Topic: The Lightning Network FAQ - page 22. (Read 33287 times)

That is correct and we still didn't have a single applicant, so just want to take the opportunity to encourage the readers to apply if they feel capable

That's because people don't buy shitcoins because they would like to use Bitcoin, but 8 cents per transactions is too expensive for them or because they don't like LN. They buy shitcoins in hope of making a fortune, due to feeling 'too late for Bitcoin'. Why? Because that's how these coins are advertised to them virtually anywhere; even in mainstream media (see coverage of Squid Game Token for example, while they don't write about BTC ATH's or LN adoption rising). These coins come and go, exactly because they're advertised as 'quick, easy money', so they're all pump & dump. Some may stick around and the overall market cap of alts may rise, but nothing will ever seriously rival Bitcoin anytime soon.

However.. this is extremely OT. This is now a 'Bitcoin vs Altcoins' discussion and should continue (if at all) somewhere other than 'Lightning Network FAQ'.

Oh well then in your case it might make sense. However, don't underestimate how much time can be lost during 'saving' a borked installation or something like that. As mentioned before, from my experience I'm quicker to reinstall OS and software than fixing stuff, that's why I do it like that these days.
For example, on this node I purposely put the blockchain directory on a secondary drive, so I can kind of play around with the OS, possibly try LND, go back to C-Lightning and all that, simply by wiping and reinstalling what I like to try next, without ever risking to lose the blockchain really, quite convenient. And to be fair, if you do need to copy a few hundred gigs, it can take a few hours, but you don't have to sit and look at it. Start that rsync and let it run..

Yeah, I use BlueWallet pretty frequently, so I guess I'll just stick with LND.

It's a fuss. I'll have to move the whole block chain to another drive, which will take lots of time as it's HDD. Then, I'll have to re-install whatever I had before (which I'm not quite sure) and then re-move the chain back to it. I speculate that this will cost me around 3-4 hours which is what I call a trouble.

Sure, if there wasn't any other way, I would, but if there is, I prefer that.

If you don't have tBTC, don't hesitate to ask for some:  [Merit] [Faucet] Hey Bitcoiners! Wanna try out the lightning network?

We can make up different reasons, but what is actually happening is every year, shitcoins are gaining more usage, and becoming higher in market value. Bitcoin apps like Lightning should make the narrative for shitcoins weaker and less convincing, but it’s not.


In general, would you say that more than 50% of Bitcoin users use Lightning just for faster transactions, and cheaper fees?

You can use Eclair Mobile Testnet. You need to use some faucet to obtain testnet coins and then you can open a channel with some node.


I can't recall an app like that. If you want to use the wallet above on the mainnet, you need to download the mainnet version. There are also a few other mainnet wallets that you should consider: Phoenix Wallet, Breez Wallet, BlueWallet (custodial Lightning wallet; you don't have to open channels on your own).

How can I try to use Lightning Network on bitcoin testnet?
Did testnet support Lightning Network?
and What is application  app for use Lightning Network both on testnet and on bitcoin Lightning Network real live?

Which one is more suitable for you (or easier to use) depends on a lot of factors, like Rath said. For me, it was important that the software would run efficiently and quickly, which is one thing C can just do better than Go at the moment. On the other hand, I'm missing out on Zap for example, which is a bit of a pity, because I don't think there are similar clients that allow you to kind of use your node from other machines for day-to-day transactions. Well, maybe through RTL, but it's not really focused towards that; instead more on maintaining and administering the node. In general, it seems there is more software support for LND. Another example would be BlueWallet, which allows to connect only to LND instances (through LNDHub).

I'd like to ask the other way round: what's the big issue with wiping & reinstalling? I know, it seems unintuitive in the beginning, but from my experience with these kinds of things, if you have a dedicated machine essentially running one or two pieces of software (like just Bitcoin Core + Lightning; or just one webserver - these sorts of projects), it's most of the time fastest when there's an issue or major change / update that doesn't work out of the box, to just backup whichever data is essential (usually very little), reinstall and you're back up online in a very short time.

I recently reinstalled one of my own nodes (my main personal node) due to switching out the drive and followed my own instructions; it went surprisingly fast (even though I often reinstall systems if needed, as explained).

Well, best privacy would be running your own Bitcoin node (as always) and installing C-Lightning or LND onto the same machine.
On mobile, I like to use mostly Breez due to the control it offers. Regarding privacy, it uses a Bitcoin node provided by Breez but through BIP 157 which should be pretty fine. I'll try to connect to my own node, though, let's see if this is possible.

Great, thanks. So you would need an ARMv7 release/binaries.

You might want to try this one:

https://github.com/lightningnetwork/lnd/releases/download/v0.14.1-beta/lnd-linux-armv7-v0.14.1-beta.tar.gz

Let us know if that works better.

HTH

No, I don't think so. You downloaded binaries for arm64 but possibly are running a 32bit ARM platform. The error you get suggests sth like that.

You'll need to find out which release you need exactly for the RPI you have at hand. Or tell us which RPI model you exactly have so we might help.

HTH

One question for people who are using LN for some time:
Does anyone know what is the best privacy oriented Lighting Network wallet, and if anything like this even exist?
I heard that Wasabi wallet created 1 BTC Privacy Research Grant for making wallet like this that should last until September 2022, but I don't know about any alternative.

I don't know, I don't count the people I talk to. I suspect that most of the ChipMixer participants use the lightning network.

I don't play on casinos, so I don't have much opinion towards it. I usually buy from Bitrefill which also accepts shitcoins. To clarify:  I don't say that shitcoins aren't a thing, I just think that the lightning network is a more preferable solution and that most of the Bitcoiners use it.

I see a lot of supports from some nice Twitter accounts too.

For exchanges, I assume their business model requires free deposits and expensive withdrawals. That discourages people from taking their funds out of the website. For casinos, I kinda just assume the same! Why have someone withdraw 50,000 sat in LN if you can make him gamble more to reach the minimum on-chain withdrawal amount and pay a much higher withdrawal fee?
Fast and cheap withdrawals simply aren't in the interest of many businesses.

Or maybe I'm just wrong here, because cheap and fast deposits would totally be in their interest. It would be very nice if some casino owners can chip in on their reasoning

How many of them have you talked to?

post #1044.


Is it just me who has never bought a single shitcoin? Not just for purchasing something. Generally, to just have it.