Topic: So we tried out Lightning tonight at ROOM77 - page 3. (Read 2568 times)

lol
care to try reading beyond reddit.. you might learn more

The Lightning Network is in early days and is a good concept.  Fortunately, it's not the whole of Core's solution and is not SegWit.  Unfortunately, BUgcoin actually is the whole solution.

there are risks

the address re-use signing (sideattack) risk
the blackmail to invoke a revoke (chargeback fraud)
the risk that the close LN tx wont confirm(ONCHAIN fee locked into the values hours,days,weeks, before its ever broadcast)
the particiants of a multihop dont broadcast in the right order causing a few revokes.

hense those using LN are told to only use around ~$60 just to be safe.

remember its not a lock in forever utility for everyone to throw their entire hoards in.
and no one can predict what they will want to buy months in advance so expect more channel closing and openings than the utopian sales pitch

forget the utopian sales pitch of LN forever onchain never. and think LN voluntary side service. bitcoin forever

No. Ignore the fear mongering. If there are certain risks, they will be clearly explained and publicly known.

Is there any real case of double spending in LN so far?

Testnet has Segwit activated. Read the thread.

No.

I'm not sure how much you talked to your customers during beer but I'm interested which wallet software they used for the LN/test transaction

Hmm,

Did you record your Customers Names & Address when you accepted Zero Confirmations, in case they ever used a DoubleSpend trick on you?
(It is quite easy to doublespend on a Zero Confirmation.)

LN is not safe at all until segwit is activated, so you have to trust all of your LN Clients Completely.
Counterfeiting and stealing BTC thru LN is not only a possibility but a probability.

Little word of warning , not waiting the required confirmations, is like playing Russian roulette , it is not a matter of if but When!

Smarter move on your Part would be using a Gift Card System , that people can fund with BTC instead of taking BTC directly.

 

FYI:
https://merchant.gyft.com/
All of the advantages of Offchain transactions without the shenanigans of the LN/Banking Cartels.

For many years now we have been accepting Bitcoin (with zero confirmations and directly, not through Bitpay) at our bar/restaurant in Berlin. Today we have deployed a testnet lightning node and accept testnet coins via the lightning network from a few customers to get a glimpse into the future. And that future looks shining bright!

- No more waiting for the customer's transaction being broadcasted, transactions arrive in milliseconds, not seconds (or sometimes minutes in case the customer uses coinbase or another bank wallet).
- No more looking out for double spend attacks. Not even Peter Todd is going to RBF us on LN.
- No more confusion during times of malleabillity attacks. Transaction malleabillity is a thing of the past.
- Massively advanced privacy for us as well as our customers as only we can see the transactions on our payment channel.
- And we will finally be able to offer free-of-cost payments to our customers.

As a merchant I can tell you that every merchant on the planet wants this stuff. It is like after all these years Bitcoin shows that with LN it can live up to its promises in regards to efficiency, speed, irreversibility and privacy no matter how many people will use it.

Thanks to all the developers making this possible!

edit: pics http://imgur.com/a/64iwK

reddit thread: https://www.reddit.com/r/Bitcoin/comments/62uw23/lightning_network_is_working_room77_is_accepting/