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Title: Coinbase implemented Lightning Network Post by: Rikafip on April 30, 2024, 02:50:58 PM As the title says, after last year's announcement that they are working on LN implementation, Coinbase announced earlier today that "starting today, support for the Lightning Network via @lightspark
will begin rolling out." and therefore joined many other top CEX (Binance, Kraken, Bitfinex etc) that already did that. Coinbase, the largest U.S. crypto exchange by trading volume, is rolling out support for the Lightning Network from today, enabling a faster and cheaper way for its users to send, receive or pay with bitcoin directly from their account. Previously, bitcoin transfers on Coinbase were processed on-chain, meaning transactions could take between 10 minutes and two hours, incurring high fees during periods of network congestion. “Growing Bitcoin adoption increases economic freedom in the world. I’m thrilled that our Lightning integration is live to make Bitcoin more useful and accessible worldwide,” Coinbase’s protocol specialist and Lightning integration lead Viktor Bunin told The Block. “Offering faster and cheaper BTC payments through our partnership with Lightspark is another huge milestone for the ecosystem.” Fees on the Lightning Network are broken down into a flat rate base fee as low as one satoshi — the smallest unit of bitcoin and equivalent to less than $0.01 — and a liquidity provider fee or fee rate as a percentage charged on the value of the payment. Node operators on the network can set their fees at varying levels to compensate for locking up liquidity. Title: Re: Coinbase implemented Lightning Network Post by: Oshosondy on April 30, 2024, 03:16:56 PM This is a good news. I have three wallets already that are supporting lightning network. They are Binance, OKX and BitMart. Let us expect more exchanges to have it.
Coinbase would have been my first exchange, but people from my country were restricted to have an account on the exchange. I do not know of now. Title: Re: Coinbase implemented Lightning Network Post by: dkbit98 on April 30, 2024, 09:27:08 PM As the title says, after last year's announcement that they are working on LN implementation, Coinbase announced earlier today that "starting today, support for the Lightning Network via @lightspark It's ''hunting'' season now so this news won't get much attention :Pwill begin rolling out." and therefore joined many other top CEX (Binance, Kraken, Bitfinex etc) that already did that. I wonder what happens if bunch of people connected with LN gets arrested soon? Phoenix LN wallet just removed their apps from both Android and iOS stores, and I think all LN wallets could be in trouble sooner or later. Just wait until average Coinbase customers try to use Lightning wallets... if they thought Bitcoin was hard, lightning will be impossible to use for them, and they will probably use some custodial wallet. Don't even get me started about many issues with closing and opening of channels, and that most of the LN is centralized. Title: Re: Coinbase implemented Lightning Network Post by: Pmalek on May 02, 2024, 03:50:14 PM All new additions are a welcome move, but they are a bit late to the party. Lightning Network support should have been added a long time ago. But with or without it, this won't stop Coinbase to mysteriously malfunction in times of huge interest in bitcoin and when prices are on the rise. They historically tend to have issues in those times and dampen bitcoin's value increase.
Title: Re: Coinbase implemented Lightning Network Post by: Z-tight on May 02, 2024, 04:31:22 PM Wallet Of Satoshi left the U.S market some months ago and removed their app from the U.S Apple appstore and Google playstore and Phoenix wallet is also leaving the U.S market this month. So maybe the U.S government will have something to say or do about people using the LN soon, they are after anything that enhances privacy right now. Apart from that, this is a good addition, Lightning support is something that any 'good' exchange should do.
Title: Re: Coinbase implemented Lightning Network Post by: bitmover on May 02, 2024, 04:57:52 PM As the title says, after last year's announcement that they are working on LN implementation, Coinbase announced earlier today that "starting today, support for the Lightning Network via @lightspark It's ''hunting'' season now so this news won't get much attention :Pwill begin rolling out." and therefore joined many other top CEX (Binance, Kraken, Bitfinex etc) that already did that. I wonder what happens if bunch of people connected with LN gets arrested soon? Phoenix LN wallet just removed their apps from both Android and iOS stores, and I think all LN wallets could be in trouble sooner or later. There is still Aqua. However, I wonder if lightning won't become an exchange-exchange some time soon It is easily to send LN BTC from binance to Coinbase , basically without paying fees and very easy to use... While it is a pain in the ass to setup a Chanel and use LN in your own wallet Title: Re: Coinbase implemented Lightning Network Post by: dkbit98 on May 07, 2024, 08:40:53 PM However, I wonder if lightning won't become an exchange-exchange some time soon Exchange to exchange and custodial wallet to custodial wallet, but only if approved by government officials or it's ''criminal'' and ''illegal'' :PIt is easily to send LN BTC from binance to Coinbase , basically without paying fees and very easy to use... As a indication that something like that is coming just look what happened with Phoenix wallet that decided to remove their apps from Android and iOS stores. I don't know if someone had intention to make Lightning to be a trap for Bitcoin, but it can become that if more crazy restrictions come from regulators. :P https://www.talkimg.com/images/2024/05/07/rbt3b.png |
