>en.bitcoin.it/wiki/Lightning_Network >Lightning Network is a proposed implementation of Hashed Timelock Contracts (HTLCs) with bi-directional payment channels which allows payments to be securely routed across multiple peer-to-peer payment channels. This allows the formation of a network where any peer on the network can pay any other peer even if they don't directly have a channel open between each other. As of March 2019, there were more than 37,000 channels carrying more than 764 bitcoins.
Why should I care? The biggest complaint right now about Bitcoin is it's high fees and slow transactions. Lightning Network is a 2nd layer solution (controversial I know) that aims to provide instant payments, with negligable fees backed entirely by Bitcoin (and other chains). If this succeeds not just Bitcoin but all supported cryptocurrencies can proceed in the next phase of taking over financial control of the world.
Why is it so hard? Largely because it's a work in progress, routing is still in it's engineering/expeimenting stage, and the UI experience requires a fair amount of polish. If you're technically inclined it's not very difficult to get started.
How do I get started? Choose a wallet from lightningnetworkstores.com/wallets The usual process is to: Send some BTC to your LN wallet (Try to be patient 1 sat/byte tx's generally confirm within a day) Open a channel with either another wallet/node, or one you find on 1ml.com/explorer.acinq.co/
> 1000 BTC capacity with no exchange support after 5 year of development Why not admit it's an expensive failure corecuck
Eli Brown
>not peer to peer Provably false, you can open a channel with anyone, and nobody can stop you. >not cash It's cash to the extent you can consider any cryptocurrency cash. I would bet the reason Jow Forums is so salty about it is that it doesn't create a new token to shill to each other.
Aiden James
get yourself an XSN masternode to become a LN node and rake in those passive gains.
Noah Morgan
set up LN on my bitseed node. still haven't got it to run properly but it's installed
¯\_(ツ)_/¯
Landon Garcia
Deflationary currency will never be cash, doesn't matter if you have the best scaling ever. This shit isn't for buying pizza and coffee, its for isolating yourself from a corrupt financial system
Elijah Sullivan
Digits don't lie. That's why we're destined for 100k+.
Lincoln Wilson
If it can't used as peer-to-peer currency, then it contradicts what's written in Satoshi's whitepaper.
Jonathan Foster
it is cash so much that it doesn't have a public paper trail following it around the P2P network lighting is bitcoin put into multisig channels that act as liquidity providers to move cash lightning fast across a network 10,000s of transactions settled into one on the mainchain for channel re-balancing or cashing out to the hardened secure ledger
Asher Thomas
the gold standard worked pretty well until we had to begin trusting central banks then they gain so much power they eventually said eh not backed by gold anymore too bad for them bitcoin is like the gold standard where every lightning channel is backed by bitcoin
LIGHTNING IS THE CENTRAL BANKER SCHEME TO HIJACK BITCOIN THROUGH A SIDECHAIN FOR THEIR OWN PROFIT, ONLY MADE POSSIBLE BY BILDERBERG CONNECTED BLOCKSTREAM
IN ORDER TO RECEIVE PAYMENTS YOUR NODE MUST ALWAYS BE ONLINE, AND EVERY SINGLE PERSON WHO WISHES TO USE THE NETWORK MUST HAVE A 24/7 ONLINE CHANNEL LOADED WITH FUNDS OR GIVE UP CUSTODY OF THEIR COINS TO A (((NODE OPERATOR)))
Ok rajeesh, send a screencap to dr.sanjeev so he can send some paneer to you 5 children. Do you fucking understand this Is a 2d projection of a 3d network?
Luke James
DO YOU UNDERSTAND WHAT A HUB AND SPOKE NETWORK IS MOSHE?
TOTALLY DECENTRALIZED LMFAO NECK URSELF AND DONT EVER SPEAK TO ME AGAIN
