's also the other correct path to real learning.

so after many months of your nonsense. your 'proof' that LN is not pegged IOU is some quote of someone..

well again, do some actual research. and look into unconfirmed payments in millisats.
goodluck trying to counter argue that millisat based contracts are bitcoin confirmed funds.

i gave you many chances to update/correct your lack of knowledge. but it seemed you ignored the hints
so one more chance. hint: learn about millisats.
its the first stepping stone outside the echo chamber you have become stuck in.. please dont fear taking steps outside your echo chamber, the big wide world of reality is not as scary as yo may think.. enjoy learning new things

To all newbies. Listen to him and franky1, and take everything they say about Lightning as the truth. Believe everything.

If you have more questions, ask them in this topic, https://bitcointalksearch.org/topic/outdated-the-lightning-network-faq-4792622

Memefy them.

This is great news. Even though large entities hold a larger percentage of the channel still this means that people are now turning to using bitcoin as a currency not for exchanges only. It just makes sense for me that this entity is getting big. It cost money to open a channel.

I think now is the best time. It's still well ahead of any serious adoption and already usable in many ways. You can set up the node almost for free (raspberry pi parts) and learn basics as you go. I seriously think that it's the best time to get immersed in this topic.

Shameless plug, here is video that shows the process of setting up the node: https://youtu.be/77BBQWg1n8w

It's been pretty phenomenal to watch. People were getting so excited to get involved. As crypto should be! mass adoption is near

I have never used lightning network, because so far I didn't feel the need for it, and because I was too lazy to learn how to use it. If the network is too centralised, it's a serious risk, but the fees people are talking about are amazing, and perhaps the former issue would solve itself if more people joined the network.
Bitcoin might be getting bullish again, and the fees are rising. If they get as high as they did in 2017, I'll give the lightning network a try. And others probably will too, since it seems to tackle the scalability issue better than anything else offered so far.

Why the lies? Plus who's promoting? I'm only informing newbies that there are no "IOU promises to pay tokens" in the Lightning Network, which is a fact.

But newbies, listen to franky1, accept it as "the truth", then do your own research. Or not. Haha.

Well, i promote LN because it's one of the logical math in the near future which I wanna solve myself.
You're right, i and most of btc enthusiasts don't or even never use LN but I wanna deeply understand what it really is and how it works
Thank you for your information. I will take it into my consideration

windfury
you dont use LN, you dont understand LN. so why are you always trying to promote LN

LN is not bitcoin
not all nodes are individual people

check this out
https://1ml.com/location/us/va
"LNBIG.COM[LND-1], LNBIG.COM[LND-2],LNBIG.COM[LND-3],LNBIG.COM[LND-4],LNBIG.COM[LND-5],LNBIG.COM[LND-6],LNBIG.COM[LND-7],LNBIG.COM[LND-8],LNBIG.COM[LND-9],LNBIG.COM[LND-10],LNBIG.COM[LND-11],LNBIG.COM[LND-12],LNBIG.COM[LND-13],LNBIG.COM[LND-14],LNBIG.COM[LND-15],LNBIG.COM[LND-16],LNBIG.COM[LND-17],LNBIG.COM[LND-18],LNBIG.COM[LND-19],LNBIG.COM[LND-20],LNBIG.COM[LND-21],LNBIG.COM[LND-22],LNBIG.COM[LND-23],LNBIG.COM[LND-24],LNBIG.COM[LND-25],LNBIG.COM[LND-26],LNBIG.COM[LND-27],LNBIG.COM[LND-28],LNBIG.COM[LND-29],LNBIG.COM[LND-30],LNBIG.COM[LND-30],LNBIG.COM[LND-31], LNBIG.COM[LND-32],LNBIG.COM[LND-33],LNBIG.COM[LND-34],LNBIG.COM[LND-35],LNBIG.COM[LND-36],LNBIG.COM[LND-37],LNBIG.COM[LND-38],LNBIG.COM[LND-39],LNBIG.COM[LND-40],LNBIG.COM[LND-41],LNBIG.COM[LND-42],LNBIG.COM[LND-1],

But give some credit, and consider the node-count in Lightning, which is more than the node-count of Bitcoin Cash, or Bitcoin Cash SV, or maybe even two of them together?

