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Hello bitcointalk!
Working on White Paper now, soon topic will be updated
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This is Pre-Announcement post, some details will be added or can be change! About project:Bitcoin, Lightning Network and altcoins cryptocurrency processing. Website:https://madbit.ioDiscord:https://discord.gg/YAqZQXVDetails:- Accept donations for nonprofit organizations with no commissions.
- Quick, 0-confirmation on-chain Bitcoin transactions for micro-payments.
- Lightning Network for fast off-chain Bitcoin payments.
- Popular Shopping Cart Plugins.
- POS payment application for IOS/Android.
- Lightning Network hub connected with largest nodes.
- Simple api. Just send us payment request with amount and your wallet, and we will forward payment back to you.
- Merchants list: search by geo-location with Android/IOS app.
- Blog post about every new merchant/website added to our system.
Altcoins requirements for our platform:- Only coins with low fee, quick payment options.
- No bcash.
MadBit coin Specifications:- Premine 52.3%
- PoW Algorithm: SCRYPT
- Total Coins: 21,000,000
- Block Time: 2.5 minutes
- Difficulty Retarget: Every 4 blocks
Premine will be spend for:- Mostly, software development.
- A little, for exchange listings.
- A tiny, for bounty and advertising.
Unspent coins will be burned. So in total - there will be about 10 000 000 of MadBit coins on the market.Roadmap:Q4 2019 - MadBit coin launch
- New website
- Linux/Windows wallets
- Blockchain Explorer
- Web wallet
Q1 2020 - Build a team, prepare for project development.
- Burn 25% of MadBit coin premine.
Q2 2020 - Project Development
- Burn 25% of MadBit coin premine.
Q3 2020 - MadBit.io Beta version online
- Burn 25%
Q4 2020 - Payment processing official launch.
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next questions: 1. is there any "lightweight" Bitcoin client I can use for Lightning? I know about Neutrino https://github.com/lightninglabs/neutrino, but they dont recommend use their client in mainnet Neutrino is an experimental Bitcoin light client written in Go and designed with mobile Lightning Network clients in mind. It uses a new proposal for compact block filters to minimize bandwidth and storage use on the client side, while attempting to preserve privacy and minimize processor load on full nodes serving light clients.
There are multiple known major issues with the client, so it is not recommended to use it with real money at this point.
2. How can I move my Lightning Node to another server/ip address? How can I save all channels and peers after move? |
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There's currently a work in progress for implementing "dual funded" channels where Alice and Bob both construct the funding transaction so they both start out with balances equal to the amount they funded. Till that is implemented you can use dual funded channels - exactly what i'm asking about! thanks! i'll follow this pull. about push_msat, yes, better not to use it, if you dont want just give you money as a gift to some node. |
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Hello jrian. Good thread. I am waiting for some hardware to arrive to start working on an LN node myself. Saw your post history and it seems like you will be a good source for information and help, in case i need any. So I am doing you a solid for the amount of sMerit I had to spare. Remember this when i ask for your help..LOL..  Thanks in advance. Also, would you care to explain the reason behind contemplating about becoming the biggest LN node. Wouldn't that be a lot of spare BTC plus you'd need to have an equal amount of parties interested to open a channel with you too (with some balance committed from the other side). Is that even possible until you are, say, an exchange or a major seller? Hello! I'll be happy to help you! I'm still thinking about "supernode", I think it's possible with some services, like LN wallet, or payment processing. Reason? LN it's like POS crypto-currency. You can earn some interest in the future with big node  |
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understand, thanks. But how can I open bi-directional channel with any node?
how can I open such channel with some (not mine) node?
Using whatever channel opening functionality the LN software you are using provides. All channels are bidirectional; it doesn't matter who creates them, both parties in the channel can send money to and receive money from the other party in the channel. maybe I ask wrong question. according to this tutorial https://dev.lightning.community/tutorial/01-lncli/If I open channel from Alice to Bob - Alice can pay to Bob, right? But how can I force Bob to put some satoshi in this channel? So Bob can pay back to Alice? for example: bitcointest@zabbix:/root$ lncli-alice openchannel --node_key=XXXXX --local_amt=80000
{
"funding_txid": "XXXXXX"
}
bitcointest@zabbix:/root$ lncli-alice listchannels
{
"channels": [
{
"active": true,
"remote_pubkey": "XXXXXXX",
"channel_point": "XXXXXXXXX:1",
"chan_id": "XX",
"capacity": "80000",
"local_balance": "77199",
"remote_balance": "0",
"commit_fee": "191",
"commit_weight": "600",
"fee_per_kw": "250",
"unsettled_balance": "0",
"total_satoshis_sent": "0",
"total_satoshis_received": "0",
"num_updates": "0",
"pending_htlcs": [
],
"csv_delay": 144,
"private": false
}
]
}
now we have channel from Alice to Bob. But I want Bob to pay Alice invoice. bitcointest@zabbix:/root$ lncli-alice addinvoice 5000
{
"r_hash": "XXXXX5cfd2a4949adc680b01ad0f002553c",
"pay_req": "lnXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXf5mvr"
}
bitcointest@zabbix:/root$ lncli-bob payinvoice lnXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXf5mvr
{
"payment_error": "unable to route payment to destination: TemporaryChannelFailure: insufficient capacity in available outgoing links: need 5000000 mSAT, max available is 0 mSAT",
"payment_preimage": "",
"payment_route": null
}
so, question is - how to force Bob to put some money into channel? |
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Autopilot does not just open as many channels as possible. It isn't designed for that. Autopilot will not magically make you the biggest node on the network, nor will it open tens or even hundreds of channels for you.
