The Lightning Network FAQ - page 74.

lightningmelo

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Quote from: LoyceV on September 21, 2019, 02:52:17 AM

Quote from: ?? on ??

ie: Gift Cards have proven superior over Lightning Network for actually removing transactions offchain

It's easy for a centralized entity to allow zero-fee transactions between users. Most online casinos and some exchanges allow customers to "tip" each other. They all have their own system, and it only works within their own website. That's great, assuming you trust the site.
But it's not what LN is about.

I think the OP means actual gift cards, like the ones you can buy at convenience stores, for Amazon, iTunes, etc.

Businesses selling those online are actually getting a lot of value from using LN because they can just send the card right away instead of having to wait for X confirmations.

There's no centralized entity since the funds are coming from an outsider to the company.

LoyceV

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Thick-Skinned Gang Leader and Golden Feather 2021

Quote from: ?? on ??

ie: Gift Cards have proven superior over Lightning Network for actually removing transactions offchain

It's easy for a centralized entity to allow zero-fee transactions between users. Most online casinos and some exchanges allow customers to "tip" each other. They all have their own system, and it only works within their own website. That's great, assuming you trust the site.
But it's not what LN is about.

Rath_

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Quote from: Richard Jonson on September 19, 2019, 03:31:16 PM

If possible from anyone of you please clerify me with iconic point of Lightning Network payments.

In most cases, they are instant and cost way less than on-chain transactions. However, there are many disadvantages such as not being able to receive payments right after opening a channel, payment routing failures and having to be online in order to prevent the other party from cheating. Don't expect to earn a lot of money on running a Lightning Network node right now.

Quote from: Richard Jonson on September 19, 2019, 03:31:16 PM

And confirm me please is it accept BitPay?

BitPay does not accept Lightning Network payments. Introducing SegWit addresses and fixing their QR codes will be huge milestones for them.

Last of the V8s

legendary

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Be a bank

https://www.youtube.com/playlist?list=PLbdPWjvnsOMyyce4oxRZWo2fmV9Dhg42p
Here's a channel worth subscribing to. @shinobi plans to push out quite a few more podcasts in the next ~week, covering lots of aspects of lightning now and way off in to the future.

Richard Jonson

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I'm confused till after greeting multiple response till as fewer look like not accurate!! which is very much irritating for the small invest.
If possible from anyone of you please clerify me with iconic point of Lightning Network payments.

And confirm me please is it accept BitPay?

Rath_

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Quote from: bitart on September 18, 2019, 07:05:25 AM

-snip

I proposed it about 3 months ago and nothing has happened since then. A board dedicated to second layer solutions might help us not to abuse this topic and divide information into separate threads without having to worry that they will end up on the 20th page of this section. If you want to discuss it further, please reply in the previously mentioned topic.

bitart

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Vires in Numeris

Quote from: Rath_ on September 17, 2019, 08:59:12 AM

Quote from: LoyceV on September 17, 2019, 08:41:05 AM

If there are more real services that accept LN payment, I'd like to see them posted here. BitCryptex, are you okay with that?

I don't mind if someone posts anything LN related here from time to time. However, I might create a separate thread for that or you can do it yourself since this thread should be focused more on questions.
...

I would be interested in a separate board for LN if possible (but as I saw somewhere there will be no separate board unless there will be enough activity in LN related threads, but there will not be enough activity until the LN topics are easy to find, so this is a bit like catch-22...)
I know there's a search function in the forum and there's google search, but a separate board is just really different...

Rath_

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Quote from: LoyceV on September 17, 2019, 08:41:05 AM

If there are more real services that accept LN payment, I'd like to see them posted here. BitCryptex, are you okay with that?

I don't mind if someone posts anything LN related here from time to time. However, I might create a separate thread for that or you can do it yourself since this thread should be focused more on questions.

Quote from: LoyceV on September 17, 2019, 08:41:05 AM

@BitCryptex: you mentioned running a node before, so I got an idea: would it be possible to use Linux command line to check payment requests before paying?

It would be possible. LND seems to have LookupInvoice command which returns a lot of information, including the requested value. You can also try this invoice decoder.

Carlton Banks

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Quote from: LoyceV on September 17, 2019, 08:41:05 AM

Can I use this thread to post an actual service that accepts LN as payment?

I would say "no, Dev & Tech is the wrong board". But I'm not moderating this thread

Quote from: LoyceV on September 17, 2019, 08:41:05 AM

I still have high hopes for LN: despite it being very small compared to many altcoins

that makes zero sense

It would make sense if you were to compare Litecoin's LN with Bitcoin's LN. Litecoin's LN is smaller. That would make sense.

LoyceV

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Thick-Skinned Gang Leader and Golden Feather 2021

Can I use this thread to post an actual service that accepts LN as payment? Cheesy

I funded my LN-wallet again just to support this initiative: a $1 VPS server (HDD))! It's small and no doubt slow, and I LOVE that they accept LN. Contrary to on-chain Bitcoin, LN is designed for this.

If there are more real services that accept LN payment, I'd like to see them posted here. BitCryptex, are you okay with that?

I still have high hopes for LN: despite it being very small compared to many altcoins, there are already a couple dozen different wallets. My guess is they all want to be one of the first, so they have early adopter advantage once LN gets really big.

@BitCryptex: you mentioned running a node before, so I got an idea: would it be possible to use Linux command line to check payment requests before paying? I'd like to set up a promotional node that pays all LN requests posted anywhere on Bitcointalk as long as they're under a certain (low) value. I already scrape the posts, so I can get all requests within seconds. If I can pull this off with a node, I think I can get all requests paid within 10 seconds after posting.