Although, I would have to agree. The growth is good, but not that phenomenal.

Works well?
It sux.
Has had no effect on the current txn bloat.
Yet again Segwit fails.

I'm not exactly sure on the percentages, but assuming this is true for argument sake, it's quite bullish. It is recommended that people only dedicate small amounts to LN, and this LNBIG entity ignoring that shows how much trust there is in LN.

Overall, people seem to dislike something that works extremely well if you're connected to the right nodes. I haven't had one single transaction fail in the last few weeks.

The most expensive fee I had to deal with was 10 sats, where the rest is either free or 1 sat. There is no point in being so salty. If people get it working right, they find it useful, then it's all fine.

those calling it a lightning bitcoin mainnet. or a bitcoin layer 2.. have no clue
those saying LN has great growth have no clue.

the sudden 'growth' is not real utility. but people 'buying channels' or getting free channels

one service offering "channel opening" is showing this as their tweet
https://twitter.com/lnbig_com/status/1112688601429614593
"Sum of all local balances from us: 618.75808533 BTC"

60% of LN balance belongs to one entity

The growth has been phenomenal, but we still have a ways to go before the second layer is more user-friendly and transactions easier. I am looking forward to the release of the Neutrino lite client on mainnet.

It feels slightly disingenuous to say that prise rises are fuelling enthusiasm when part of that $5 million figure will be coming from the price rise itself.  If the price dropped down again tomorrow, it wouldn't mean that fewer people were using it.  It's probably best to stick to using BTC to measure the overall capacity.  That will avoid any moving goalposts.

Unfortunately, capacity is not the same as real usage. People still have to decide that they want to spend those 5 mln on microtransactions. No matter how good is the system if no one is using it.
Even if we are talking about future adoption then nothing can guarantee that someone would provide a better quality service (like for example a trusted bitcoin bank).

That is great news. Just checked out the link that you mentioned and the numbers look great. The changes over the past 1-2 months are seriously awesome and the LN continues to gather momentum over time.

At this rate, I feel that the LN will come out of its experimental phase and go mainstream sometime next year.

According to Bitcoinist.com and 1ml.com, "Bitcoin off-chain scaling solution the Lightning Network (LN) has reached a record $5 million in capacity as Bitcoin price rises fuel enthusiasm across the board.". You can visit https://bitcoinist.com/bitcoin-lightning-network-reaches-milestone-5m-capacity/ for more information
I am so excited to hear that news. What's about you?

As tweeted by Rawtx: https://twitter.com/rawtxapp/status/994601198148730880 and Patrick Chugh: https://twitter.com/patrickchugh/status/994473207758499840 on May 10, 2018, Rawtx's Mobile Lightning Wallet is available at the moment. Let's see the Android app's features which are described in https://rawtx.com

- Send and receive testnet Bitcoins on blockchain and lightning network.
- Support multiple wallets.
- Each wallet is composed of 2 accounts: checking account and savings account.
- Checking account = **funds on lightning network**, savings account = **funds on blockchain**.
- Only 1 wallet can run at any given time, but we are going to add possibility of running multiple wallets at the same time.
- Pay lightning invoices by QR code or lightning invoice.
- You can generate lightning invoices.
- You can directly get testnet coins from the faucet.
- Show outgoing and incomings payments on the lightning network.
- Transfer money from checking account->savings account by closing channels.
- Transfer money from savings account->checking account by creating channels to an existing peer or by QR code.
- Displays lightning network information (number of nodes, edges, etc.).
- Show a list of nodes and filter nodes by pubkey or alias.
- lnd-as-a-service: runs [lnd](https://github.com/lightningnetwork/lnd) in the background (can run 24/7 if the wallet is open) and you can access the instance even - outside the app by using the https certs and macaroons which are displayed in "About" screen.
- The battery usage seemed reasonable in our testings, but this is just a start and it will keep improving.
- Show lnd logs for debugging purposes.

There are some websites which support sending & receiving tesnet btc adopting the L.N, such as: htlc, ACNQ. You can check and prepare yourself a suitable wallet/ payment method in the time to come