understand, thanks. But how can I open bi-directional channel with any node? To illustrate how this works, consider that Alice and Bob have each contributed 1BTC to a shared channel. The entire channel now has a total of 2BTC in it, but it has a cap in each direction. how can I open such channel with some (not mine) node? |
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I'm running LND in mainnet, and I have some questions about it. All my future questions I'll ask here, and make some QA in this topic. so, first. What is push_amt in LND? According to RFC - https://github.com/lightningnetwork/lightning-rfc/blob/master/02-peer-protocol.md- here is explanation: The sender can unconditionally give initial funds to the receiver using a non-zero push_msat — this is one case where the normal reserve mechanism doesn't apply. However, like any other on-chain transaction, this payment is not certain until the funding transaction has been confirmed sufficiently (with a danger of double-spend until this occurs) and may require a separate method to prove payment via on-chain confirmation. Why I wanna use it in with another nodes? Whats use cases? And some global question, how to build biggest LN Node? Just fund it with some bitcoins and open channel to every big node? Or, I can just run Node with Autopilot and wait? Already waiting more than week, and here is statistics: Active channels 6 How to open 100 channels? 1000? |
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already trying to understand how its works. Few days ago setup node on mainnet. And successfully paid 145 satoshi somewhere for test It's working, but I'm not sure I'm ready to transfer all my satoshi to Lightning network today. you can see nodes&channels map and statistics here https://lnmainnet.gaben.win/ |
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Thanks, I like this solution. However, how to make sure the mining fee will be enough at the time of broadcasting?
you cannot predict transaction fee. Just use 50-100 satoshi/byte |
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at first, you have to use ssh, not cpanel here is "quick" manual
wget https://bitcoin.org/bin/bitcoin-core-0.16.0/bitcoin-0.16.0-x86_64-linux-gnu.tar.gz
wget https://bitcoin.org/bin/bitcoin-core-0.16.0/SHA256SUMS.asc
wget https://bitcoin.org/laanwj-releases.asc
gpg --import laanwj-releases.asc
gpg < SHA256SUMS.asc | sha256sum -c
tar -zxvf bitcoin-0.16.0-x86_64-linux-gnu.tar.gz
sudo install -m 0755 -o root -g root -t /usr/local/bin bitcoin-0.16.0/bin/*
then, you have to create directory for bitcoin and config mkdir ~/.bitcoin
vi ~/.bitcoin/bitcoin.conf
use your preferred settings for bitcoin.conf. then, just run bitcoin core as daemon thats all |
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or, you can run your bitcoind under another user |
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Hi guys, have read all possible examples on the internet but still cannot connect to btc node from Java. I'm using btcd-cli4j but have tried all other rpc libs as well, result is the same. This is the command: BtcdClient client = new VerboseBtcdClientImpl(httpProvider, "127.0.0.1", 8332, "foo", "bar"); This is the docker image: version: '3.3'
services:
bitcoind:
image: seegno/bitcoind:latest
command:
-printtoconsole
-regtest=1
-rest
-rpcallowip=172.18.0.2
-rpcuser=foo
-rpcpassword=bar
-rpcport=8332
-server
-logips
-debug=rpc
ports:
- 8332:8332 Have tried couple of different docker images as well. Always the same: Exception in thread "main" HttpLayerException(super=CommunicationException (super=com.neemre.btcdcli4j.core.http.HttpLayerException: Error #1003001: The server responded with a non-OK (4xx) HTTP status code. Status line: HTTP/1.1 403 Forbidden, code=1003001)) My suspicion was around rpcallowip but don't know how to set correctly. This one is set by going into the docker container and executing hostanme -i to see the ip address. Setting that one in config and restarting the container. just remove rpcallowip from config and test how it's works |
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Are there no way to start ./bitcoind without connect to other peer? I just want to test source revision and function test without connect to peers.
try to run bitcoind with -connect=0 -connect=<ip>
Connect only to the specified node(s); -connect=0 disables automatic
connections (the rules for this peer are the same as for
-addnode)
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Nowadays it is impossible.
Do you know how much fees today? It's very big amount.
Yes, we know about 10 cents. Too big, yeah? ps. just sent bitcoin payment. paid 3 cents for commission. |
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Segwit by default, and you can choose Bech32. Will install it right now ps. someone have to change this news: News: Latest stable version of Bitcoin Core: 0.15.1 (https://bitcoin.org/en/download) |
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If anyone looking into starting a cryptocurrency exchange. I have some exchange software already built and tested, good to start with.
Support both fiat and coins.
Send me a PM!
I hope it will help you!
Hello. Please send me DEMO link. Thanks! |
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