Wind_FURY

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Quote from: LoyceV on September 02, 2019, 01:30:14 PM

Quote from: ?? on ??

It's very surprising news, who would expect Lightning Network protocol and client which are on development phase have security issue which could cause loss of funds Shocked

Lol

The fact that the loss of funds "could happen" but hasn't happened yet is more surprising Tongue

I believe the only reason why hackers haven't started looking for vulnerabilities in Lightning is because the rewards might be too small for the effort.

Its success, if it becomes a success with billions passing around in the network, will also make it a target in my opinion.

LoyceV

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Thick-Skinned Gang Leader and Golden Feather 2021

Quote from: ?? on ??

It's very surprising news, who would expect Lightning Network protocol and client which are on development phase have security issue which could cause loss of funds Shocked

Lol

The fact that the loss of funds "could happen" but hasn't happened yet is more surprising Tongue

Rath_

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Yesterday, Andreas Antonopoulos announced on his YouTube account that "Mastering the Lightning Network" is going to be released next year! It will be possible to contribute on Github to the book and proofread it before it is released. The work on it will start in the middle of September.

Carlton Banks

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Quote from: Rath_ on August 08, 2019, 05:54:20 PM

Isn't it exactly the opposite? I looked up this command on a few websites and they said that setting it to -20 makes the process the most favorable.

correct, except making the lightning/bitcoin daemon more favorable is not what you want to keep the raspi stable Wink

Rath_

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Quote from: Carlton Banks on August 08, 2019, 05:08:04 PM

The range of valid nice values is from 19 (maximally nice) to -20 (not at all nice). htop tells you what nice value is assigned, possibly top will too

Isn't it exactly the opposite? I looked up this command on a few websites and they said that setting it to -20 makes the process the most favorable. Thanks for your suggestion. I have already contacted Zand_ and we might give it a shot along with neutrino.

bitart

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Vires in Numeris

Thank you guys, that was really helpful!
Now I'll start reading about the changes in LND and I'll try to upgrade my Raspberry to the latest release
(Or I'll start from scratch, maybe it's better)
So at first I don't mind if it will slow down from time to time but if it will happen frequently I know now where to find a nice solution for the problem

Carlton Banks

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Quote from: Rath_ on August 08, 2019, 01:35:54 PM

Quote from: bitart on August 07, 2019, 04:51:35 PM

Does it worth the time and the energy to start again with a Raspberry PI? (I have it, I won't use it for anything else, and I don't want to sell it, so if it won't be painfully slow or useless, is there any reason why not to play with it again?)

Using a Raspberry Pi is kinda a bumpy ride. It works well for most of the time, but sometimes, it slows down for no reason.

try giving bitcoind (and your lightning daemon) a positive nice number, e.g.

Code:

nice -n 9 /usr/bin/bitcoind

this tells the linux kernel to de-prioritize CPU cycles that would otherwise be scheduled for a given process. All userland processes have an implicit nice value of zero, which means there's a FIFO style dynamic in the way they are served by the CPU. The range of valid nice values is from 19 (maximally nice) to -20 (not at all nice). htop tells you what nice value is assigned, possibly top will too

this should help to smooth out resource usage on a raspi

another angle is to boot directly from an SSD (and put your swapfile on the SSD also). This might only work on rasPi 3's, cannot remember specifically. The /boot partition can stay on your microSD, as it's not performance contingent, and likely read-only too. You just need to tell the config files in /boot to start the init process from /dev/sda (or whatever device your SSD system disk is)

Rath_

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Quote from: bitart on August 07, 2019, 04:51:35 PM

Does it worth the time and the energy to start again with a Raspberry PI? (I have it, I won't use it for anything else, and I don't want to sell it, so if it won't be painfully slow or useless, is there any reason why not to play with it again?)

Using a Raspberry Pi is kinda a bumpy ride. It works well for most of the time, but sometimes, it slows down for no reason. It will be usable if you don't mind waiting another 30 seconds from time to time.

Quote from: bitart on August 07, 2019, 04:51:35 PM

If it's OK to start a node on Raspberry, which one would you recommend?
Is neutrino a working solution now (it was in a really beta state in 2017), or I should attach a HDD to the PI with the blockchain, downloaded previously with a PC, and start a full node?

Most tutorials out there are made for LND which is the only implementation supporting neutrino. Neutrino seems to be working fine since Lightning Lab decided to use it in their mobile mainnet Lightning Network wallet. There's also another light client called Breez available on iOS which also uses neutrino.

Carlton Banks

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neutrino's probably improved since you last used it, but I don't have any experience of that. The bitcoin network will have alot more neutrino nodes in either the October release or the April release of the core node software, but until then you'll be relying on the small number of btcd nodes that support it

bitart

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Vires in Numeris

Hi,
I've read the FAQ and have a simple question:
I know that it's possible to run a LN node on Raspberry PI (because I have one and I had a node on it in 2017 (I know, long time ago))
Fees has settled and I've switched off the node and forgot about it, it's in the drawer, untouched since the power off.
It was a neutrino node (without the copy of the blockchain downloaded locally)

So my question is:
If I just switch it on, it will be really outdated (it was an LND node)

Does it worth the time and the energy to start again with a Raspberry PI? (I have it, I won't use it for anything else, and I don't want to sell it, so if it won't be painfully slow or useless, is there any reason why not to play with it again?)

If it's OK to start a node on Raspberry, which one would you recommend?
Is neutrino a working solution now (it was in a really beta state in 2017), or I should attach a HDD to the PI with the blockchain, downloaded previously with a PC, and start a full node?

Thanks for the answers in advance, I'm not lazy to read and to search, but I need someone to show the right direction before I start searching and reading a lot

Topic: The Lightning Network FAQ - page 74. (Read 32044 times)